10/31/2018
UAE to amend retail-banking rules
Under the new rule, the bank set new terms and conditions for the transfer of personal loans or personal finance
Legal, Tax, Regulation & Compliance
10/31/2018
UAE legislates to crack down on money laundering
The unit will also supervise and inspect financial institutions and other businesses and non-profit organisations to check their compliance levels.
10/31/2018
UAE central bank issues new rules for retail loan bank transfers
New conditions will see banks and finance companies reduce interest rates without increasing the repayment period
10/30/2018
Tabreed raises $500m with new 7-year sukuk
The new sukuk, which will be listed on the London Stock Exchange, had strong institutional demand both locally and in Asia and Europe, which enabled the issue to be oversubscribed by 50 per cent.
10/30/2018
UAE banks keen to bolster AML steps
Other UBF initiatives include "Tasharuk," a cyber threat intelligence sharing platform for banks in UAE, which will allow them to access tools and intelligence available to better identify, protect, detect and respond to cyber-attacks in a timel
10/29/2018
New UAE law to raise Central Bank's capital
The federal decree designates CBUAE staff as judicial officers and sets up an independent grievances and appeals committee
10/29/2018
Commercial Bank, Microsoft Partner For Digital Transformation
By partnering with Microsoft, we intend to evolve our digital capabilities further, adopting world class technology to transform our customer experience.
10/28/2018
Barclays avoids trial over £6bn Qatar rescue package
Court rules against reinstating charges brought by Serious Fraud Office against bank
10/26/2018
SC seeks details of 20 individuals with properties in UAE
The attorney general told the bench that the government could not arrest those who did not disclose their foreign properties, but the chief justice said the judiciary could at least ask them about the properties.
10/26/2018
NYC pension fund leader asks index providers to reconsider Saudi Arabia
“Saudi Arabia has demonstrated a disdain for the rule of law and international norms of due process and human rights,” creating risks for investors, he wrote.
10/25/2018
Dubai firm owner tries to swindle Dh5m from business partner
The Dh5 million in question was wired as part of a purchase deal of precious stones.
10/25/2018
Saudi Arabia will not penalize banks that boycotted conference: central bank chief
The governor also reiterated the country’s commitment to defend the Saudi riyal’s peg to the dollar
10/24/2018
2 men try to steal boxes of gold from UAE Central Bank
They had presented documents seeking five boxes of gold they claimed to have deposited.
10/24/2018
Mohammed bin Rashid Fund and RAKBANK reaffirm partnership
SMEs to get preferential rates and access to RAKBANK Business Banking products
10/23/2018
Serious Fraud Office presses for criminal charges to be reinstated against Barclays
The Serious Fraud Office is pressing to get criminal charges reinstated against Barclays related to its capital raising arrangements at the height of the financial crisis.
10/23/2018
Oman mandates banks for 7-year dollar sukuk sale
Gulf International Bank, HSBC, JPMorgan, KFH Capital and Standard Chartered Bank have been mandated as joint lead managers
10/23/2018
Dubai's Tabarak Investment Capital signs commodity trading agreement
Company to partner with Kuwaiti-owned Elite Petro & Gas
10/23/2018
Bank Muscat’s Izdihar extends GCC footprint
The acquisition marked the first purchase agreement with Dubai-based Binghatti Developers.
10/22/2018
HSBC Joins Hands with MRMWR to Restore AFLAJ Across Sultanate
The programme is part of HSBC’s US$150mn global Water Programme launched in 2012 to support areas that are vulnerable to the impacts of climate change.
10/22/2018
Japan's Biggest Bank CEO Joins Exodus From Saudi Forum
Pulls out after Saudi Arabia acknowledges dissident’s killing