04/06/2020
Asian investor cleared of laundering Dh278 million in UAE
The defendant was sentenced two years in jail followed by deportation.
Legal, Tax, Regulation & Compliance
04/06/2020
UAE Central Bank Boosts Anti-Coronavirus Stimulus to $70 Bln
The UAE regulator said on Sunday it has halved banks' reserve requirements for demand deposits to 7% from 14%, which will inject about 61 billion dirhams of liquidity to support banks' lending and liquidity management.
04/03/2020
Firms given extra 6 months to implement seismic UAE regulation
But views are mixed on whether the legislation should be delayed
04/03/2020
Kuwait central bank announces stimulus to support vital sectors, SMEs
Liquidity and capital adequacy requirements for banks reduced, risk weighting for SMEs cut
04/03/2020
Redundancy and restructuring in the UAE
Redundancy and restructuring processes are sensitive and challenging topics in any jurisdiction.
04/03/2020
World Bank ramps up support for fragile MENA countries
Some of the countries already specified by the World Bank as recipients of the coronavirus aid are Yemen, Lebanon, Egypt, and Morocco
04/03/2020
Bahraini court's ruling against Iranian Bank lacks legal value: FM Spokesman
In such conditions, a legal ruling issued by a judicial system is incomprehensible and could only indicate that the court lacks any legal credibility and is only implementing orders and decisions from the Bahraini government’s political and security
04/02/2020
Qatar fines Horizon Crescent Wealth QR30mn for violations
HCW was licensed in the Qatar Financial Centre (QFC) on February 4, 2015, as a trust administrator.
04/02/2020
UAE's IA set to issue six-month delay on BOD-49 implementation
The new rules, known as Circular 12, relate to life insurance and family takaful insurance will introduce a 4.5% commission cap on the sale of lump sum portfolio bonds or offshore bonds.
04/02/2020
Central Bank of the UAE hosts its 3rd Board of Directors Meeting for 2020
The meeting took place under the chairmanship of H.E. Hareb Masood Al Darmaki, the Chairman of the Board.
04/02/2020
COVID 19: How Dubai banks can make your life, businesses easier this April
These measures implemented by Emirates NBD, Mashreq, Commercial Bank of Dubai, Dubai Islamic Bank, and Emirates Islamic will be available from 1 April to 30 June, 2020
04/02/2020
Gulf Banks Put Brakes on Lending as Dollar Liquidity Crunch Looms
Alzarka said sectors such as automotive, aviation, retail and manufacturing are all looking for liquidity, often after having drawn down revolving credit facilities with banks.
04/01/2020
Turkey widens emergency response with bond buying
The latest step, unveiled two weeks after the central bank’s first round of emergency measures, amount to “Turkish QE
04/01/2020
Saudi Arabia cabinet approves MOU between SAMA and Dubai Financial Services Authority
Earlier this month, the central banks of the United Arab Emirates and Saudi Arabia, the two largest Arab economies, announced stimulus plans worth a combined $40 billion to ease the impact of the coronavirus outbreak in their respective countries.
04/01/2020
Dubai, Abu Dhabi governments ease burden of private businesses hit by coronavirus
The DIFC will also allow deferred payments for all properties owned by DIFC Investments for a period up to six months
04/01/2020
UBF in sync with regulator to ensure banks support UAE economy
Lenders have already rolled out initiatives to reduce the economic woes of clients struggling due to coronavirus measures
04/01/2020
Turkey widens emergency response with bond buying
The Turkish central bank has already stepped up its government bond purchases at a dramatic clip, propping up a market reeling from unabated capital flight and the prospect of increased borrowing needs.
03/31/2020
Egypt central bank seen keeping interest rates on hold this week: poll
All but two of the 11 analysts polled thought the bank would keep rates steady at its regular monetary policy committee meeting on Thursday
03/30/2020
Egypt's central bank places limits on cash withdrawals
Customers told to avoid paper money and adopt electronic transfers in a bid to control the spread of coronavirus
03/30/2020
Lebanon to finalise turnaround plan by year-end to mend 'broken' economy, finance minister says
Highly-indebted country has a four-point agenda of structural reforms, fiscal consolidation, banking sector reorganisation and debt restructuring