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.
Legal, Tax, Regulation & Compliance
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.
03/15/2016
Saudi central bank governor vows to keep currency peg
Currency speculators have put pressure on the riyal in recent months because of the impact of lower oil prices on Saudi Arabia's fiscal balance, causing a projected large deficit this year.
03/15/2016
Falcon Private Bank secures licence in Dubai
Said Eduardo Leemann, chief executive officer of Falcon Private Bank: “Our new DIFC licence will enable us to strengthen our local wealth management capabilities.”
03/15/2016
Qatar central bank says taking action to increase liquidity
Sheikh Abdullah said the central bank had stepped up monitoring of liquidity in the system and had issued circulars to improve liquidity.
03/15/2016
ASAR - Al Ruwayeh & Partners Acted as Legal Counsel to the Lead Managers of Burgan Bank's KD 100 Million Perpetual Tier 2 Basel III Compliant Issuance Bonds
The bond issuance was comprised of both a fixed and floating rate tranche with the fixed rate coupon at 6% and the floating rate coupon at 6.20%.
03/14/2016
Successful appeal opens door for UAE-wide enforcement of foreign court judgements
The DIFC Courts are already an established conduit jurisdiction for the recognition and enforcement of arbitral awards, both foreign and domestic, so this decision means that they can treat foreign court orders in the same way for recognition and enforcem
03/14/2016
Macquarie Capital receives 'in principle approval' for ADGM license
Abu Dhabi geared to become a global financial centre in line with Vision 2030
03/14/2016
Clifford Chance advises on over US$1 billion refinancing for 1,730MW PP11 gas-fired independent power project in Saudi Arabia
The refinancing facilities were provided on a combined conventional and Islamic basis, with the two classes of financiers sharing the transaction security package.
03/13/2016
Central Bank of Egypt announces Strategic Partnership with SME Banking & Finance Egypt 2016
To boost the SME finance market, the CBE has announced a $25 billion stimulus package to fund over 3,50,000 SMEs in the next four years.
03/10/2016
Turkey expected to tighten corporate bond regulations in response to defaults
The CMB has yet to take action in connection with the second default in the market but Borsa Istanbul has already delisted the issuer's debt securities.
03/09/2016
QCB Governor Says Qatar Banks Record Good Growth in 2015
Most of Qatar's general revenues accrue from oil and gas exports which are priced in US dollars in international markets.
03/09/2016
Swiss Private Bank Loses Appeal and Pays the Sum of $35 Million
Justice has been served in a systematic and procedural manner by the justices of the DIFC Courts
03/08/2016
U.K. Judge Adjourns Tug-of-War Case over Libyan Sovereign Wealth Fund
Decision might be ‘premature’ if solution can be reached in Libya
03/08/2016
Iran, Singapore Willing to Boost Economic Ties
For his part, Balakrishnan hailed a recent agreement signed between Iran and Singapore on joint investment
03/07/2016
Iranian billionaire Babak Zanjani sentenced to death for embezzlement
Businessman who helped Iran evade oil sanctions and two accomplices convicted of ‘spreading corruption on earth’
03/07/2016
UAE Central Bank to put in circulation revised Dh200 note today
The new tactile features will be engraved in bleed-off intaglio printing on the edge of the banknote’s short sides.
03/07/2016
UAE banks to face challenges in implementing Basel III reforms
Bankers gear up to be in full compliance by 31 March 2019 deadline
03/07/2016
Integration of Arab Banking Practices among concerns at Annual Arab Banking Conference
Despite apparent benefits, financial inclusion faces continued setbacks, says Fattouh
03/06/2016
Lunch with Dubai top lawyer Essam al-Tamimi: the future of UAE law
The interview takes place at Roberto’s, an Italian restaurant tucked away in the grey forest of glass and granite that makes up Dubai’s upscale DIFC financial center complex.