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’
Legal, Tax, Regulation & Compliance
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
11/26/2021
Lebanon’s central bank vows to cooperate with audit as pound dips
Lebanon is in the throes of the deepest economic crisis since its 1975-1990 civil war.
11/25/2021
2 former government officials appear before Seychelles' Supreme Court in missing $50 million case
The $50 million was granted to the Seychelles' government by the United Arab Emirates in 2002.
11/25/2021
UR Islamic Bank selects CapitalCompliance
Capital Banking Solutions has been awarded the contract for the deployment of its integrated Anti-money laundering and tax evasion solution named CapitalCompliance
11/24/2021
Apple sues Israeli spyware firm NSO Group
This action from Apple follows criticism from other tech firms including Microsoft, Meta Platforms (formerly Facebook), Google-owner Alphabet and Cisco Systems.
11/24/2021
Initial results from IMA study shows room for improvement on diversity, equity & inclusion in finance and accounting in MENA
62% of management accounting professionals of all backgrounds believe the industry is ‘equitable’ and two-thirds (67%) say it is ‘inclusive’ – but only some female professionals agree
11/24/2021
Banks in UAE waive over $272mln debts of 4,511 Emiratis
The noble move aimed at easing the burden of UAE nationals, consolidating the values of tolerance and cooperation and implementing charitable and humanitarian initiatives established by the country's leadership: senior bank executives
11/24/2021
Dubai Bank Pays $100 Million to Resolve Sanctions Violations with DFS, OFAC and Federal Reserve
Mashreqbank processed more than $4 billion in illegal payments over the four-year period using this technique to disguise the illegal payments.
11/23/2021
Dubai’s DAFZA, Export Bahrain sign agreement
The MoU seeks to encourage companies across the two countries to expand joint trade relations and enhance cooperation
11/23/2021
Bank of Israel pledges to keep policy accommodative as risks remain
The shekel last week reached a 26-year high versus the dollar and 20-year peak against the euro.
11/22/2021
Egypt issues regulations for SPACs
Also, the ownership percentage of legal persons shall not be less than 50 percent of the capital, while the proportion of financial institutions or qualified investors shall not be less than 25 percent.
11/21/2021
Standard Chartered facing court case
Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.
11/19/2021
Liechtenstein Confirms Probe into Lebanon’s Central Bank Governor
Salame has repeatedly denied any wrongdoing and said he had demonstrated that his wealth had been acquired before he took up his central bank post in 1993.