10/02/2017
Saudi market regulator loosens asset management rules
An ambitious reform plan to diversify the Saudi economy beyond oil.
Legal, Tax, Regulation & Compliance
10/02/2017
UAE banks’ credit, deposit growth dips in August
Corporate credit growth remains positive with improving project awards
10/01/2017
World Bank to Triple Funding to Egypt to $US 1 Billion, Focus on Renewable Energy
IFC’s decision to expand funding to Egypt comes against the background of the country implementing a large-scale IMF economic reform program
10/01/2017
Resolving bank fraud a lengthy process for UAE customers
Two Abu Dhabi residents reveal the journey they took to secure a refund after being targeted by fraudsters
10/01/2017
GGICO signs debt restructuring with Creditors Dubai
“Driven by market conditions, we have obtained enough time until 2023 to dispose of our non-core assets in an organised and structured manner and to retire the debts. Subsequently, the company will focus on its core assets with very low leverage&
09/28/2017
Imminent Activation of Yemeni Outward Transfers via Domestic Banks
The first was represented in contacting the other party and second tackling all US concerns and responding to all remarks.
09/28/2017
Saudi Arabia's regulator set to ease share listing, M&A with new rules
Regulations will simplify the time taken to float a company in the kingdom
09/27/2017
Calypso lands IT overhaul deal with Invest AD
Calypso is a robust platform that we can leverage for more functionality in the future
09/27/2017
Ex-Barclays banker Boath pay row set to restart
The pay dispute is due to be heard at the East London employment tribunal on October 11-13, according to schedule details released on Wednesday.
09/26/2017
Creditors tell High Court that Dana Gas sukuk get-out is "absurd"
Mudarabah is a sukuk structure which resembles an investment management partnership.
09/26/2017
Dubai signs deal to create digital currency emCash
Emcredit, a subsidiary of Dubai Economy, and UK-based Object Tech Group Ltd will work together on new technology
09/26/2017
Emirates NBD calls on central bank to ease restrictions on mortgage lending
CEO says housing loans should be treated separately from wider exposure to property and construction sectors
09/25/2017
Central Bank says money supply drops 1.5% in July
Foreign assets were down in July by seven percent standing at KD 2.2 billion.
09/25/2017
Saudi central bank suspends three currency exchange houses
The three privately-held companies largely provide the ten million expat workers in Saudi Arabia for money transfers and currency exchange.
09/25/2017
Saudi Arabia hires banks for third international bond
Saudi Arabia could issue up to $10bn, banking sources said
09/25/2017
Modi’s ambitious infrastructure fund NIIF to get up to $5 to 10 bn first investment; know details here
Ending a hiatus since it was launched more than two years ago, the much-touted National Investment and Infrastructure Fund (NIIF) is close to its first major deal.
09/25/2017
UAE central bank withdrawal of excess cash from banking system signals recovery, analysts say
Central bank withdrew Dh11.3 billion of banking liquidity in July and August
09/25/2017
Winner of inaugural IFN Law Award for FinTech
IFN highlighted the firm’s standing in the Islamic finance market and how Simmons & Simmons has ensured its FinTech expertise has benefitted clients in this area.
09/24/2017
DAFZA enables customers to obtain dual licenses to operate across Dubai
The agreement aims to strengthen cooperation on initiatives targeting all aspects related to providing economic support for DAFZA’s main services.
09/24/2017
‘Database’ of 118 local firms compiled so far under FATCA
The US tax authority received date for 2015 which includes more than 24 thousand files.