03/23/2016
Vinson & Elkins closes Abu Dhabi office
The firm further added, “ We consistently monitor all of the markets we serve to ensure that our practices are in alignment with client needs and the firm’s overall strategic goals.
Legal, Tax, Regulation & Compliance
03/23/2016
King & Spalding Advises Alinma Jeddah Economic City Real Estate Fund on US$960 Billion Shari'ah-Compliant Financing
This is one of the largest development projects in Saudi Arabia and includes the construction of the Jeddah Tower, which will be the world's tallest building at over one kilometer high.
03/22/2016
Gulf states not holding back on major reforms
Kuwait did what was deemed unthinkable in the past by proposing corporate taxes
03/22/2016
Ex-Leeds Utd MD David Haigh acquitted in Dubai on Twitter abuse charges
He expected Mr Haigh to return to the UK in two to three days.
03/22/2016
Bahrain Islamic Bank Joins the Pearl Initiative's Growing Network of Regional Corporate Partners
Since its establishment in 2010, the Pearl Initiative has developed a network of more than 40 partners across the GCC region.
03/21/2016
MoF prepares 16 federal laws for banking sector
Laws include those on Central Bank, money laundering and financial services
03/21/2016
Offering United Bank for sale still pending: chairman
CBE, other parties still studying issue of sale, we have not received instructions so far, says El-Kady
03/21/2016
Pension reforms can be a timely solution for the UAE
It could easily unlock fund flows and value in equity and real estate
03/21/2016
Saudi Arabia Tells Foreign Banks to Publicly Disclose Finances
Banks must also disclose senior executives’ pay and significant risk factors, two people with knowledge of the matter said, asking not to be identified as the matter is private.
03/20/2016
Dentons advises MENA Infrastructure on sale of interests in United Power Company
The fund invested in UPC in 2009, becoming the single largest shareholder.
03/17/2016
Judges announced for Corporate Counsel Middle East Awards
In a major innovation for 2016, the shortlists for General Counsel of the Year, International Law Firm of the Year and Middle East Law Firm of the Year will be drawn up following nominations from the region's in-house lawyers.
03/17/2016
Saudi bank cost of credit ‘on the rise’
The decision could reflect positively on banks’ profits and spark a credit-induced economic growth; however, from a credit standpoint it entails relaxing one of SAMA’s proudly held safeguards against over -leverage.
03/17/2016
Saudi ambassador sues Irish ‘fraudster’ for £25m
Mr Ryan’s business partner, Mohammed bin Abdulrahman al-Bisher, the Saudi Arabian ambassador to the United Arab Emirates, is suing him for the return of money he claims he paid into the businessman’s personal bank account.
03/17/2016
Ashghal, QDB sign MoU to support SMEs in Qatar
The MoU will also ensure that Ashghal is conducting regular meetings in collaboration with QDB to monitor the performance of the companies in accordance with the mechanism agreed upon by the two parties.
03/17/2016
FGB denies making bid for Barclays Egypt
Bank ‘has not engaged in any discussions’ on possible bid
03/16/2016
Saudi central bank raises home buyers' loan-to-value limit to 85%
The change is part of a series of steps taken by the Saudi authorities in recent months to make financing more readily available for home purchases, as they seek to address complaints by a burgeoning population of young people over the kingdom's shor
03/16/2016
Qatar to pass law on public-private partnerships by year-end
In PPPs, private investors take stakes in projects along with the government, bearing part of the risk and sharing profits.
03/16/2016
Vinson & Elkins closes Abu Dhabi office
The firm further added, “ We consistently monitor all of the markets we serve to ensure that our practices are in alignment with client needs and the firm’s overall strategic goals.
03/15/2016
Oman Law Firm Wins Islamic Finance Award
Islamic banking assets accounted for 7.4 per cent of the total banking sector at the end of 2015 and are forecast to reach 10-12 per cent within the next two years.
03/15/2016
EIBFS hosts 70 bank employees at Basel III workshop
Emirates Institute for Banking and Financial Studies hosted an interactive workshop on Basel III implementation strategies and associated challenges for more than 70 senior-level attendees from the UAE’s banking sector.