09/10/2019
Banks advised “Pay higher interest for Kuwaiti dinar deposits than US dollars”
They added that some banks were instructed to increase interest rates for US dollar deposits in March and April due to temporary factors.
Legal, Tax, Regulation & Compliance
09/10/2019
Federal Tax Authority Reaffirms: ‘Refunding Tax for Eligible Applicants a Direct Transaction Between Registrants and the FTA’
The Authority reiterated its call for maintaining strict confidentiality of registrants’ data.
09/10/2019
After 1MDB fallout with UAE, Goldman desperately courts rest of Middle East
Saudi Arabia is becoming the focus of Goldman Sachs’ Middle East strategy after the fallout from the 1MDB corruption scandal marked its abrupt downfall in Abu Dhabi, once one of its most lucrative markets in the region.
09/10/2019
Saudi Arabia should consider raising VAT to 10%: IMF
The Gulf state recently restrained crude production by more than called for by an OPEC-led supply deal to support oil markets, but slowing oil demand and the weakening global economy have kept prices under pressure.
09/09/2019
Aventicum Capital expands Qatar presence
All of the acquired funds will be made available to local, regional and international investors as the asset manager looks to expand the geographical reach of its client base and bolster its emerging markets’ portfolio.
09/09/2019
ENBD to hire banks for rights issue
Citigroup Inc. and Morgan Stanley likely to to manage a $2 billion rights offering
09/09/2019
GCC banks are catching up as clients become more demanding, says tech disruption report
"This is the conclusion we drew from our four-factor analysis of a banking system's technology, regulation, industry, and preferences, which we are incorporating in our ratings on banks in the region
09/09/2019
UAE and US lenders to strengthen financial and banking relations
Heads of UAE Banks and other high-level US delegates participated in a meeting as part of ongoing collaboration between the two countries
09/09/2019
UAE and US lenders to strengthen financial and banking relations
UAE Banks Federation hosts US Treasury Undersecretary as part of ongoing bilateral collaboration
09/08/2019
Kuwait’s First Dubai Real Estate Development settles $52mn debt with GCC bank
Settlement funded by Al Mazaya Hold, parent company of developer
09/08/2019
Govt plans to raise $1b from int’l market by issuing Sukuk bonds
The issuance of Sukuk bonds would be part of the government’s plan to borrow $13 billion from foreign sources during ongoing fiscal year Government would also issue local Sukuk bonds worth Rs400b
09/08/2019
Qatar- QFC joins Islamic Financial Services Board as associate member
Yousuf Mohamed al-Jaida, chief executive officer, the QFC Authority said, 'We are honoured to be admitted as a member of this prestigious international organisation.
09/08/2019
Whistleblower says bank has blood on its hands: RAF veteran claims Standard Chartered helped Iran terrorists, ahead of court battle
RAF veteran claims Standard Chartered helped Iran terrorists
09/06/2019
Qatar- Chidambaram sent to Tihar jail economic offenders' wing
The senior Congress leader, who was arrested by the CBI in the case last month and had undergone interrogation, will be lodged in Tihar Jail till September 19.
09/06/2019
Gulf economies: All that glitters is not gold
Qatar, in a counterintuitive strategy that has earned it the ire of the rulers of Saudi Arabia and the UAE, has sought to achieve the same goal by attempting to be on the right side of the region’s forces of change.
09/05/2019
BAB and Jordan bank discuss co-operation
During the meeting, BOJ applied for BAB membership and also announced its support for the 100th anniversary celebration of Bahrain’s banking sector .
09/05/2019
UAE federation highlights well-capitalised, highly liquid UAE banking sector
UAE banking sector remains well-capitalised, highly liquid, sound, and stable
09/05/2019
UAE banks well-capitalised, says UBF
System-wide capital adequacy ratio reached 17.5 per cent in 2018
09/05/2019
New Digital-Only Trade Bank Takes On The Establishment
Digital banks continue to evolve and grow.
09/05/2019
Warning: You have not won a prize ... it’s a scam; money exchange in UAE warns customers against scam messages
Customers received SMS and phone about winning major cash prizes