05/04/2022
Abu Dhabi’s ADDED introduces easy payment plan for business owners
The agreement signed between ADDED and FAB, ADCB, CBD and ADIB will help credit card holders pay the charges for ADDED’s services in installments
Legal, Tax, Regulation & Compliance
05/04/2022
PwC Consulting partners with Sova to deepen talent offering
Launched in 2015, venture capital-backed (Series A of $9 million) Sova helps organisations with two main activities along the recruitment process.
05/03/2022
UAE-India trade deal is new phase of globalisation
Two countries coming together for their mutual economic interests during a crisis and doing what is best for them opens a new world of possibilities
05/03/2022
Bahrain issues crowdfunding regulations to open up new financing avenues
Move comes after comprehensive review of existing rules by the central bank
05/03/2022
The new UAE Labour Law: what employers need to know
The law is designed to enhance employment rights
04/29/2022
CBB issues new crowdfunding platform operators regulations
The new regulations contain rules regarding equity-based crowdfunding and financing-based crowdfunding and are covered under Crowdfunding Platform Operators Module (Module CFP). Module CFP can be found under CBB Rulebook - Volume 5: Type 7 – Ancilla
04/29/2022
Abu Dhabi and Dubai launch cryptoasset regulatory initiatives
VARA will have the ability to restrict or suspend licences and activities, as well as issue fines for organisations or individuals violating its rules.
04/28/2022
Cayman Islands litigation trends from the Middle East – Security for Costs
The Cayman Islands is a "loser pays" jurisdiction in the context of litigation.
04/27/2022
Arab Monetary Fund grants $623mln loans in 2021
The fund also released $403.7mln of previously contracted loans in 2021
04/26/2022
UAE banks’ financial soundness measures remain robust: Central Bank
Direct liquidity support to UAE banks under TESS programme will end in June
04/26/2022
Overview of the New UAE Federal Penal Code
The changes also bring the UAE in line with most other developed nations, which has been a key driving force in the raft of new legislation introduced.
04/25/2022
Oman’s sovereign wealth fund splits into two portfolios
Oman established the Oman Investment Authority in 2020 to own and manage most of its sovereign wealth fund and Finance Ministry assets.
04/25/2022
Sheikh Maktoum approves DIFC Courts’ 2022-24 work plan
New Digital Economy Court to spearhead resolution of disputes linked to emerging tech
04/25/2022
GFH to list its shares on the Abu Dhabi Securities Exchange in May
This will be the Group’s fourth regional listing, with GFH shares already actively traded on the Bahrain Bourse, Dubai Financial Market and Boursa Kuwait
04/25/2022
Lebanon banking group rejects latest draft of financial recovery plan
The government estimates that the financial sector’s losses amount to $72 billion.
04/22/2022
UAE’s new whistleblowing regime ‘significant and positive’ step for employees
“The new regime is significant and positive and takes the DIFC and the UAE further in the journey to create an environment of transparency and accountability.”
04/22/2022
United Arab Emirates freeze assets and bank accounts of Kinahan cartel in Dubai
Just yesterday the agency he founded MTK Global, which had dozens of fighters on its books, was suddenly shutdown.
04/22/2022
Saudi official entities warn against forex trading
Saudi Arabia is accelerating steps towards protecting the financial system.
04/21/2022
ITFC, Saudi EXIM Bank and “Monshaat” sign MoU for Saudi SME development program
Supporting the objectives of Saudi Arabia's Vision 2030, the MoU provides a framework for cooperation on the development and implementation of programs to support enterprises and SMEs in Saudi Arabia
04/21/2022
Lebanon’s parliament session halted as dispute over capital control bill widens
“The plan will write off $60 billion of debt, and the depositors will bear the losses.”