07/24/2015
UAE residents urged to face the music and find a debt solution
No one knows how many left their debt behind, but it is well documented that some fled because they had loans and credit cards they could not afford to pay back.
Legal, Tax, Regulation & Compliance
07/23/2015
Government of Jordan, ITFC sign $3 billion funding agreement
Jordan’s state news agency Petra reports that the Government has given the go-ahead for the signing of a $3-billion soft loan framework agreement with Islamic Development Bank
07/22/2015
European court rules against another Turkish bank seizure
The European Court of Human Rights states that Turkish state’s seizure of Demirbank in 2001 was unfair, in a repeat of a similar ruling concerning Kentbank.
07/21/2015
SFO Offers Barclays Deal Amid Qatar Probe
The SFO gained powers to strike DPAs in February last year
07/16/2015
JS Bank Limited receives a License from the Central Bank of Bahrain
The license allows the bank to expand its activities as wholesale bank from Kingdom of Bahrain.
07/16/2015
UK Foreign Office says loses $1.3m in Dubai scam
The UK’s foreign office was conned out of $1.3 million (£870,572) after officials fell victim to a major fraud in Dubai.
07/15/2015
Everys Solicitors expand into Middle East with Iranian law firm acquisition
The firm will now open a branch office in Tehran headed up by first ranking Iranian qualified lawyer Saeid Salari.
07/14/2015
Central Bank issues Financial Stability Report – CBK also issues annual report for FY 2014-2015
The Central Bank of Kuwait has issued the Financial Stability Report for 2014 - Governor Dr Mohammad Al-Hashel announced yesterday.
07/14/2015
Abu Dhabi Global Market Consults Open Market on Additional Financial Services Regulations and Rules
ADGM on Track for First Financial Services Licence Applications by Q4 2015
07/13/2015
Barwa Real Estate arranges Shari'ah-compliant finance
Barwa Real Estate Group announced signing a Shari’ah-compliant financing contract with the International Bank of Qatar, worth $175 million approximately QAR 640 million.
07/13/2015
200 wills registered under new DIFC probate system
More than 200 expats have registered their wills with a new common-law probate system launched in May, it was announced on Sunday.
07/12/2015
UAE Ranks First in the World Justice Project's Rule of Law Index in MENA Region
These achievements are possible thanks to the accumulated expertise and skills of the UAE people
07/09/2015
No BIT available? Multilateral investment treaties in Middle East and North Africa
This is surprising considering that intra-MENA bilateral investment treaties represent only a fraction of the more than 500 BITs in force in MENA states.
07/09/2015
Oman takes legal action against Bulgaria over bank collapse
Oman's biggest sovereign wealth fund owned a 30 per cent stake in Corporate Commercial Bank
07/09/2015
New international law firm announced
Will have more than 1,400 lawyers and legal professionals operating from 18 locations across Canada, the UK, Europe, Asia and the Middle East.
07/09/2015
Clifford Chance advises on SBG's sukuk re-financing
Leading law firm Clifford Chance advised on Saudi Binladin Group’s sukuk re-financing of one of the phases of the on-going construction and development of the King Abdulaziz International Airport in Jeddah, Saudi Arabia.
07/08/2015
Cases at DIFC Courts surge on growing reputation for legal excellence at home and abroad
Value of cases in H1 2015 rose 447% with small claims up by 134% Surge reflects increasing confidence in DIFC Courts and Dubai as a centre of legal excellence
07/08/2015
CI affirms ratings of Arab National Bank
Capital Intelligence has announced that it has affirmed the ratings of Arab National Bank, based in Riyadh, Saudi Arabia. The Financial Strength Rating is affirmed at ‘A+’, supported by its strong asset quality, continued growth in customer
07/08/2015
WB urges GCC states to improve quality of financial intermediation
The World Bank suggests that improving the quality of financial intermediation in GCC economies is a balancing act between enhancing access and preserving stability.
07/08/2015
PEP soars at King & Wood Mallesons EUME
Profit per equity partner soared 39% to £610,000 on income up 7% to £191m in 2014/15.