01/03/2018
New draft law on foreign investment to boost economy
The draft law was prepared by the Ministry of Economy and Commerce after examining the best international and regional practices in this regard.
Legal, Tax, Regulation & Compliance
01/03/2018
Banker From Turkey Is Convicted in U.S. Over Plot to Evade Iran Sanctions
The case was followed closely in Turkey, where the government was already angry at the United States for giving shelter to a cleric Mr. Erdogan says was behind a coup attempt in 2016.
01/02/2018
No VAT on ATM withdrawals in Saudi Arabia
There will not be any VAT on withdrawals from ATMs of customer’s bank or any other bank: official
01/02/2018
Qatar plans central Shariah committee for Islamic banks
A recent report by the World Bank and the Bahrain-based General Council for Islamic Banks and Financial Institutions suggested further action by regulators to strengthen the sector’s governance
01/02/2018
S. Arabia, UAE levy VAT in first for Gulf
They are the latest in a series of measures introduced by Gulf oil producers over the past two years to boost revenues
01/01/2018
Financial Conduct Authority delays rule change for Saudi Aramco’s $2 trillion listing
This would enable Saudi Arabia to choose London as the main international venue for its initial public offering of Aramco, its state oil giant.
01/01/2018
Federal Financial System becomes VAT compliant
Ministry of Finance ready to manage all financial transactions related to value-added tax
12/31/2017
Qatar central bank’s international reserves, liquidity rise in November
The reserves and liquidity, a measure of the central bank’s ability to support the riyal currency
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
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.