02/07/2016
QFC to be integrated with QCB and SJC
We are creating a better regulatory environment by integrating the QFC Regulatory Authority with the QCB , which means there will be common areas of regulation between both the entities
Legal, Tax, Regulation & Compliance
02/07/2016
Iran’s Implementation Day Arrives and Harneys is in the Thick of it
The Joint Comprehensive Plan of Action (JCPOA), a milestone diplomatic agreement reached on 14 July 2015 between the US, UK, Russia, China, France and Germany (P5+1), and Iran, to tightly regulate Iran’s nuclear development programme in exchange for
02/05/2016
Barclays to hand Qatar deal papers to the SFO
The bank had argued that it should not give up the documents, claiming they contained legal advice protected by lawyer-client privilege and that handing them over would set a dangerous precedent about what companies could expect to keep confidential.
02/04/2016
Swiss Affiliate Bank in Middle East Responsible for Financial Mis-selling Fails to Comply With Court Ruling
The claimant will now seek to enforce the next step in securing the sum through the DIFC Court.
02/04/2016
Bonus reviews for UAE compliance sector
Morgan McKinley has researched average bonus payouts in 2015 for senior compliance staff across Central Bank regulated firms, DFSA and ESCA regulated entities, local, international and Islamic banks as well as private banking and brokerage firms.
02/03/2016
Regulator wants orders blocking Dubai Bank liquidation lifted
The banking sector regulator has challenged a High Court order halting the liquidation of the troubled Dubai Bank.
02/03/2016
Major international law firm opens its own Iran office in Tehran
This includes the right to provide legal advice in Iran.
02/03/2016
Dentons becomes first law firm in the Middle East to achieve ISO 22301 certification
ISO certification, established by the British Standards Institution, specifies requirements to plan and prepare for disruptive incidents, ensuring that appropriate measures are in place for business continuity.
02/03/2016
HSBC subsidiary hired senior staff with unaccredited degrees
Two senior compliance staff hired by HSBC Saudi Arabia, a subsidiary of the main British bank, have unaccredited business degrees, a Channel 4 News investigation finds.
02/01/2016
Iran, Turkey normalize banking ties
The ambassador added that the three branches of Iran's Bank Mellat in Istanbul, Izmir and Ankara cities have resumed their activity.
02/01/2016
Egypt, Russia, UAE to sign deal on joint investment fund tomorrow
The signing ceremony will take place during the 10th session of the Egyptian-Russian Committee meetings.
01/31/2016
IFRS For SMEs Explained
After years of discussion, the new Commercial Companies Law No 02 of 2015 has been introduced
01/31/2016
UAB recommends economic, legislative reforms in Arab countries to attract foreign investment
Participants in the forum called upon Arab banks and financing institutions to adopt new financing models for infrastructure projects, as they play a vital role in stimulating the economy.
01/29/2016
Key financial mis-selling case in Dubai nears conclusion
An appeal by the defendant banks against the initial judgement of their liability in the case was heard by the DIFC Court of Appeal in September 2015.
01/29/2016
JSCL restricted from buying Dubai Bank’s stakes in BankIslami
Earlier in August 2015, a consortium led by Ali Hussain of JSCL and Alkaram Group offered Dubai Bank to purchase its 144.200 million in the BankIslami.
01/29/2016
CEO hopes to settle Saudi firm’s $6B of debts
The time may be right for the company's debts to be finally settled, CEO Simon Charlton said.
01/28/2016
International law firm bolsters Dubai office
His sectoral experience covers financial services, aerospace and defence, energy, construction and insurance.
01/28/2016
Amanda Staveley sues Barclays for almost £1bn
The bank said in a statement: “We believe the claim against Barclays is misconceived and without merit and Barclays will be vigorously defending it.”
01/27/2016
Abu Dhabi Global Market establishes its Regulatory Committee
The Regulatory Committee is an extension of ADGM's commitment to advocating and upholding the highest level of international regulatory standards and governance practice at ADGM.
01/27/2016
UK Considers Allowing Iranian Banks to Resume Business in London
The Iranian banks are now working with regulators to get up to speed with new regulation such as capital requirements, risk management and governance, before restarting operations.