09/02/2024
UAE Federal Tax Authority issues Tax Guide for Investment Funds and Investment Managers
The IFIM Guide provides useful clarifications and examples on some of these conditions.
Legal, Tax, Regulation & Compliance
09/02/2024
Former executive sues SHUAA Capital for $6mln in ‘unpaid labour dues’
The executive was not named in the statement, but is understood to be former MD, board member and largest individual shareholder Jassim AlSeddiqi
08/30/2024
Dubai Financial Services Authority approves 61 new firms in H1
DFSA’s efforts have also bolstered the growth of the capital markets within the DIFC, which remains the world’s largest market for ESG sukuk
08/30/2024
Saudi Arabia, Poland set up business council to strengthen economic ties
This move is part of Saudi Arabia’s broader strategy to deepen economic ties with Europe
08/30/2024
Dubai Chamber of Commerce records 20.5% growth in document attestation transactions during H1 2024
11,740 documents digitally certified during first six months of 2024
08/27/2024
UAE Central Bank revokes licence of Muthoot Exchange for violating standards
The firm failed to maintain its paid up capital and equity
08/27/2024
Updated Saudi investment law to enhance foreign investor rights
The specifics of the investment law’s implementation will be clarified once the implementing rules are issued and actual practices under the new law are observed.
08/27/2024
How Qatar is establishing itself as diplomatic leader in the Middle East
Part of a larger plan of economic and social development
08/22/2024
Kuwait Finance House to sell its stake in Sharjah Islamic Bank for $351m
This move is part of KFH Group’s broader financial strategy and follows its recent financial achievements and strategic mergers.
08/21/2024
Citi inks referral agreement with Dubai's Network International
Citi has struck a referral agreement with Dubai-based Network International to offer the bank's corporate clients omnichannel payments services in the Middle East and Africa.
08/20/2024
Relm expands global presence
Relm’s Dubai-based affiliate has a licence authorised by the Dubai Financial Services Authority.
08/20/2024
Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024
The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve
08/20/2024
Egypt extends term of central bank governor for a third year
Egyptian President Abdel Fattah El-Sisi has extended the term of acting central bank governor Hasan Abdalla for a third year, the official gazette said on Monday. Abdalla, who was head of Cairo-based Arab African International Bank for 16 years, was appoi
08/20/2024
Central Bank of Oman issues treasury bills worth $70mln
The value of the allotted treasury bills amounted to OMR21 million, for a maturity period of 91 days
08/19/2024
QFC CEO recognised as a Top Business Leader by Forbes Middle East
Underscoring Al-Jaida's exceptional leadership and QFC's significant contributions to the Qatar’s business ecosystem
08/19/2024
Federal Tax Authority organises 40 events in six months to raise awareness about Corporate Tax compliance
The workshops gathered more than 8,000 participants across the UAE, with participant satisfaction growing to 97.5%
08/19/2024
Kuwait Banks freeze accounts of those with revoked nationalities
In a significant development, banks have now started freezing the accounts of individuals whose nationalities have been revoked.
08/16/2024
UAE Central Bank announces M-Bills auction on August 19
The CBUAE announces 26 Monetary Bills(M-Bills) tenders during the current year
08/16/2024
Turkish central bank expected to hold rates steady next week
All 17 respondents in a Reuters poll on Wednesday expected the bank to keep its policy rate on hold in August.
08/15/2024
Emirates Association for Franchise Development holds its inaugural meeting to discuss its new articles of association
During the meeting, FAD Board Members reviewed and discussed FAD’s updated Articles of Associations before officially approving and issuing it