09/10/2015
AHAB Files Evidentiary Response to TIBC Administrator
AHAB's submission today corroborates the findings of these prior investigations and it directly refutes the case filed by the TIBC Administrator.
Legal, Tax, Regulation & Compliance
09/10/2015
Abu Dhabi hunts for $1.4bn payment in Malaysia scandal fallout
The Gulf emirate’s International Petroleum Investment Company is trying to get to the bottom of an apparent $1.4bn mismatch in its dealings with 1Malaysia Development Berhad.
09/06/2015
Israeli banks named in Australian tax evasion affair
Binetter has been indicted on charges of tax evasion
09/04/2015
DIFC aims to host 100 Indian firms as a part of long-term strategy
Dubai International Financial Centre concluded its week long engagement with leading business decision makers from India’s banks, insurers, law firms, asset and wealth management companies in the country’s commercial capital Mumbai today.
09/03/2015
DIFC wants to double number of Indian banks it hosts
It is part of a broader plan to increase the presence of Indian companies based there.
09/01/2015
Global specialist law firm announces association in KSA
"With the liberalization of the capital markets in Saudi Arabia, we are delighted that the association with Hassan and his team will allow us to participate in the growth and development of this market," Abousleiman said.
09/01/2015
DIFC Courts wins consultancy deal for Kazakhstan financial centre
Kazakhstan’s president said DIFC was the model for the planned Astana International Financial Centre
09/01/2015
Hapoalim, Leumi must sell credit card units -Israel bank regulator
This means that the two large banks will be required to sell the ownership of their credit card companies
08/31/2015
Strong Year for Islamic Lending for Gulf Banks
The increase in lending will be welcome for banks in the region, where the oil slump threatens to clip economic growth
08/31/2015
Atlas Jewellery group's woes multiply
Banks firm on planning a strategy to recover a total of Dh550 million owed to them by the group
08/30/2015
DLA Piper appointments new head of Kuwait office
Terry has detailed knowledge of the Kuwait market, having spent a number of years as the Senior Legal Advisor at Kuwait Petroleum Corporation.
08/30/2015
SCW, Al Baraka Banking Group discuss cooperation
The meeting addressed aspects of joint cooperation aimed at building the capacities of women in the financial and banking sector
08/30/2015
Bank compliance: it costs to do it right
Naturally, the cost of compliance is affecting the ability of banks in the region to properly finance the economies
08/27/2015
Bank Leumi execs may have to hand back bonuses
A Bank of Israel report expects Eitan Raff, Galia Maor and Zvi Itskovich to return bonuses because of the US tax evasion affair.
08/24/2015
Swiss and Saudis dragged into 1MDB scandal
The Swiss are investigating alleged financial improprieties and the Saudis are ‘not amused’ by unwanted headlines.
08/23/2015
Arab Bank says report of $1b settlement is ‘inaccurate’
Jordan-based bank reached a deal last week to avert a damages trial
08/21/2015
Geneva prosecutor ends six-year Saad/Algosaibi probe with no further action
Court actions related to Sanea and his Saad Group and AHAB have taken place in a number of jurisdictions, including Saudi Arabia, Bahrain, Switzerland, and the Cayman Islands.
08/20/2015
FOCUS - Bahrain’s fiscal tightrope: the island state's battle to regain lost ground
The double setback of political unrest since 2011 has at times paralysed commercial activity and continues to affect investor confidence, particularly among those from outside the region.
08/20/2015
Turkish banking regulator: Turkish sector is solid
Banking sector is growing via acquisitions; foreign banks seek market entry
08/19/2015
Depositors of collapsed Dubai Bank to be paid maximum Sh100,000
The corporation, formerly the Deposit Protection Fund Board, was appointed by Central Bank of Kenya