07/15/2020
Saudi company sues Natwest over ‘$5m scam’
It claims that after the payment was made, large amounts were subsequently transferred
Legal, Tax, Regulation & Compliance
07/15/2020
Saudi's new corporate law will see creation of more flexible companies: Official
New models of companies include simple joint-stock companies, which will have the characteristics of joint-stock companies featuring flexibility in raising capital or in issuing different types of shares
07/15/2020
Turkey's financial regulatory agency fines 7 brokerage houses for violating short selling ban
Short selling occurs when an investor borrows a stock and sells it on the open market, planning to buy it back later for less money.
07/15/2020
Ahli Bank offers ‘Comfort Loan’ scheme
Commenting on the scheme, Muneer Al Balushi – AGM- Head of Retail Distribution, Ahli Bank said, “Ahli Bank always looks at providing new schemes and product offerings to its customers.
07/15/2020
UAE corporate scandals require a clean up
Laws are in place to plug gaps and need to be rigorously enforced for true governance
07/15/2020
Swisspartners exits single markets in Africa, South America and Turkey
While the company is hiring in Geneva and Zurich, some of the services it provides in these two cities may no longer be needed.
07/15/2020
Credit guarantees will boost SME lending in UAE, but risks remain for banks
Other measures include reductions in business fees including trade license costs and the option to delay VAT payments.
07/14/2020
Vodafone Egypt deal delay beneficial: Expert
STC said it would extend the period again — to September — for the same reason.
07/14/2020
Jersey agrees business initiatives with UAE
The webinar advised Jersey companies on how to do business in the UAE, and on the commercial opportunities available as its economy begins to rebuild following the Covid crisis.
07/14/2020
COVID-19 relief: Saudi Arabia allows businesses to delay loan payments for a year
Relief package extended to businesses that have signed up for relief programme
07/14/2020
Turkey moving forward to broaden its Islamic finance base
The statement comes as Islamic finance in Turkey, which is there called “participation banking,” is getting more and more traction in the country after its growth has been made a priority in economic planning by the government.
07/14/2020
Strategic pension reforms rethink by Bahraini lawmakers
Fate of 95,000 Bahraini pensioners and 140,000 Bahraini workers lies on these reforms
07/14/2020
Wealth planning in the UAE: trust or foundation?
Under common law, a trust is not a legal entity in its own right.
07/13/2020
Dubai announces new economic stimulus package worth Dhs1.5 billion
The government has launched many initiatives to support business sectors across the economy.
07/13/2020
1MBD scandal: Kuwait royal family member arrested for money laundering
Sheikh Sabah, business partner were arrested in connection with Malaysian corruption case
07/13/2020
Turkey Revokes Experience Requirement for Central Bank Deputy Governor
The provision, which envisages 20% of the bank's annual profit to be reserved as a reserve fund, has been repealed, the same decree said.
07/13/2020
Jordan presses sweeping tax evasion crackdown to aid ailing economy
The government said it had frozen the assets of dozens of companies and businessmen on suspected tax evasion charges.
07/12/2020
Offshore jurisdictions can soothe investor concerns
But increases in cost in such offshore investment hubs will need a close watch
07/12/2020
Emirates NBD’s capital issuance creates more buffer against impairments
Issuance of $750m AT1 capital increases ENBD’s Tier 1 capital ratio to 17.5 per cent
07/10/2020
Think tank skewers Dubai as hub for ‘dirty money’
UAE officials and regulators reportedly aware it is used as ‘conduit for illicit financial transactions’