03/18/2022
Investors pay high price as judges target Lebanese banks
Ibrahim is taking legal action against the bank to recover the $35,000 he claims is owing.
Legal, Tax, Regulation & Compliance
03/18/2022
Central Bank raises interest rate on monetary policy instruments by 25 basis points
The CBJ’s open market operations committee decision was taken in line with the regional and international monetary markets' interest rates changes, to address the anticipated inflation pressures amid the rising global inflation rates
03/17/2022
Turkey to Hold Rates as Ukraine, Fed Test Lira: Decision Guide
All 21 economists surveyed by Bloomberg expect Turkey’s central bank, led by Governor Sahap Kavcioglu, to hold the benchmark one-week repo rate at 14% Thursday.
03/17/2022
Kuwait proposes gradually raising retirement age by three years starting from 2024 - minister
The government will also present a law in parliament about paying retirees a one-time grant
03/17/2022
UAE’s ADNOC awards agreements worth Dhs2.4bn to support upstream growth
Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme
03/17/2022
Qatar's central bank raises repo rate by 25 basis points
The central bank maintained deposit and lending rates at 1% and 2.5%, respectively.
03/16/2022
UAE and Mauritius sign agreement to enhance Central Bank co-operation
Agreement to enhance banking supervision and co-operation
03/16/2022
SAMA seeks opinion of public on its new rules to protect bank customers
Banks have to compensate customers for losses incurred due to hacking, security breach
03/15/2022
General Tax Authority, RACA sign MoU on combating money laundering, tax evasion
The MoU was signed by President of the General Tax Authority Ahmed bin Issa al-Mohannadi and General Manager of RACA Ibrahim Abdulla al-Dehaimi.
03/15/2022
Lebanon judge freezes assets of five banks and members of their boards
Bank of Beirut and SGBL did not immediately respond to requests for comment.
03/15/2022
Linklaters advises Qatar Investment Authority
The transaction was led by Singapore-based private equity partner Robert Elliot.
03/15/2022
Sheikh Hamdan approves Services 360 policy to improve Dubai Government services
The initiative is expected to achieve annual financial savings exceeding Dhs1bn over the next five years and the elimination of nine million physical customer visits to service centers annually
03/15/2022
Lebanon judge freezes assets of 5 banks during probe
Lebanese banks have imposed informal capital controls since the economic crisis began in October 2019 after decades of corruption and mismanagement by the country’s political class.
03/14/2022
UAE, OECD discuss global tax standards, tax challenges arising from digitalising the economy
The UAE Ministry of Finance and OECD officials also discussed the need to address base erosion, profit shifting, economic substance regulations, and common reporting standards
03/14/2022
CBB Sukuk Al-Salam securities oversubscribed
The Central Bank of Bahrain announces that the monthly issue of the Sukuk Al-Salam Islamic securities, has been oversubscribed by 180%
03/13/2022
Central bankers face balancing act amid rising inflation, war and slower growth
Countries face a challenge in replacing supply of commodities from Russia and Ukraine
03/11/2022
Saudi Central Bank extends guaranteed financing program for small businesses
The program encourages Saudi banks to loan to small businesses by guaranteeing a portion of the funds, and was launched in response to the coronavirus-related economic downturn in Saudi Arabia.
03/11/2022
DFSA publishes regulatory framework to oversee cryptocurrencies
Open for public consultation until May 6, the proposed regulations are aimed at protecting investors and ensuring market integrity
03/11/2022
DFSA censures Paymentology Ltd for disseminating misleading and deceptive information
The DFSA found that, in making these statements, Paymentology disseminated misleading or deceptive information in breach of DFSA administered legislation.
03/11/2022
DFSA decisions to penalise Dalma Capital Management Limited and Zachary Cefaratti referred to Financial Markets Tribunal
Both Dalma and Mr Cefaratti dispute the DFSA’s findings and have referred the Decision Notices to the Financial Markets Tribunal