10/14/2016
Lawmakers file to grill Finance Minister – Political crisis brews
A number of lawmakers anticipated that the Assembly will likely be dissolved even before its starts the new term next Tuesday.
Legal, Tax, Regulation & Compliance
10/13/2016
Moody's assigns provisional A1 rating to Saudi Arabia's proposed medium-term note program
Saudi Arabia exhibits somewhat greater limitations of fiscal policy
10/13/2016
BIBF explains benefits of Chartered Financial Analyst qualification
The event was held Sept. 28 at BIBF’s property in Juffair.
10/13/2016
Saudi Arabia Said to Weigh Easing Restrictions on Foreign Banks
The Boston Consulting Group has prepared a report for SAMA on the proposed changes and their potential impact, according to the people.
10/11/2016
Falcon Bank says will focus elsewhere after losing Singapore licence
Falcon Bank will focus on growing their businesses in the core locations Switzerland, Middle East and London
10/11/2016
GCC growth & sustainability depends on fiscal, monetary policy alignment & action
The downward revision to US growth mostly reflected weaker-than-expected growth in the second quarter of 2016.
10/11/2016
Qatar launches campaign to educate laborers on new laws
Human rights organizations already have alleged some migrant workers face cases amounting to forced labor.
10/11/2016
deVere Mortgages partners with Al Rayan Bank to offer Sharia compliant home finance
Al Rayan Bank is founded on faith-based, ethical principles that derive from trade, entrepreneurship and risk-sharing
10/10/2016
Impact of IFRS 9 implementation likely to be minimal on GCC banks
New standards could free up reserves in many cases
10/10/2016
Dubai FDI updates UK businesses and investors on Dubai’s innovation-driven strategies
Dubai Investment Development Agency, an agency of the Department of Economic Development in Dubai, recently went on a mission to London, connecting with select investor groups, law firms and consultants, and updating them on the new opportunities and chan
10/10/2016
Bahrain to build 5,000 homes through housing bank
The project is due to meet the goals set out in the Government Action Plan.
10/07/2016
Egypt is experimenting with the IMF’s ideal reforms
The new government policies should include currency depreciation, a cut in fuel subsidies and the introduction of the Value-Added-Tax bill.
10/06/2016
Burgan Bank announces procedure for protection of bank’s clients
The client ends over the complaint, the bank representatives are to study the complaint per the approved work mechanism for handling client complaints.
10/05/2016
Credit Suisse in Talks for Full Saudi Arabia Banking License
Swiss bank in talks with SAMA to secure key banking license
10/05/2016
HSBC rules out rumors about exiting the Turkish market
He also said Turkey’s banking sector remained solid, especially with regards to its human capital, while also offering products, fundamentals and capital adequacy.
10/04/2016
Al Tayer to hold meetings with IMF, WB
The meetings are part of a visit by a UAE delegation, headed by Al Tayer, to Washington DC to attend the annual meeting of the WB and IMF
10/04/2016
Saudi banks told to reschedule loans of clients hit by cuts
The step was part of efforts to reduce pressure on borrowers whose income was cut by government’s measures
10/03/2016
Turkish Consumer Loan and Credit Card Use Restrictions Relaxed
The consumer loan maturity limit applicable to banks and other financial institutions is now 48 months, up from a 36-month limit.
10/03/2016
Qatari funds nurse €1bn loss on Deutsche Bank stake
The Qataris were among a group of investors that Deutsche tapped for €8.5bn to bolster its balance sheet
10/03/2016
Saudi c.bank orders rescheduling of consumer loans hit by austerity
About two thirds of working Saudis are in the public sector and many obtain as much as 30 percent of their income from such allowances.