10/28/2018
Barclays avoids trial over £6bn Qatar rescue package
Court rules against reinstating charges brought by Serious Fraud Office against bank
Legal, Tax, Regulation & Compliance
10/26/2018
SC seeks details of 20 individuals with properties in UAE
The attorney general told the bench that the government could not arrest those who did not disclose their foreign properties, but the chief justice said the judiciary could at least ask them about the properties.
10/26/2018
NYC pension fund leader asks index providers to reconsider Saudi Arabia
“Saudi Arabia has demonstrated a disdain for the rule of law and international norms of due process and human rights,” creating risks for investors, he wrote.
10/25/2018
Dubai firm owner tries to swindle Dh5m from business partner
The Dh5 million in question was wired as part of a purchase deal of precious stones.
10/25/2018
Saudi Arabia will not penalize banks that boycotted conference: central bank chief
The governor also reiterated the country’s commitment to defend the Saudi riyal’s peg to the dollar
10/24/2018
2 men try to steal boxes of gold from UAE Central Bank
They had presented documents seeking five boxes of gold they claimed to have deposited.
10/24/2018
Mohammed bin Rashid Fund and RAKBANK reaffirm partnership
SMEs to get preferential rates and access to RAKBANK Business Banking products
10/23/2018
Serious Fraud Office presses for criminal charges to be reinstated against Barclays
The Serious Fraud Office is pressing to get criminal charges reinstated against Barclays related to its capital raising arrangements at the height of the financial crisis.
10/23/2018
Oman mandates banks for 7-year dollar sukuk sale
Gulf International Bank, HSBC, JPMorgan, KFH Capital and Standard Chartered Bank have been mandated as joint lead managers
10/23/2018
Dubai's Tabarak Investment Capital signs commodity trading agreement
Company to partner with Kuwaiti-owned Elite Petro & Gas
10/23/2018
Bank Muscat’s Izdihar extends GCC footprint
The acquisition marked the first purchase agreement with Dubai-based Binghatti Developers.
10/22/2018
HSBC Joins Hands with MRMWR to Restore AFLAJ Across Sultanate
The programme is part of HSBC’s US$150mn global Water Programme launched in 2012 to support areas that are vulnerable to the impacts of climate change.
10/22/2018
Japan's Biggest Bank CEO Joins Exodus From Saudi Forum
Pulls out after Saudi Arabia acknowledges dissident’s killing
10/22/2018
U.S., Israel Expected to Announce Talks on New Bilateral Tax Deal
The U.S.-Israeli agreement is outdated, and contain some of the highest tax rates in the world, at a higher rate than U.S. bilateral agreements with other nations
10/22/2018
Banque Saudi Fransi augments Sharia compliance with SRB
Sharia audit is often the most labour-intensive stage of the Sharia compliance management process.
10/21/2018
New employee insurance scheme takes effect in UAE
A new low-cost employee insurance scheme began in the UAE this week, replacing a previous scheme which required expatriate workers to provide a AED 3,000 (approx. $816) bank guarantee when applying for a work permit.
10/18/2018
Investors panic as Heera Group chairperson is arrested in India
Heera Group was offering 35% returns on investment, investors say
10/18/2018
Knight Frank signs knowledge partner MoU with Dubai Land Department
As part of its efforts, the DLD recently signed an agreement with global property consultancy Knight Frank.
10/18/2018
Bank Muscat, Ominvest ink financing pact
The credit facility is aimed at creating a stronger capital structure and long-term liquidity for Ominvest.
10/18/2018
British citizens to get 5-year Saudi visas
The new law will come into force once all necessary legal procedures have been completed by the contracting parties