11/11/2019
UAE banks record total assets of USD820bn
It added that the asset growth was driven a rise in deposits from USD0.368 trillion in December 2018 to USD0.382trillion in September.
Legal, Tax, Regulation & Compliance
11/11/2019
Employees' rights under new DIFC employment and insolvency laws
Under the DIFC Preferential Creditor Regulations, employees are designated as 'preferred creditors'.
11/11/2019
Lebanese bank employee union calls strike over safety concerns
George al Hajj said the decision had been taken on Monday at a meeting of the syndicate that represents 11,000 bank employees.
11/11/2019
Dawn of VAT litigation in UAE: Are you prepared?
Since VAT litigation is new, there are not enough jurisprudence available to rely on.
11/11/2019
Emiratis to secure 40% banking jobs in UAE
Currently, Emiratis constitute 26.1 per cent of the UAE’s banking workforce
11/08/2019
UAE has 'no income tax plans' says senior government official
A feature about tax in a local newspaper caused a flurry of debate among residents
11/08/2019
Kuwait- Freeze assets of those on US sanctions list
CBK moves to combat money laundering, terror financing
11/07/2019
GCC countries likely to introduce direct and indirect tax in the near future
Tax experts in the region have confirmed to the daily that new taxes are expected to be applied on wealth and property, as well on businesses.
11/07/2019
Public sector credit demand to boost UAE lending
Moody's maintains stable outlook for UAE banking system
11/07/2019
UAE's Insurance Authority rolls out new life insurance regulations
The authority published the final rules that aim to overhaul the industry after three years of consultation
11/07/2019
Digital currencies cannot be wished away
Traditional finance will have to find ways to co-opt such new fangled means
11/07/2019
Saudi Arabia's sovereign wealth fund denies link to Capco deal talks
Candy Ventures, which has not to date named which parties it is working with, did not comment today.
11/07/2019
How Unofficial Capital Controls Stopped a Run on the Banks in Lebanon
There was minimal “awareness” or “responsibility” by the banks’ clients.
11/07/2019
UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers
As the Supreme Court noted, "very extensive powers were delegated to Mr Al Sanea to take decisions on behalf of the company, including signing powers over the company's bank accounts."
11/07/2019
Kuwait current account surplus $10b – CBK issues data
The services account posted a drop in the deficit value in Q2 by KD 326.8 million ($1 billion), compared to the KD 2 billion ($6.6 billion) deficit in Q1.
11/06/2019
Saudi threatens expat employers with jail terms
The department listed a string of potential offences include recruiting, sheltering or providing any services to illegal workers.
11/06/2019
Saudi Arabian Monetary Authority’s first MoU in Riyadh signed with the DFSA
Under the MoU, both parties will be able to cooperate closely and strengthen their collaboration.
11/06/2019
"kfh" signs cooperation agreement with "Al-Yousifi & sons company"
Offers exclusive benefits for customers
11/06/2019
Sharjah Islamic Bank Launches ‘Commodity Murabaha’ Service in Cooperation With DMCC
Murabaha is a particular kind of sale where the seller expressly mentions the cost of the sold commodity, and sells it to the buyer by adding some profit thereon.
11/06/2019
Egypt- Issuance of executive regulation for e-payments law within weeks: CBE
Helal stressed that the CBE is cooperating with the Ministry of Finance in the automation of government payments and has deployed 16,000 points of sale and 16,000 QR code generators so far.