10/23/2023
New CBE regulations to facilitate credit card use for Egyptians traveling abroad
Local banks have begun informing their customers about these instructions and how to comply with them.
Legal, Tax, Regulation & Compliance
10/23/2023
Kuwait Finance House - Bahrain signs MoU with ERA Real Estate for “Khudur Homes” residential project
This partnership is a significant step in the Bank's efforts to make homeownership more accessible and affordable to the community
10/23/2023
Saudi Central Bank SAMA, Monetary Authority of Singapore to Work on Fintech Initiatives
The agreement aims to “strengthen collaboration and foster mutual development of the two organizations.”
10/20/2023
Saudi CMA slaps $1.12mln fine on 2 Swiss firms over unlicensed dealings
Firms allegedly engaged in securities activities without obtaining license
10/18/2023
UAE to launch national domestic card scheme
The new card scheme is scheduled for introduction in early 2024.
10/17/2023
Saudi Arabia to introduce new facility management regulation in 2024
The landmark act is expected to elevate the industry’s trustworthiness and investment allure while overseeing real estate facilities.
10/17/2023
UAE Central Bank subsidiary unveils instant payments platform for digital transactions
Aani allows users to transfer and settle funds in less than 10 seconds and will initially support transactions of up to $13,600
10/16/2023
Saudi Fund signs $100mln development loan agreement for climate-smart infrastructure project in Grenada
This milestone marks Grenada as the 91st nation to receive SFD funding for a development project
10/16/2023
Qatar Central Bank Issues Loan-Based Crowdfunding Regulation
QCB classifies Loan Crowdfunding Platforms as innovative financial platforms that connect borrowers in need of funding with diverse group of investors.
10/13/2023
DFSA fines former CFO of listed REIT for being knowingly concerned in misleading statements and accounting breaches
The DFSA found that Mr Ishak was knowingly concerned in those breaches.
10/12/2023
Maples Group Selected to Support Ruya Partners' Private Credit Fund
The Maples Group will be providing full fund administration services for the Fund.
10/12/2023
Commercial Bank of Kuwait successfully completes the issuance of first tranche under subordinated tier 2 bonds program of the Bank
The first of its kind denominated in Kuwaiti dinar
10/10/2023
Deloitte partner Hadeel Biyari wins international tax award
The competition covers all segments of the tax space, including corporate taxation, transfer pricing, disputes, and indirect tax.
10/10/2023
Walkers Scoops Four Nominations as the IFLR Middle East Awards 2023 Shortlist is Revealed
The awards focus exclusively on legal innovation in transactions that reached financial close during the 2022 calendar year.
10/06/2023
GCC Financial, Economic Cooperation Committee holds 120th meeting in Muscat
Al Habsi underscored the significance of the meeting which, he said, focused on enhancing financial and economic cooperation and integration among GCC states.
10/06/2023
Egyptian banks suspend debit card use in foreign currency
Arab African International Bank sent a notice to customers on Wednesday and Arab International Bank sent one on Thursday announcing the suspension, according to several customers
10/06/2023
Dentons advises the Islamic Development Bank on sukuk issuance
The transaction was successfully completed on 3 October 2023, and the issuance was made through a special purpose vehicle issuer incorporated in Luxembourg
10/05/2023
UAE: ADGM fines money service provider for inadequate AML controls
The FSRA found that the money service provider failed to establish and maintain adequate AML systems and controls to ensure full compliance with its AML obligations in that it failed to
10/04/2023
KENDRIS – Accredited by DIFC Family Wealth Centre
The DIFC Family Wealth Center is a one-stop shop for global and regional family business structures, ultra-high net worth individuals (UHNWI) and private wealth management.
10/03/2023
Saudi Top Trading obtains $6.66mln loan from Banque Saudi Fransi
Saudi Top Trading obtains $6.66mln loan from Banque Saudi Fransi