06/01/2020
Saudi Arabia's central bank injects 50bn riyals to boost liquidity of financial sector
The move is part of the central bank's efforts to support the kingdom's financial institutions
Legal, Tax, Regulation & Compliance
06/01/2020
Investor confidence rebounds as trade licences rise in May
The total number of licences issued in the UAE in May reached 648,684.
06/01/2020
Saudi Arabia PIF’s $40bn boost aimed at post-pandemic profit
Since the COVID-19 crisis began, the PIF has spent $7.7 billion amassing a portfolio
06/01/2020
Sharjah hires banks for $1bn sukuk sale
A sale could happen as soon as this week and proceeds will be used for general budgetary needs, sources said
06/01/2020
Curbing money laundering
SCB agreed to settle OFAC’s claim for $132m regarding 911 transactions worth around $133m to or through the United States in violation of Iranian Transactions and Sanctions Regulations (ITSR).
05/31/2020
Dubai back to business: DIFC Gate Avenue to reopen from June 1
Working hours is aligned to federal directives on sterilisation programme
05/31/2020
Qatar grants USD10 billion to Turkey to ease Lira's collapse
As the country ran down its hard currency buffers in the currnet year, it collected a group of 20 countries to be included in swap deals such as the ones the US has given to other emerging economies.
05/31/2020
Shariah-compliant instruments can put the S in ESG
Social instruments could also be used directly to support households by compensating them for lost income, and by providing access to affordable basic services, such as education and health care.
05/29/2020
Lebanese MPs await IMF remarks on capital control law - MP
The draft capital law aims to protect what is left of Lebanon's hard currency reserves, member of parliament Alain Aoun told Reuters.
05/29/2020
Turkey’s Central Boosts Short-Term FX Borrowing to a Record
The central bank’s gross reserves have dropped by $20 billion in the period.
05/29/2020
Directors' duties and UAE corporate bankruptcy
Directors and managers should ensure they are clear on their responsibilities under the applicable insolvency regimes in order to avoid claims of mismanagement and liability.
05/29/2020
Lebanon removes banking secrecy rules to fight corruption
The move opens the way for investigations into bank accounts of current and former officials such as Cabinet ministers
05/29/2020
Beirut’s bank chief comes under fire over crisis
Protesters blame central bank governor for taking Lebanon close to bankruptcy
05/29/2020
Banks in Saudi, emerging markets will see spike in bad loans- S&P
Lenders with exposure to SMEs, retail, real estate to see biggest impact
05/28/2020
Legal fraternity in Qatar advocate increased Pro Bono hours to keep businesses afloat
Recently, Qatar International Court and Dispute Resolution Center offered Pro Bono services to spearhead the delivery of swift, fair, and efficient judgments as part of an innovative legal model for commercial and civil dispute resolution.
05/28/2020
Egyptian government prepares new economic stimulus package
The government is already providing aid to several of the commercial sectors most affected by the pandemic
05/28/2020
Kuwait MP set to grill finance minister over fund corruption
The corruption case involves a Malaysian Fund and a Chinese company
05/28/2020
OECD recognises UAE's efforts in fighting coronavirus
The commendation followed an ongoing analysis issued by the organisation about the possible impact of the Covid-19 outbreak on countries
05/28/2020
Union Properties subsidiary announces $408.4m legal figh
Company is taking action for construction works completed around ten years ago
05/27/2020
Qatar achieves self-sufficiency in essential products; supply chain well diversified: KPMG
Retail malls are facing difficulties as the countermeasures of the pandemic has led to closure of all stores