03/13/2020
Bahrain c.bank cuts overnight lending rate to 2.45%
It cut the rate to "to ensure the smooth functioning of the money markets in Bahrain"
Legal, Tax, Regulation & Compliance
03/13/2020
Ex-Barclays CEO Varley Faces Quizzing in $2 Billion Suit
Former banker Jenkins also to face questions during June trial
03/13/2020
Commercial Bank of Dubai okays up to 40% ownership for non-UAE nationals
CBD's shareholders also approved the distribution of 20.7% cash dividends
03/13/2020
Iran asks IMF for $5 billion emergency funding to fight coronavirus
A slowdown in economic activity caused by the virus outbreak and a sustained closure of its borders are expected to lead to a contraction this year.
03/13/2020
Director of FX broker Numex gets 8-year ban
Ehsan Tayefi, director of Numex Foreign Exchange Corporation (UK) Ltd, is now banned from acting as a director or directly or indirectly becoming involved in the promotion, formation or management of a company.
03/12/2020
Muddy Waters founder calls new NMC Health debt 'a massive fraud'
How a $2.7bn hidden debt tips the troubled UAE-based hospital operator into a full-blown accounting scandal
03/12/2020
UAE Central Bank to support banks in Covid-19 impact
Central bank assures all support to maintain stability of the UAE banking system
03/12/2020
Banque Havilland Investigated by FCA Over Qatar FX Manipulation
The lender has had communications with both regulators, a lawyer for the bank said March 5 outside of court.
03/11/2020
Lebanon banks agree to ease some curbs on cash-starved depositors
Banks would not be allowed to withhold any part of money freshly transferred into a Lebanese account.
03/10/2020
Emirates NBD Digitizes Trade Finance With LiquidX
The trade involved a major crude oil producer from the Middle East selling to a large Singaporean global commodity trader.
03/10/2020
Tunisia cuts 2020 growth forecast, seeks new IMF deal
Tunis struck a deal with the fund in December 2016 for $2.8 billion package
03/10/2020
Saudi's Petrochem signs $800mln financing deal with Samba, Riyad Bank
The credit facility's duration is four years, to be repaid in 8 semi-annual scheduled installments
03/10/2020
Central Bank of Bahrain bans freezing of accounts after job loss
The central bank said that the move is aimed at ensuring sound and fair banking practices, taking into consideration the interests of customers
03/09/2020
Saudi bank loans granted to public, private sectors increase 8 percent
In the meantime, the worth of loans provided to the public sector grew by 5 percent yearly to SAR 57.9 billion by the end of January.
03/09/2020
Central bank of Bahrain to verify compliance by insurers
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said the CBB will co-ordinate efforts with Bahrain Insurance Association’s health insurance committee to this effect.
03/09/2020
Bahrain's Shura set to vote on new bankruptcy law
The changes are set to be debated and voted on during Sunday’s weekly session of the Shura Council
03/09/2020
Coronavirus: UAE airlines offer refunds, free travel date change
In light of restrictions brought about by the Covid-19 virus.
03/09/2020
Britain’s lucrative ties with the Gulf states have been tested by court shocks
The accusations against Sheikh Mohammed make uncomfortable reading for many, including the Queen and the Foreign Office
03/09/2020
Lebanon suspends banks’ asset freeze
On Monday the prosecutor separately called in 15 banks over more than 2 billion dollars in capital flight despite the restrictions in the two months after the start of the protests.
03/09/2020
EU sanctions two Turkish executives
These persons are responsible for or involved in planning, directing and implementing offshore hydrocarbon exploration activities in the Eastern Mediterranean which have not been authorised by the Republic of Cyprus.