12/20/2016
Fitch: Courts Will Be Key to Implementing New UAE Bankruptcy Law
The law is due to come into effect at the end of this month.
Legal, Tax, Regulation & Compliance
12/20/2016
Central Bank Approves Requests Of A Number Of Banks To Expand Activities And Open New Branches
The board also reviewed issues presented by the Financial Control Division, and took appropriate decisions in respect of them.
12/20/2016
Israeli diamond billionaire arrested in bribery investigation
His house arrest will last until early January, and prevents him from going near his offices.
12/19/2016
Saudi Arabia:Changes made to taxation of listed companies
The GAZT’s new approach for listed companies is similar to its approach for unlisted companies where there is a change in shareholding
12/19/2016
Ajman Bank’ signs a Joint Cooperation Agreement with ‘Takaful Emarat
The joint agreement iis a true reflection of focus and efforts to enhance the development of the banking insurance system
12/16/2016
GCC growth may tighten further while US is in rate-hike mode
Bahrain and Qatar also raised key interest rates yesterday, following the US Federal Reserve’s decision to raise short-term interest rates on Wednesday evening by 25bps to 0.75 per cent.
12/16/2016
Three Gulf central banks hike rates to avert currency pressure after Fed move
The riyal and most other Gulf Arab currencies are pegged to the U.S. dollar.
12/15/2016
Kuwait central bank raises policy rate by 25 bps
The announcement came minutes after the U.S. Federal Reserve raised interest rates by a quarter point and signalled a faster pace of increases in 2017.
12/15/2016
Saudi c.bank raises reverse repo rate 25 bps, keeps repo at 2 pct
The announcement came about half an hour after the U.S. Federal Reserve raised interest rates by a quarter percentage point and signalled a faster pace of increases in 2017.
12/15/2016
UAE Central Bank amends anti-money laundering rule
New rule strictly prohibits the opening of accounts with assumed names or numbers, among others
12/15/2016
Three Gulf c.banks hike rates to avert currency pressure after Fed move
Pressure on the currencies has eased in recent months as oil prices have begun to rebound and governments have cut spending to reduce their deficits.
12/14/2016
PTI raises questions about investments in Dubai real estate
Who is the chairman of the National Assembly Standing Committee on Industries and Production.
12/13/2016
Egyptian banking delegation visits Malaysia to learn about its experience in financing SMEs
The visit included several financial and non-financial institutions in Malaysia
12/13/2016
CBK to warn on delinquent proof-of-purchase for loans
The sources stressed that this move is based on the regulations of the banking industry to follow up the use of loans and update customers’ information.
12/12/2016
Swiss Authorities Extend Mubarak’s, Ben Ali’s Assets Freeze for Additional Year
The Freeze of the Tunisian exiled leader’s asset was renewed for three additional years to end in January 2017.
12/09/2016
Regulatory updates in Dubai's DIFC
The Intermediate SPVs will only be available to entities that already have a substantive presence in the DIFC
12/09/2016
Russia sells stake in Rosneft to Glencore, Qatari fund for $11bn
The Qatar Investment Authority is one of the biggest Glencore’s investors.
12/08/2016
Central Bank of Kuwait Governor highlights fintech, regulatory risks
Technology is supporting the outreach of formal financial services to the millions of otherwise unbanked customers
12/08/2016
Shareholders of NBAD, FGB approve merger
The merger still requires approval from international regulators and the UAE market regulator
12/07/2016
Finding the right building blocks for Middle East portfolios
Regulatory uncertainty over the registration of mutual funds