09/30/2019
SAMA delivers positive assessment of the Saudi Arabia’s economy
Saudi Arabia registered GDP growth of 2.21% to $700bln in 2018, compared to a decline of 0.74% in 2017
Legal, Tax, Regulation & Compliance
09/30/2019
CBUAE seeks expert comments on crowdfunding draft regulation
The central bank said that the objective of introducing this regulation is to put in place a framework for licensing, regulating and monitoring loan-based Crowdfunding Platforms.
09/27/2019
Qatar National Bank gets approval for first Hong Kong branch
QNB, which received approval for the branch from the Hong Kong Monetary Authority, said it would provide a full range of banking products and services and that the launch was part of an international expansion plan to establish a foothold in key markets l
09/27/2019
DLD signs a number of MoUs in conjunction with Cityscape Global 2019
Besides its remarkable activity in welcoming visitors as well as local and foreign delegations, especially investors wishing to familiarise themselves with the investment horizon in the Emirate, DLD, through its different sectors and departments, signed n
09/27/2019
Financial institutions gear up to integrate UAE Pass
Some banks will accept the digital authentication system by early October
09/27/2019
Egypt cuts interest rates for the third time this year as stocks rebound
The Arab world’s most populous nation has been determined to bring inflation under control after it devalued the currency by half in 2016
09/26/2019
The Woman Trying to Shake Up Israel’s Financial System
Banking Supervisor Hedva Ber describes how she’s injecting competitive spirit into a financial sector with socialist roots.
09/26/2019
Sharjah Ruler approved 161 employment cases on humanitarian grounds
The cases covered 75 men and 86 women in Sharjah
09/26/2019
Kuwait suspends work permits for expats in cooperative societies
Step taken in order to implement and follow up the policy of Kuwaitization
09/25/2019
Anglo-Gulf Trade Bank chooses TAS Group solutions to manage payments for its corporate clients worldwide
The agreement with Anglo-Gulf Trade Bank provides for the supply of the above mentioned TAS platforms, delivered in the cloud through Microsoft Azure, a SWIFT-certified Service Bureau run by TAS for a period of three years and a system integration service
09/25/2019
Deutsche Bank CEO warns central banks have no tools left to ‘cushion’ a ‘real economic crisis’
The ECB in particular has eased aggressively, lowering its deposit rate by 10 basis points to a record low of -0.5%.
09/25/2019
Dubai firm loses £42,000 in phishing attack
Spoofed email trick customers of Dubai-based company into transferring £42,000 overseas
09/25/2019
Kuwait central bank issues $19.75bln bonds, related tawarruq in nine months
The bonds and related tawarruq are offered by the CBK to regulate liquidity in the market
09/24/2019
Qatar Financial Centre adds to its reach through Bloomberg Television
In a bid to boost Bloomberg's editorial reach in the region the media giant launched a studio in QFC.
09/24/2019
U.S. legal firms file lawsuit against Turkish Islamic bank for supporting terrorism
The case against Küveyt Türk is one of many seeking to “bring justice against international banks that have provided material support to or aided and abetted terrorist organizations,” the press release said.
09/24/2019
Are You Aware Of Bank Guarantee In UAE?
The issuing bank or the guarantor has distinctive obligations as that of the principal debtor.
09/24/2019
‘Banks face challenges amid growing customer needs’ – Debts rise
He said the global economy was facing intensifying headwinds, and the financial industry was at a cross-roads which required exploration of new service methods.
09/24/2019
Fintech Abu Dhabi partners with UAE Banks Federation
Through the partnership with UBF, FinTech AD serves to provide a platform for UBF members to accelerate and showcase their digital transformation agenda and initiatives.
09/23/2019
Saudi oil struck, Fed cuts rates and China slows
The global economy is chugging along, but the picture from the US is mixed and China continues to slow down, meaning that investors need to think very carefully about how they position portfolios.
09/23/2019
ECB's monetary stimulus to continue, says QNB report
They included a cut in policy rates, the reinstitution of large scale net asset purchases or quantitative easing, more attractive 'targeted longer-term refinancing operations for banks, and stronger forward guidance signs to investors.