07/08/2014
SCA sets up body for tighter supervision
The economic regulators reviewed the performance of the stock markets in light of Arabtec’s share-price plunge, which had its negative impact on the overall market.
Legal, Tax, Regulation & Compliance
07/08/2014
Kuwaiti bank gets approval to raise up to $425m via bonds
Commercial Bank of Kuwait has received regulatory approval to issue up to 120 million dinars ($425.8 million) of bonds
07/07/2014
Bird & Bird forms cooperation agreement with leading Turkish technology law firm BTS & Partners
The move follows significant client demand for legal services in the region, particularly in the technology and media sectors, where BTS & Partners is an acknowledged market leader.
07/07/2014
Mashreq becomes First Bank in UAE to receive Accreditation from Institute of Internal Auditors, USA
This is a ground breaking milestone for Mashreq
07/03/2014
Dubai's GFH Capital defends action against ex-Leeds Utd chief
GFHC’s senior executive officer, said it also had no control over criminal proceedings, but backed the Dubai justice system, which under UAE law can keep somebody in custody without charge.
07/03/2014
Baker & McKenzie Habib Al Mulla expands UAE presence with DIFC office
Leading law firm Baker & McKenzie Habib Al Mulla has expanded its UAE presence with the opening of an office in the Dubai International Financial Centre on 1 July 2014
07/02/2014
Conyers’ Dennis Ryan promoted to head of corporate services in Dubai
He will hold this position in addition to his role as counsel.
07/01/2014
King & Spalding advises Kuveyt Turk on $500 million Senior Unsecured Certificates
King & Spalding advised Kuveyt Turk Katilim Bankasi A.S. (Kuveyt Turk), one of the leading Turkish participation banks, on the issuance of $500 million senior unsecured certificates due 2019
07/01/2014
Latham & Watkins Advises on SAR2bn sukuk for Banque Saudi Fransi
Latham & Watkins advised Banque Saudi Fransi , a leading lender in Saudi Arabia, in connection with its SAR2 billion Tier II sukuk issuance through a private placement in the Kingdom of Saudi Arabia.
06/30/2014
Wealthy Kuwaiti families embroiled in UK lawsuit over $60m loan
He also noted that the Al Roumi cousins, despite being based in Kuwait, both spoke good English and came regularly to England
06/29/2014
Dentons advises The National Bank of Ras Al-Khaimah on its USD1 billion Guaranteed Medium Term Note Programme
The EMTN Programme was arranged by the National Bank of Abu Dhabi and Standard Chartered Bank, who also acted as Joint Lead Managers in relation to the Note issue.
06/29/2014
Israel: Stress test finds Israel banking system stability safe from recession
The central bank noted that the concentration in Israel's credit market would also lead to sharp increases in bond yields
06/27/2014
Kuwait Cbank Approves Final Format Of Basel III Standard
CBK Aims To Boost Banking Sector’s Reputation
06/26/2014
CBB and BBS hold periodic consultative meeting
The panel reviewed the new eBanking services through new electronic systems in order to facilitate the financial transactions
06/26/2014
UAE Central Bank says blank cheque guarantees for banks illegal
It is illegal for bank customers to pay any additional interest on their loans
06/25/2014
National Bonds Corp appoints new Sharia Supervisory board members
National Bonds Corporation, the leading Sharia-compliant savings and investments company in the UAE, has appointed new members to the Fatwa and Sharia Supervisory Board as part of its priority to ensure the effective compliance of its products, financial
06/24/2014
Addleshaw continues management overhaul with Gulf and Asia heads
The management shake-down is a bid to simplify reporting lines devolve power to fewer key members of the firm.
06/24/2014
Mena task force lauds Qatar’s measures in anti-money laundering
Qatar’s 2010 Law established a comprehensive framework for AML/CFT supervision and enforcement covering the entire range of business sectors (financial and other) at risk to money laundering and terrorism financing.
06/24/2014
Sukuk will feature in liquidity guidance given to Islamic banks -IFSB
Banks across the Gulf have been waiting for regulatory guidance on how debt instruments such as sukuk will be treated under Basel III
06/18/2014
Saudis to keep reserve management strategy -c.bank
The country's net foreign assets, swelled by high oil prices, are currently worth about $730 billion, and have been growing at an annual rate of about 9 percent.