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Legal, Tax, Regulation & Compliance

01/04/2018

UAE financial services community targeted by fake DFSA scam

The bottom of the fake application form says that it has been issued by “DFSA LLC.”

01/04/2018

Cabinet ratifies eight agreements and MoUs

The first was approving a draft law that regulates non-Qatari investments in the economy and agreed to refer it to the Advisory Council.

01/03/2018

Turkey: The Data Protection Authority Publishes the Regulation on Data Controllers Registry

The Authority may introduce exemptions to the registration obligation, taking into account the exemption criteria provided in Article 16 of the Regulation.

01/03/2018

New draft law on foreign investment to boost economy

The draft law was prepared by the Ministry of Economy and Commerce after examining the best international and regional practices in this regard.

01/03/2018

Banker From Turkey Is Convicted in U.S. Over Plot to Evade Iran Sanctions

The case was followed closely in Turkey, where the government was already angry at the United States for giving shelter to a cleric Mr. Erdogan says was behind a coup attempt in 2016.

01/02/2018

No VAT on ATM withdrawals in Saudi Arabia

There will not be any VAT on withdrawals from ATMs of customer’s bank or any other bank: official

01/02/2018

Qatar plans central Shariah committee for Islamic banks

A recent report by the World Bank and the Bahrain-based General Council for Islamic Banks and Financial Institutions suggested further action by regulators to strengthen the sector’s governance

01/02/2018

S. Arabia, UAE levy VAT in first for Gulf

They are the latest in a series of measures introduced by Gulf oil producers over the past two years to boost revenues

01/01/2018

Financial Conduct Authority delays rule change for Saudi Aramco’s $2 trillion listing

This would enable Saudi Arabia to choose London as the main international venue for its initial public offering of Aramco, its state oil giant.

01/01/2018

Federal Financial System becomes VAT compliant

Ministry of Finance ready to manage all financial transactions related to value-added tax

12/31/2017

Qatar central bank’s international reserves, liquidity rise in November

The reserves and liquidity, a measure of the central bank’s ability to support the riyal currency

12/28/2017

Saudi businessman in debt dispute reportedly released from detention

Al-Sanea had been detained in the Eastern Province since October for unpaid debts reaching into the billions

12/28/2017

Money laundering: AB Bank ex-chairman M Wahidul Haque at ACC

The Anti-Corruption Commission started interrogating former chairman of AB Bank M Wahidul Haque this morning over “laundering Tk 165 crore” to UAE

12/28/2017

Footballers ‘prefer’ Turkey due to low income tax rate

Income tax rate for athletes participating in Turkish Super Lig is 15 percent

12/28/2017

ACC summons ex-chair, MD of AB Bank

Former managing director M Fazlur Rahman has been given schedule at 9:10am, he added.

12/28/2017

Saudi foreign reserves rise in November for second straight month

It was the first time since mid-2014 that the reserves rose for two consecutive months.

12/28/2017

Egypt's central bank keeps interest rates unchanged

The overnight deposit rate remained 18.75% and the overnight lending rate at 19.75%

12/27/2017

Qatar banks to prepare for Basel IV requirements

This is significant and relevant in countries like Qatar, where the QCB requires them to calculate regulatory capital using the Basel standardised approaches.”

12/27/2017

Many wealthy women seek legal loopholes to disinherit husbands

An informed source told Al-Watan that he was aware of several women with assets worth millions of riyals had approached law offices seeking legal counsel on ways to deny inheritance to their husbands in the event of their death

12/27/2017

Footballers ‘prefer’ Turkey due to low income tax rate

Income tax rate for athletes participating in Turkish Super Lig is 15 percent

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