09/04/2017
BPL Global opens for business in Dubai
The leading credit and political risk insurance broker has obtained a brokerage license to allow it to undertake insurance intermediation in the Dubai International Financial Centre.
Legal, Tax, Regulation & Compliance
09/03/2017
UAE to maintain interest rates 'until 2018' - report
Central bank expected to keep 2 percent benchmark rate for rest of the year
09/03/2017
VAT could emerge a cost centre for banks irrespective of rates
In VAT exempt categories, banks will have only limited recourse to input tax refunds
09/02/2017
Economists tangle over risk of a Greek-style collapse in Turkey
As of August 11, loans had risen 13% this year to $522bn, according to Turkey’s banking regulator.
08/31/2017
UAE’s credit growth turns positive, but credit demand remains weak
Non-resident and government segment drives deposit growth
08/31/2017
IMF Expects Moderate Qatar Slowdown Due to Gulf Trade Disruption
Authorities reacted quickly to the spat with Qatar’s neighbors, limiting the fallout by finding alternative sources for imports and ensuring key infrastructure projects aren’t disrupted.
08/30/2017
Leading advisers predict new UAE rules will cull firms by 50%
Howell said this may lead to brokers moving to enhance and augment their services with ‘value-adds’ such as tax advice and other extras
08/30/2017
Turkish participation banks' profit soars 36 pct in first half
It is possible to say that when we exclude the damage of a participation bank exiting from the sector.
08/30/2017
Criminal Probe of Former Bank Execs Worries Other Israeli Bankers
Probe of Bank Leumi's has not gone unnoticed in Hapoalim, Tefahot, both still in midst of investigation by U.S. authorities on allegations that they, too, enabled customers to evade taxes
08/30/2017
Banque Misr, Egypt Post, Visa sign to co-ordinate in digital financial services
The agreement includes integration of traders in financial coverage system and provision of ATM machines at the post office
08/29/2017
Swiss private bank hands to investigators documents related to UAE ambassador linked to 1MDB and Jho Low
Yousef allegedly has a financial link to Jho Low, the Malaysia businessman whom US prosecutors believe masterminded the illicit trail of state money into private coffers.
08/29/2017
Europe accounts for 37% of Qatari banks’ cross border funded liabilities, says QCB
Britain’s exit from the EU or Brexit will have wide range of implication to global economy including the GCC economies, the report said.
08/29/2017
Saudi Arabia has lost $250 billion in three years
The figure has also showed a 12.4 per cent decline compared to a year ago.
08/29/2017
U.S. watchdog may fine Habib Bank, Pakistan's biggest lender, up to $630 million
The DFS said in a filing that its investigation had found that HBL held a U.S. clearing account with Saudi’s largest private bank Al Rajhi, which has been linked in the media and by the U.S. Senate to Al Qaeda and the financing of extremism.
08/29/2017
Over 80 firms for Middle East franchise expo
The event will also cover workshops and seminars offering insights on legal, financial and entrepreneurial aspects.
08/28/2017
Central Bank of Iran Assigns Sukuk Trading to Capital Market
The government started issuing bonds for its debts to contractors in 2015 and they were exclusively traded on the over-the-counter market Iran Fara Bourse
08/28/2017
Bank employees pocket $10m in bribes
The developer counterfeited data in 15 facilities and guarantees’ transactions by filling in data in favour of ineligible individual applicants and companies.
08/28/2017
DFSA and Hong Kong’s SFC sign FinTech Cooperation Agreement
It intends to catalyse growth and efficiency in a variety of areas including trade finance, alternative finance and Shari'ah-based services.
08/24/2017
Qatar Banks Seek Asian, European Funding as Diplomatic Crisis Bites
One of the sources added that QNB, which is the Middle East's largest bank, was also considering private placements in other Asian markets.
08/24/2017
New LIA chief wants UN to introduce “smart sanctions”
The new LIA chairman Ali Hassan Mahmoud has begun a charm offensive to gain backing for the smart sanctions scheme.