07/31/2019
Bahrain’s money supply increased by 9.2%
The regulator’s monthly statistical bulletin for last month indicates an overall improvement in monetary and banking indicators
Legal, Tax, Regulation & Compliance
07/30/2019
Collapsed Buyout Firm Abraaj Fined Record $315 Million by Dubai
At the time AIML entered into provisional liquidation, because of the activities referred to above, two funds managed by AIML had a combined shortfall of at least USD 180 million.
07/30/2019
Dubai Financial Services Authority fines two Abraaj companies Dh1.15 billion
The DFSA started an investigation in January 2018, which was across multiple jurisdictions
07/30/2019
Dubai DIFC partners with Indian state of Maharashtra
The parties agreed to mutually support fintech start-ups based in their respective markets
07/30/2019
Burj Kadi secures funding from AIB-Bahrain
As per the agreement, the bank will provide financing facilities to prospective customers who plan to purchase properties in Burj Kadi, by providing them with property financing at competitive rates.
07/30/2019
New partnership emerges between two major banks in Middle East
Doha Bank, which is based in the United Arab Emirates, has announced it will work alongside Habib Bank, which is based in Pakistan.
07/30/2019
Noor Bank, National Bonds partner to bring customers value-added benefits
Customers can buy saving certificates with credit cards at no extra charge
07/29/2019
Dubai and India to enhance financial collaboration
The meetings were set up to discuss DIFC’s strategic plans and the Centre’s roadmap for growth, while exploring mutually beneficial partnerships with Indian firms and financial institutions.
07/29/2019
Turkey plans to move central bank, treasury units to Istanbul
Most of Turkiye Cumhuriyet Merkez Bankasi’s functions, including its key decisions and operations, are expected to be relocated to Istanbul within two years and initial work on the move will start soon.
07/28/2019
Building the court of the future in Dubai: Amna Al Owais on leading DIFC Courts
From tech developments to international relationships, DIFC Courts has grown significantly in recent years
07/26/2019
Turkish central bank slashes rates below 20% in first shift since crisis
The bank lowered its benchmark one-week repo rate from 24%,
07/25/2019
IHG strengthens midscale portfolio in Dubai with signing of Holiday Inn Dubai Deira Islands
Once completed, the development is set to transform old Dubai into a hub for leisure, tourism and retail.
07/25/2019
CBK Gov. sees higher bank profitability amid economic improvement
Financial buffers help the government adopt a countercyclical fiscal policy, increasing public sector wage bill will make the future path less sustainable.
07/25/2019
State fund sells Gulf Bank stake
KIA still owns stakes in other banks, including a 24 percent stake in Kuwait Finance House and a 19.2 percent stake in Bank of Bahrain and Kuwait.
07/24/2019
ADGM and OneConnect collaborate on FinTech development, innovation
Building connectivity and partnerships with key stakeholders such as OneConnect will help Mena FinTech participants tap opportunities in the Belt and Road corridor, and develop deep digital capabilities to accelerate the adoption and deployment of FinTech
07/24/2019
ESIC issues $600mln sukuk
Investor demand for the Sukuk was exceptionally strong
07/24/2019
Oman hires banks for dual-tranche dollar bond
The announcement comes after the small Gulf oil producer - bruised by a slump in energy prices over the past few yars - published encouraging deficit figures late last week, giving some respite to its debt investors.
07/23/2019
Kushner to finalise Middle East economic plan on tour of region
The official said the purpose of the trip is to "continue on the momentum that was created at the workshop in Bahrain and finalise the economic portion of the plan".
07/23/2019
Dubai Chamber holds dialogue on engaging young Emiratis
Bringing together representatives from government entities and private companies across the UAE, the activity formed part of efforts by Dubai Chamber – the organisation that represents Dubai’s business community - to support UAE Vision 2021
07/23/2019
Kuwait - Female bank manager jailed in fraud, money-laundering
An unknown person assisted her in forging official documents from the bank, which she used for the transactions.