05/12/2020
DFSA takes regulatory action against two firms and three individuals
Al Masah Capital and Al Masah Capital Management face fines
Legal, Tax, Regulation & Compliance
05/12/2020
Bin Aweidha confirms to Banking Day that World Investments plans to go ahead with Xinja funding
On March 24, Xinja released a statement saying that World Investments had pledged to invest A$433 million in the bank.
05/12/2020
UAE not to hike VAT rates and follow Saudi move
UAE to maintain 5% VAT, says finance minister
05/12/2020
UAE Central Bank, ADGM to host fintech event in November
Fourth event in series will focus attention on more breakthroughs in financial services
05/12/2020
Turkey Lifts UBS Lira-Ban
Turkey has opted to pursue of number of financial market players based in London on suspicion of currency manipulation.
05/12/2020
More Arab Countries Could Start Hiking Taxes to Boost Economies
UAE finance ministry said it denied there were any plans currently to raise VAT.
05/11/2020
Dubai real estate fund says irregular trading dented share price
The company has been “increasingly concerned that our share price is trading at unusually low levels, compared with the rest of the REIT market, and that it has experienced unusual price movements.
05/11/2020
Qatar Central Bank Is “Actively Working” on Fintech Initiatives, and Exploring Blockchain Use Cases
The QDB aims to improve credit access and will help SMEs in taking part in the country’s evolving economy, Sheikh Abdulla stated.
05/11/2020
UAE criticised for ‘ineffective’ sanctions and money laundering efforts
The country’s effectiveness in investigating and prosecuting money laundering, penalising firms for facilitating financial crime and co-operating with authorities in other countries were all deemed “low” – the FATF’s lowest s
05/10/2020
The IFSB and AMF renew Mou to support the development of the Islamic finance among member countries
The continuation of collaboration signifies the commitment of both institutions in increasing awareness and promotion of the sound practices of Islamic finance based on its tremendous potential for the advancement of financial services industry.
05/10/2020
GCC arbitration centre gets $5.5m claims in Q1
Secretary General In charge Nasser Al Mogahwi said the arbitration centre has been strictly following its 'not more than only one claim each month' policy
05/10/2020
Syria’s money man falls foul of Basher al-Assad’s ruling family
The billionaire Rami Makhlouf bankrolled his cousin the president’s war, but now the regime is turning on him
05/08/2020
UAE criticised for ‘ineffective’ sanctions and money laundering efforts
The accusations are made by the Middle East and North Africa division of the Financial Action Task Force
05/07/2020
Over 1,000 DIFC companies enrol in end-of-service scheme
It represents 85% of all eligible organisations in the Dubai-based financial centre
05/07/2020
QCB launches instructions for financial institutions to address coronavirus risks
The QCB’s step is in light of the current conditions in the world and the region and to complement the precautionary efforts and measures taken by the State of Qatar to prevent and reduce the spread of Covid-19.
05/07/2020
Turkey push for cheap credit pays off as banks turn on taps
In Turkey, that drive resulted in deep interest-rate cuts and a series of regulations aimed at forcing banks to lend, including a new asset ratio introduced last month.
05/07/2020
Qatar Wealth Fund seeks $7.6 billion loan backed by stock
Qatar Investment Authority is in discussions with banks for a margin loan
05/07/2020
UPDATE 2-Junk-rated Bahrain to brave markets with dollar bond issues
The International Monetary Fund has said Bahrain’s fiscal deficit is expected to jump to 15.7% of gross domestic product (GDP) this year from 10.6% in 2019.
05/07/2020
UAE launches initiative for Islamic finance
The Islamic finance sector will benefit greatly from a unified international legal and legislative framework.
05/07/2020
EBRD provides US$ 175 million financing package to Turkey’s DenizBank
Of the new funds, US$ 100 million will be dedicated to support DenizBank’s financial instruments and products that facilitate international trade and finance.