05/23/2016
Egypt Said to Probe 12 People on Beltone Share Manipulation
The regulator’s move is the latest attempt by authorities to investigate a 243 percent surge in Beltone’s share price this year.
Legal, Tax, Regulation & Compliance
05/23/2016
Arab Monetary Fund Calls For Central Banks To Step Up In Islamic finance
Central banks need to have a stronger role in setting regulations for the region’s Islamic banks, and must press ahead with introducing new liquidity management tools
05/23/2016
UAE's Anti-Money Laundering and Suspicious Cases Unit and Kuwait's Financial Intelligence Unit sign MoU
The MoU covers mutual cooperation in different areas that are of interest to both parties regarding financial information related to money laundering
05/20/2016
Fitch Ratings deems Saudi bank secure during draft review
The Financial Stability Board, a consultative group that oversees banking practices in Middle East and North Africa nations, first introduced the concept of regional banking approaches in an April 25 meeting in Riyadh.
05/19/2016
Lebanon central bank says must comply with US Hezbollah law
The law has ignited an unprecedented dispute between Hezbollah and a central bank widely seen as a pillar of stability in an otherwise weak and dysfunctional Lebanese state.
05/19/2016
Benefits of using Cyprus based companies to invest in Iran - Harneys
On January 16 2016 the European Union implemented the Joint Comprehensive Plan of Action, which scaled back sanctions on Iran and marked the country's return to international capital (and other) markets. Investment in Iran through Cyprus-based compan
05/18/2016
Malaysia Says Too Early to Conclude Fraud in 1MDB-Abu Dhabi Deal
A report by a Malaysian parliamentary committee last month identified at least $4.2 billion of questionable transactions by 1MDB
05/17/2016
US Reveals How Much Treasury Debt Saudi Arabia Owns
The report showed that Saudi Arabia in March held $116.8 billion in Treasury debt, down 2.5 percent from February.
05/16/2016
Clifford Chance, Hadef and PepsiCo among those to triumph at Middle East awards
The awards were jointly hosted by Legal Week and the Association of Corporate Counsel (ACC) Middle East group
05/16/2016
Israeli Forex Head: Only a Few Firms Might Remain in the Market
Tzah Druker talks for the first time about the effects of new ISA regulations on the industry.
05/13/2016
Tehran timidity says more about banks than Iran
Their likely reluctance to follow his advice says more about the state of banking than the state of Tehran.
05/12/2016
Path cleared for Bank Mellat’s claim against UK Treasury
The Court of Appeal gave its Judgment following an appeal by HM Treasury against the decision of Mr. Justice Flaux, sitting in the English Commercial Court.
05/12/2016
QCB assures confidence in Qatar with a solid financial framework
A number of important regulations, based on Basel III, have been issued to strengthen the banking sector in recent years.
05/12/2016
Bahrain, Lebanon, Nauru, Panama and Vanuatu have now committed to the international standard of automatic exchange of financial account information to tackle tax evasion and avoidance
With these new commitments, 101 jurisdictions around the world have committed to implement information sharing in accordance with the Common Reporting Standard developed by the OECD and G20 countries and endorsed by the Global Forum in 2014.
05/12/2016
UAE banks to assess impact of new rules on impairments
The regulations were expected to have significant impact on banks' operations and possibly raise impairment requirements, according to the central bank document.
05/12/2016
DFSA Restricts Former Trader Noyan Ayhan
The DFSA imposed the restriction because it found that Mr Ayhan's misconduct demonstrated that he lacked integrity.
05/11/2016
Nationalities with most number of wills registered in Dubai's DIFC
DIFC Wills & Probate Registry says majority of registrants are joint husband and wife wills
05/11/2016
Abu Dhabi Global Market Sets Out Proposal for FinTech Regulatory Framework in the UAE
Firms who are not ready after the two-year period will exit the RegLab framework.
05/11/2016
UAE approves creation of central Islamic finance authority
Shariah boards are groups of scholars who rule on whether financial instruments and activities are religiously permissible.
05/10/2016
Banks need to rethink about changes and challenges, says KPMG
The report is based on an examination of 10 leading listed local banks and offers insights on the key trends that are set to accelerate or disrupt the industry in the near future.