10/14/2019
Have a loan in UAE? Central Bank announces new rule
This decision has been made after taking feedback from the public.
Legal, Tax, Regulation & Compliance
10/14/2019
Crowdfunding receives boost in Middle East
Crowdfunding is a catch-all term used to describe different fundraising models that allow a group – 'crowd' – to pool funds and finance specific projects or businesses.
10/14/2019
Ithmaar Bank continues support for Bahrain FinTech Bay
The renewed agreement extends the partnership for another two years
10/14/2019
Saudi Arabia's Bonyan Reit raises 1.2bn riyals through Sharia-compliant loans
The real estate investment trust is looking to expand its portfolio of assets in the kingdom
10/14/2019
Central Bank announces new rules for loan
As a part of the modification, the age demand can currently be determined by lenders as per their risk management and disposition policies, providing customers with larger selection and suppleness,” the financial organization said.
10/14/2019
Saudi banks told to hire nationals in executive roles, regulator says
The move is part of a wider governmental push to replace expatriate workers with Saudi citizens.
10/14/2019
Dubai Chamber and Emirates NBD sign MoU on Digital Silk Road initiative
The smart platform aims to improve the transparency and efficiency of supply chains through a comprehensive automation process.
10/11/2019
BIAC signs 4 agreements to support entrepreneurship and innovation programs
The agreement signed between BIAC and SDB aims to provide the necessary funding, through SDB products, for startups enrolled in incubators and accelerators managed and operated by BIAC in Saudi Arabia
10/11/2019
Singapore's Temasek rules out investment in Saudi Aramco IPO
But Temasek's focus on sustainability and environmental, social and governance principles made it more difficult to support Aramco's share sale, the people said, asking not to be identified because the discussions are private.
10/11/2019
Kuwait’s economic steps in right direction: World Bank
MENA economic outlook subject to substantial downside risks
10/11/2019
Regulators Reject Qatar-Backed Deutsche Bank Board Member
Deutsche’s regulators - the European Central Bank and financial markets watchdog BaFin - have now determined that Zeltner’s position on Deutsche’s board would be a conflict of interest because he is also the chief executive officer of KB
10/10/2019
Bankers ‘hid’ secret Qatar payments from other investors
The prosecution claims that the payments were made to ensure that Qatar’s sovereign wealth fund handed over about £4 billion that would ensure the future of the bank and their own high-profile jobs.
10/10/2019
UAE central bank sets early exit fee limit for mortgages
The apex bank said in a circular that borrowers who had already paid 3 per cent settlement fee can get the refund from their banks within 30 days
10/09/2019
China Could Be the Big Winner of Saudi Arabia’s Race to Become a Tech Hub
Beijing is a natural partner to fast and cheap development, but Riyadh should be wary of alienating its allies.
10/09/2019
Al Rayan Bank’s ex-CEO takes legal action to clear his name and reputation
Although the article does indeed confirm that Mr Choudhury was not the one who supposedly comments on “female genital mutation”, the placement of his picture, as viewed by those without a subscription, strongly implied otherwise.
10/09/2019
CBK’s conditional approval for KFH acquisition of AUB
The agreement comes with a number of technical and legal provisos to ensure that the procedure is transparent and adheres to Islamic principles, Dr Mohammad Al-Hashel said in a statement.
10/09/2019
Dubai Silicon Oasis signs MoU with Mashreq Bank on the sidelines of GITEX
Dubai Silicon Oasis Authority Announces Collaboration with Mashreq Bank as a Strategic Partner for Dubai Technology Entrepreneur Campus
10/09/2019
Saudi central bank vets local lenders ahead of Aramco IPO: sources
The Saudi Arabian Monetary Authority, or SAMA, contacted Saudi banks last week, asking them a series of questions about their lending exposure to Aramco, two of the sources said.
10/09/2019
Bank Nizwa CEO: Compliance with Sharia is key to make Islamic Finance mainstream in Oman
Speaking at the Shura 8th Sharia Audit Conference
10/09/2019
Saudi Amends Requirements to Open Bank Accounts for Foreign Companies
These amendments come in line with SAMA’s supervisory role in overseeing banks operating in the Kingdom.