12/27/2016
Emirates Development Bank approves Dh1.5b in loans for housing sector, SMEs
The budget allocates Dh750 million for housing loans for Emirati citizens and a similar amount for the development of small and medium businesses
Legal, Tax, Regulation & Compliance
12/27/2016
Iran allows free foreign exchange at banks in move to unify rates
Rate set by agreement between the bank and the customer
12/27/2016
“Markaz” successfully closes a five-year KWD 25 million bonds issue
Kuwait Financial Centre “Markaz” and Gulf Bank have announced the successful completion of “Markaz” five year bond issue with a nominal value of KWD 25 million, which was oversubscribed.
12/27/2016
Three more foreign banks eye Turkish market
Turkish banking, as you can see, is based on solid foundations and continues this feature even in this fragile environment
12/27/2016
UAB chief vows to fight money laundering, terror financing
Sheikh Mohammad Al-Jarrah, who is also Chairman of Kuwait International Bank, made these remarks in a statement to the press after meeting with the Secretary General of the Arab League Ahmad Abul-Gheit.
12/27/2016
Winter of Discontent:Iranian Banks and the Need for Reform
This has left shareholders and investors in a limbo for close to three months.
12/23/2016
US dollar prices at banks vary considerably on Wednesday, official price drops by EGP 0.06
The demand on the dollar that has caused the significant increases of late is about to come to an end
12/23/2016
UAE banks needs unified approach to common problems
Multiple banking that prevails in the UAE economy, has numerous advantages
12/21/2016
Dubai provides debt advice for expats
If they cannot get relief from an individual bank, they are able to go to the country's central bank for help.
12/21/2016
Deal-making to drive 2017 Middle Eastern banking fee fest
Fees from the Middle East reached $581 million during the first nine months of 2016
12/21/2016
De-risking by big banks ‘hitting global trade’
Al Rahama stressed the need to mitigate the impact of de-risking by financial institutions in mature markets
12/20/2016
Fitch: Courts Will Be Key to Implementing New UAE Bankruptcy Law
The law is due to come into effect at the end of this month.
12/20/2016
Central Bank Approves Requests Of A Number Of Banks To Expand Activities And Open New Branches
The board also reviewed issues presented by the Financial Control Division, and took appropriate decisions in respect of them.
12/20/2016
Israeli diamond billionaire arrested in bribery investigation
His house arrest will last until early January, and prevents him from going near his offices.
12/19/2016
Saudi Arabia:Changes made to taxation of listed companies
The GAZT’s new approach for listed companies is similar to its approach for unlisted companies where there is a change in shareholding
12/19/2016
Ajman Bank’ signs a Joint Cooperation Agreement with ‘Takaful Emarat
The joint agreement iis a true reflection of focus and efforts to enhance the development of the banking insurance system
12/16/2016
GCC growth may tighten further while US is in rate-hike mode
Bahrain and Qatar also raised key interest rates yesterday, following the US Federal Reserve’s decision to raise short-term interest rates on Wednesday evening by 25bps to 0.75 per cent.
12/16/2016
Three Gulf central banks hike rates to avert currency pressure after Fed move
The riyal and most other Gulf Arab currencies are pegged to the U.S. dollar.
12/15/2016
Kuwait central bank raises policy rate by 25 bps
The announcement came minutes after the U.S. Federal Reserve raised interest rates by a quarter point and signalled a faster pace of increases in 2017.
12/15/2016
Saudi c.bank raises reverse repo rate 25 bps, keeps repo at 2 pct
The announcement came about half an hour after the U.S. Federal Reserve raised interest rates by a quarter percentage point and signalled a faster pace of increases in 2017.