UAE central bank issues new rules for payments systems in country, settling dirhams overseas
The Central Bank of the UAE has issued two new regulations that apply to payment systems operating in the country…
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KPMG Report: Despite pandemic, Saudi banks have thrived
KPMG reported recently that the 11 Tadawul-listed banks stayed resilient at the end of December 31st, 2020 reflected signs of…
UAE tourism seen as top play by Bank of America as global travel resumes
The UAE could be one of the biggest beneficiaries from a resumption of global travel in the second half of…
A fundamental change to doing business in the UAE: The new Economic Substance Regulations (ESRs)
The ESRs take aim at "light footprint" presences in the UAE taking advantage of the jurisdiction's lack of taxation, with…
GCC Quarterly Review – Q1 2021
The first quarter of 2021 saw a number of legal developments in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait,…
Turkey to become attractive for Islamic finance
Turkey is likely to become an attractive center for interest-free Islamic finance after a new economic reform package was unveiled,…
Turkish Central Bank's rate hike surprises, pleases economists
Both foreign and domestic economists in Turkey have applauded what they said was an unexpected rate hike by the country's…
Turkey hikes main interest rate to 19% to counter inflation and weak lira
Turkey’s central bank on Thursday sharply hiked its main interest rate to 19 percent to counter rising inflation and the…
Board of Commercial Bank of Dubai elects Al Qutami as chairman
The board of directors of Commercial Bank of Dubai has elected Humaid Mohammad Obaid Al Qutami as chairman, the bank…
Turkey to offer big tax breaks to firms, workers at Istanbul Finance Centre
Turkey’s government will provide tax incentives for banks and other financial companies to base themselves at the planned Istanbul Finance…
Abu Dhabi Global Market partners with OCO Global for US FDI
OCO global is set to help US-based businesses invest in Abu Dhabi Global Market – an international financial centre home…
Egypt's central bank keeps key interest rates on hold
Egypt’s central bank kept its key interest rates on hold on Thursday, the bank said in a statement. The…