07/25/2017
Epic Saudi fraud trial coming to a close in Cayman court
The Cayman trial revolves around the claim from the Al-Gosaibi family that it was the victim of a $9.1bn fraud conducted by Al-Sanea
Legal, Tax, Regulation & Compliance
07/25/2017
Saudi Arabian Monetary Agency says foreign assets close to SAR 2 trillion
The third category of SAMA’s foreign assets are in the form of bullion and cash which were SR245 billion representing about 13.2 percent.
07/25/2017
Dubai DIFC a hit with Chinese, Indian financial firms
Recent changes to domestic regulations in India, and the India-Mauritius tax treaty, mean that Indian asset managers are seeking alternative fund juristictions.
07/23/2017
Nawaz Sharif rejects JIT charge of hiding UAE employment
The JIT has recommended that the report's Volume-X should be treated as confidential as it contains details of correspondence with other countries.
07/23/2017
UAE Central Bank posts sharp rise in foreign currency supply
The bank said growth in bank balances and deposits overseas were the driving forces behind the rise
07/21/2017
Abu Dhabi’s Qannas Investments to buy back $8m worth of shares
The company says it plans to exit all of its current investments over the next two years and return the excess cash to shareholders
07/20/2017
Shuaa Capital finalises deal to buy two financial outfits
Integrated Capital and Integrated Securities in deal
07/20/2017
Nawaz Sharif is an employee of an offshore company in Dubai: Khaleej Times
The company, Capital FZE, was unearthed by the JIT probing money laundering allegations against the Sharif family.
07/20/2017
Assets of 13 listed UAE banks surge to $383billion in H1 2017
The growth witnessed by the UAE banking sector translates the bullish trend in the UAE markets and reflects a positive outlook for the coming period of the year.
07/20/2017
Supreme Court registrar received letters from Qatari prince, BVI after JIT dissolved
The request doesn’t show how the companies mentioned are involved in the crime of corruption.
07/20/2017
Addressing money laundering and terrorist financing risks
This is essential, given the trans-national nature of the threats.
07/19/2017
Barclays Trial on Qatar Payments Set for Jan 2019
Authorities carried out five-year investigations whether Barcalys payments to Qatar were integral and abiding by the disclosure procedures.
07/19/2017
DFSA Fines and Bans former Senior Executive Officer
This action also demonstrates that the DFSA works closely with our colleagues at other financial regulators to address misconduct that affects our respective jurisdictions.
07/19/2017
Property Portfolios of Turkish Banks
The amendment was published in Official Gazette No. 30121 on July 11, 2017 and entered into force on the same date.
07/19/2017
Barclays trial shows risk of taking money from Qatar
A crown court in London this week began to hear allegations of fraud conspiracy against Barclays and four executives, including the bank’s former chief executive John Varley.
07/18/2017
AgustaWestland chopper case: ED arrests woman director of Dubai firm
She has been remanded to four day custody.
07/17/2017
UAE economy to bounce back as oil prices recover, says IMF
Ample fiscal space allows deficits to decline gradually while mitigating the adverse impact on the economy and the financial sector.
07/17/2017
CISI signs Kuwait agreement in bid to ‘transform financial services’ in region
This provides students with access to professional qualifications, many of which were previously unavailable to them.
07/16/2017
Tax fugitive deported from Dubai, jailed in UK
He was apprehended in Dubai after using a fake passport to travel from Kenya
07/13/2017
Duo 'forges' documents to get Dh2.7m bank loan in Dubai
She also submitted a forged passport copy to prove her identity.