06/17/2019
UAE enhances cooperation with Cyprus and Belgium
During the meeting, Obaid Al Tayer highlighted the advanced investment and legislative environment of the UAE and its advanced infrastructure as well as macroeconomic stability.
Legal, Tax, Regulation & Compliance
06/17/2019
Al Baraka Banking Group & Eazy financial Services inks MoU
EazyNet biometric payment services will provide ABG’s customers a safe, more convenient and more secure way to conduct all banking transactions and purchases through ATMs and point of sale.
06/17/2019
Cabinet restructures Emirates Development Bank board
The EDB was established to contribute to the economic and social development of the UAE as a key partner in providing financial services for development.
06/17/2019
UAE, Hong Kong sign agreement on the mutual promotion and protection of investments
The agreement was signed by H.E. Younis Al Khoori, Undersecretary of MoF and H.E. Dr. Bernard Chan, Undersecretary for Commerce and Economic Development, Hong Kong, in the presence of officials from both sides
06/17/2019
UK Trying to Settle £1.25b Claim by Bank Mellat
Bank Mellat is 80% privately owned, with the Iranian government holding a 20% stake.
06/14/2019
Turkish central bank holds rates, shifts its focus to ‘disinflation’
The central bank hiked its benchmark one-week repo rate by 11.25 percentage points last year, last raising it in September to support the lira in the face of a currency crisis that has tipped the economy into recession.
06/14/2019
How Lebanon Will Dodge Its Looming Debt Crisis
The country has a fiscal deficit, which measures the amount the government spends more than its revenues, of 11% of GDP in 2018 up from 8.6% the prior year, according to TradingEconomics.
06/14/2019
Saudi Arabia issues 390,000 work visas during first quarter
Saudi Arabia has issued over 390,000 work visas in the first quarter of the year according to the figures released by the General Authority for Statistics.
06/14/2019
Ex-Emirati Chairman, Expat CEO Sentenced to 15 and 10 Years in Jail Respectively
They abused their public office and misappropriated funds
06/13/2019
Insurance premiums in Bahrain grow 6% in 2018
Government investments in infrastructure projects have also provided new underwriting opportunities for further growth: official
06/13/2019
DIFC rolls out ‘crucial’ insolvency law in cross-border move
New regime based on international standards to ensure business and investor confidence in the region
06/13/2019
Oman to introduce Common Reporting Standards
The Sultanate is also taking steps to ratify the relevant instruments under the Base Erosion and Profit Shifting framework.
06/12/2019
FMS.next has been enhanced to support PSD2 and Open Banking requirements
The solution comes with a preloaded set of APIs to cover requirements of directives, implementing all necessary security mechanisms for authentication and consent management.
06/12/2019
MOF Debt Management Office wins three "GlobalCapital" Awards
The awards were received by Sultan Al-Khalil of DMO's Financial Institutions and Investor Relations Department and Abdulaziz AlHebaishi of DMO's International Issuances Department at the annual awards ceremony held in London
06/12/2019
Dubai Issues New Financial Centre Insolvency Law After Abraaj Collapse
The new law introduces a "new debtor in possession bankruptcy regime" for debtors that have filed for bankruptcy but still hold assets, according to a statement on the Dubai's ruler official website.
06/12/2019
Invest in Sharjah to hold 5th FDI Forum in November
Discussions will explore existing and emerging opportunities in major FDI sectors in the UAE and the region
06/12/2019
Executives in Dh619m share fraud ordered to pay Dh1.24b
Ex-chairman and ex-director of government-owned entity jailed 15 years and 10 years
06/11/2019
Tax authority looking into Israeli accounts in Cayman Islands
Thousands of Israeli-held accounts in the popular Caribbean tax haven are under review, says Israel Tax Authority Director Eran Yaakov.
06/11/2019
Qatar imposes restrictions on UAE bank over 'currency manipulation' probe
QFC said in March that FAB had failed to produce documents relevant to the currency manipulation investigation.
06/11/2019
Former Pakistan President Asif Ali Zardari arrested in fake bank accounts case
Pakistan’s most powerful opposition leader arrested after bail rejection in bogus accounts