09/05/2012
UK fails to freeze Mubarak-era assets
Much of that money was invested overseas in countries friendly to the regime. Countries like Britain.
Legal, Tax, Regulation & Compliance
09/04/2012
Foreign banks in Iran face risk of US penalties
The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.
08/28/2012
HSBC Investigated for Money Laundering
Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.
08/28/2012
US regulations probed at forum
The event was organised by the Bahrain Association of Banks and accountancy practice KPMG Fakhro to update the delegates on the best approach for Bahrain.
08/28/2012
Barclays Said to Face Possible U.K. SFO Probe Over Qatar Fees
The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.
08/27/2012
Janata Bank recalls UAE chief
The bank's Dubai branch faces charges of fraud worth $1.3 million; a BB team visits Dubai to further probe the scam
08/26/2012
Complaint filed with Israeli Banking Regulation against Bank HaPoalim
The conduct of the US government and Bank HaPoalim in this case is particularly unreasonable, given that the bank in question is located in Jerusalem - Corpus Separatum by international law.
08/26/2012
Kuwaiti investment firm targets Carlyle in $25m claim
"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.
08/26/2012
US investigates UniCredit over sanctions
Unicredit has confirmed it is co-operating with a US investigation into a possible breach of sanctions.
08/22/2012
Commerzbank admits Iran sanctions investigation
Commerzbank has become the latest bank to admit it faces being fined as part of a US investigation into sanctions busting by international financial institutions.
08/21/2012
Iran looks to Armenia to skirt bank sanctions
With international sanctions squeezing Iran, the Islamic Republic is seeking to expand its banking foothold in the Caucasus nation of Armenia to make up for difficulties in countries it used to rely on to do business, according to diplomats and documents
08/20/2012
UK's most wanted tax fugitives 'in Dubai'
HM Revenue & Customs published the details of the nineteen men and one woman, all wanted for payments totalling £765m.
08/16/2012
Al Mulla calls for overhaul of DFSA, Nasdaq Dubai
In a comment piece in the Financial Times on the decision to split Dubai International Financial Centre Authority (DIFCA) - which governs the financial free zone - into two entities, Dr Habib Al Mulla, said a similar overhaul is needed at Nasdaq Dubai and
08/16/2012
ADX achieves 100% in results disclosure compliance in second quarter
Investors can trade securities listed on ADX through any of its registered brokers and ADX has custody agreements with HSBC, National Bank of Abu Dhabi, Standard Chartered Bank, Deutsche Bank and Citi.
08/15/2012
HSBC dealings in Middle East in spotlight
But the 335-page investigative report into money laundering violations contained a trove of information about HSBC’s dealings in the Middle East, including Iran and Syria.
08/13/2012
Basel III Arrives Early For UAE
Central Bank orders regional banks to meet liquidity requirements from January 2013, in preparation for Basel.
08/12/2012
DIFC Courts launches an appeal to all lawyers in the UAE
The DIFC Courts, the English language, common law judicial system based in Dubai, has launched an appeal to all lawyers in the UAE to lend their professional knowledge to help support the Courts' Pro Bono Clinic initiative and servethose in need.
08/09/2012
Dubai investigates Standard Chartered
The move follows allegations the UK bank concealed as much as US$250 billion (Dh918.26bn) in transactions with Iran that violated US sanctions.
08/08/2012
Clifford Chance advises on Saudi Binladin Group short-term sukuk
Clifford Chance LLP and Al-Jadaan & Partners have advised HSBC Saudi Arabia Limited on the issuance by SBG Sukuk Limited of its third short-term sukuk, guaranteed by Saudi Binladin Group Limited.
08/08/2012
Fraud inquiry threat to Barclays over Arab bailout
Serious Fraud Office collaborating with City watchdog's investigation into controversial deal