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Legal, Tax, Regulation & Compliance

10/31/2019

Dubai Police Arrest “Middle East Bitcoin” or Habibi Coin Founder for Defrauding Millions from Investors

Dubai-based entrepreneur faces legal troubles due to Habibi Coin, or the 'bitcoin of the Middle East', due to defrauding investors worth millions of dollars for promising financial freedom through his International Success Group.

10/31/2019

GCC rate cuts: UAE residents will now be able borrow money for lower rates

Lower policy rates unlikely to lift private sector loan demand

10/31/2019

President Kenyatta courts Arab investors to invest in Kenya

President Kenyatta urged Middle East investors not to be deterred by negative media stories that try to depict Africa in negative light while ignoring the growth and prosperity of the continent.

10/31/2019

ICD to subscribe Emirates NBD rights issue

Bank to raise Dh6.45 billion through rights offering

10/30/2019

Saudi Arabia's new bankruptcy law faces key test in the courts

A lack of modern bankruptcy regulations had created difficulties for struggling firms seeking to restructure debt with creditors since the 2009 global financial crisis and the more recent dip in oil prices.

10/30/2019

Xpress Money Expands Operations in China With Geoswift

Enables real-time bank transfers to UnionPay card account holders across 14 banks

10/30/2019

UAE’s tax authority urges tax registration for new excise duties

Failure to register companies and stocks of taxable items to result in hefty fines in UAE

10/30/2019

UAE- Digitrans 2019 to focus on digital transformation

The forum will focus on the trending digital practices in six industry tracks, namely government, banking, healthcare, retail, education, and transportation.

10/30/2019

Swiss Bankers Wrap Saudi Arabia Trip

A delegation led by Swiss finance minister Ueli Maurer on Tuesday wrapped up a trip to Saudi Arabia and the United Arab Emirates

10/29/2019

Bank account information of Iqama holders: UAE ministry approached to seek access

The Iqama holders get artificial residence in the UAE due to which their accounts/balances and other tax-related information are not shared with Pakistan, the FBR added.

10/29/2019

Lebanon's c. bank urges quick solution to avoid future collapse

There is no sign of the government giving ground to protesters, whose demands include its resignation.

10/29/2019

Kuwait - Banks have no right to increase interest rate on a loan

Law No. 305 of the civil law considers invalid every agreement in which payment is given in return of benefitting from the loaned money or lease through deducting interest before actual payment

10/29/2019

Choosing the right agency for your Citizenship-by-Investment application is more crucial than ever before

As the industry matures, governments continue to refine their due diligence processes and tighten regulations in order to protect the integrity of their CBI & RBI programs

10/29/2019

Qatar- In rare win for regulators, Australia's Westpac loses case over marketing cold calls

The court gave ASIC and Westpac two weeks to agree on what public declarations the bank must give.

10/29/2019

Bahrain FDI increases 1% to $262.6m in Q2 2019

Kuwait contributed the most in terms of foreign direct investments into Bahrain, followed by India and the Kingdom of Saudi Arabia

10/29/2019

IMF Says Mideast Markets Most Sensitive to Global Risk

While the funds provided some governments the means to plug deficits relatively cheaply

10/29/2019

Qatar royal family seeks Deutsche Bank chairman departure after huge investment losses

Achleitner’s failure to get Swiss banker Juerg Zeltner onto supervisory board prompts Qatari investors’ call for Deutsche Bank chairman to leave as Qatari ruling family’s investment in German lender takes a hammering.

10/29/2019

Lebanon's closed banks pledge to pay out salaries

The government has yet to indicate it would cede ground to protesters, whose demands include its resignation.

10/28/2019

UAE Accepts Crypto Regulation, Blockchain Projects Stand to Benefit

With the focus usually on China, Japan or the United States, the Middle East is an area that doesn't often get the attention it deserves when it comes to blockchain and cryptocurrencies.

10/28/2019

Dubai CSD licensed as the first independent central securities depository service provider in the UAE

H.E. Essa Kazim: "The post-trade services' revamp further strengthens Dubai's leading position as a center of excellence and a dynamic capital markets hub"

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