05/16/2019
UAE makes plans for expat retirement benefits fund
Government hopes system will ‘provide employment opportunities for new generations’
Legal, Tax, Regulation & Compliance
05/16/2019
Turkey raises forex sales tax in another support for lira
The BSMV tax would remain zero for transactions between banks, with the Treasury, and for those repaying foreign-currency loans to banks.
05/16/2019
UAE central bank injects $2bn as bank deposits drop
Central Bank's role is to maintain financial stability, regulate cash flows
05/16/2019
New system to boost UAE finance sectors's integrity
The new system "will not affect the customers of banks since it is not applicable to them", the central bank said.
05/15/2019
CBK sends cautionary note to some auditors
The sources pointed out that the message of the Central Bank
05/15/2019
Kuwait, Iraq Sign Deal to Avoid Double Taxation
It was signed by Undersecretary of the Kuwaiti Finance Ministry Saleh Al-Sarawi and his Iraqi counterpart Maher Johan.
05/14/2019
Dubai plans single licence to operate in all free zones
Dubai Free Zones Council members reach preliminary agreement on the One Free Zone Passport initiative
05/14/2019
Proven APIs Hold the Key to Open Banking Success in Bahrain
Given the pressures, the temptation is to think purely in terms of compliance.
05/14/2019
UAE firms outpace MENA peers in sustainability initiatives: Survey
Tackling sustainability-related challenges could save the global economy up to $30 trillion
05/14/2019
How to give to charity legally in the UAE
Residents can only donate to registered organisations and fundraisers must obtain the necessary approvals
05/14/2019
DIFC offering Dh16.5 million prize to UAE residents, financial community?
Authority addresses claims another multi-million dirham winnings up for grabs
05/14/2019
Qatar Islamic Bank signs an agreement with Qatar Red Crescent Society
The agreement was signed by QIB's Board Member and Head of Zakat Committee, Mr. Mansour Al Muslah, and QRCS Secretary-General, Mr. Ali bin Hassan Al-Hammadi.
05/13/2019
Path Solutions and Infrascale announce partnership agreement
Path Solutions will offer Infrascale’s Disaster Recovery solutions to its existing and potential clients.
05/13/2019
Mada Capital signs for Profile Software Axia
MADA Capital is a financial group based in Dubai, providing financial services and advisory including asset management, fund management and growing wealth for individuals, family offices and institutional investors through tailor-made solutions and global
05/13/2019
Oman establishes credit rating agency
Oman's credit rating agency will collect individual and company data related to loans, delays and defaults
05/13/2019
Turkey presses banks to agree high-stakes bailout of bad energy loans
The stakes are very high as Turkey takes the first of several steps needed to emerge from recession
05/09/2019
Australia's Macquarie downsizes in the Gulf: sources
In the UAE, the Australian bank is downsizing its operations in Abu Dhabi, sources familiar with the matter told Reuters.
05/09/2019
Bahrain receives first instalment of Gulf aid, expects deficits to fall
The Gulf kingdom said is set to receive further payments of $1.76 billion in 2020, $1.85 billion in 2021, $1.42 billion in 2022 and $650 million in 2023.
05/09/2019
CBK rejects Warba Bank merger with KMEFIC
CBK said that Warba Bank acquisition of AUB’s stake in KMEFIC will not have a significant effect on the financial position of the lender.
05/09/2019
Saudi Shura Council approves 'green-card' residency scheme for expats
Under the system, which requires a guarantee of specific fees, there are two categories: An extended iqama and a temporary one.