10/24/2016
Rasmala Investment Bank Limited Resolves Compliance Concerns with the DFSA
The DFSA acknowledges that RIBL co-operated fully with the DFSA’s inquiries, and has already carried out significant remedial work.
Legal, Tax, Regulation & Compliance
10/20/2016
Etisalat Digital and Accenture Sign MOU to Lead Digital Transformation in the Region
The scope of the agreement will see Etisalat and Accenture create new Digital Channels and new Digital Products/Services
10/20/2016
ADGM announces 160 companies registered in financial centre
Abu Dhabi Global Market, the international financial centre in Abu Dhabi, has announced that it is pleased to have registered and licenced close to 160 companies from a broad range of industries and sectors in its first year of operations.
10/19/2016
Bank Leumi to Pay $1.6 Million for Illegal US Cross-Border Business
Bank Leumi provided investment advice and securities transactions without being registered.
10/19/2016
Saudi Arabia draws $67 billion demand for first international bond
Saudi Arabia is expected to raise up to $17.5 billion through its bond offer
10/18/2016
Kuwaiti lender NBK upbeat on rising demand for credit
NBK sees higher demand for bank credit
10/18/2016
Central Bank approves expansion of financial activities of banks and financial institutions
The meeting also reviewed a report presented by the Banking Supervision Department on exchange houses operating in the UAE.
10/18/2016
Emirates NBD Asset Management Signs Agreement with UTI International for Indian Funds
The agreement aims to increase Emirates NBD Asset Management’s global fund portfolio.
10/17/2016
Exclusive: Saudi Oger seeking buyers for $1 billion Arab Bank stake - sources
A small number of potential buyers from Saudi Arabia and the wider Middle East have started negotiations
10/17/2016
Emirates Islamic announces net profit of AED 106 million for 9M 2016
Emirates Islamic announced its financial results for the period ending September 30, 2016.
10/14/2016
Hogan Lovells Strikes Alliance in Shanghai
The Shanghai Municipal Bureau of Justice approved the alliance between Hogan Lovells and Fidelity as a contractual joint operation
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.
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