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Legal, Tax, Regulation & Compliance

03/22/2023

The Central Bank of UAE Grants Direct Debit Systems License for Marketplace Operations

Merchants will also benefit from the Direct Debit System service as it offers a fixed-fee structure that is cost-effective and saves time, without it affecting their relationship with their banking services provider.

03/22/2023

Regulator FRA (Egypt) sharpens focus on sustainability with UK banking alliance

LIBF and FRA signed a MoU to promote sustainable finance

03/21/2023

Linklaters secures licence to operate in Saudi Arabia

The new office will be the firm’s third in the Middle East alongside Dubai and Abu Dhabi

03/21/2023

Saudi’s SRC, Alrajhi Bank sign landmark refinancing deal

The deal is the largest of its kind signed in the Saudi banking industry

03/21/2023

CBB Treasury bills oversubscribed

The issue date of the bills is 22nd March 2023 and the maturity date is 21st June 2023

03/20/2023

UAE affirms support for Syria’s return to Arab fold: Gargash

Diplomatic advisor to UAE President says renewal of solidarity will usher in stability

03/20/2023

NBK’s AGM approved all BOD’s recommendations

NBK held its AGM with a 71.47% quorum

03/20/2023

SAMA governor rules out Saudi transactions with troubled US banks

SAMA continues to cooperate with its partners in developing the banking sector as well as in supporting entrepreneurs and financial institutions in Saudi Arabia: Ayman Al-Sayari

03/17/2023

UAE to make remote services mandatory for all healthcare providers

Ministry of Health and Prevention to launch Smart Digital Health regulatory framework

03/17/2023

Federal Tax Authority launches 'Muwafaq Package'

Initiative to facilitate doing business among SMEs

03/17/2023

UAE Central Bank gives green light to UAE’s first paperless Direct Debit Marketplace

Accessed only through UAEPASS, the Marketplace offers users peace of mind, with all payments facilitated through the platform being integrated with, and regulated by, the UAE Central Bank

03/16/2023

UAE to make remote services mandatory for all healthcare providers

Ministry of Health and Prevention to launch Smart Digital Health regulatory framework

03/15/2023

Linklaters advises Abraj Energy Services on Oman’s largest IPO in over a decade

Linklaters also advised several entities within the OQ group, subsidiaries of the Oman Investment Authority, as selling shareholders in the transaction.

03/14/2023

Alvarez & Marsal Releases FY2022 UAE Banking Pulse

A&M’s UAE Banking Pulse examines data from the 10 largest listed banks in the UAE, comparing the FY’22 results against FY’21 results.

03/13/2023

Silicon Valley Bank collapse will have very little effect on Kuwaiti banks - Kuwaiti central bank

Kuwait's state news agency reported that the central bank governor had said that the exposure of the local banks to SVB was very limited and that the banks assured him that their business would be barely affected.

03/10/2023

Qatar's FX reserves, hard currency liquidity rose to $64.56bln in February

The bank's international official reserves witnessed a similar growth to reach 176.8 billion Qatari riyals, from 175.8 billion in January.

03/10/2023

Saudi makes visa rule change; opens doors to all GCC residents

Previously, the kingdom was giving eVisas to only those GCC residents with occupations listed on its approved list

03/10/2023

Price competition ‘erodes’ profitability of UAE insurers

However, outlook for UAE, other GCC markets remains stable, says credit rating firm AM Best

03/10/2023

Saudi Arabia, Germany sign 7 deals to enhance investment cooperation

The forum featured panel sessions to explore private sector partnership opportunities.

03/08/2023

Saudi mining giant Ma'aden gets DIFC captive licence

With 17 mines and sites and 6,000 direct employees, Ma'aden is among the world's fastest-growing mining companies

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