04/29/2016
Know your LLCs from your SPVs in the GCC
Company laws in both Saudi Arabia and the UAE say that all shares in a limited liability company (LLC) must have the same value.
Legal, Tax, Regulation & Compliance
04/29/2016
Saudi central bank net foreign assets fall $6bn in March
Net foreign assets held by the central bank dropped by 1.0 per cent from the previous month
04/29/2016
Can Abu Dhabi's new financial free zone compete?
The team set about drawing up commercial regulations for financial and non-financial firms.
04/28/2016
Bahrain’s economy to slow further in 2016-17, IMF says
Fund welcomes Gulf nation’s fiscal reforms but says more needed; calls for steps to address impediments to private investment
04/27/2016
Gcc banks remain resilient, long-term outlook still positive
Banks are experiencing new challenges as a result of the current economic environment, greater regulatory oversight, supervision and stiffer competition.
04/27/2016
Qatar National Bank allegedly hacked, data of 1,200 entities leaked
The data breach includes the personal bank accounts and passwords for Al Jazeera employees and members of the ruling al-Thani family
04/27/2016
UAE regulator SCA extends scope to cover financial planning
The change to the ‘Financial Consultation and Financial Analysis’ licence follows a consultation with the industry last year, and is one of a series of amendments, which also include a code of conduct for employees, made to the regulations ear
04/26/2016
GIB raises 2 billion Saudi Riyals
The demand from a large number of highly respected entities reflects the market’s confidence in GIB’s experience and strong financial position.
04/24/2016
Foreign court judgments could now be enforceable in onshore UAE via the DIFC Courts
DIFC law and practice on the enforcement of foreign court judgments is now in line with the DIFC law and practice on the enforcement of arbitral awards.
04/24/2016
National Bank of Kuwait gets regulatory nod for capital raise
The rights issue will be worth 137.58 million dinars ($455.64 million), according to Thomson Reuters calculations.
04/24/2016
Dla Piper confirms commitment to Abu Dhabi with new premises
Dla Piper has relocated its Abu Dhabi office, taking up premises in the Emirates Institute of Banking & Financial Services Building.
04/24/2016
Turkey fully compliant with Basel III
This is the outcome of the extensive rulemaking efforts of the Banking Regulation and Supervision Authority, which has introduced sweeping changes since 2013 to ensure Turkish banking laws' compliance with Basel III.
04/22/2016
Turkey is scrambling to stop hedge funds from driving the lira higher
Turkey had already cut that rate by a quarter of a percentage point earlier in 2016
04/21/2016
New Business Opportunities in Iran! But Who Will Be Your Banker?
The U.S. government has recently been on a road show to encourage European and Asian banks to take advantage of the lawful business in Iran.
04/20/2016
Mourant Ozannes advises on $490 million Travelex financing
The Mourant Ozannes team was led by Partner James Hill and Senior Associate Andrew Salisbury, who worked closely with Linklaters as English legal adviser.
04/20/2016
New CISI qualification launched to combat financial crime
Working with CCL Academy to create a well-equipped workforce in the regional industry is a firm step towards effectively preventing financial crime
04/19/2016
Turkey to integrate its financial market infrastructure with the European Union
This is an opportunity that will contribute to much-needed depth in Turkish capital markets.
04/19/2016
Tight liquidity, rising fund costs seen boosting GCC bond market
Issuers warned against expecting cheaper pricing from sukuk markets as banks are expected to remain the largest buyers of these securities
04/18/2016
UAE Expands Tax Treaty Network
The United Arab Emirates signed an agreement with the United Kingdom on the avoidance of double taxation on April 12, 2016.
04/18/2016
Qatar and 12 countries urge IMF to study EMDC capital outflow dynamics
The Fund should stand ready to upscale technical support on policy priorities once domestic stability is restored and to support reconstruction efforts , where needed, as soon as possible.