07/13/2018
Shuaa Capital, Ajman Bank reveal exposure to Abraaj
A growing number of companies have declared that they have direct or indirect exposure to the troubled private equity firm.
Legal, Tax, Regulation & Compliance
07/13/2018
Dubai lenders Mashreq, CBD join FAB in declaring Abraaj exposure
Mashreq Bank owns shares in the buyout firm and its subsidiary, while CBD is exposed through secured credit facilities
07/12/2018
Changes to the taxation of UK property for Middle Eastern investors
Capital gains tax will be extended to cover disposals of commercial real estate and to indirect disposals
07/11/2018
Saudi, UAE executives face probe over Malaysia's 1MDB scandal
Swiss Attorney General Michael Lauber says up to $7bn in funds flowed through 1MDB state-own fund in Malaysia.
07/11/2018
Erdogan Expands Clout Over Central Bank, as He Promised
Move deepens president’s role in naming central bank officials
07/10/2018
Abraaj founder reaches ‘out-of-court settlement’
Al Mulla defended his client Naqvi, telling the UAE daily that “there was a loan given by the Jafars to Abraaj Group and to Arif – $200m to Abraaj and $100m to Arif – against which they took cheques as security.”
07/09/2018
Will Lebanon legalize marijuana? Minister says it could be a $1 billion industry
"The quality we have is one of the best in the world," caretaker Economy and Trade Minister Raed Khoury.
07/09/2018
Fighting financial crime is costly but worth every penny
HSBC spends a fortune in new technologies that will help thwart fraud and scams as it bids to become an industry leader in risk management
07/09/2018
GFH to pursue David Haigh's Dubai and London assets in damages enforcement
Collection of damages awarded to GFH will impact company's 2018-19 results
07/08/2018
UBF to develop banking experts' profession
The initiative comes in line with UBF objective of keeping up with the latest global developments to promote digital transformation
07/06/2018
EU lawmakers back plan for European Investment Bank work in Iran
The European Parliament overwhelmingly blocked a motion by far-right lawmakers seeking to prevent the European Commission from lifting restrictions on the EIB in Iran
07/06/2018
Four Big Banking Issues Affecting UAE Company Formation
This is a challenge for entrepreneurs in the UAE and worldwide.
07/06/2018
Lawyer: Dubai’s troubled Abraaj nears out-of-court settlement
The Cayman Islands court appointed liquidators to oversee an “orderly restructuring” of the group.
07/05/2018
Dubai courts uphold claims against ex-Leeds owner Haigh
Former deputy chief executive of GFH Capital ordered to pay $6m to company's Bahraini owners
07/05/2018
King ratifies Bahrain-Egypt tax accord
The King also ratified and issued an amended law on co-operative societies.
07/04/2018
KPMG was a key witness as investment firm Abraaj unraveled
Investors have accused the Dubai-based private equity firm of using money from its funds for purposes that were not sanctioned
07/04/2018
Bank Nizwa unveils reduced property financing rate
Bank Nizwa’s property finance solutions offer customers a choice between the Ijara/Forward Ijara scheme
07/04/2018
Dubai investigates Abraaj over alleged mismanagement: sources
The DFSA declined to comment. Abraaj said in a statement discussions between it and the regulator were “ongoing.”
07/02/2018
Qatar’s foreign investment law could be a ‘game changer’
Before finalising their investment decisions they are keen to understand the exact details of the draft-law after its final nod.
07/02/2018
David Haigh trial opens in Dubai in dispute with Bahrain’s GFH Capital
Subsidiary of Gulf Finance House claiming $5m from its British former deputy chief executive