08/28/2018
Egypt to borrow $750m from international banks
In June 2017, Banque Misr signed a three-year $200 million loan agreement with the African Export-Import Bank (Afreximbank) to fund small and medium-sized enterprises.
Legal, Tax, Regulation & Compliance
08/24/2018
Senior banker to file complaint over social media allegations
It comes as a government investigation was ordered on Sunday into allegations that a large number of private and public sector employees hold fake degrees from fictitious universities.
08/24/2018
‘Wilful defaulter’ Winsome Diamonds diverted $750 million to dummy companies, says probe
The dummy companies then routed these funds to an entity called Docklands Investment Ltd.
08/23/2018
Abu Dhabi boosts Al Hilal Bank's capital by Dh400m, CEO says
Rise in capital will further strengthen the Sharia-compliant lender's balance sheet
08/23/2018
Banks have ‘sufficient cushion’ for further realty credit: QCB
In order to assess the credit risk from mortgage loan in Qatar, the QCB had conducted stress test by assuming stressed scenarios
08/22/2018
Dawood Ibrahim's finance manager Jabir Moti nabbed in London
He was arrested by the officials of the Charring Cross Police Station in London.
08/22/2018
Alleged head of BitConnect cryptocurrency scam arrested in Dubai
BitConnect has been accused of operating an exit scam after duping investors out of millions of rupees.
08/20/2018
UAE companies' debt set to spike with new IFRS accounting rules
Hassan said much more liabilities will be recognised on the balance sheet with the new standards.
08/20/2018
Qatar and Turkey Central Banks Sign Swap Agreement: Qatar Central Bank
The agreement, which was signed by the heads of the two central banks on Friday, will establish a two-way currency exchange line, the Qatar Central Bank said in a statement posted on its website.
08/20/2018
AlixPartners to oversee AGHF's separation from Abraaj Group
Gobal consulting firm AlixPartners said it has been appointed by investors of the Abraaj Growth Markets Health Fund (AGHF) to oversee the fund's separation from the UAE-based Abraaj Group
08/19/2018
Islami Bank plans to open representative office in Dubai
Islami Bank also does not have any exchange house or branch in the gulf countries.
08/19/2018
Push to set up banking arbitration
The meeting also discussed collaboration between BAB, the Justice, Islamic Affairs and Endowments Ministry, and the Industry and Commerce and Tourism Ministry to implement “Bankruptcy Laws Awareness Campaign”
08/19/2018
Shuaa Capital seeks licence to manage IPOs
Firm has called a shareholders' meeting to seek approval for share buyback
08/17/2018
Kuwait’s Warba Bank receives licence to conduct securities activities
The renewable licence is valid until 13 February 2019.
08/17/2018
These UAE private sector workers will get a six-day holiday
Few companies have announced Thursday as a holiday.
08/17/2018
DFSA applies limits on Abraaj Capital’s activities in DIFC
Regulator to monitor the company closely as it seeks liquidation
08/16/2018
Abu Dhabi's Mubadala sells 3% stake in RHB Bank
Sources said Mubadala offered 120.3 million shares or 3% of RHB Bank’s enlarged share capital to be sold through a book-building exercise at a range of RM5.07 to RM5.18 per share.
08/16/2018
Trade Bank of Iraq puts Turkey bank acquisition plans on hold
"The Turkish lira is not stable and we are watching to see if it stabilises before entering."
08/15/2018
European banks’ exposure to Turkey
Spanish, Italian, French and UK banks are most exposed to Turkey’s free-falling currency
08/15/2018
Court reserves judgement in Abraaj bounced cheque case
Jail term for Naqvi could delay asset sales and loan recoveries