12/10/2012
Standard Chartered hit by $300m in Iran fines
Standard Chartered will pay more than $300m (£187m) to settle charges it violated US sanctions on Iran, Burma, Libya and Sudan.
Legal, Tax, Regulation & Compliance
12/09/2012
HSBC, Standard Chartered Close to Resolving Iran Claims
A Senate committee said in July that failures in London- based HSBC’s money-laundering controls allowed terrorists and drug cartels access to the U.S. financial system.
12/06/2012
Billionaire's daughter with Saudi royal connections and husband 'with nothing but debts' spend more than £1m on divorce battle
The relationship came to an end when the marriage broke down in 2008 and the couple descended into a legal dogfight over money and their children.
12/05/2012
How Turkish banks are affected by move to Basel II
Some factors have helped minimize the impact of the migration to Basel II on banks' regulatory CARs.
12/05/2012
US Justice Dept expands probe into Saudi bank licenses
Barclays did not name specific countries in its October disclosure, but in November, responding to a newspaper report, the bank said it did not make any illegal payment to get a Saudi license.
12/05/2012
Standard Chartered expects further $330m Iran fine
The New York regulator had accused the bank of leaving the United States “vulnerable to terrorists
12/02/2012
UAE tax treaties surge 40 per cent as wealth funds rise
The UAE is accelerating tax treaties with trading partners as global jurisdictions fight to win a greater share of taxable income from foreign investors.
11/26/2012
Kuwait investment firm uses UK court to implement debt restructuring
The Kuwaiti investment company and asset manager, undergoing its second debt restructuring in three years, may be able to implement the plan as soon as next week if it wins the approval of a High Court of Justice in London scheduled for December 3.
11/25/2012
Morocco Eyes Tax On Wealth
The minister insisted that the government would have to make sure that the tax could be adapted to Moroccan society.
11/25/2012
International law firm advises on $900m syndicated facility for First Gulf Bank
The Norton Rose team was led by partner Matthew Escritt with support from senior associate, Ahmet Kalafat.
11/22/2012
BDO Sees Global Revenue Grow in 2012
At year end 2012, BDO provides services in 138 countries and there has been a significant rise in the number of partners and staff working in BDO
11/21/2012
Dubai Group, Banks Said Close to $6 Billion Debt Agreement
Law firm Linklaters LLP, which represents the so-called co- ordinating committee of creditors, is drafting the accord and a final agreement may be reached as soon as mid-December
11/21/2012
Show me the money: Regulators looking for the Gulf's private money
Shadow banking is a catch-all term for an industry that encompasses hedge funds
11/21/2012
UAE signs agreement with to avoid double taxation on income
The United Arab Emirates, represented by Ministry of Finance, signed yesterday an agreement with Mexico to avoid double taxation on income at the Ministry’s headquarters in Abu Dhabi.
11/21/2012
Azerbaijan withdraws both valid licenses for securities management at request of their holders
There were no violations of prudential norms in their actions
11/20/2012
Bahrain bank Alkhair wins key ruling
This is the fifth ruling to date issued against the former chief executive, the report stated.
11/19/2012
Burgan Bank to sue Ex MP
The branch manager has been accused of divulging secret banking information to Al-Mislem who allegedly put pressure on him.
11/19/2012
FATCA Model 2 Agreement Released - Withers
Model 2 essentially builds upon the foundation of Model 1 with some significant differences
11/18/2012
Barclays denies wrongdoing in Saudi Arabia
Jeddah Barclays did not make any "illegal payment" to win a banking licence in Saudi Arabia
11/18/2012
Global law firm ramps up Middle East offering
The firm has bolstered its Middle East offering with the appointment of two partners and one principal associate who have joined the firm's Doha office.