03/28/2012
H.E. Hamood Sangour al Zadjali, Executive President of the Central Bank of Oman, revealed to the Oman-based newspaper Muscat Daily that the first draft of Islamic banking rules is almost ready and it is being updated with comments from local banks.
03/27/2012
Despite rising prices and volumes this year, the three markets in Dubai and Abu Dhabi have underperformed most global indicators since 2008.
03/26/2012
Dubai officials said on Saturday it will implement a new company licence initiative by the end of 2012 aimed at improving the process of doing business in the emirate.
03/22/2012
All banking executives sitting on the boards of directors of the UAE’s top banks are to face more scrutiny and will undergo a 'fitness test' to assess their expertise, the UAE central bank governor announced on Tuesday.
03/21/2012
While concerns about further economic uncertainty continue to be top of mind for business leaders, issues such as fraud and ethics, mergers and acquisitions, large programs, new product introductions, and business continuity were identified among the top
03/21/2012
Claims are pending against Hapoalim and its board over the Pozitif transaction, based in part on Dankner's failure to disclose his personal interest in the deal, which, in a court statement, Ziv said he knew nothing about.
03/21/2012
Energy specialist Cavet joined legacy firm Denton Wilde Sapte from Simmons & Simmons in the summer of 2010 and will relocate to Kuwait to take on the leadership role.
03/20/2012
The move came as the credit rating agency Moody's Investors Service warned of a funding crisis brewing in the Gulf.
03/19/2012
SJ Berwin’s senior partner-elect is putting international expansion at the centre of his strategy, with a US merger a “work in progress” and a Singapore launch and expansion in Dubai firmly on the agenda.
03/14/2012
Supervisor of Banks David Zaken fined Bank Hapoalim for overcharging customers who closed their accounts.
03/06/2012
The FATCA Seminar was tailored to address the unique needs of Middle Eastern institutions, including Islamic banking and takaful insurance structures as well as sovereign wealth funds, and family offices.
03/06/2012
Fierce competition, lack of regulation, low profitability and underwriting losses also cause decline in customer service, which later might trigger mistrust in the insurance sector among the public.
03/05/2012
The Curtis Kuwait office will be headed by David Pfeiffer, who joins Curtis as a partner with 16 years of experience in Kuwait.
03/01/2012
Qatar makes a play for top financial centre
Dubai is due to bring in regulations that could make it more difficult for Dubai International Finance Centre (DIFC) registered funds to market their products outside the financial free zone to investors in other parts of the UAE.
03/01/2012
US targets Dubai bank over Iran curbs
The US Treasury Department has disrupted a Dubai-based banking operation that the United States believes was Iran's main conduit for evading international sanctions and processing oil sales, the Wall Street Journal reported.
02/27/2012
DIFC Courts draft Code of Conduct
The consultation period during which the Courts welcome constructive feedback from Court users will be open until 4:00 pm March 13, 2012. Interested persons can view the Code on the Courts’ website, by searching ‘Code of Conduct’ and are
02/23/2012
Taylor Wessing celebrates 15 years of legal practice in the UAE
Originally founded in 1997 as Key & Dixon and rebranded to Taylor Wessing in 2002 following a merger with the European practice, Taylor Wessing (Middle East) LLP is one of the longest established international law firms in the UAE. With its founding p
02/22/2012
DIFC aims to double in five years
Although no financial details were released along with the operating review, Mr Al Awar sought to reassure bondholders that a US$1.25 billion (Dh4.59bn) sukuk repayable in June would be met.
02/21/2012
Swiss Re applies for DIFC licence
This will be a first for the global reinsurer, which has never had an office in the Mena region before.
02/17/2012
No plan to restrict DIFC Business
The tax-free DIFC business park is home to the regional offices of banks including Citigroup Inc, Goldman Sachs Group Inc and Morgan Stanley.