09/09/2022
Abu Dhabi Development Fund financed projects worth $202m in 2021
Government entity's finances, investments and bank deposits stood at $42.7bn as of December
Legal, Tax, Regulation & Compliance
09/09/2022
QFMA issues covered short selling rules, securities lending, borrowing rules
The importance of the new rules is that they add new financial services activities aimed at increasing the volume of activities
09/09/2022
Saudi Fund for Development finances $18.4bn worth of projects in developing countries
The Federation of Saudi Chambers joined hands with the development fund to promote the use of local resources in the procurement of projects and capitalize on ways to maximize benefits to the Kingdom’s business sector.
09/09/2022
Saudi Arabia to highlight sustainability successes during G20 Development Ministerial Meeting
They will also review the progress that has been made on plans and commitments agreed during the first Development Ministerial Meeting in Matera, Italy, last year.
09/07/2022
Central bank demand for gold remained robust in July, World Gold Council says
Qatar Central Bank was largest buyer of bullion, adding 15 tonnes of gold to its official reserves in July
09/06/2022
Saudi Industrial Development Fund approves $20bn loans since Vision 2030 launch
The new figures come as the Saudi Deputy Minister of Industry and Mineral Resources announced the imminent launch of the National Industrial Strategy, according to Arabic news outlet Asharq Alawsat.
09/06/2022
QNB Group announced as Official Partner for Lusail Super Cup
“We are delighted to welcome QNB Group as an Official Partner for the Lusail Super Cup. QNB continues to be a major supporter of sporting events in Qatar as the country builds up to the FIFA World Cup in just a few months’ time.”
09/06/2022
KIPCO shareholders approve company’s merger with QPIC
‘This transformative transaction will make combined entity one of the largest public investment holdings in the MENA region’ says company’s Group CEO
09/02/2022
AGDM regulator fines five financial institutions for breaching reporting requirements
The penalties and administrative fees range from $8,169 to $32,403
09/01/2022
Egypt issues first Islamic micro-financing license
On Monday, Egypt’s Finance Minister Mohamed Maait said that the government plans to issue Islamic sukuk between $1.5 billion and $2 billion once the effects of the war in Ukraine on global markets ease.
09/01/2022
Qatar central bank grants first digital payments license
QNB’s open banking platform builds on earlier work with Ooredoo which allowed Ooredoo wallet holders to access banking facilities such as virtual IBAN, virtual MasterCard, payroll solutions and remittances.
09/01/2022
QFC authority and UBS Asset management to collaborate
On innovative sustainable private markets initiative
08/31/2022
UAE central bank launches digital portal amid effort to be ‘among top central banks globally’
Website visitors will be able to access various digital services, such as the purchase of commemorative coins, museum visit bookings, along with other interactive platforms
08/30/2022
Arab countries’ deposits at Central Bank of Egypt hit $13bln end-March
UAE and Saudi Arabia deposited $5bln each, while Qatar placed $3bln
08/26/2022
Egypt Central Bank increases cash withdrawal limits
the limits were imposed as part of a plan to mitigate the coronavirus pandemic. But bankers say the limits helped tamp down the black market in foreign currency by reducing the amount of available cash.
08/25/2022
UAE central bank urges Islamic Financial Institutions to appoint Emiratis as trainees
The Resolution includes guidance for IFIs on the membership of the trainees
08/24/2022
UAE Data Protection Law: The requirements and ensuring compliance
The UAE cabinet has established the UAE Data office as Competent Supervisory Authority to ensure federal law enforcement.
08/24/2022
Saudi Central Bank approves two new Fintech companies
SAMA is currently working on developing and implementing an integrated high-standard network to carry on Open Banking Solutions in the Kingdom
08/23/2022
UAE: Over 70 nationalities can get visa on arrival for up to 180 days
30-day, 60-day and 90-day visa eligibility, application process explained
08/22/2022
Egypt’s new Central Bank Governor has 3 important issues to address
Abdalla will deal with a lot of other urgent files, on top of which are the coordination between the fiscal and monetary policies