01/02/2020
Kuwait current account surplus hits KD 1.3b in Q3: CBK
Commodity balance surplus nosedives by KD 442.1m to KD 2.57b
Legal, Tax, Regulation & Compliance
01/02/2020
UAE’s banking system provides financial facilitations to retail sector worth AED50.4 billion in 9 months
Financing the retail sector accounts for around 32 percent of the total facilitations received by the country’s commercial sector from January to September 2019, totalling AED157 billion.
01/02/2020
DED cooperates with DIB to support Instant License holders
Instant License enables businessmen to obtain their commercial licenses in one step within five minutes
01/02/2020
Arab World Slow To Embrace Crypto, But Steadily Picking Up
A key factor when analyzing the industry in the Arab world is how nascent industry adoption works within it: From the top down.
12/31/2019
Court acquits Kuwaiti man and other individuals of money laundering
He added the Monetary Investigations Unit and the prosecution officer did not determine illegitimate sources of funds and source of the fund in question, which the unit should have investigated.
12/30/2019
Machhapuchchhre Bank signs loan agreement Mashreq Bank, Dubai
MBL, which has 145 branches across the country, decided to sign the loan agreement to invest in infrastructural projects and other priority sectors, the bank said in a statement.
12/30/2019
Turkey tweaks rules for banks in bid to boost official reserves
The bank has already been trying to support the lira through the swap market.
12/27/2019
Cash-strapped Lebanon to probe ‘suspicious’ capital flight
Lebanon’s banks have since September imposed increasingly tight restrictions on dollar withdrawals and transfers
12/27/2019
Qatar adopts executive regulations to combat money laundering, terrorism financing
The executive regulations also highlight the pioneering and influential role of Qatar in the region in terms of setting standards for its legal and regulatory framework for combating money laundering and terrorist financing.
12/26/2019
Six Saudi organizations claim compliance with GIPS
“The GIPS standards allow firms and asset owners to demonstrate that investment performance reporting meets globally accepted ethical best practices”
12/26/2019
Saudi finance ministry boosts Kingdom’s business environment with new law
New government tender and procurement law
12/26/2019
UAE business owners head for 100% option
FDI Law can set off heavy deal-making as foreign owners buy off local partner shares
12/26/2019
Egypt’s central bank postpones policy meeting to Jan. 16
A Reuters poll indicated the bank was expected to keep its key interest rates steady at Thursday’s meeting.
12/26/2019
Bank Aljazira to hand over insurance portfolio to subsidiary
The transfer will come into effect starting next year
12/25/2019
Ministry of Finance holds the third meeting of the Government Financial Policy Coordination Council of 2019
The meeting was headed by H.E Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Government Financial Policy Coordination Council
12/25/2019
The Central Bank of the UAE and Emirates Foundation sign MoU to promote Financial Literacy
The MoU was signed by HE Saif Hadef AlShamsi, Deputy Governor of CBUAE and Mr. Ahmed Talib Al Shamsi, Acting CEO of Emirates Foundation at CBUAE HQ
12/24/2019
KPMG records double digit growth in MESA
"A strong emphasis is placed on the pillars of trust and quality which we foresee as pivotal, and also in embedding technology into all core functions.”
12/24/2019
Deutsche Bank whistleblower hits back at regulator
But less than eight weeks after the film was broadcast, the DFSA published a finding in a separate matter claiming Ms Waterhouse had "acted without integrity".
12/24/2019
Middle East legislative insight: Qatar excise tax law
It is highly anticipated that Qatar will implement other types of the indirect taxes which will contribute to the Qatar National Vision 2030 by creating new sustainable sources of income to be invested in and which will have long-term economic growth.
12/24/2019
DEWS diligence in Dubai
TMF Group’s new DEWS-compatible structure not only lets employers develop their own compliant scheme, it is flexible enough for cross-border employers to create a single scheme for employees in multiple jurisdictions.