12/16/2021
Ex-CEO of Swiss bank Falcon acquitted in money laundering trial
But it found that the bank had breached compliance regulations and did not have sufficient internal guidelines in place to prevent money laundering.
Legal, Tax, Regulation & Compliance
12/16/2021
Bank of Sharjah is working on its Lebanon problem and a solution is in sight, says CEO
Lebanon exposure has been hurting Bank of Sharjah numbers in recent quarters
12/15/2021
Latham Advises Chimera Capital
Transaction represents Chimera’s first venture capital fund close.
12/15/2021
UAE Central Bank imposes penalty on bank under strict anti-money laundering rules
Sanctioned bank failed to meet regulatory framework for extended period
12/14/2021
IIFM and ISDA publish the IBOR Fallback Bilateral Amendment Agreement and IBOR Fallback Definitions Booklet
IIFM and ISDA have also published an ISDA/IIFM Shari'ah-Compliant Bilateral Amendment Agreement template to enable institutions to agree with their counterparties to incorporate the fallbacks for existing Islamic hedges
12/14/2021
UAE Federal Data Protection Law 2021
Businesses will then have a grace period of six months from the date of the Regulations to bring their organisations into compliance with the DP Law meaning enforcement is likely to commence from September 2022.
12/13/2021
Legal Advisors and Baker McKenzie act for the underwriters on Saudi Tadawul Group's landmark IPO
Saudi Tadawul Group Holding's US$ 1.0bln initial public offering and $3.4bln listing on the Saudi Stock Exchange
12/13/2021
FAB to complete acquisition of Bank Audi
Fayed added that the deal will contribute to strengthening the Egyptian investment opportunities
12/10/2021
Dubai regulator fines fund manager for reporting breaches
The DFSA also identified concerns around Equitativa's fund valuation practices.
12/09/2021
Final phase of pay protection plan set in Bahrain
The project was launched in May this year by the Labour Market Regulatory Authority
12/09/2021
Walkers Advises on MENA Region's First Fintech Fund
The fund is backed by a range of prominent investors in the region, including sovereign wealth funds.
12/09/2021
Dubai regulator fines fund manager for reporting breaches
DFSA accepts an Enforceable Undertaking from Equitativa to improve valuation practices
12/09/2021
UAE central bank insurers hit with advice liability notices
FPI says it is in talks with regulator ‘to understand the implications for both providers and advisers’
12/09/2021
Standard Chartered completes first USD Sofr trade loan in Hong Kong
New pricing benchmark adopted in transaction with Qatar National Bank
12/08/2021
Clyde & Co expands Middle East and Africa corporate practice with strategic Partner appointment
Chadi is a corporate lawyer who represents sovereign entities, multinational companies, financial institutions, investors, and sponsors in a broad range of transactions, including mergers and acquisitions, joint ventures, private equity, restructurings an
12/08/2021
Dubai regulator fines Emirates REIT fund manager $210,000 for 'misleading statements'
The DFSA found that on two occasions in 2018 Equitativa made misleading statements regarding one of EREIT's eleven assets
12/06/2021
Legal advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited advises Alarabia on its Tadawul IPO
This is the third company to be listed on Tadawul as part of the media and entertainment industry group, which is partly owned by media conglomerate MBC Group
11/29/2021
Kuwait’s central bank, CMA initiate campaign on crypto assets
Virtual currencies have sharp price fluctuations
11/28/2021
UAE adopts largest legislative reform in its history
Over 40 laws further support society and economy
11/26/2021
CITC seeks public input on new digital content platform regulations
Regulator seeks input from the public in steering one of the country's fastest-growing sectors