12/28/2017
Saudi businessman in debt dispute reportedly released from detention
Al-Sanea had been detained in the Eastern Province since October for unpaid debts reaching into the billions
Legal, Tax, Regulation & Compliance
12/28/2017
Money laundering: AB Bank ex-chairman M Wahidul Haque at ACC
The Anti-Corruption Commission started interrogating former chairman of AB Bank M Wahidul Haque this morning over “laundering Tk 165 crore” to UAE
12/28/2017
Footballers ‘prefer’ Turkey due to low income tax rate
Income tax rate for athletes participating in Turkish Super Lig is 15 percent
12/28/2017
ACC summons ex-chair, MD of AB Bank
Former managing director M Fazlur Rahman has been given schedule at 9:10am, he added.
12/28/2017
Saudi foreign reserves rise in November for second straight month
It was the first time since mid-2014 that the reserves rose for two consecutive months.
12/28/2017
Egypt's central bank keeps interest rates unchanged
The overnight deposit rate remained 18.75% and the overnight lending rate at 19.75%
12/27/2017
Qatar banks to prepare for Basel IV requirements
This is significant and relevant in countries like Qatar, where the QCB requires them to calculate regulatory capital using the Basel standardised approaches.”
12/27/2017
Many wealthy women seek legal loopholes to disinherit husbands
An informed source told Al-Watan that he was aware of several women with assets worth millions of riyals had approached law offices seeking legal counsel on ways to deny inheritance to their husbands in the event of their death
12/27/2017
Footballers ‘prefer’ Turkey due to low income tax rate
Income tax rate for athletes participating in Turkish Super Lig is 15 percent
12/27/2017
Saudi Arabia releases 23 high-level ‘corruption’ detainees
The suspects have been held at Riyadh’s luxurious Ritz Carlton hotel since early November and told to hand over assets and cash in exchange for their freedom.
12/26/2017
SCA gives nod to Ithmaar for DFM listing
Ithmaar is currently listed on the Bahrain Bourse and Boursa Kuwait
12/26/2017
Qatar banks need to prepare for Basel IV requirements: KPMG
This is significant and relevant in countries like Qatar, where the QCB requires them to calculate regulatory capital using the Basel standardised approaches.
12/26/2017
Israel regulator seeks to ban bitcoin firms from stock exchange
Shmuel Hauser, the chairman of the Israel Securities Authority (ISA), told the Calcalist business conference he will bring the proposal to the ISA board next week. If approved, it would be subject to a public hearing and then the stock exchange bylaws wou
12/26/2017
CH9 partners up with one of the largest law firms in the Middle East, find out who!
The collaboration between Al Tamimi and CH9 was announced at Bahrain’s recent three-day workshop, Seedstars MENA 2017.
12/26/2017
Kuwait, Oman postpone Value Added Tax until 2019
Saudi Arabia and the United Arab Emirates have already decided to put the tax into practice by Januray 1, 2018.
12/22/2017
Ex-Embraer exec pleads guilty in Saudi bribes case
British national living in the UAE admits to charges of foreign bribery, wire fraud, money laundering and false statements
12/21/2017
Sharjah Ruler orders Dh600m increase in salaries of govt staff
While all grades below 8th have been cancelled, an employee may remain on the same grade for a maximum of six years
12/20/2017
Maltese law firm confirms Erdoğan company offshore bank account
Shipping firm owned by Turkish leader’s brother-in-law opened account in Malta
12/20/2017
EIB, Arab Bank sings EUR 300 million deal to support SMEs
The finance agreement is the first EIB’s regional credit line for small and medium businesses in the selected countries.
12/20/2017
Qatar Central Bank launches legal probe into manipulation
Several financial institutions and individuals have been asked to preserve documents that may be needed in future legal action.