09/26/2023
The Tax Benefits of using a UAE Free Zone Company as a Holding Company
The ItalianCo is considering transferring its ownership in MoroccanCo to a wholly-owned holding entity located in the United Arab Emirates (“UAE HoldCo”).
Legal, Tax, Regulation & Compliance
09/26/2023
Banking Transparency Under the Spotlight: Kuwait Central Bank issues guidelines
In this regard, the Central Bank of Kuwait stated that banks must fulfill due diligence requirements to verify the integrity of the funds and information available to them
09/25/2023
CBB issues the first Investment Business Category 4 license to BAGS Capital
Caters for the business models of specialist fund managers who operate, manage, and market CIUs exclusively for accredited investors
09/22/2023
Federal Tax Authority collaborates with Umm Al Quwain Chamber to promote tax culture among business sectors
The collaboration forms part of the strategic plan to raise awareness about tax legislation and highlight compliance requirements.
09/22/2023
Saudi Arabia’s climate envoy meets ministers, officials at UN General Assembly
Discussions were held on how to deal with the effects of climate change
09/20/2023
Minister of Finance meets with Governor of Swiss National Bank
During the meeting, they discussed a variety of topics essential to the shared interests of both parties
09/19/2023
Bahrain Central Bank issues new investment licenses to expand scope for family offices
Central Bank of Bahrain brings in new category for investment firms
09/19/2023
KBBO Group restructuring receives creditor and court approval
Deloitte is acting as trustee of the group and is overseeing the restructuring process.
09/18/2023
Saudi's SAMA licenses two insurance aggregation companies
With Al-Tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia
09/18/2023
Banks operating in Egypt record EGP 126.9bn of net profits in 1H 2023
The banks operating in the Egyptian market achieved a net profit of approximately EGP 126.910bn by the end of the first half of the current year (1H 2023).
09/15/2023
Alvarez & Marsal joins Middle East's tax advisory landscape
The Middle East’s tax landscape is continuing to evolve at unprecedented pace, with both the reform of existing tax regimes and introduction of new taxes.
09/14/2023
Credit card fraud costs global economy $32bn, says AMF
The increase in losses is forcing banks to leverage cutting-edge technologies to detect and analyse fraudulent transactions
09/12/2023
New Family Business Law - Bolstering Family Businesses in the UAE
The New Family Business Law is in effect now and applies in all Emirates and free zones of the UAE.
09/11/2023
Employers offered alternative end of service benefits scheme in the UAE
Employers can opt to invest and save their employees’ end of service gratuities through these funds on their behalf, according to various investment options.
09/11/2023
Oman Arab Bank and Omran Group announce strategic partnership
For sole financing of Nikki Beach Resort & Spa Muscat
09/11/2023
Qatar and Malaysia forge partnership to strengthen financial markets
The agreement seeks to develop the financial market’s infrastructure, enhance standards in sustainability, and foster best practices in capital markets.
09/07/2023
UAE employers must take proactive approach to ‘Emiratisation’ expansion
By encouraging businesses to hire and train local talent, the UAE aims to reduce reliance on foreign workers and bolster its economic development.
09/06/2023
Bank of Sharjah acts as mandated lead arranger in a $500mln financing for the Govt. of Sharjah
This six-year dual-tranche (conventional & Islamic) facility will be used for general corporate purposes.
09/06/2023
Saudi banks see marginal profitability gains amidst slight decline in net profit: Alvarez & Marsal
Growth in net profit at the top 10 banks slowed to 0.3 percent quarter-on-quarter (QoQ) in Q2’23 despite a significant drop in impairment charges
09/05/2023
Saudi Arabia and Italy to sign 18 cooperation agreements across various sectors
During the speech, Al-Falih invited Italian firms to come and operate in the Kingdom, noting that 150 licensed companies from the European nation are already functioning in Saudi Arabia.