07/05/2018
King ratifies Bahrain-Egypt tax accord
The King also ratified and issued an amended law on co-operative societies.
Legal, Tax, Regulation & Compliance
07/04/2018
KPMG was a key witness as investment firm Abraaj unraveled
Investors have accused the Dubai-based private equity firm of using money from its funds for purposes that were not sanctioned
07/04/2018
Bank Nizwa unveils reduced property financing rate
Bank Nizwa’s property finance solutions offer customers a choice between the Ijara/Forward Ijara scheme
07/04/2018
Dubai investigates Abraaj over alleged mismanagement: sources
The DFSA declined to comment. Abraaj said in a statement discussions between it and the regulator were “ongoing.”
07/02/2018
Qatar’s foreign investment law could be a ‘game changer’
Before finalising their investment decisions they are keen to understand the exact details of the draft-law after its final nod.
07/02/2018
David Haigh trial opens in Dubai in dispute with Bahrain’s GFH Capital
Subsidiary of Gulf Finance House claiming $5m from its British former deputy chief executive
07/02/2018
Bahrain central bank's net foreign assets fall in May
The assets dropped to BHD671.1million ($1.78billion) from 779.4 million dinars in April.
07/02/2018
Kuwait’s cabinet resists pressure to tax expats’ remittances
The government had officially notified the parliament that it rejects demands to cancel decisions of increasing the fuel, electricity and water prices, according to local media.
06/29/2018
Landmark tax agreement to strengthen tax treaties enters into force with additional countries joining
The new signatures and the imminent entry into force of this landmark agreement underlines governments’ commitment to update the international tax rules and ensure they are fit for purpose in the 21st Century
06/28/2018
Gulf neighbours Kuwait, Saudi Arabia and the UAE will offer new aid to strengthen the country's "fiscal stability"
Meanwhile, a statement carried by the Saudi Press Agency said the countries are committed “to consider all options to support the Kingdom of Bahrain and to finalise an integrated programme".
06/28/2018
Hong Kong Seeks to Widen DLT Use in Trade Finance
The HKMA said under the cooperation agreement, it will collaborate with the FSRA to develop innovative financial technology projects, with a specific interest focusing on DLT utilization in international trade finance.
06/28/2018
DED Signs up With Adcb and Mashreq to Support E-Traders
The e-Trader licence allows Emiratis and GCC citizens aged 18 or above and residing in Dubai to conduct business across social networking sites.
06/27/2018
CI Capital signs Brokerage Services Agreement with Maybank Kim Eng
The collaboration aims to offer global institutional investors access to Emerging and Frontier markets spanning from MENA to Asia.
06/27/2018
Kuwait's Contribution to Asian Investment Bank’s Capital Approved
The bill was approved by Finance Minister Nayef al-Hajraf, who, during the discussion of the bill, said that the move would preserve Kuwait's right as founder of the bank, which he described as "the third largest development bank in the world.&a
06/27/2018
Abu Dhabi tax increase set to hit 2.3m expats
households will receive a municipality fees bill each month, in addition to water and electricity bills.
06/26/2018
Jury Hears Closing Arguments in Transition Fraud Trial
Ross McLellan, a former State Street executive in its transition management unit, now awaits the jury’s decision on charges of securities and wire fraud.
06/26/2018
HKMA signs fintech pact with Abu Dhabi - Hong Kong
The co-operation between the HKMA and the FSRA would strengthen the two authorities in their respective roles and initiatives in fintech.
06/25/2018
ADGM Launches Crypto Asset Regulatory Framework
The new ADGM crypto framework instils proper governance, oversight and transparency over crypto asset activities
06/22/2018
Here’s what you need to know about the new UAE banking fee regulations
It’s good news for homeowners and anyone with a credit card
06/22/2018
UAE regulator asks listed companies to declare exposure to Abraaj
Al Zaabi said some companies in the UAE had exposure to Abraaj, without naming them