04/18/2017
Your Taxes: Why the Banks are Cranky
In March 2014, the Bank of Israel issued an instruction to Israeli banks to comply with FATCA.
Legal, Tax, Regulation & Compliance
04/17/2017
Qatar Financial Centre widens platform for investment clubs and foundations
The Qatar Financial Centre has announced the introduction of a legislation to allow Investment Clubs and Foundations to be set-up under its umbrella.
04/13/2017
Diamonds in Dubai
Money laundering is surely one of the most persistent and pervasive risks faced by banks. The practice is said to be just as common in the Middle East as anywhere else. So how do financial institutions there train their staff to deal with this threat?
04/12/2017
DFSA Censures Individual for Misleading Conduct
It is imperative that it receives information which is true, precise and complete.
04/12/2017
First Abu Dhabi Bank cuts up to 20 jobs in global markets -sources
Those who do not qualify are asked to apply for junior roles and are asked to leave if they do not make the cut, the source said.
04/11/2017
CC, Dentons, DLA and Hogan Lovells among firms up for top prize at Middle East Legal Awards
The shortlist, which is unveiled today (10 April), showcases the region’s top lawyers and legal departments.
04/10/2017
3i Infotech successfully implements Kastle ULS for Gulf Lifting and Finance Leasing Company in record time
The application supports business lines across commercial finance, consumer finance, home equity, project financing, Islamic finance and micro financing.
04/09/2017
Creditors pursue legal action against Dubai’s Pacific Controls
Several of the roughly 19 banks that have exposure to the company have now asked for court consent to seize its data centre in Dubai and other assets.
04/07/2017
Britain to extradite former head of Kuwait's social security fund- media
Al-Rajaan faced accusations including embezzlement of public funds, betrayal of public trust and money laundering related to when he was the head of Kuwait's Public Institution for Social Security.
04/07/2017
MP queries on deposits in local, foreign banks by KIA and PASS
The lawmaker has asked for a statement from the minister on the size of the funds deposited in local and foreign banks over the past five years, the interest accrued and the currency of deposits.
04/07/2017
BKIC mandatory offer for Takaful International
Bahrain Kuwait Insurance Company BSC’s acquisition of 14,220,448 of Takaful International Company resulted in a total shareholding of 63.69 per cent of the company.
04/07/2017
Oman says banks should be extra vigilant on property, personal loans
Oman finances have been hit hard by the plunge in fuel prices since 2014
04/07/2017
QIA sells stake in Santander Brasil worth $737m
Investors paid 25 reais each for the 80 million units initially offered as well as for the extra allotment of 12 million units
04/06/2017
DFSA Signs International Agreement on Audit Oversight
The MMoU aims to encourage and strengthen information sharing and co-operation to offer mutual assistance among IFIAR Members.
04/06/2017
Credit Suisse's Perfect Storm
Authorities have displayed little evidence so far in the investigation, which is potentially explosive for the bank.
04/06/2017
Turkish regulator gives new permits for PASHA Yatirim Bankasi
Pasha Bank is a leading corporate bank in Azerbaijan.
04/06/2017
Saudi Arabia picks hybrid structure for debut dollar sukuk
An amount equal to 51 percent of the bond proceeds will be used in a mudaraba agreement, a form of Islamic investment management partnership.
04/06/2017
Arab Bank Case May Show Trump’s Corporate Liability Views
The high court on Monday agreed to hear an appeal from victims and the families of victims of Palestinian attacks inside Israel seeking to overturn a Second Circuit decision that barred them from suing Arab Bank PLC for allegedly...
04/06/2017
GCC reforms safeguard banking bankers
Central banks in the GCC states have played a key role in improving the banking sector in the regional countries since breakout of the global economic crisis in 2008
04/05/2017
London Commercial Court rules on luxury Dubai development
Baker McKenzie has won a major litigation case for Dubai Islamic Bank against a company planning a luxury resort in Dubai, raising issues from the violatility of the Dubai property market to interplay with Sharia law.