04/05/2016
Central Bank arranges to borrow KD 2 billion from local banks
This loan will be in dinars and dollars, and its value will be according to market ability and liquidity available at banks, said the sources
Legal, Tax, Regulation & Compliance
04/04/2016
ADIB releases outlook on regional and global investment climate
Abu Dhabi Islamic Bank has presented its outlook on the regional and global investment climate to its top private banking clients at a number of events in Abu Dhabi, Dubai and Al Ain, held by invitation only. Senior ADIB executives from ADIB’s Priva
04/01/2016
HSBC's Saudi Division Made $42 Million Provisions to Pay Fines
The bank declined to elaborate.
04/01/2016
Global regulators move closer to regulating fintech
The Financial Stability Board, which met in Tokyo on Thursday, has agreed on a framework for categorizing different components of fintech and assessing their potential risks.
03/31/2016
GCC has enough levers to pull to avoid crisis
The GCC’s governments have enough levers to pull to avoid an economic crisis despite the plunge in oil prices, which has resulted in lower government revenues and a strain on federal budgets.
03/31/2016
Israel passes law to cap bankers' salaries
Israel will have one of the world's toughest curbs on bankers' pay after the government unanimously passed the relevant legislation.
03/31/2016
Central bank’s divestment plan is a welcome move for Egypt
If the government indeed relinquishes control of these stakes, it would be great news, further pushing it out of an activity it had no business entering in the first place.
03/30/2016
Lebanese Nationals Largest Investors in Portugal Golden Visa Program
This reputable program offers visa-free travel to over 120 countries including the UK & Schengen.
03/30/2016
UAE banks agree 'mini insolvency law' to help SMEs
Banks have been hit by a spate of defaults, especially from traders of foodstuffs and oil
03/30/2016
New data requirements proposed for Abu Dhabi trade licences
Companies applying for trade licences in Abu Dhabi may need to provide more information under plans that are being considered.
03/29/2016
UAE banks agree "mini insolvency law" to help struggling SMEs
The initiative, which involves businesses working with lenders to restructure their loans, is intended to give breathing space to SMEs, which contribute around 60 percent of UAE's gross domestic product.
03/28/2016
$22 billion pumped to clear goods piled at ports
Governor Tarek Amer said on Saturday that devaluing the Egyptian pound had attracted foreign investment worth $500 million in treasury bills and that he had pumped $22 billion into the banking system to clear goods piled at ports.
03/28/2016
Central Bank of Oman to host workshop on Islamic finance
The workshop is organised as part of capacity building initiatives to improve the skills and the capabilities of the staff of Islamic banks and windows operating in the Sultanate and the supervisory departments of the CBO, according to a CBO release.
03/28/2016
UAE Banks Federation launches significant rescue initiative for SMEs and medium-sized corporates
The first-of-its-kind initiative in UAE comprises a new mechanism (called the "modus operandi") to sustain indebted companies which meet specific qualifying criteria.
03/27/2016
Dentons leads FIDIC discussion at The Big 5 Saudi Arabia
Adopting a localised version of the FIDIC contracts will encourage parties to review and negotiate the terms. It should provide contractors with more comfort regarding their contractual rights and their risk profile." However Jones also noted that sp
03/24/2016
Wafic Saïd sues Barclays over cutting ties
He is seeking an order under the Data Protection Act to force the bank to turn over any information it has that it relied on in its decision to sever its relationship with the 76-year-old Monaco resident and Conservative party donor.
03/24/2016
US claims it's not deterring foreign banks looking at Iran
The United States is not standing in the way of foreign banks doing business with Iran, a senior US official said yesterday, but his comments appeared unlikely to satisfy frustrated businessmen and Iranian officials.
03/23/2016
Finance House says plans for cash dividend distribution approved
The annual general meeting will be held on April 18
03/23/2016
Vinson & Elkins closes Abu Dhabi office
The firm further added, “ We consistently monitor all of the markets we serve to ensure that our practices are in alignment with client needs and the firm’s overall strategic goals.
03/23/2016
King & Spalding Advises Alinma Jeddah Economic City Real Estate Fund on US$960 Billion Shari'ah-Compliant Financing
This is one of the largest development projects in Saudi Arabia and includes the construction of the Jeddah Tower, which will be the world's tallest building at over one kilometer high.