07/07/2022
United Arab Bank goes live with Arab Monetary Fund’s Buna platform
New initiative will assist UAB’s retail and corporate clients to send and receive cross-border multi-currency payments in a safe, cost-effective, and transparent way
Legal, Tax, Regulation & Compliance
07/07/2022
Fintech company director fined $24,000 for obstruction of investigation
He refused to hand over information when suspected of operating without proper authorisation
07/07/2022
Solutions inks $79.46mln contract with STC
Under the 24-month contract, solutions will install data transfer devices and raise the capacity of stc's internal and international network and the infrastructure for virtual broadband devices
07/05/2022
The Central Bank of Egypt reinstates fees on ATM withdrawals as of July 1st
The CBE has also raised the ceiling of off-us cash withdrawals from ATMs
07/05/2022
Dubai Land Department collaborates with Emirates NBD
To support the rental market, rental cheque payments will soon be automated and digitised through enabling of rent collection using the Central Bank of the UAE’s Direct Debit System
07/05/2022
KFH-Bahrain to provide financing for study at NGN
KFH-Bahrain signed a Memorandum of Understanding (MoU) with NGN Training Centre, the educational arm of NGN International, a company that specialises in integrated information systems and provides IT consultancy.
07/01/2022
Egypt’s Banque Misr ensures banking business continuity and digital employee engagement
SAP SuccessFactors Provides Full Visibility and Real-Time Insights on Performance and Goals for more than 20,000 Employees Across 800 Branches
07/01/2022
DIFC rolls out Open Finance Lab in Dubai
The initiative supports DIFC’s ongoing efforts to realise the objectives of its 2030 strategy by unlocking strategic opportunities for the UAE and reinforcing DIFC’s position as a global financial services hub.
06/30/2022
Despite SAMA support, Saudi banks need to add deposits to expand lending: S&P
Current liquidity crunch may lead to capital market development
06/30/2022
Dechert Secures Complete Dismissal of Claims Against the Arab Republic of Egypt
The decree stated nothing about the sum of money owed to the plaintiff and the plaintiff never filed the appropriate action in Egypt to determine that amount.
06/29/2022
Lebanon banking association affirms its unity after criticism by member banks
The ABL also called on the Lebanese state to shoulder a portion of financial sector losses estimated at some $70bln
06/27/2022
Higher energy prices to see Qatar budget surplus widen to 12.8% of GDP: NBK
Qatar’s economy returned to growth in 2021, with GDP up 1.5%, on stronger consumer demand and lessening Covid-19 disruptions.
06/27/2022
IMF suggests measures for 'independent monetary policy' for Qatar
A more flexible exchange rate regime would have limited effect on external competitiveness since 87% of Qatar’s exports are hydrocarbon and could generate significant uncertainty and negative balance-sheet effects (as forex accounts for 17% and 32%
06/27/2022
CBB holds second Board meeting for 2022
Chaired by Hassan Khalifa Al-Jalahma on Sunday, 26 June 2022
06/23/2022
Managing settlement of construction project claims in Qatar
Achieving amicable settlement of these claims is a top priority for both developers and contractors and will be pivotal to the successful conclusion of projects
06/23/2022
Lebanese banks disavow banking group's objection to IMF plan
Their objection to the letter's contents reveals growing fissures in the association, which counts more than 50 banks as members.
06/22/2022
IIFM plans to develop new standards relating to Islamic syndication and liquidity management
Held its 46th meeting virtually to discuss the Islamic finance standard-setting body’s new standardization and industry development initiatives
06/21/2022
BHM Capital acquires a new SCA license in fund management
The development is aligned with the company's strategy to provide a range of financial instruments to suit investors’ needs, whilst having the confidence of working with one of the top-ranked firms in the country
06/20/2022
ABCK-AmCham Kuwait, EY Kuwait and Dalal Al Mulla hosts a tax seminar
To provide an overview of the Corporate Income Tax landscape in Kuwait including recent developments
06/20/2022
Cairo Amman Bank and Network International Jordan sign exclusive Cooperation Agreement to provide e-payment services for card issuing and management
This development is in line with the accelerating shift away from cash and Network International’s commitment to the advancement of payment systems and cashless societies.