11/29/2019
Maina’s son withdraws N58m, Dad over $800K in Dubai
The trial judge turned down the application on the ground that it was defective as it did not follow due legal procedure.
Legal, Tax, Regulation & Compliance
11/29/2019
Saudi-UAE Leaders Confirm Forthcoming Jointly- Issued Digital Currency
On the agenda was a policy to launch a digital currency to facilitate interbank trading between the two countries.
11/29/2019
Bahamas Targets Middle East On Financial Services
The objective of the STEP Arabia conference was to provide delegates with the latest regional legacy planning developments and practical examples from professionals in the field of trust and estate planning.
11/29/2019
Paralegal sues Trowers & Hamlins as head of Abu Dhabi office resigns
A source told RollOnFriday that the paralegal caught two senior members of staff having sex in the office, and was fired when she complained about it.
11/29/2019
Dubai's biggest bank said to cut up to 500 jobs
Sources say Emirates NBD has made staffing cuts across several areas of the bank's operations
11/29/2019
Concern on financial collapse in Lebanon – Crisis deepens
It is an unprecedented situation,” said Nabil Bou Monsef, deputy editor-inchief of the An-Nahar newspaper.
11/28/2019
Dubai International Financial Centre to host flagship future of finance conference at Dubai exhibition centre
DIFC and Expo 2020 Dubai ink agreement to host the region's leading finance conference at Dubai Exhibition Centre
11/28/2019
Nine arrested in Yorkshire over Dubai money-smuggling plot
The organised crime gang is thought to have smuggled millions of pounds out of UK airports, last year.
11/28/2019
Lama Real Estate appoints KHCB as lead arranger to finance ‘Al Liwan’ Project
Total financing arranged by KHCB amounts to a total of $67.6mln in partnership with KFH-Bahrain as a participant
11/28/2019
ICD, AAB sign $10m deal to support SMEs in Uzbekistan
This financing is the third Shari’ah - compliant facility for AAB, which will enable the institution to expand Shari’ah -compliant product offerings along with other banking services.
11/28/2019
Central Bank of Jordan issues warning against promoting, trading with crypto-currency
The bank called on citizens to avoid trading in all kinds of crypto-currency due to the high risks it poses.
11/27/2019
Effective use of Automatic Exchange of information – a role for Tax Inspectors Without Borders
The TIWB initiative is set to launch a number of pilot programmes in support of developing countries' efforts to ensure the effective use of AEOI data.
11/27/2019
DIFC to host region’s leading finance conference at Expo 2020
The event will demonstrate the significant promise represented by Dubai and DIFC as a springboard for growth for the Middle East, Africa and South Asia region.
11/27/2019
Firms fake Dubai permissions
Regulator confirms no such companies are based in the international financial centre
11/27/2019
International community has achieved unprecedented success fighting offshore tax evasion
At the heart of this shift are thousands of bilateral exchange relationships now in place
11/27/2019
Saudi banks’ crackdown on financial fraud sees big fall in cases
Approximately 1,063 cases of fraud worth a total of around SR49 million ($13 million) were reported this year
11/27/2019
Malaysia Gets Abu Dhabi's IPIC Into Court Over 1MDB
The result of this judgement is that the full circumstances and background of 1MDB’s dodgy dealings with IPIC will now be fully examined in open court in London
11/26/2019
Dubai Islamic Bank secures regulatory clearances for Noor acquisition
General assembly to voted on share swap ratio of 1:5.49 on December 17
11/26/2019
Phoenix Thoroughbreds Founder And CEO Named In Money Laundering Case; Company Denies Allegations
A former partner in Locke Lord, Scott on Nov. 21 was found guilty of one count each of conspiracy to commit money laundering and conspiracy to commit bank fraud.
11/26/2019
Istanbul Working on Eurobonds After State Banks ‘Shut the Doors’
The new mayor’s remarks highlight the difficulties he faces running the nation’s largest city after wresting control from Presidetn Recep Tayyip Erdogan’s ruling AK Party.