05/25/2018
VG and Ward Yates act in MEA deal
Arqaam Capital acted as the lead arranger and book runner, while BNY Mellon acted as the delegate and Minhaj Advisory acted as the Shariah adviser.
Legal, Tax, Regulation & Compliance
05/25/2018
Jersey Finance Hosts an Educational Finance Event Exclusively for Women in Saudi Arabia as More Women Look to Take Control of their Financial Affairs
The event was organized in response to the increasing appetite for knowledge by the female Saudi attendees of Jersey Finance’s previous events in the country, and with the ever-growing number of female Jersey practitioners who visit and assist clien
05/25/2018
UAE foreign ownership law more limited than you think
Foreigners can fully own a company if it’s located in a free zone.
05/25/2018
KPMG said to review its audits of Middle East PE firm Abraaj
The accounting firm’s U.K. branch is looking into its examination of Abraaj and its related companies for any potential irregularities in the valuation of assets by KPMG’s Middle East division, the people said
05/25/2018
Andersen Global’s Middle East Expansion Continues with Solutions Bridge in Kuwait
The addition of a location in Kuwait demonstrates Andersen Global’s growth in the Middle East, which is a significant market for the organization.
05/24/2018
Cost of insuring Bahrain debt jumps as deficit jitters increase
Their previous peak of 405 bps was reached in February 2016, when oil prices below $35 a barrel threatened Gulf economies.
05/24/2018
UAE Central Bank publishes 2017 financial stability report
The Central Bank of the UAE have published the 2017 Financial Stability Report.
05/23/2018
Seizing the GDPR Advantage: From mandate to high-value opportunity
Look beyond the compliance side of the GDPR
05/23/2018
Liberalisation of foreign ownership rules in the UAE – opportunities for the insurance sector'
There are currently limited details available on the new investment law but based on earlier statements by the UAE Government, full foreign ownership of on-shore UAE companies will be limited to specific sectors, which are still to be approved by the UAE
05/22/2018
UAE banks get go-ahead to share Winsome information with India
Information of the movement of funds in and out of the bank accounts of Winsome Group firms, subsidiaries, and its clients in Dubai could help Central Bureau of Investigation establish the money trail.
05/21/2018
Turkey welcomes back foreign cash, no questions asked
The gloomy outlook, reflected in rating cuts by major international credit rating agencies, is underscored by a relentless increase in foreign exchange prices.
05/21/2018
Auditing firms play greater role in GCC countries amid economic reforms
They also provide economic, professional and technical consultancy to government bodies thanks to their long experience.
05/21/2018
UAE allows banks to share Winsome Group information with India
The diamond house is India’s second-largest wilful defaulter after Vijay Mallya’s Kingfisher Airlines.
05/21/2018
Crown Court dismisses Barclays Qatar charges
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014
05/21/2018
UAE plans ownership for foreigners to lure investors
Emirates to change visa, ownership laws to attract investors in bid to boost slowing national economy.
05/20/2018
Governance and culture will differentiate banks in 2018
Some of the largest banks in the UAE already have a well-defined and transparent board selection and nomination process
05/18/2018
Egypt's Banque Misr hires Citi for $500 million loan: sources
Before November 2016, when the central bank allowed the Egyptian pound to float, Egyptian banks could only access foreign liquidity through central bank auctions, rather than the interbank market.
05/17/2018
SAAB And Alawwal Bank’s Merger To Create Third-Largest Listed Bank In Saudi Arabia
The proposed merger between SABB and Alawwal Bank would create the kingdom’s third-largest listed bank in terms of assets, profits and revenues.
05/17/2018
Philippine President Rodrigo Duterte lifts ban on Filipinos working in Kuwait
Duterte’s spokesman Harry Roque told reporters the president would give the instruction to the labor secretary after discussions with his special envoy to Kuwait, Abdullah Mama-o, who recommended the action to normalize the situation.
05/17/2018
Kuwait’s investment firm seeks SBP’s approval to sell its holdings in Meezan Bank
In this regard, Noor has requested Meezan Bank to approach the SBP for the unblocking of the Sale Shares to enable it to consummate the proposed transaction.