03/22/2017
U.K. Serious Fraud Office to Decide Soon on Barclays Qatar Charges
Long-running investigation centers on Middle Eastern investment that helped bank withstand financial crisis
Legal, Tax, Regulation & Compliance
03/21/2017
Citigroup, Abu Dhabi Fund Spar Over $9M Arbitration Costs
An International Centre for Dispute Resolution panel properly rejected the Abu Dhabi Investment Authority's bid for more than $2 billion, launched after the ADIA was unable to upend a previous arbitration, over the same.
03/21/2017
CMA signs MoU with Capital Markets Authority of Lebanon for increased cooperation
CMA will take part in the eleventh meeting of the Arab Securities Commissions Association
03/21/2017
Clifford Chance law firm advises Kuwait on the establishment of its GMTN programme and debut dual-tranche $8billion note issuance
The dual-tranche issuance thereunder follow a spate of other recent sovereign issuances in the Middle East.
03/20/2017
Real estate funds will enter Egypt through three contenders in 2017
The Housing & Development Bank is planning to join them during the next two months.
03/19/2017
Commercial Bank of Qatar considers international bond issue
A U.S. dollar-denominated bond issue is considered the most likely option, but the bank is also looking at issuing in Chinese renminbi, one of the sources said.
03/19/2017
Abu Dhabi Commercial Bank issues $230 million Formosa bond
ADCB's five-year issue, which was placed with institutional investors, was arranged by JPMorgan Chase & Co, the sources said.
03/17/2017
Emirates NBD Asset Management launches India Equity Fund with UTI International
The Fund will look to invest primarily in large and midcap stocks to generate excess returns for its clients.
03/17/2017
UAE Central Bank raises rates in line with US Federal Reserve
Higher interest rates usually make currencies stronger.
03/17/2017
Iranian Lenders Hobbled by Big Bank Qualms
The timing of the embargo coincided with the global financial crisis that eventually led to the overhaul of many of the past banking regulations.
03/17/2017
Qatar central bank raises policy rates, cuts reserve requirement
The reserve requirement cut followed complaints by commercial banks about tight liquidity in the money market.
03/16/2017
Four Gulf central banks hike rates after Fed, others may follow
But all six Gulf states have currencies that are pegged or closely linked to the U.S. dollar
03/15/2017
DFSA Hosts Annual Audit Outreach
Audit data analytic techniques can be used in audit planning and in procedures to identify and assess risk by analysing data.
03/15/2017
Barclays Qatar Targets Said to Make Last SFO Plea Before Charges
At least eight former senior officials have been treated as suspects.
03/14/2017
Bank ABC opens a branch in DIFC, Dubai
Bahrain-based Arab Banking Corporation has opened a branch in the Dubai International Financial Centre.
03/14/2017
Singapore fintech start-ups to gain access to Middle East
Both authorities will also undertake and explore joint innovation projects on the application of key technologies including digital and mobile payments, blockchain and distributed ledgers.
03/14/2017
UAE’s banks need to focus on getting the balance right: KPMG
Financial institutions face pressures on regulations, liquidity, innovation and customer confidence
03/14/2017
UAE's Emirates NBD aligns 2017 CSR objectives with Year of Giving themes
The spirit of giving is an inherent aspect of the culture of the UAE, and Emirates NBD’s efforts towards giving back to the global community have long been a testament to that spirit.
03/14/2017
As Dubai prepares to change tax laws, Indians scramble to hide undeclared wealth
For opening accounts of companies, banks in Dubai are insisting on tax ID of the home country, copies of passport, and, occasionally, the presence of Indian shareholders of these entities.
03/14/2017
Bank clerk jailed for forgery, embezzling Dh6.5m
Defendant fined Dh1m for conspiring with fugitive to change businessman’s PIN, take his millions