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
Legal, Tax, Regulation & Compliance
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.
10/03/2018
Emirates NBD introduces Friday banking
Dubai Mall, Mall of the Emirates, and Mirdif City Centre branches open on Friday from 3 to 9pm
10/03/2018
Citigroup plans to grow offshore booking centre in UAE
More of the bank's multinational corporate clients were using the United Arab Emirates as a centre for their business in Middle East and Africa
10/03/2018
UAE a marketplace for digital transformation
he pool of ADGM's RegLab firms deploys cutting-edge solutions to re-imagine how firms trade cross-border, receive credit, and make payments
10/03/2018
GFH to buy $200m sukuk from Al Rajhi
A GFH statement yesterday said the Villamar Sukuk Company Limited Sharia-compliant sukuk certificates were issued in 2008 to finance the Villamar project in Bahrain Financial Harbour.
10/02/2018
StanChart Said to Brace for New Iran Fine of $1.5 Billion
Penalty said to be linked to previous violations, Dubai unit
10/02/2018
Saudi Arabia’s measures to fight money laundering and the financing of terrorism and proliferation
Saudi Arabia’s financial intelligence unit is not able to conduct sophisticated financial analysis, although it does provide a wide variety of information that is available to and used by competent authorities.
10/01/2018
Banque du Caire ready to go public at anytime: chairperson
In February 2018, the EGX approved the listing of shares of Banque du Caire with a capital of EGP 2.25bn distributed to 562.5m shares at a nominal value of EGP 4 per share.
10/01/2018
e-payments to be regulated by Kuwait Central Bank
Al-Hashel added that a team of experts has been assembled to look into the most cutting-edge financial services and products to help the sector grow.