08/13/2018
Israel’s richest woman questioned for hours in suspected Africa bribery case
Shari Arison denies wrongdoing amid suspicions of pay offs to foreign government reps; tycoon released but prohibited from leaving the country
Legal, Tax, Regulation & Compliance
08/10/2018
Hong Kong, Singapore join global reg initiative
As part of the consultation, the group is seeking views on the mission statement for the GFIN, its proposed functions, and where it should prioritise activity.
08/09/2018
UAE's RERA, Dubai Commercial Bank sign agreement
Escrow account management services to Owners’ Association communities in Dubai.
08/09/2018
Nirav Modi spotted in Dubai, may be in Egypt now
Officials stated that sending an extradition request involves legal process so they opt for it only after obtaining authentic information about the suspect’s whereabouts.
08/08/2018
Downgraded Bahrain banks to find funding expensive
Moody’s links bank ratings and outlook to recent sovereign downgrade
08/08/2018
Middle East Demand for World Bank Financing Rises to $6.3BN in 2018
The record commitment included US$5.9bn from the International Bank for Reconstruction and Development, which supports development in middle-income countries
08/07/2018
Saudi Arabia’s Spat With Canada Risks Backlash From Investors
Diplomatic dispute will also affect Saudi students currently in Canada
08/07/2018
Turkish lira drops further as central bank injects liquidity into financial sector
Currency fall accelerates despite bank’s intervention
08/06/2018
Germany tightens cash transfer rules as Iran seeks funds
Berlin regulators block repatriation to Tehran of some $350m held in European-Iranian Trade Bank ahead of US reimposition of sanctions
08/03/2018
Stellar Lumens Gets Official Approval from Bahrain Central Bank as Sharia Compliant
The announcement also passed the official message from the foundation which stated: “we advance our mission of financial access and inclusion by obtaining a Sharia compliance certification for the Stellar technology and network.
08/03/2018
Dubai seeks to launch a ‘Court of the Blockchain’ to verify judgments
The Dubai International Financial Centre has partnered with Smart Dubai to create the world’s first Court of the Blockchain, which will aid verification of court judgments for cross-border enforcement.
08/01/2018
Stellar approved as ‘Sharia Compliant’ by the Central Bank of Bahrain: XLM/USD resumes the uptrend
Stellar.org can now show the Sharia compliance certification on its website.
08/01/2018
Lebanese and Iraqi authorities bust fraud ‘mafia’ that targeted Beirut bank
Several members of the fraud gang have been arrested
08/01/2018
Founder of Middle East's Abraaj faces fresh criminal action
"The accused has already reneged on what was promised," Essam al Tamimi, Jafar's lawyer, said in a statement.
07/31/2018
Dubai Plans to ‘Disrupt’ Its Own Legal System with Blockchain
The DIFC said the goal is to employ a network based on blockchain and smart contracts to allow different courts to share information in a decentralized manner.
07/31/2018
Moci To Review Laws On Establishing Realty Cos
The documents should be stamped by the embassies of the concerned countries where the property will be floated while designating local and overseas banks to deal with.
07/30/2018
SAMA inks agreement with Monami Tech's Award Winning Digital Lending Platform Lendme
Landmark announcement for both SAMA and Monami Tech
07/30/2018
GFH Capital creates strategic partnership for the Entertainer
Al Futtaim Group and Al Zarooni Investments are the most prominent strategic partners of GFH
07/27/2018
Moelis & Co to apply for Saudi advisory licence -sources
New York-based boutique investment bank is expected to apply for a licence from the country's Capital Market Authority (CMA)
07/25/2018
Seven years on: The effects of the UK Bribery Act on the Middle East
Businesses that are subject to the UKBA must ensure that the risks of such payments are mitigated. Procedures should be proportionate, taking account of regional risks.