04/03/2018
Kuwaiti Parliament considers bill to tax remittances
Government and central bank say fee would be counter-productive
Legal, Tax, Regulation & Compliance
04/03/2018
Dubai-based cryptocurrency sued by Chinese giant Alibaba
Company behind Alibabcoin subject to legal action in New York which seeks damages over trademark infringements
04/03/2018
Oman central bank eases capital, lending curbs in effort to boost growth
The capital adequacy ratio, the proportion of capital that banks must hold back from lending, was reduced to 11 percent from 12 percent.
04/03/2018
Emirates Development Bank Launches Emirates Movable Collateral Registry Corporation EMCR
A New Tool to Publicize Lenders' Rights in Movable Assets
04/03/2018
QCB backs 3-way merger of Qatar Islamic banks
Sheikh Abdulla said Qatari public prosecutors and the QCB were investigating the attempts at currency manipulation and would announce the results of the probe as soon as it was completed.
04/02/2018
UAE banks may hike fees to offset additional VAT costs
As per the law, most financial services are VAT exempt in the UAE.
04/01/2018
The Arab Monetary Fund publishes "Central Bank Background Papers on Monetary Policy Frameworks in the Arab Countries"
The purpose of the meeting was to exchange views on the implications of global economic developments on monetary and financial policies of the Arab region.
03/29/2018
Saudi Arabia to Join FTSE Emerging Market index
Move expected to attract billions in investment in major boost to kingdom's reforms
03/29/2018
Taxing expat remittances is legal: Ashour
Head of the committee MP Salah Khorshid said recently that the committee will soon make a decision to select one of the four proposals it is considering for introducing the charges.
03/29/2018
Jersey and Abu Dhabi sign financial collaboration agreement
The partnership reinforces ADGM’s commitment, as an international financial centre to enhance and build stronger collaborations with company registries in other jurisdictions.
03/28/2018
Kuwait government agrees with proposal to tax expats’ remittances
Fees might have negative impact on attracting skilled labor to Kuwait
03/28/2018
Saudi crown prince signs MoU with SoftBank to set up world's largest solar project
It is set to produce 200 gigawatts in Saudi Arabia - enough to power 140 million homes, according to reports.
03/28/2018
Turkey: Proposed Amendments To Automatic Enrolment In Private Pension Plans System
The provisions entered into force on 1 January 2017 but the regulation is applied gradually depending on the number of employees working at an employer.
03/27/2018
Dubai adviser closes wealth management division
A Dubai International Finance Centre based financial adviser is closing its wealth management division.
03/26/2018
Tax ruling offers alternative tax treatment for foreign investment corporations
For funds that do not fulfill the conditions for tax exemption (typically, small funds with few investors), the ITA has applied an alternative arrangement known as the “small funds tax arrangement.”
03/26/2018
NBO announces 20 per cent dividend on back of strong performance
The bank’s solid performance, despite the challenging economic climate in 2017, was clearly evident in its financial report.
03/26/2018
K&L Gates advises Al Rayan, Amwal on landmark ETF launch
On the listing of Al Rayan’s exchange traded fund (ETF) in Qatar, understood to be both the first Qatari Sharia’h-compliant ETF and the largest single- country Sharia’h-compliant equity ETF in the world
03/26/2018
Global law firm named best law firm in Oman, Jordan and Kuwait
They hav been awarded "Best Law Firm" for Oman, Jordan and Kuwait at the 10th annual EMEAfinance Middle East Banking Awards 2017.
03/26/2018
Finance panel to review proposal to tax expat remittances
He said the topic will be subjected to further study with the finance minister.
03/26/2018
ADFD signs deal with Export-Import Bank of Korea
Deal is part of programme to enhance competitiveness of UAE exports