04/12/2020
Jurisdictions move towards full implementation of standards for financial market infrastructures
The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to fully implement the PFMI.
Legal, Tax, Regulation & Compliance
04/09/2020
Regulatory, stimulus measures to help UAE banks repel virus
The central bank last week doubled the size of its stimulus package
04/09/2020
Lebanon Draft Crisis Plan Sees Need for $10 bln-$15 bln and Depositor Contribution
It sets out a restructuring of the central bank and commercial banks to include “a transitory exceptional contribution from large depositors” and outlines a special fund to compensate depositors’ losses resulting from restructuring.
04/09/2020
Covid-19 impact on UAE courts and arbitration
Technology has been widely used to mitigate the impact of the global pandemic on the UAE's onshore courts, DIFC Courts, ADGM Courts and arbitration centres
04/09/2020
Dentons plays key role in Oman solar project finance deal
This is a landmark project as it is the largest renewables project in Oman and will be the first renewables IPP for AIIB in the region, with a consortium of international and regional banks also participating.
04/09/2020
DFSA Takes Measures to Support its Financial Community
The DFSA stands ready to consider any reasonable requests for regulatory relief and DFSA staff are available to answer any questions.
04/09/2020
UAE banks increasing aggression towards debtors during Coronavirus crisis
Most people contacting us have taken a loan or credit card in good faith and serviced the loan for years, never missing payments.
04/08/2020
Qatar to sell triple-tranche dollar bonds amid low oil prices -sources
The bond sale's success will depend on the pricing, which will determine investor appetite for a deal.
04/08/2020
KPMG recommends steps to bolster cybersecurity in the COVID-19 era
Hackers are jumping on the COVID-19 pandemic to exploit global uncertainty
04/08/2020
Lebanon speaker Berri to central bank governor: deposits are "sacred"
The parliament speaker discussed the financial and monetary situation, and ways to protect depositors' money, especially the small ones
04/08/2020
UAE's $70bn stimulus will help bank liquidity but could increase problem loans, says Moody's
UAE's $70bn stimulus will help bank liquidity but could increase problem loans, says Moody's
04/08/2020
QFB holds AGM to discuss performance, future initiatives
The AGM was held at the QFB Lounge premises in Doha, “adhering to all the precautionary measures to ensure the safety of participants.”
04/08/2020
Qatar issues $10bn bonds in international debt markets
The new 2025, 2030 and 2050 bonds launched at a final spread of 300 basis points (bps) and 305 bps, respectively, over the underlying five, and 10-year US Treasury notes, and a final yield of 4.40% on the new 30-year maturity.
04/07/2020
Lebanese banks set 2,600 pounds to dollar rate for small accounts
A senior banking source said this rate would be fixed
04/07/2020
Lebanon to audit central bank accounts
Lebanon’s coronavirus lockdown has compounded woes in a country with a weakening currency, dwindling reserves, and soaring inflation.
04/07/2020
Dubai’s Emaar chairman takes 100% salary cut, assures employees ‘this too shall pass’
A new salary structure will be implemented April 1 onwards, until further notice
04/07/2020
Jordan Central Bank Says Too Early to Predict Impact of Coronavirus on GDP
The International Monetary Fund, which last month approved a four-year $1.3 billion program with the kingdom, had expected Jordan’s economy to grow around 2.1% in 2020 but gradually rise in the next few years to 3.3%.
04/07/2020
Saudi imposes 24-hour curfew in several cities including Riyadh, Dammam
Entry into and exit from the areas under curfew has been banned until further notice
04/07/2020
DFSA Takes Measures to Support its Financial Community
These initiatives are designed to allow the DIFC community to focus on protecting the wellbeing of their staff and supporting their clients during this time of stress and uncertainty.
04/06/2020
CBUAE, ADGM & DIFC issues a joint guidance for banks and finance companies on the application of IFRS9 during COVID-19 pandemic
The Authorities regulate and supervise banks and finance companies that may have clients experiencing financial stresses as a result of the Covid-19 outbreak.