11/06/2018
Ripple’s Dubai Office to be Ready Before 2018 Ends: Confirms Almost 200 Partners
Rao pointed out that Ripple has partnered with various financial institutions in the region.
Legal, Tax, Regulation & Compliance
11/06/2018
Dubai's biggest bank warns over phishing email scam
Emirates NBD says email with the subject line VAT Refund Notification, claiming to be from the bank, should not be opened
11/06/2018
These UAE sectors will not get 100% foreign ownership under new law
Activities on the "negative list" will not be allowed 100 per cent foreign ownership.
11/06/2018
Deutsche Bank’s DWS Group Takes Stake In Dubai Fintech Firm Neo Technologies
As part of the agreement, DWS and Neo Technologies are forming a strategic partnership to collaborate on the development and expansion of digital asset management services throughout the region.
11/06/2018
Rogue financial adviser liable for client’s losses in Dubai
If the judge agrees to the findings by financial expert Reem Al Nuaimi, other clients of Grant’s who lost money could mount similar actions.
11/05/2018
Kuwait’s Central Bank calls for updating macroeconomic models at GCC level
CBK hosts workshop to swap expertise in economic models
11/05/2018
New law enhances discretionary powers of UAE Central Bank
Licencing and regulation of institutions and financial services of all kinds enabled
11/05/2018
Deutsche's DWS to buy stake in Dubai-based digital investment firm
Under the agreement, DWS Group - which as of the end of September had 692 billion euros worth of assets under management
11/05/2018
Dubai International Financial Centre signs agreement with China Banking Association
Over 2,000 financial firms in the Centre and 695 member units of the Association to benefit from the partnership
11/05/2018
Robo Advisory Firm-Sarwa, First to Graduate from DFSA's Regulatory Sandbox
This included continuous monitoring, ongoing engagement and frequent feedback.
11/02/2018
Islamic financial sector gets supervisory framework
The new law provides for setting up of independent Internal Sharia Supervision Committees
10/31/2018
Citigroup receives Abu Dhabi Global Market branch licence
The branch will provide liquidity management solutions to Citi’s clients looking to establish regional treasury centres in the UAE
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
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