04/22/2020
DFSA welcomes Regulatory Sandbox applications for its 2020 Summer Cohort
Firms must provide a clear explanation of their planned business model and the proposed innovative product or service.
Legal, Tax, Regulation & Compliance
04/22/2020
Oman Arab Bank gets regulatory nod for Alizz bank merger
The Central Bank of Oman has approved the creation of an entity with assets of 3.18bn rials
04/22/2020
Aldar teams up with banks to offer low interest rate home finance
The developer is offering mortgages at fixed rate of 1.99% and payment deferrals for up to six months
04/22/2020
Newcastle owner Mike Ashley to bank £17m even if Saudi-funded takeover collapses
The Magpies chief is far from a popular figure with supporters but he appears set to profit from the proposed takeover whatever happens
04/22/2020
UAE employers reminded of insurance obligations during Covid-19
Patients require medical insurance to receive care across government and private hospitals and health centres.
04/21/2020
CBK tells lenders to postpone customer dues
“Banks are urged to process more applications from individuals, corporates and SMEs (small and medium-sized enterprises) whose business operations are affected by the implications of the pandemic,” the central bank said
04/21/2020
UAE borrows $7bn to counter slumping oil prices
OPEC kingpin Saudi Arabia last week raised $7 billion in a bond sale, while gas-rich Qatar sold bonds worth $10 billion two weeks ago.
04/21/2020
Nasser Social Bank launches 15.5% savings certificate for medical staff
A one-year certificate with a 15.5% yield will be launched to pay tribute to the medical staff nationwide
04/21/2020
Dubai’s largest bank sees decline in revenue over Coronavirus
The Emirate NBD put aside $697 million for risks in recognition of a potential deterioration in credit quality in subsequent quarters related to the coronavirus pandemic.
04/21/2020
Middle Easterners Apply for Citizenship by Investment From Dominica
Last year, the Financial Times' Professional Wealth Management magazine ranked Dominica as having the best CBI programme in the world.
04/21/2020
Abu Dhabi 'Executive Regulation of Human Resources Law' released
The regulation lists 14 key provisions including the appointment of graduate interns, part-time work for UAE nationals, overtime compensation, appointment of civil and military retirees, empowering people of determination (persons with disabilities) and s
04/20/2020
ITA announcement 22 March 2020 to postpone mandatory dates for submission of 2019 Israel individual income tax returns
Additional extensions are granted on a rolling basis by the Israeli Tax Authorities
04/20/2020
Collapse of the banking system could mean the end of Lebanon
Lebanon’s leadership has no understanding of the regional changes taking place, as was the case in the 1970s.
04/20/2020
Merged SHUAA Capital entity holds first general meeting virtually
General Meeting approves the Board of Directors' report in respect of the activity and financial position of the Company for the financial year ending 31 December 2019
04/20/2020
EY ordered to pay whistleblower $11m in Dubai gold audit case
Court rules accountancy firm breached code of ethics in its dealings with a refiner
04/20/2020
Asset buffers and fiscal discipline protect Abu Dhabi from external shocks, says finance head
The government is focused on maintaining a resilient balance sheet through returns on assets and optimising spending, chairman of Department of Finance says
04/17/2020
Banks in Bahrain warned against wage funds misuse
CBB warned banks against using the funds tosettle companies’ financial obligations
04/17/2020
Islamic Authority and Arab States in a Time of Pandemic
The most pressing goal is to shut down sites of potential contagion as Ramadan approaches.
04/17/2020
UAE banking sector resilient because of government support
With adequate measures in place, the UAE Banks Federation is confident that the current crisis will be overcome
04/17/2020
Finance minister: Saudi Arabia facing current global crisis from position of strength
He pointed to the country’s huge reserves and relatively low debt obligations as factors that would allow it to withstand the slowdown of the world economy due to the coronavirus pandemic.