04/09/2017
Creditors pursue legal action against Dubai’s Pacific Controls
Several of the roughly 19 banks that have exposure to the company have now asked for court consent to seize its data centre in Dubai and other assets.
Legal, Tax, Regulation & Compliance
04/07/2017
Britain to extradite former head of Kuwait's social security fund- media
Al-Rajaan faced accusations including embezzlement of public funds, betrayal of public trust and money laundering related to when he was the head of Kuwait's Public Institution for Social Security.
04/07/2017
MP queries on deposits in local, foreign banks by KIA and PASS
The lawmaker has asked for a statement from the minister on the size of the funds deposited in local and foreign banks over the past five years, the interest accrued and the currency of deposits.
04/07/2017
BKIC mandatory offer for Takaful International
Bahrain Kuwait Insurance Company BSC’s acquisition of 14,220,448 of Takaful International Company resulted in a total shareholding of 63.69 per cent of the company.
04/07/2017
Oman says banks should be extra vigilant on property, personal loans
Oman finances have been hit hard by the plunge in fuel prices since 2014
04/07/2017
QIA sells stake in Santander Brasil worth $737m
Investors paid 25 reais each for the 80 million units initially offered as well as for the extra allotment of 12 million units
04/06/2017
DFSA Signs International Agreement on Audit Oversight
The MMoU aims to encourage and strengthen information sharing and co-operation to offer mutual assistance among IFIAR Members.
04/06/2017
Credit Suisse's Perfect Storm
Authorities have displayed little evidence so far in the investigation, which is potentially explosive for the bank.
04/06/2017
Turkish regulator gives new permits for PASHA Yatirim Bankasi
Pasha Bank is a leading corporate bank in Azerbaijan.
04/06/2017
Saudi Arabia picks hybrid structure for debut dollar sukuk
An amount equal to 51 percent of the bond proceeds will be used in a mudaraba agreement, a form of Islamic investment management partnership.
04/06/2017
Arab Bank Case May Show Trump’s Corporate Liability Views
The high court on Monday agreed to hear an appeal from victims and the families of victims of Palestinian attacks inside Israel seeking to overturn a Second Circuit decision that barred them from suing Arab Bank PLC for allegedly...
04/06/2017
GCC reforms safeguard banking bankers
Central banks in the GCC states have played a key role in improving the banking sector in the regional countries since breakout of the global economic crisis in 2008
04/05/2017
London Commercial Court rules on luxury Dubai development
Baker McKenzie has won a major litigation case for Dubai Islamic Bank against a company planning a luxury resort in Dubai, raising issues from the violatility of the Dubai property market to interplay with Sharia law.
04/05/2017
Spanish police stage raids targeting Assad family's assets
The assets of Rifaat al-Assad and his family in Spain are valued at 691 million euros ($736 million), the source said, adding that "all these properties have been seized."
04/04/2017
KWM to scale back Middle East presence with Saudi pullout
Firm ends Riyadh association as former managing partner Bednall heads back to Australia
04/04/2017
CBB pushes for financial digital transformation in Bahrain
The CBB is committed to achieve a digital transformation and new technologies in the financial sector in Bahrain
04/04/2017
Bahrain unveils new law to support growing financial sector
Bahrain has become the first country in the GCC region to introduce an Investment Limited Partnership Law and integrate it in the country’s legal system.
04/04/2017
Bahrain equals global financial hub
The Kingdom has a strong and mature financial sector
04/04/2017
Andersen Global Expands Presence in Israel
Yaron-Eldar provides tax law, international tax, real estate tax, and indirect tax services for both large and small public and private companies as well as individuals.
04/03/2017
Bahrain to grant GCC residents, investors IDs
Al-Qaed said the procedure will deepen ties with GCC member states, attract more Gulf investments, allow for more services and increase customer satisfaction.