01/06/2019
Investors aghast after jailed CEO denies taking money from them
Nowhera Shaik rejects accusations she collected funds from outside India
Legal, Tax, Regulation & Compliance
01/04/2019
More changes to UAE residency laws expected, says Al Mulla
Investors will also demand further activities to be subject to foreign ownership exemptions, said the chairman of Baker McKenzie Habib Al Mulla
01/04/2019
Tough draw for Banks and Financial Institutions League
The draw was also attended by representatives of the participating teams from the banking and financial sector and a number of media outlets.
01/04/2019
Israel Approves CRS Tax Regulations, With a Caveat
Israel's parliamentary finance committee approved on Tuesday a series of statutes that will make life a lot harder for tax evaders in the country. Philanthropic Jewish orthodox community lending institutes will be exempted
01/03/2019
Dispute Over $500M Frozen In Dubai Inches Towards Resolution, As Kuwaiti Emir Watches From Sidelines
The funds were frozen in November 2017 while passing through Noor Bank in Dubai after the Kuwaiti authorities said the money was linked to a dispute involving allegations of embezzlement by senior executives at The Port Fund
01/03/2019
New 100% investment law redefines UAE's business landscape
Among a spate of path-breaking reforms aimed at fuelling economic growth.
01/02/2019
HSBC Turkey CEO being probed for 2013 Erdoğan retweet
A retweet of a portion of a movie about Hitler’s downfall may see the CEO jailed, as insulting the Turkish president is a crime
01/02/2019
UAE banks 'pumped $24bn into Saudi Arabia, Egypt'
The UAE's banking system is the largest in terms of assets in the Middle East and North Africa.
01/02/2019
UAE begins implementing 10-year visa for expats
Investors will be eligible for a five or 10-year residency visa depending on the size of their investment in the UAE.
12/31/2018
Ex Barclays boss John Varley among four of the bank's former executives facing £6bn Qatar corruption trial
It has been claimed the men conspired to illegally lend money to Qatari investors, who then used it to buy Barclays shares that propped up the bank during the financial crisis.
12/27/2018
UAE expat poll shows dissatisfaction with financial advice
The region’s expat financial advisory industry is facing a raft of government reforms to the way they work
12/27/2018
IIA takes a fresh look at risk management model
The first line of defense is management’s responsibility to effectively assess risks and to design and implement internal controls to mitigate those risks, according to Chambers.
12/26/2018
Two Saudi sovereign wealth funds among the Top 10 globally
The combined assets of all sovereign funds under study amounted to $8.11 trillion by the end of November 2018, with Saudi Arabia and UAE accounting for 10.8 and 14.5 percent of total assets, respectively. — SG
12/26/2018
No VAT on financial services, says Bahrain cbank
This exemption shall not apply in respect of specifically specified fees, commissions or commercial discounts, a statement said.
12/24/2018
12 Saudi banks to pay 17.9bn riyals to settle Zakat payments
The listed lenders said the settlement covers previous years and 2018 fiscal year
12/24/2018
Clifford Chance in key Bahrain utility project refinancing role
The new 10-year $1.31 billion refinancing contains all existing commercial lenders active in the Middle Eastern project finance market, and was required due to the original financing taking place in mid-2009, during the global financial crisis.
12/23/2018
Turkish Banks Take Over Largest Phone Operator After Default
Government’s deputy transport minister takes over as chairman
12/23/2018
ICO regulations to hit the United Arab Emirates in early 2019
A “regulatory sandbox,” as explained by The National, is a “framework that facilitates the development of the financial technology industry.”
12/21/2018
Kuwait's plan to reduce expats 'to impact economic growth'
New research says it will take a generation to replace large number of foreign workers with Kuwaiti ones
12/20/2018
Dubai resident returns to find $1m missing from bank account
He discovered that his registered SIM card number was replaced with another one.