01/06/2022
Saudi Superyacht Dispute Pits Credit Suisse Against Gulf Prince
filing. The property estate, situated close to the storied Wentworth Golf Club outside London, was valued at 35 million pounds ($47 million) in 2019.
Legal, Tax, Regulation & Compliance
01/05/2022
UAE Faces Risk of Inclusion on Global Watchlist Over Dirty Money
Finance watchdog expected to make its decision early this year
01/05/2022
Saudi prince at war with bank over £48M super-yacht
The Swiss bank says two companies defaulted on two loans it had provided to refinance the purchases, and claims Prince Fahad, the guarantor for the loans, is the ultimate beneficiary of the assets, Bloomberg reports.
01/05/2022
United Arab Emirates: How To Be Protected From Bank Fraud And Procedures To File A Complaint
Once the criminals have intercepted the data on the card's magnetic strip and /or the user's secure pin, the data is then used to create fake cards with which funds are then fraudulently withdrawn.
01/05/2022
New UAE law: 11 things all bank account holders should know
The UAE’s revised Commercial Transaction Law came into effect earlier this week
01/05/2022
QCB issues QR600m treasury bills for Jan
Treasury bills are issued through auction for banks operating in Qatar.
01/05/2022
The Law Office of Salman M. Al-Sudairi and Latham Advise on the first ever IPO of a technology start-up in Saudi Arabia
Jahez’s SAR1.6 billion IPO marks the first listing in 2022 in Saudi Arabia.
01/05/2022
DIFC launches specialised court for digital economy
“The goal of the judicial system and courts in Dubai is to deliver prompt justice in a country where the law prevails,” he added.
01/04/2022
Barwa Real Estate obtains three global accreditation certificates
AlBinali emphasised that this achievement will constitute an additional incentive to continue Barwa Real Estate’s plans towards developing new projects that adhere to international standards.
01/04/2022
Deloitte's 1,100 employees in UAE adopt Monday-Friday work week
“The new working week will also bring the UAE’s financial services sector into closer alignment with global real-time trading and communications-based transactions such as those driving stock markets, banks and financial institutions.”
01/03/2022
Saudi central bank to launch repo operations using Bloomberg from this month
New system to increase efficiency of liquidity management in Saudi banking system
01/03/2022
United Arab Emirates Updates Federal Labour Law
Beginning 2 January 2022, the entirety of the United Arab Emirates’ existing labour law (Federal Law No. 8 of 1980) and any subordinate regulation will be repealed and replaced with the new Federal Decree-Law No. 33 of 2021 (the Labour Law Decree).
01/03/2022
Suez Canal Bank participates in 2 securitisation issuances worth EGP 200mln
The bank participated with EGP 100mln in the securitisation issuance of Global Corp
01/03/2022
UAE cheque rules: A big leap towards global best practices
Law to bring more clarity and flexibility in cheque transactions
12/30/2021
Dubai unifies all government health insurance systems; announces new benefits
The move covers all government insurance schemes, including Saada
12/30/2021
Saudi Central Bank approves Gulf Union Al Ahlia's capital raise to $122mln
The increase will double the company's capital
12/30/2021
Turkey’s banking field registers USD5.8b of net profit
Regarding the liabilities part, deposits kept at lenders in the country amounted at about 5.2 trillion Turkish liras (USD401.7 billion) in the end of November
12/29/2021
Saudi cabinet approves law of evidence to develop the legislative system
The law of evidence will achieve a “major qualitative leap in the judicial legislation system,” the crown prince said
12/29/2021
Binance Gets To Be The First-ever Crypto Regulator In The Middle East North Africa
In-principle approval is a sign that Binance must complete the application process in full and expects to complete “in the near future,” the announcement notes.
12/28/2021
Qatar Chamber urges inactive companies to strike off their commercial registrations
Companies that fail to abide by such procedures alongside the submission of financial statements will be prone to pay financial penalties of QR500 for each day of the delay (maximum QR 180,000), according to Article 24 of the Income Tax Law.