05/30/2017
UAE forms fatwa council to advocate moderate Islam
The Cabinet approved during it sessions the formation of the UAE Council for Fatwa to be the sole reference for fatwa across the UAE and to ensure the alignment of all issued fatwa.
Legal, Tax, Regulation & Compliance
05/29/2017
Qatar and UK continue to count the cost of Barclays bailout
All were deemed to be vulnerable to the dramatic falls in asset values prompted by the collapse of US sub-prime real estate.
05/28/2017
Saudi foreign assets keep falling in April amid heavy overseas borrowing
The government has been drawing down the assets, which hit a record high of $737 billion in August 2014
05/27/2017
Lebanon seeks a secure financial sector
Central Bank Governor Riad Salame wins a fifth six-year term in a move widely praised
05/24/2017
DFSA launches Innovation Testing Licence for FinTech Firms
This initiative signals the next phase of the DFSA’s regulatory roadmap to foster innovation in Dubai.
05/23/2017
Tehran, Muscat after stronger banking ties
Leading a high-ranking banking delegation to Muscat, Valiollah Seif made the visit in order to follow up earlier agreements reached during earlier visit of President Rouhani to the Persian Gulf littoral state.
05/22/2017
UAE Central Bank signs MoU with Abu Dhabi Judicial Department
Commenting on the signing, Muhammad Al Falasi, said, "Signing this MOU reinforces the continuous efforts exerted by Central Bank to support electronic transformation of services provided by federal and local entities and authorities, in line with the
05/21/2017
Now, pay Dubai RTA fines in instalments
The move is a further step towards cementing the strategic partnership between ADCB and RTA.
05/19/2017
Chipping away at the personal debt problem
He is now being treated in a Dubai hospital because of a mental illness and cannot return home because of his outstanding debt of Dh335,000.
05/18/2017
UAE unveils crackdown on banks selling insurance policies
The Central Bank will also fine banks that violate the new framework.
05/18/2017
UAE Central Bank stops sale of savings/investment and Takaful/Insurance products
The UAE central Bank will deny requests from banks and financial institutions to market or sell “savings and Investment and non-capital guaranteed/protected Takaful/Insurance products”, according to a Central Bank
05/17/2017
Hamdan approves the organisational structure of Dubai Department of Finance
Resolution on structure annuls prior legislation, and becomes effective immediately
05/17/2017
Kuwait Vision 2035 includes effective management, ratings in int'l indications
The implementation of the cornerstone contributes to improving rankings of Kuwait in indications of the World Bank and other international institutions, including indicators of business, national efficiency and productivity, governance, corruption and e&a
05/17/2017
Bank manager, official accused of siphoning off client’s Dh26 million in Dubai
Prosecutors accused the two suspects of forging different bank papers and embezzling the businessman’s Dh26 million.
05/16/2017
King & Wood Mallesons partner leaves to launch Dubai base for Charles Russell Speechlys
KWM with three partners in the Middle East following its Riyadh closure last month
05/15/2017
DFSA Takes Action against Senior Executive Officer
He has agreed to appoint another Licensed Director to RSL’s Board of Directors.
05/15/2017
Charles Russell Speechlys highly commended at the Middle East Legal Awards 2017
We are delighted to be ranked by Legal Week for this prestigious accolade which is new to The Middle East Legal Awards this year.
05/14/2017
Dubai International Financial Centre hosts ‘Lebanese Banks Day’ with Banque Du Liban
It was emphasised that closer collaboration will help develop the industry further in the region and further afield.
05/11/2017
FBME Bank's Tanzania License Terminated After Money Laundering Investigation
Legal Floris LLC represents clients affected by FBME Bank problems; FBME Bank was barred from U.S. financial system in April 2017, paving the way for business license revocation
05/10/2017
New Deloitte report on banking regulations in UAE
The findings of the Deloitte Regulatory Barometer report reveal the need for regulators to play their role, by ensuring clear regulations and striking a balance between market safety, while also enabling businesses to perform and grow.