02/07/2018
Bahraini Bank, Investment Co. Can’t Dodge Ch. 11 Suits
U.S. Bankruptcy Judge Sean H. Lane found that Arcapita's creditors can seek to retrieve $30 million in investments in Bahrain Islamic Bank and Bahrain-based Tadhamon Capital BCS
Legal, Tax, Regulation & Compliance
02/05/2018
UAE's Abraaj hires KPMG to look into healthcare fund after reported row with investors
The investors included the Bill & Melinda Gates Foundation, the World Bank's International Finance Corp unit.
02/05/2018
ADSI granted financial services permission by ADGM
On the 7 December 2017, ADS Securities incorporated a new subsidiary, ADS Investment Solutions Limited, in the Abu Dhabi Global Market.
02/05/2018
75 UAE bank branches shut in digital drive
Number of bank branches decreased during 2017 after the merger of NBAD and FGB
02/04/2018
Crackdown concern: Saudi corruption purge could lead to greater investor caution
"While it could dissuade some high-net worth individuals to engage in corrupt behaviour, we believe that it will not reduce generalised corruption in the administration,"
02/04/2018
Dubai's Abraaj denies it misused Bill Gates money
Reports from New York suggest that investors in a $1bn healthcare fund have hired forensic accountants to find out
02/04/2018
The battle of Gulf banks for Turkish market
The lenders in the Middle East are trying to boost their presence in Turkey through acquisitions and licenses as they face limited opportunities for home expansion.
02/04/2018
BD30 million portfolio to spur SMEs growth
The programme comes in line with the enterprise support efforts to spur economic growth in the Kingdom as well as the private sector.
02/01/2018
Bankers win ‘$10m bribery’ case
The developer counterfeited data in 15 facilities and guarantees’ transactions in favour of ineligible individual applicants and companies. The officer, the salesman and the fugitive abetted this.
02/01/2018
Al Tamimi releases latest DIGC business guide
It also incorporates in-depth explanations on recent changes to the DIFC Courts Systems and arbitration procedures currently in place.
02/01/2018
WUAB stresses human element in raising productivity
He also stressed the keenness of WUAB in developing human resources, especially with the increasing movement of migrant workers between institutions according to supply and demand.
02/01/2018
Gulf finance institutions' interest in Turkish banking sector continues
Interest in the Turkish banking sector continues in the Gulf countries, which have invested billions of dollars in finance, retail, health, defense, tourism and real estate sectors.
01/31/2018
UAE’s Federal National Council approves draft finance leasing law
Any previous contracts signed without a licence from the central bank will be considered void
01/31/2018
Rogue financial adviser convicted by Dubai court in landmark case
Investors claim they lost hundreds of thousands of dirhams each when Brit Neil Grant put their money into high risk investments
01/31/2018
Breakthrough in Removing Iran-China Banking Hurdles
The closures were attributed to new pressures from Washington and also more stringent ant-money laundering measures adopted by Chinese lenders in line with the Financial Action Task Force requirements.
01/31/2018
Saudi Arabia’s corruption crackdown risks scaring off investors
Crown prince Mohammed bin Salman is combining populism at home with hawkishness abroad
01/31/2018
Monetary deposits spur money supply
The increase in M1 was mainly due to a rise of Dh1.9 billion in monetary deposits.
01/30/2018
Kuwait committee rejects tax on remittances
Proposal to tax foreigners for money transfer is ‘unconstitutional’
01/29/2018
Japan bank: Saudi purge is driving away investors
His decision to imprison some of the country’s most famous heads of business came under extreme scrutiny.
01/29/2018
Saudi central bank bans MedGulf from issuing new insurance contracts
It has suspended several insurance companies from issuing new policies in the past few months.