12/20/2018
Asians in the dock for embezzling Dhs20m from bank
When the bank discovered the incident, they checked the employee’s work and the second suspect’s account and later forwarded them to the competent authorities and then to the court.
Legal, Tax, Regulation & Compliance
12/20/2018
Dubai regulator plans rules for fund platforms
DIFC proposes to add a different type of investment company for managing multiple funds
12/20/2018
Egypt Considers Re-Opening Door for Licensing International Banks' Branches
The source added that a number of international banks filed requests to join the Egyptian market.
12/20/2018
Don't open WhatsApp message sent by 'UAE Central Bank', residents told
The message directs receivers to a malicious website.
12/20/2018
Qatar will not introduce VAT in 2019
Qatar will not introduce VAT in 2019, the Qatar Ministry of Finance (MoF) has announced. However, it has established a tax authority which will be in charge of the implementation of all tax laws, not just VAT.
12/19/2018
MiFID II prompts Bloomberg to partner with ETF providers to launch volume feed
Increasing transparency
12/19/2018
DFSA Enhances its Funds Regime
The DIFC now has almost 70 Funds, most of which have been registered over the last two years.
12/18/2018
KPMG Bahrain managing partner Jamal Fakhro honoured by industry peers
“I am thankful to the ICAEW for this recognition."
12/18/2018
UAE Central Bank's foreign currency assets hit $94.28bn
The UAE's monetary base has also expanded 6 percent to an 11-month high
12/18/2018
China's plans to invest $20 billion in Egypt collapse
Egypt's economy is still dwindling after the 2011 uprising ushered in political and economic instability.
12/18/2018
Turkish lender, African bank sign $1B agreement
Turkish exporters to be provided $1B financing as per agreement, says Turkish lender Aktif Bank
12/18/2018
Project for digitising customer data verification to be implemented soon
The project will first be implemented in the financial industry and will later be implemented in other industries as well.
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.
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.