11/14/2023
CBO issues treasury bills worth OMR36 million
Treasury bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds.
Legal, Tax, Regulation & Compliance
11/10/2023
UAE tax guide 2024: Everything you need to know
A new tax is on the way in 2024 and businesses need to be prepared
11/09/2023
Ogier launches in Dubai, providing clients with on-the-ground legal, corporate services, and regulatory consulting
Ogier will offer legal, corporate services, and regulatory consulting from its new location in the Dubai International Finance Centre.
11/09/2023
Saudi Arabia grants regional HQ licenses to over 180 companies: report
Investment Minister Khalid Al-Falih says the rate is picking up at 10 companies per week
11/09/2023
Saudi Central Bank sets new rules for APR calculation
The APR is a fixed interest rate for an entire year and offers a complete picture of what consumers will pay for a loan.
11/07/2023
Dubai approves general budget of $67bn for 2024-26 fiscal cycle
The budget lays increased focus on key sectors of social development, citizen housing, government work development, among others
11/07/2023
Kuwait to introduce new corporate tax initiative
This reform will be implemented in two stages and is expected to be fully phased out as early as 2025.
11/06/2023
Internal Auditors Chapter hosts ‘The Anti-Fraud Strategies Masterclass’
Mourtada started his presentation by bringing the context with staggering fraud data. $1.4 trillion is lost annually to scams; cybercrimes are estimated to cost the world $8 trillion in 2023
11/03/2023
Internal Auditors Chapter hosts ‘The Anti-Fraud Strategies Masterclass’
The percentage of fraud cases involving corruption is on the rise from 31% in 2012 to 50% in 2022.
11/02/2023
UAE, Qatar central banks hold benchmark rates steady following US Fed move
The US Federal Reserve's rate target remains at 5.25%-5.5%
11/02/2023
UAE and Jordan sign agreements to expand investment cooperation in key sectors
The UAE’s Ministry of Investment has identified potential investments worth over US $2 billion for the projects in this partnership
10/31/2023
Central Bank of Egypt simplifies credit card use abroad amid speculation crackdown
This comes after the CBE issued some measures on October 17 to curb the misuse of credit cards by some speculators who withdraw cash from foreign ATMs without actually traveling
10/26/2023
Saudi Arabia to enforce January deadline to move regional HQs to Riyadh
Saudi Arabia announced in February 2021 plans to cease contracting with companies whose regional headquarters are not located in the kingdom by Jan. 1, 2024, to help create local jobs for ambitious economic diversification plans
10/25/2023
Turkish central bank expected to raise rates to 35% on Oct. 26: Reuters poll
The median estimate of 20 economists in a Reuters poll for the policy rate was 35%
10/24/2023
Qatar signs 27-year gas supply deal with Italy's Eni
Qatar, already the world's top LNG exporter, in the last two weeks signed 27-year deals to supply 3.5 mtpa from 2026 to Shell and TotalEnergies, its largest and longest European gas supply deals.
10/23/2023
New CBE regulations to facilitate credit card use for Egyptians traveling abroad
Local banks have begun informing their customers about these instructions and how to comply with them.
10/23/2023
Kuwait Finance House - Bahrain signs MoU with ERA Real Estate for “Khudur Homes” residential project
This partnership is a significant step in the Bank's efforts to make homeownership more accessible and affordable to the community
10/23/2023
Saudi Central Bank SAMA, Monetary Authority of Singapore to Work on Fintech Initiatives
The agreement aims to “strengthen collaboration and foster mutual development of the two organizations.”
10/20/2023
Saudi CMA slaps $1.12mln fine on 2 Swiss firms over unlicensed dealings
Firms allegedly engaged in securities activities without obtaining license
10/18/2023
UAE to launch national domestic card scheme
The new card scheme is scheduled for introduction in early 2024.