07/28/2020
World’s Best Sub-Custodian Banks 2020
Subcustodians make cross-border securities investing possible
Legal, Tax, Regulation & Compliance
07/28/2020
Appeals court increases fine on four banks, three officials in money laundering case
The Iranian men and the four Iranian state-owned banks – Future Bank, Bank Saderat, Bank Melli and Bank Saderat, Doha – are all facing charges in five money laundering cases worth billions of dollars in a Bahrain-based bank .
07/28/2020
Fraudster David Haigh told he faces jail if he fails to provide financial details to a UK court
A judge has given the former executive of Bahrain’s GFH Financial Group two weeks to provide the documents
07/28/2020
Oman picks FAB and Bank Muscat to arrange $2bln loan - sources
The one-year loan would subsequently be repaid with money raised from an international bond
07/27/2020
Lebanon central bank governor inflated assets as liabilities grew, says audit
Most central banks record seigniorage, usually defined as a profit made from printing money, as an income stream.
07/27/2020
Dubai-China FinTech agreement brings new opportunities for DIFC
Dubai-Chengdu bridge to benefit FinTech firms in both jurisdictions
07/27/2020
Regulations in digital assets bring more confidence to investors in Gulf countries
Regulators are creating an environment where investors and customers feel safe to dabble in a secure manner, KARM Founder says
07/27/2020
SICO to offer sukuk-based Murabaha service
The unique service allows participating financial institutions to offer Sharia’a-compliant Murabaha service through an efficient process, and hence contributing to promoting the Kingdom of Bahrain as a hub for Sharia-compliant transactions.
07/27/2020
Emirates NBD completes customer migration to Smart Pass
Strong two-factor authentication for safer digital transactions
07/27/2020
Kuwait sovereign wealth fund fights court battle with fired executives
London arm of KIA alleges top managers conspired to award unlawful pay rises
07/24/2020
Abu Dhabi's NMC Health seeks another $250m in bank funds
UAE and international banks already have an exposure of $6b plus in hospital operator
07/24/2020
Al Salam Bank becomes first bank in Bahrain to complete customer handover of Deerat al Oyoun Villa under Mazaya Scheme
Al Salam Bank customers can now purchase their dream family home under the Mazaya Social Housing scheme with no down payment or administrative fees.
07/23/2020
Region's first: Dubai's DIFC-based GRIP to raise $10mln via digital securities
The issuance is the first major globally compliant digital securities offering in MEASA
07/23/2020
Lebanon hires US firm for central bank probe
Alvarez & Marsal forensic audit seeks answers to mounting finance crisis
07/23/2020
Region’s first global digital security capital raise from the DIFC
The issuance also cements the DIFC’s position as the leading financial hub in the region, thanks to its robust, yet innovative legal and regulatory framework which helps nurture innovation and adoption of technology.
07/22/2020
Lebanon contracts Alvarez & Marsal to do forensic audit
The move to name Alvarez & Marsal came after weeks of delays after other companies were not accepted because of alleged links to Israel, with whom Lebanon is at war.
07/22/2020
Loans worth $537mln approved for SMEs - Central Bank of Jordan
Central Bank approves 3,942 loan requests from enterprises hit by pandemic
07/22/2020
Emirates NBD raises foreign ownership limit to 40%
UAE indices were pulled higher by global cues, notably EU's 750b euro stimulus
07/22/2020
Al Salam Bank Partners With Bahrain Bourse and Central Bank of Bahrain on New Shari’A-Compliant Asset-Trading Framework
The innovative new structure meets a growing demand for Shari’a-compliant alternative financing solutions, which has prompted a rise in global Sukuk issuances.
07/22/2020
Kuwait runs into resistance on bill to boost borrowing
Kuwait raised $8bn in March 2017 in its first sale of international bonds