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
Legal, Tax, Regulation & Compliance
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
03/11/2022
APBEF-UBA: A new agreement on settlement of disputes between banks
The second agreement concerns the Mediation and Arbitration Centre of the Union of Arab Banks, with a partnership agreement aimed at resolving disputes between the various Tunisian banks.
03/11/2022
Al Rajhi Bank gets CMA nod for 60% capital raise to $11bn
Founded in 1957, Al Rajhi Bank is considered one of the world's largest Islamic banks by capital value.
03/10/2022
Dubai adopts first law regulating virtual assets
A regulatory authority will be established under the new law to oversee the sector
03/10/2022
Lebanon central bank seeks names of those who failed to repatriate funds amid crisis
Banks have denied claims of favoritism toward certain clients, and say they have consistently called on the government to introduce a capital control law to regulate the sector — something the government has failed to do.
03/10/2022
New rules boost Dubai’s international arbitration credentials
The new rules will take effect on 21 March 2022 and will replace rules which have been in place since 2007.
03/09/2022
Qatar First Bank to implement a capital raise of up to 420 million ordinary shares through its Rights Issue
QFB has recently announced its financial results for the year ending 31 December 2021
03/08/2022
Sophia Addas on her career milestone at Alvarez & Marsal in Saudi
Across its 50+ offices globally, Alvarez & Marsal supports the advancement of women through mentorship, training and flexible work models that help women thrive both professionally and personally.
03/08/2022
Saudi Central Bank extends Guaranteed Financing Program for one more year
This comes in line with SAMA’s mandate of promoting financial sector stability, supporting economic growth and enhancing its support to MSMEs development.
03/07/2022
Lebanese bank closes over 30 British-held accounts after UK ruling-depositors’ group
“If this is not accepted, then the bank has no choice but to close the account.”
03/07/2022
UAE Added to Global Watchdog’s ‘Gray List’ Over Dirty Money
The organization noted that the UAE “has made progress” in strengthening anti-money laundering measures
03/07/2022
New rules boost Dubai’s international arbitration credentials
The new rules will take effect on 21 March 2022 and will replace rules which have been in place since 2007.
03/06/2022
UAE affirms commitment to strengthening anti-money laundering efforts
Country will work closely with FATF to address remaining areas of improvement
03/04/2022
Walkers successfully advises SHUAA Capital
This is one of the first SPACs to be launched out of the MENAT region.
03/04/2022
General Tax Authority signs Memorandum of Cooperation with Ministry of Interior
The memorandum was signed by GTA’s Assistant President for Tax Affairs Ghanim bin Khalifa Al Attiyah and Head of Economic and Cyber Crimes Department of the Ministry of Interior Colonel Ali Hassan Al Kubaisi.
03/04/2022
UAE Central Bank approves creation of 5,000 jobs for UAE nationals by 2026 in banking, finance
The announcement follows similar Emiratisation initiatives
03/04/2022
UK Court Orders Lebanese Banks to Pay $4M to Saver
Banks imposed tight controls on accounts, including a de facto ban on withdrawals of dollar-denominated deposits and limits on withdrawals in local currency.
03/04/2022
Abu Dhabi offers exclusive benefits to golden visa holders
They will be entitled to discounts and offers on cars, property, health care, hospitality, health insurance and banking services