12/17/2018
UAE’s Central Bank reshuffles board of directors
The central bank said in a statement it had been working with the bank and the government of Sharjah to develop a plan to strengthen the lender’s capital base.
Legal, Tax, Regulation & Compliance
12/17/2018
This PowerPoint presentation proves Huawei CFO Sabrina Meng Wanzhou is guilty, says US. Preposterous, says her lawyer
But the US says Skycom was actually an unofficial subsidiary, helping Huawei evade US and EU sanctions on Iran
12/17/2018
Kuwait to allow foreign ownership in bank shares without caps-KUNA
Investors would need approval from the central bank of Kuwait if ownership exceeded 5% of the bank's capital
12/17/2018
Central Bank Of Bahrain Releases Cryptocurrency Regulations Draft
In addition, the draft rules involve steps to safeguarding customers interests, cybersecurity risk management, and technology standards.
12/17/2018
Barclays expands ethical investment options for Gulf clients
Barclays said the indices’ transparent design makes them particularly attractive for structured products while offering a simple alternative to the Eurostoxx 50 benchmark.
12/17/2018
Sharjah government to take stake in struggling Invest Bank
Invest has been hit by recent high levels of bad loans
12/17/2018
UAE Central Bank to support Invest Bank with 'all available liquidity facilities'
Invest Bank's board of directors will recommend the injection of Sharjah government capital at an upcoming meeting
12/17/2018
The Story of Malaysia’s 1MDB, the Scandal That Shook the World of Finance
The figures are mind-boggling: A Malaysian parliamentary committee identified at least $4.2 billion in irregular transactions related to 1MDB.
12/16/2018
Bahrain issues draft rules to regulate cryptocurrencies
The central bank has set December 31 as the deadline for feedback on the proposed regulations
12/14/2018
QCB strives to strengthen Qatar's financial sector
The committee monitors the day-to-day work of financial institutions in the country, addressing emergency matters and removing all obstacles to the flow of work.
12/14/2018
Bahrain central bank publishes draft rules on digital assets
Bahrain has identified fintech as a way to try to revive its credentials as a regional banking and business centre and has already launched a regulatory sandbox to allow firms to test and develop their products in a virtual space.
12/14/2018
Turkish bank keeps rates unchanged on inflation fall
In previous statements it said it would maintain the tight stance “decisively”, but that word was absent this time.
12/14/2018
Invest Bank board to recommend Sharjah govt as top strategic investor
Invest Bank is based in Sharjah, one of the seven emirates forming the United Arab Emirates federation, the statement added.
12/13/2018
27 suspects charged with Dhs635m fraud
He had so planned hoping that the major transfers would go unnoticed
12/13/2018
Ooredoo, Qatar First Bank sign deal on data security
Cloud-based disaster recovery ensures that Qatar First Bank can protect critical data and applications, while also minimising downtime in case of power outages or disruptions.
12/12/2018
Qatar Overcomes Negative Consequences Of Blockade Imposed By Neighbors - Central Bank
According to Al-Thani, the real GDP growth amounts to 2.5 percent this year compared to 1.6 percent in 2017.
12/12/2018
UAE, China Central Banks Meet To Enhance Renminbi Clearing
The Central Bank of the UAE, CBUAE, today hosted a workshop with the Central Bank of China and the Agricultural Bank of China on 'Improving the Renminbi Clearing in the UAE'.
12/11/2018
New rule for UAE banks for issuing cheque books
Banks have been also encouraged to advise their customers to minimise the use of cheques.
12/11/2018
BSP, AMLC and the Kuwait-Dubai money feud
Two Kuwait government entities, the country’s port authority and pension fund, reportedly invested around $200 million in the Port Fund.
12/11/2018
Dubai Financial Market updates Sharia standards
The DFM became the world’s first Sharia-compliant exchange in 2007 and its standards, the first of their kind, thoroughly explain Islamic investment instruments such as sukuk, shares and green investment funds.