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Legal, Tax, Regulation & Compliance

05/28/2019

Notice From The UAE’s Securities And Commodities Authority Regarding Unlicensed Companies And Fictitious Entities Claiming To Have A License From The Authority

The SCA would also note that some companies have been spotted stating in their websites that they are licensed by the SCA and/or by other regulatory authorities within the UAE. However, they were found unlicensed.

05/28/2019

UAE property market needs new financing rules

Authorities should consider raising age limits for mortgage borrowers

05/27/2019

UAE’s SCA warns against forged licenses by financial firms

Market authority says many companies found to have fake certificates to lure investors

05/24/2019

GCC bond, sukuk issuance surges by $32bn in Q1

National Bank of Kuwait report says outstanding debt in the region has been lifted to $478bn

05/24/2019

The DIFC's New Defined Contribution Scheme

The new DIFC Scheme is proposed to come into force on 1 January 2020.

05/23/2019

Saudi Arabia, UAE to attend Palestine investment meeting

The plan is likely to call for billions of dollars in financial backing for the Palestinians.

05/23/2019

UAE Monetary Base Up To AED386 B In April

The UAE monetary base increased to circa AED386 billion by the end of April, 3.5 percent up from AED373 bn one month earlier

05/23/2019

Banking law amendments for capital requirements could trigger profit retention, M&As: Pharos

Furthermore, the report indicates that if the law is approved, the CBE may give banks up to three years to comply and by that time, all banks under our coverage that fall below the require minimum would have already built an adequate capital base from pro

05/22/2019

Andersen Global Signs First Agreement in Bahrain

The environment in Bahrain is changing, especially with the implementation of VAT earlier this year.

05/22/2019

Deloitte: Construction Hitches in the GCC Lead to Calls for Positive Change

Market participants are eager to see positive change in the industry – not least through more-balanced contractual relationships.

05/22/2019

UK minister for Middle East hails Egypt’s economic reforms

Murrison and Adel also tackled developments and escalations in the Middle East during their meeting.

05/22/2019

Saudi court accepts AHAB's bankruptcy filing, rejects liquidation - sources

The bankruptcy filing was seen as a key test of Saudi Arabia's new law for handling insolvency disputes

05/21/2019

DCI sleuths in Dubai, Kenya late loan payments, Handshake kills NGOs: Your Breakfast Briefing

The stories making headlines in the Star this morning.

05/21/2019

How Will Brexit Affect the Middle East and North Africa?

A few days before the referendum in 2016, Global Risk Insights published a list of four effects of Brexit on the Middle East and North Africa.

05/21/2019

Afghanistan closes Iran-backed bank, citing regulatory violations

Arian Bank was one of more than 50 Iranian banks hit with US sanctions in November

05/21/2019

How Latin American trade with UAE will be enabled by Panama

Faced with unpredictable markets closer to home, businesses in Dubai are setting their sights on faraway Latin America

05/21/2019

Palestinian businessmen reject invite to US ‘peace’ workshop in Bahrain

Palestinian businessman Ibrahim Barham said he has received an invitation to participate in the workshop, adding that he will not participate without a national decision.

05/20/2019

Saudi Arabia fines 16 banks, including UAE bank

The regulator said the decision will also ensure fairness and competitiveness of financiers and to maintain efficiency of procedures and mechanism in this regard.

05/20/2019

UAE gov't proposes end-of-service employee fund for expats

Under the current system, employees leaving a UAE-based organisation receive a gratuity payment after completing a minimum of one year of service.

05/20/2019

ADNIC partners with FAB to offer customers new payment options

The secure, low-cost tool will help to streamline payment collection and provide customers with a convenient alternative to cash.

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