10/13/2023
DFSA fines former CFO of listed REIT for being knowingly concerned in misleading statements and accounting breaches
The DFSA found that Mr Ishak was knowingly concerned in those breaches.
Legal, Tax, Regulation & Compliance
10/12/2023
Maples Group Selected to Support Ruya Partners' Private Credit Fund
The Maples Group will be providing full fund administration services for the Fund.
10/12/2023
Commercial Bank of Kuwait successfully completes the issuance of first tranche under subordinated tier 2 bonds program of the Bank
The first of its kind denominated in Kuwaiti dinar
10/10/2023
Deloitte partner Hadeel Biyari wins international tax award
The competition covers all segments of the tax space, including corporate taxation, transfer pricing, disputes, and indirect tax.
10/10/2023
Walkers Scoops Four Nominations as the IFLR Middle East Awards 2023 Shortlist is Revealed
The awards focus exclusively on legal innovation in transactions that reached financial close during the 2022 calendar year.
10/06/2023
GCC Financial, Economic Cooperation Committee holds 120th meeting in Muscat
Al Habsi underscored the significance of the meeting which, he said, focused on enhancing financial and economic cooperation and integration among GCC states.
10/06/2023
Egyptian banks suspend debit card use in foreign currency
Arab African International Bank sent a notice to customers on Wednesday and Arab International Bank sent one on Thursday announcing the suspension, according to several customers
10/06/2023
Dentons advises the Islamic Development Bank on sukuk issuance
The transaction was successfully completed on 3 October 2023, and the issuance was made through a special purpose vehicle issuer incorporated in Luxembourg
10/05/2023
UAE: ADGM fines money service provider for inadequate AML controls
The FSRA found that the money service provider failed to establish and maintain adequate AML systems and controls to ensure full compliance with its AML obligations in that it failed to
10/04/2023
KENDRIS – Accredited by DIFC Family Wealth Centre
The DIFC Family Wealth Center is a one-stop shop for global and regional family business structures, ultra-high net worth individuals (UHNWI) and private wealth management.
10/03/2023
Saudi Top Trading obtains $6.66mln loan from Banque Saudi Fransi
Saudi Top Trading obtains $6.66mln loan from Banque Saudi Fransi
10/03/2023
Central banks of UAE and Egypt agree currency swap
Khaled Mohammed Balamma, governor of the Central Bank of the United Arab Emirates, and Hassan Abdullah, his Egyptian counterpart, signed the agreement.
10/03/2023
DIFC announces consultation on new Digital Assets Law
New Law of Security and Related Amendments to Select Legislation
10/02/2023
Alipay+ Launches in Saudi Arabia to Better Connect Local Businesses to Asian Tourists
Alipay+ is now available in over 50 markets outside China across Asia, Europe, as well as the Middle East.
09/29/2023
UAE and Egypt central banks enter into currency swap agreement
Egypt has been suffering from a hard currency crunch with the Egyptian pound falling by about half against the dollar since March 2022 after the Ukraine crisis exposed its economy’s vulnerabilities.
09/28/2023
UAE: 5.73 million subscribe to unemployment insurance scheme
Ministry urges those eligible to register immediately to avoid fine
09/27/2023
Kuwait Finance House sheds light on customers rights, regulations of dealing with banks
Kuwait Finance House “KFH” continues efforts to support “Diraya” financial and banking awareness campaign
09/26/2023
The Tax Benefits of using a UAE Free Zone Company as a Holding Company
The ItalianCo is considering transferring its ownership in MoroccanCo to a wholly-owned holding entity located in the United Arab Emirates (“UAE HoldCo”).
09/26/2023
Banking Transparency Under the Spotlight: Kuwait Central Bank issues guidelines
In this regard, the Central Bank of Kuwait stated that banks must fulfill due diligence requirements to verify the integrity of the funds and information available to them
09/25/2023
CBB issues the first Investment Business Category 4 license to BAGS Capital
Caters for the business models of specialist fund managers who operate, manage, and market CIUs exclusively for accredited investors