03/16/2021
GTA announces partnership with Commercial Bank and QIIB
The two MoUs were signed at the headquarters of the General Tax Authority, Doha.
Legal, Tax, Regulation & Compliance
03/16/2021
28-year sentence for Saudis and expats in a $182 million corruption case
The duo allowed the expats to invest in their commercial unit, use their bank accounts, deposit money they obtained illegally, and transfer it abroad.
03/16/2021
The 25 most noteworthy innovations in UAE's government sector
Noor Abu Dhabi is the world’s largest single-site solar project.
03/15/2021
Qatar, China sign protocol amending pact for avoidance of double taxation
The signing ceremony was attended Qatar Airways Group Chief Executive, H E Akbar Al Baker.
03/15/2021
Oman to levy 5% VAT from next month
It is estimated that VAT will contribute raise around 400 million Omani riyals per year.
03/15/2021
GCC banks brace for new wave of mergers after ‘triple shock’ to profitability
The second M&A wave could begin when the full impact of the weaker operating environment on banks becomes visible, Mohamed Damak, senior director at S&P Global Ratings saidThe GCC banking sector is bracing for a second wave of mergers and acquisit
03/12/2021
NBK- Egypt launches smart membership card for Heliopolis sporting club
In line with the Directions of the Government and the Central Bank of Egypt for Transformation to Digital Economy
03/11/2021
UAE's robo-advisory Sarwa to offer zero-commission trading service
The new service is regulated by the ADGM Financial Services Regulatory Authority
03/11/2021
Dubai Economy issued 4,796 new licenses in February 2021
Among the new licenses issued in February 2021, 57% were professional (2,730), followed by 41.5% commercial (1,992), and the rest were distributed among tourism and industrial activities
03/11/2021
UAE businesses that must register in anti-money laundering systems
The deadline for non-financial businesses is March 31; failure to register could result in closure.
03/10/2021
DIFC records highest number of annual registrations since inception in 2020
The wide range of new clients further contributes to the breadth and depth of DIFC
03/10/2021
Oman to cut income tax on SMEs, offer investors long-term residency
To boost economic growth
03/10/2021
Bad loan provisions surged across UAE’s four biggest banks last year: Moody’s
Banks have strong buffers despite pandemic
03/10/2021
Bank Muscat continues anti-fraud campaign to raise public awareness
The bank’s special educational campaign is being carried out using various methods including Oman TV, radio, print and online media, and various social media channels.
03/09/2021
Secret guilty plea revealed in US Panama Papers criminal probe
Joachim Alexander von der Goltz repaid the U.S. government more than $230,000 after admitting to financial crimes revealed by the ICIJ investigation.
03/09/2021
Ashurst advises on $516 million ADES International takeover
Subject to the offer becoming unconditional, PIF has agreed to subscribe for shares in Innovative Energy in order to provide Innovative Energy with the financing required to acquire the ADES Shares from ADES Shareholders who accept the offer.
03/09/2021
QCB in process of issuing security controls applicable to fintechs
As a result, the QCB developed practices and response mechanisms to tackle cyber-attacks on the financial sector to enhance financial institutions’ cyber security capabilities.
03/09/2021
United Arab Emirates attracts corporate billions to climb tax haven ranking
A Dutch finance ministry spokeswoman said it had introduced a withholding tax to target flows of money to low-tax countries, including the United Arab Emirates and Bermuda, and to prevent the Netherlands being used as a conduit. It, however, estimates tha
03/08/2021
Saudi central bank extends deferred payment, guaranteed financing programmes
A statement published on the central bank website also said a guaranteed financing programme had been extended for an additional year until March 14, 2022 to support small and medium enterprises.
03/08/2021
Saudi central bank extends deferred payment, guaranteed financing programs
A statement published on the central bank website also said a guaranteed financing program had been extended for an additional year until March 14, 2022 to support small and medium enterprises.