07/30/2015
Turkey Central Bank to Consider Shift to Single-Rate Policy
Turkey’s central bank is weighing a move to a simplified single-rate policy to boost confidence and attract more investment to the Middle East’s largest economy.
Legal, Tax, Regulation & Compliance
07/29/2015
Dubai realtor S&K says worsening market led to bankruptcy
The company said its reputation had suffered from client complaints and a recruitment drive did not yield results quickly enough to save the business.
07/29/2015
Dubai regulator fines Arqaam over money laundering rules
The investigation followed a periodic risk assessment by authorities that identified deficiencies in Arqaam's systems and controls to prevent money laundering
07/27/2015
Qatar checks real estate brokering
The Qatari government approved a draft law that specifies requirements to practice real estate brokering in the country. Previously outside of any specific law until now, the new law will set obligations and disciplinary accountabilities of the real estat
07/26/2015
ADX issues new law on trading, clearing and depositary system
The law will determine the best practices in the financial markets
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.
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.