10/19/2016
Bank Leumi to Pay $1.6 Million for Illegal US Cross-Border Business
Bank Leumi provided investment advice and securities transactions without being registered.
Legal, Tax, Regulation & Compliance
10/19/2016
Saudi Arabia draws $67 billion demand for first international bond
Saudi Arabia is expected to raise up to $17.5 billion through its bond offer
10/18/2016
Kuwaiti lender NBK upbeat on rising demand for credit
NBK sees higher demand for bank credit
10/18/2016
Central Bank approves expansion of financial activities of banks and financial institutions
The meeting also reviewed a report presented by the Banking Supervision Department on exchange houses operating in the UAE.
10/18/2016
Emirates NBD Asset Management Signs Agreement with UTI International for Indian Funds
The agreement aims to increase Emirates NBD Asset Management’s global fund portfolio.
10/17/2016
Exclusive: Saudi Oger seeking buyers for $1 billion Arab Bank stake - sources
A small number of potential buyers from Saudi Arabia and the wider Middle East have started negotiations
10/17/2016
Emirates Islamic announces net profit of AED 106 million for 9M 2016
Emirates Islamic announced its financial results for the period ending September 30, 2016.
10/14/2016
Hogan Lovells Strikes Alliance in Shanghai
The Shanghai Municipal Bureau of Justice approved the alliance between Hogan Lovells and Fidelity as a contractual joint operation
10/14/2016
Lawmakers file to grill Finance Minister – Political crisis brews
A number of lawmakers anticipated that the Assembly will likely be dissolved even before its starts the new term next Tuesday.
10/13/2016
Moody's assigns provisional A1 rating to Saudi Arabia's proposed medium-term note program
Saudi Arabia exhibits somewhat greater limitations of fiscal policy
10/13/2016
BIBF explains benefits of Chartered Financial Analyst qualification
The event was held Sept. 28 at BIBF’s property in Juffair.
10/13/2016
Saudi Arabia Said to Weigh Easing Restrictions on Foreign Banks
The Boston Consulting Group has prepared a report for SAMA on the proposed changes and their potential impact, according to the people.
10/11/2016
Falcon Bank says will focus elsewhere after losing Singapore licence
Falcon Bank will focus on growing their businesses in the core locations Switzerland, Middle East and London
10/11/2016
GCC growth & sustainability depends on fiscal, monetary policy alignment & action
The downward revision to US growth mostly reflected weaker-than-expected growth in the second quarter of 2016.
10/11/2016
Qatar launches campaign to educate laborers on new laws
Human rights organizations already have alleged some migrant workers face cases amounting to forced labor.
10/11/2016
deVere Mortgages partners with Al Rayan Bank to offer Sharia compliant home finance
Al Rayan Bank is founded on faith-based, ethical principles that derive from trade, entrepreneurship and risk-sharing
10/10/2016
Impact of IFRS 9 implementation likely to be minimal on GCC banks
New standards could free up reserves in many cases
10/10/2016
Dubai FDI updates UK businesses and investors on Dubai’s innovation-driven strategies
Dubai Investment Development Agency, an agency of the Department of Economic Development in Dubai, recently went on a mission to London, connecting with select investor groups, law firms and consultants, and updating them on the new opportunities and chan
10/10/2016
Bahrain to build 5,000 homes through housing bank
The project is due to meet the goals set out in the Government Action Plan.
10/07/2016
Egypt is experimenting with the IMF’s ideal reforms
The new government policies should include currency depreciation, a cut in fuel subsidies and the introduction of the Value-Added-Tax bill.