04/15/2016
Malaysia 1MDB: Saudi minister says Najib funds were donation
The 1MDB fund was set up by Mr Najib in 2009 to pay for major new economic and social developments in Malaysia.
Legal, Tax, Regulation & Compliance
04/14/2016
UAE central bank plans reforms to EIBOR quotes: sources
A panel of 11 banks submits daily quotes from which Emirates interbank offered rates are calculated.
04/13/2016
Qatar sets new rules for bank forex holdings
In its brief circular, the central bank said it was “keen to limit the risks of foreign currency open positions.”
04/13/2016
World’s Worst Finance Job? Turkey’s Central Bank Has a New Chief
The newspapers, by contrast, are increasingly amenable to the President’s view of the world.
04/13/2016
Leading ASEAN law firm & Al Aidarous Form Strategic Alliance in Middle East
Chambers Global and The Legal 500: Europe, Middle East & Africa have recognised WongPartnership in the areas of Corporate/Commercial, and Real Estate and Construction since 2011 and 2014 respectively.
04/11/2016
CBE has not received new deposits from Saudi Arabia’s MOU with Egypt as of Saturday: CBE deputy governor
Quality of performance is a requirement for extending working period, says Negm
04/10/2016
Qatar's QNB says receives regulators' nod to buy Turkey's Finansbank
The share transfer to QNB will take place once remaining regulatory approvals were received, it said in Sunday's statement.
04/10/2016
UAE Banks Federation holds Ordinary Annual General Meeting, elects new board for the next three years
The UAE Banks Federation , a professional body representing 49 member banks operating in the UAE, held its Ordinary Annual General Assembly Meeting to review the UBF main activities and key achievements of last year.
04/08/2016
Former Kuwaiti financial attaché arrested in US on charges of money laundering and illegal revenue
The woman is also suspected of involvement in financial and administrative violations which include fake medical bills for Kuwaiti citizens.
04/08/2016
Dentons shortlisted for six awards in the Corporate Counsel Middle East Awards 2016
Dentons' presence in the Middle East is one of the largest of any international law firm and spans Egypt, Jordan, Lebanon, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
04/08/2016
UAE freezes assets of two former Ipic group officials -sources
Central bank, in a circular, directed some big UAE banks to freeze accounts of Khadem al-Qubaisi and Mohamed al-Husseiny, without stating reasons
04/08/2016
Deutsche Bank suspends five wealth management executives
No clients suffered damage due to their actions, the source said.
04/08/2016
Bank of England fines Qatar Islamic Bank's UK unit nearly $2 mln
"In failing to assess, maintain and report on its financial resources for over a year, QIB failed to meet some of the most basic regulatory standards," said Andrew Bailey, chief executive of the PRA.
04/06/2016
Japan enters Shariah-compliant corporate financing in Mideast
The bank said it is issuing a $200mn loan to a unit of Saudi Arabian national mining company Ma’aden, a Riyadh-based diversified mining firm active in gold-base metals mining and the infrastructure industry.
04/06/2016
Central Bank of Bahrain is urged to proceed with technology project
Al A’ali said the project has the potential to help meet the needs of banks and financial institutions.
04/06/2016
Oman raises limit for banks’ government bond holdings: Sources
Oman’s central bank has increased the maximum amount of government securities which banks can hold to 45 percent of their net worth from 30 percent, central bank and commercial banking sources said.
04/06/2016
UAE conglomerate misses payment on $4.5 bln restructured debt
The sources noted the importance of the upcoming negotiations as the last chance to save the company from collapse.
04/05/2016
Qatar central bank invites bids for 1.5 bln riyal T-bills
This auction it's not a necessity, it's for the banks' sake
04/05/2016
Secret dealings of Middle East leaders exposed by Panama Papers leak
Hidden offshore dealings in assets of about 140 political figures, including 12 current or former heads of states, are revealed
04/05/2016
Central Bank arranges to borrow KD 2 billion from local banks
This loan will be in dinars and dollars, and its value will be according to market ability and liquidity available at banks, said the sources