08/20/2020
QFMA sheds light on key efforts and achievements in its 2019 annual report
The QFMA also seeks to regulate the mechanism of conducting business related to securities
Legal, Tax, Regulation & Compliance
08/20/2020
Dubai law to regulate family businesses
The Law No (9) of 2020 Dubai, which defines the terms of the family ownership contract, and the powers and obligations of its manager, is valid from the date of its publication in the Official Gazette.
08/20/2020
QFCRA takes disciplinary action against former CEO of company
The Tribunal noted that the financial penalty and prohibition imposed by the Regulatory Authority was appropriate given Russell’s conduct but, given certain reasons, the Tribunal commuted the financial penalty.
08/20/2020
Saudi Marketing signs $26.67mln financing deal with Bank Albilad
The facility will finance the company's working capital requirements
08/20/2020
Abu Dhabi in talks with banks for new international bond deal, sources say
It is now discussing a new transaction and has picked a group of banks to arrange it, said two sources familiar with the matter without identifying the banks involved.
08/20/2020
Ex-Guardian Wealth Qatar CEO hit with fine and ban
But financial hardship and coronavirus see the penalty commuted
08/19/2020
QPay witnesses more than 4-fold jump in transactions in 2019
In 2019, transactions under Qatch increased in both value (24.17%) and volume (10.64%) terms over the previous year.
08/19/2020
UAE residents flying back to Dubai still require GDRFA approval
A directive that went into effect on Wednesday had said all expats with UAE residency visas can enter the country without prior approvals
08/19/2020
ADIO, ADQ join forces to boost Abu Dhabi's digital economy, startups
The collaboration includes transferring the ventures fund, which was set up through Ghadan 21, to ADQ
08/19/2020
DIFC launches new license starting at $1,500 for startups and entrepreneurs in Dubai
Businesses can secure up to four visas when renting a desk space within the freezone
08/19/2020
Dubai fraudster David Haigh made bankrupt after losing $5m case
Haigh was deputy chief executive of GFH Capital, the investment banking arm of the Bahrain group, and led its purchase of a 24 per cent stake in the English football club Leeds United in 2013.
08/19/2020
Mohammed bin Rashid enacts amendments to DIFC’s Common Reporting Standard Law
Updated Law enhances the Centre’s transparency
08/18/2020
Gulf International Bank signs partnership with Alnahda
Specifically, in support of their leadership of the Women 20 (W20), one of the official G20 Engagement Groups, focused on closing the global gender gap and women's empowerment
08/18/2020
UAE's first ETF tracking Sharia-compliant index lists on UAE markets
The Chimera S&P UAE Sharia ETF will have two different share classes that will track a Sharia-compliant index compiled from stocks listed in Abu Dhabi and Dubai
08/18/2020
UAE Fintech NymCard Granted In-Principle Approval to Hold, Transfer Customer Funds, while Issuing Payment Cards
As first reported by MENAbytes, NymCard says it’s the first firm to have been given in-principle approval in 2020 by the FSRA.
08/17/2020
Saudi Arabia Launches a New Event Focused on Tech
Backed by a multitude of government organisations, LEAP will serve as a catalyst for monumental digital transformation across every sector of Saudi industry and business.
08/17/2020
How the world reacted to UAE, Israel normalising diplomatic ties
Nations, groups and individual stakeholders in Israeli-Palestine conflict react to UAE and Israel normalising relations.
08/17/2020
Bahrain Seen Needing More Gulf Aid as It’s Downgraded by Fitch
Lower oil prices and the global coronavirus pandemic have combined to stretch its finances.
08/17/2020
Bahrain to set up committee to counter money laundering and terrorism
The new body will report to the country’s cabinet
08/16/2020
UAE lenders banking on gradual recovery
Financial institutions' performance to largely depend on economic rebound