11/02/2023
UAE, Qatar central banks hold benchmark rates steady following US Fed move
The US Federal Reserve's rate target remains at 5.25%-5.5%
Legal, Tax, Regulation & Compliance
11/02/2023
UAE and Jordan sign agreements to expand investment cooperation in key sectors
The UAE’s Ministry of Investment has identified potential investments worth over US $2 billion for the projects in this partnership
10/31/2023
Central Bank of Egypt simplifies credit card use abroad amid speculation crackdown
This comes after the CBE issued some measures on October 17 to curb the misuse of credit cards by some speculators who withdraw cash from foreign ATMs without actually traveling
10/26/2023
Saudi Arabia to enforce January deadline to move regional HQs to Riyadh
Saudi Arabia announced in February 2021 plans to cease contracting with companies whose regional headquarters are not located in the kingdom by Jan. 1, 2024, to help create local jobs for ambitious economic diversification plans
10/25/2023
Turkish central bank expected to raise rates to 35% on Oct. 26: Reuters poll
The median estimate of 20 economists in a Reuters poll for the policy rate was 35%
10/24/2023
Qatar signs 27-year gas supply deal with Italy's Eni
Qatar, already the world's top LNG exporter, in the last two weeks signed 27-year deals to supply 3.5 mtpa from 2026 to Shell and TotalEnergies, its largest and longest European gas supply deals.
10/23/2023
New CBE regulations to facilitate credit card use for Egyptians traveling abroad
Local banks have begun informing their customers about these instructions and how to comply with them.
10/23/2023
Kuwait Finance House - Bahrain signs MoU with ERA Real Estate for “Khudur Homes” residential project
This partnership is a significant step in the Bank's efforts to make homeownership more accessible and affordable to the community
10/23/2023
Saudi Central Bank SAMA, Monetary Authority of Singapore to Work on Fintech Initiatives
The agreement aims to “strengthen collaboration and foster mutual development of the two organizations.”
10/20/2023
Saudi CMA slaps $1.12mln fine on 2 Swiss firms over unlicensed dealings
Firms allegedly engaged in securities activities without obtaining license
10/18/2023
UAE to launch national domestic card scheme
The new card scheme is scheduled for introduction in early 2024.
10/17/2023
Saudi Arabia to introduce new facility management regulation in 2024
The landmark act is expected to elevate the industry’s trustworthiness and investment allure while overseeing real estate facilities.
10/17/2023
UAE Central Bank subsidiary unveils instant payments platform for digital transactions
Aani allows users to transfer and settle funds in less than 10 seconds and will initially support transactions of up to $13,600
10/16/2023
Saudi Fund signs $100mln development loan agreement for climate-smart infrastructure project in Grenada
This milestone marks Grenada as the 91st nation to receive SFD funding for a development project
10/16/2023
Qatar Central Bank Issues Loan-Based Crowdfunding Regulation
QCB classifies Loan Crowdfunding Platforms as innovative financial platforms that connect borrowers in need of funding with diverse group of investors.
10/13/2023
DFSA fines former CFO of listed REIT for being knowingly concerned in misleading statements and accounting breaches
The DFSA found that Mr Ishak was knowingly concerned in those breaches.
10/12/2023
Maples Group Selected to Support Ruya Partners' Private Credit Fund
The Maples Group will be providing full fund administration services for the Fund.
10/12/2023
Commercial Bank of Kuwait successfully completes the issuance of first tranche under subordinated tier 2 bonds program of the Bank
The first of its kind denominated in Kuwaiti dinar
10/10/2023
Deloitte partner Hadeel Biyari wins international tax award
The competition covers all segments of the tax space, including corporate taxation, transfer pricing, disputes, and indirect tax.
10/10/2023
Walkers Scoops Four Nominations as the IFLR Middle East Awards 2023 Shortlist is Revealed
The awards focus exclusively on legal innovation in transactions that reached financial close during the 2022 calendar year.