06/23/2015
IFSB issues exposure draft of IFSB-IAIS Joint Paper on Microtakaful
The Islamic Financial Services Board issues the Exposure Draft of its Joint Paper with the International Association of Insurance Supervisors
Legal, Tax, Regulation & Compliance
06/23/2015
EY makes acquisition to boost governance, risk and compliance consulting services
The acquisition, expected to complete in August will help cement EY's position as an industry leader in SAP GRC services by further enhancing its end-to-end offering -- from strategy to technology implementation.
06/22/2015
Kuwait’s Investment Dar loses appeal against lifting of legal protection
The company is seeking to agree a $2.69bn debt restructuring plan with investors
06/22/2015
UAE federal government lifts Etisalat foreign ownership restriction
The government has lifted the restriction on foreign ownership of Etisalat shares, opening up the country’s biggest publicly traded company to overseas investors for the first time.
06/21/2015
DIFC Courts inform UAE's lawyers about new Wills and Probate Registry rules
Third DIFC Courts Lecture of 2015 attended by over 100 UAE lawyers
06/21/2015
CBE governor briefs Sisi on efforts to secure hard currency, fight black market
The procedures taken by the central bank regarding the exchange rate increased dollar supply at banks
06/18/2015
Herbert Smith Freehills Latest Big Firm to Close Mideast Outpost
Herbert Smith Freehills is poised to become the latest Global 100 firm to consolidate its operations in the Middle East, announcing plans to shutter its Abu Dhabi office.
06/18/2015
HFW advises Stanford Marine on AED1.2 billion refinancing
HFW's Middle East finance team, led by Partner Ian Chung, has advised Stanford Marine Group on a AED1.2 billion (US$326.7 million) sharia-compliant loan for the purposes of consolidating existing deb
06/18/2015
Dentons advises Bank Sohar and QNB on Dalma's US$77.5 million syndicated loan
Dentons advised Bank Sohar as agent bank on a US$77.5 million syndicated facility to Dalma Energy International
06/17/2015
Alleged Hezbollah-linked banker may relinquish post to son
This accusation prompted the bank’s management to sell all its assets to SGBL.
06/16/2015
HSBC gets license to buy Saudi stocks directly
HSBC Holdings has received a qualified foreign investor license in Saudi Arabia and traded shares on the bourse on Monday, the first day that direct foreign investment was allowed, the bank told Reuters.
06/16/2015
ATM fraud alert sounded out
The Saudi Arabian Monetary Agency, the Kingdom’s central bank, has warned commercial banks to improve their systems and customers to be wary, after a gang was found stealing money from ATMs in Riyadh using sophisticated card readers and cameras.
06/16/2015
Bonds and sukuk issuances under the new UAE Commercial Companies Law
The long anticipated UAE Federal Commercial Companies Law no. 2 of 2015 (the “New Companies Law”) was issued on 25 March 2015 and will be in force by 1 July 2015
06/15/2015
Abu Dhabi’s financial hub to accept tenants from today
This is the first phase in a series of activities as ADGM looks to ramp up its efforts in preparation for launch in the second half of this year.
06/15/2015
Kafa’a seeking to enhance financial sector standards
The Qatar Finance and Business Academy has launched the Kafa’a initiative to elevate and advance Qatar’s financial services sector.
06/15/2015
Saudi billionaire facing expensive UK divorce
A Saudi billionaire is facing what could be one of the UK’s most expensive divorce claims.
06/14/2015
UK judge dismisses claim by jailed former Leeds Utd boss against GFH exes
An application lodged by David Haigh to have two senior executives of Dubai's GFH Capital arrested has been dismissed by a UK court.
06/14/2015
Clifford Chance advising Citi on the sale of its consumer banking business in Egypt
Clifford Chance is advising Citi on the sale of its consumer banking business in Egypt.
06/11/2015
Abu Dhabi ruler issues law to regulate property market
Abu Dhabi's ruler has issued a decree to regulate and improve transparency in the emirate's real estate sector, requiring brokers and developers to be licensed and introducing rules to protect buyers of projects that are not yet completed.
06/10/2015
Kentaro raided in probe into Brazil vs Argentina friendly in Qatar
On Wednesday, November 17, 2010 Doha's Khalifa International stadium was the scene of a prestigious friendly between South American titans Brazil and Argentina.