04/06/2022
Lebanon judge lifts travel ban on 2 bankers
The measures affected the heads of Bank of Beirut, SGBL and Bankmed, in addition to Blom Bank and Bank Audi.
Legal, Tax, Regulation & Compliance
04/06/2022
Bank Nizwa signs agreement with Ministry of Labour to support ‘Sahim’ program
In accordance with the agreement, Bank Nizwa will provide timely and relevant Islamic finance options
04/05/2022
Standard Chartered: UAE requires AED 2.5trln investment to transition to Net-Zero
Report reveals potential impact of Net Zero on Household Consumption
04/05/2022
GTA sets April 30 last date for submitting tax returns
The General Tax Authority called on all Qatari companies to commit to submitting the tax return for the tax year 2021 before that date to avoid financial penalties in accordance with the Income Tax Law and its Executive Regulations, as the tax return must
04/05/2022
Dubai Financial Services Authority signs MoU with Central Bank of Mauritius
The MoU places an emphasis on technologies pertinent to financial services
04/05/2022
Lebanon's central bank not bankrupt, governor says
Country's economy contracted about 58 per cent between 2019 and 2021, World Bank figures show
04/01/2022
UAE's new labours laws trigger 'significant changes' to employment contracts
HRNews about some of the key employment law changes
04/01/2022
Saudi Arabia makes $5bn deposit in Egypt Central Bank
It is part of the kingdom’s efforts to support Egypt’s economy
03/31/2022
Reserve manager: Central Bank of the UAE
The Middle Eastern institution approved a new investment policy, allowing it to diversify into new asset classes and, for the first time, allocate part of its portfolio to external managers
03/31/2022
Egypt’s CBE, Arab Monetary Fund ink agreement to tap regional payment settlements, set-offs
In line with Egypt Vision 2030, CBE has adopted a strategy that focuses on digital transformation and financial inclusion, particularly in the banking sector.
03/29/2022
All sectors return to activity in Bahrain says CBB data
The outstanding balance of total loans and credit facilities provided to Bahrain’s resident economic sectors increased to BD10.9 billion at the end of January 2022
03/29/2022
Saudi Central Bank’s net foreign assets fall for third month in a row
The February decline in foreign currency reserves also affected the level of the central bank’s total assets, which fell by $9.41 billion in month to $478 billion.
03/29/2022
Central Bank of Bahrain issues revised collective investment undertakings regulations
The new framework acknowledges the demands placed by the fast-paced changes in the fund management industry and therefore aims at lightning the administrative processes and simplifying the authorisation requirements for establishing and marketing CIUs
03/29/2022
EU states freeze $130 million worth of Lebanese assets
The European Union Agency for Criminal Justice Cooperation, or Eurojust, said the investigation targets five suspects accused of money laundering.
03/29/2022
CBB treasury bills oversubscribed
The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain
03/28/2022
EBRD and FATEN boost women entrepreneurs in West Bank and Gaza
The EBRD loan will help FATEN to increase funding to women-led local, private MSMEs in the West Bank and will be accompanied by 20 per cent first-loss risk cover for FATEN.
03/28/2022
Baker McKenzie earns top awards in Saudi Arabia and the UAE at the Chambers Middle East Awards 2022
“Saudi Arabia Banking & Finance Law Firm of the Year” – Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited
03/25/2022
Fines up to Dh1 million for breach of UAE's new Labour Law, warn lawyers
Luke Tapp and Ruth Stephen have been writing about this for Outlaw, commenting on the new implementing regulations that supplement the new labour laws.
03/25/2022
Eastern Caribbean Court of Appeal enforces Qatari Royal Family oral will and holds that BVI shares are movable property
The court dismissed the appeal and affirmed the decision of Justice Ellis in the BVI High Court below.
03/24/2022
FRA issues licensing controls for non-banking fintechs
This step is in line with the previously issued decisions to empower women in the boards of directors of companies subject to the authority’s oversight.