10/12/2018
Crowe Oman Opens New Office
He said, “Artificial Intelligence, blockchain, machine learning and cryptocurrencies are no longer fancy terminologies but the future of business.
Legal, Tax, Regulation & Compliance
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/12/2018
Tax, Fiduciary and Philanthropic Requirements in 60 Countries - RESEARCH
A similar report was first produced by the two organizations in 2015.
10/11/2018
NY fines UAE's largest bank over lax money-laundering safeguards
DFS Examinations Found Multiple Deficiencies in the Bank’s Compliance with Anti-Money Laundering Laws and Office of Foreign Asset Controls Regulations
10/11/2018
Masdar Signs Region's First Green Revolving Credit Facility to Drive Sustainability Goals
The three-year facility includes a number of 'green features' which are consistent with the Loan Market Association's Green Loan Principles (GLP), a set of guidelines designed to support environmentally sustainable economic activity.
10/11/2018
Sovereign funds hiring their own rainmakers
Funds such as Saudi Arabia's PIF are asserting themselves as direct investors, sidestepping established managers
10/10/2018
Influx of Chinese banks good for Gulf region: Dubai-based bankers
They invest, partner up with government-related entities and this helps the whole banking market in the region
10/10/2018
Bahrain to benefit from GCC inclusion in JP Morgan index
Starting January 31, 2019, sovereign bonds and sukuk from Saudi Arabia, the UAE, Bahrain, Kuwait and Qatar will gradually gain inclusion on the JP Morgan EMBI Index, which already includes Oman.
10/09/2018
Standard Chartered said to prepare for $1.5bn fine over Iran
Allegations of allowing customers to violate Iran sanctions said to date from at least five years ago
10/08/2018
Bahrain central bank nods to GFH property portfolio sale
Bahrain-based financial group confirmed that the offer it had received amounts to around $1bln
10/08/2018
Omani banks ink agreement for planned merger talks
The chairman added "this is with the objective of bringing together the best talents from OAB and Alizz Islamic Bank to create a market-leading Islamic bank that will continue its operations as an independent Islamic banking institution.
10/08/2018
First firm to soon graduate from Kingdom’s regulatory sandbox
The sandbox was announced in June 2017 to support the growth of Bahrain’s fast-growing FinTech sector.
10/05/2018
Sabb and Alawwal approve merger to create third-largest Saudi bank
Merger is still subject to shareholders and regulatory approvals
10/05/2018
Saudi Arabia, Kuwait, UAE deposit over $1 bln in Jordan Central Bank
Saudi Arabia, Kuwait, and UAE deposited money to shore up the kingdom's struggling economy.
10/04/2018
Trade Bank of Iraq signs $115mln loan agreement with Commerzbank
The focus of the financing partnership will be on export contracts awarded to clients of Commerzbank in Germany
10/04/2018
UAE's new visa system: All you need to know
The decision was announced by Sheikh Mohammed in June this year.
10/04/2018
Dubai enacts changes to anti-money laundering rules following review
Amendments to DIFC law aimed at better combatting financial crime
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/04/2018
Turkey Arrests hundreds of Suspects in Money-Laundering Probe
The probe was aimed at those who "targeted the economic and financial security of the Turkish Republic.
10/03/2018
CBK issues KD 150m bonds, tawarruq
The CBK, on September 24, issued bonds worth 200 million dinars (about USD 600 million) with a rate of return at 2.5 percent for a period of three months.