05/05/2016
UAE bank warns of 'Magic Pen' fraud; how to avoid it
Never issue a blank security cheque, fill details with your own pen
Legal, Tax, Regulation & Compliance
05/05/2016
DIFC Courts winds up Bank Sarasin Alpen (ME) after failure to pay damages
Dubai-based Bank Sarasin Alpen (ME) has been placed into liquidation by the DIFC Courts after it failed to pay US$35 million in damages to a group of Kuwait investors for mis-selling financial products.
05/05/2016
Maples and Calder Recognised for SevenCayman Islands: Maples and Calder Recognised for Seven Airfinance Deal of the Year Awards Airfinance Deal of the Year Awards
A leading financial resource on the aviation industry and market leader for aircraft finance news
05/05/2016
RBI, UAE central bank sign MoU on currency swap cooperation
The MoU will further strengthen the close economic relationship and cooperation between India and the United Arab Emirates.
05/04/2016
Abu Dhabi Signs MoU With Chinese Bank Regulator
Similarly, ADGM supports its local stakeholders in their aspirations to expand their engagement with China.
05/04/2016
Law to trade through social media urged
Banks will inform security agencies when they receive suspicious amounts and foreign remittances into the accounts of clients to check the source of amount,” he told Makkah Arabic daily.
05/03/2016
Cma Oman's sukuk regulation aims to provide transparency
It is to be noted that not all jurisdictions have specific and separate sukuk regulations, particularly in the Gulf Cooperation Council countries
05/03/2016
Adgm and UAE central bank in partnership against money laundering and terrorism financing
The two institutions have pledged to cooperate closely on AML/CFT issues, and to coordinate training and technical assistance in this area.
05/03/2016
Saudi bourse says to have T+2 settlement early 2017
The Saudi Stock Exchange will introduce in early 2017 the settlement of trades within two working days of execution, it said on Tuesday, a reform that could help the market join global equity indexes and attract billions of dollars of foreign money.
05/03/2016
Legal business structures in Dubai
These structures are applicable to new businesses set up within Dubai, excluding all free zones
05/03/2016
Saudis Ease Stock-Investing Rules in New Foreign Enticement
In a separate statement on its own website, the exchange said it will amend its settlement cycle for share trading, bringing it in line with European markets.
04/29/2016
Know your LLCs from your SPVs in the GCC
Company laws in both Saudi Arabia and the UAE say that all shares in a limited liability company (LLC) must have the same value.
04/29/2016
Saudi central bank net foreign assets fall $6bn in March
Net foreign assets held by the central bank dropped by 1.0 per cent from the previous month
04/29/2016
Can Abu Dhabi's new financial free zone compete?
The team set about drawing up commercial regulations for financial and non-financial firms.
04/28/2016
Bahrain’s economy to slow further in 2016-17, IMF says
Fund welcomes Gulf nation’s fiscal reforms but says more needed; calls for steps to address impediments to private investment
04/27/2016
Gcc banks remain resilient, long-term outlook still positive
Banks are experiencing new challenges as a result of the current economic environment, greater regulatory oversight, supervision and stiffer competition.
04/27/2016
Qatar National Bank allegedly hacked, data of 1,200 entities leaked
The data breach includes the personal bank accounts and passwords for Al Jazeera employees and members of the ruling al-Thani family
04/27/2016
UAE regulator SCA extends scope to cover financial planning
The change to the ‘Financial Consultation and Financial Analysis’ licence follows a consultation with the industry last year, and is one of a series of amendments, which also include a code of conduct for employees, made to the regulations ear
04/26/2016
GIB raises 2 billion Saudi Riyals
The demand from a large number of highly respected entities reflects the market’s confidence in GIB’s experience and strong financial position.
04/24/2016
Foreign court judgments could now be enforceable in onshore UAE via the DIFC Courts
DIFC law and practice on the enforcement of foreign court judgments is now in line with the DIFC law and practice on the enforcement of arbitral awards.