11/10/2015
Emirates NBD partners with State Bank of India for 60-second remittances
Partnership with India's leading bank will help customers to make quick and easy remittances
Legal, Tax, Regulation & Compliance
11/10/2015
Lebanon risks severe financial, banking consequences
The SIC investigates suspicious transactions, decides on the seriousness of reported suspicions, and has the exclusive right to lift banking secrecy and freeze accounts
11/09/2015
Dentons advises Majid Al Futtaim
This also includes the first issuance under the updated programme of $500 million 4.5 per cent trust certificates due 2025 which completed on 3 November 2015.
11/06/2015
Shlomo Nehama may face indictment for tax evasion
The file on former Bank Hapoalim chairman Nehama's NIS 43 million apartment sale is with the District Attorney's Office.
11/05/2015
Clifford Chance advises on US$500 million issuance by Majid Al Futtaim
This is also the first sukuk issuance this year by a privately owned MENA corporate as well as the first real estate capital markets transaction this year being the first public UAE issuance since June 2015.
11/05/2015
Deutsche Bank to pay $258m penalty for violating US sanctions
Violations in connection with transactions on behalf of countries and entities subject to U.S. sanctions, including Iran, Libya, Syria, Burma, and Sudan.
11/04/2015
DFSA fines Private Banking division for Anti-Money Laundering Deficiencies
Brought the contraventions to the DFSA 's attention after the firm received internal whistle-blower complaints concerning the operation of its Private Banking International business line in the DIFC (PBI).
11/04/2015
Qatar regulatory changes present risks and opportunities for CFOs, says ICAEW
Armstrong: Senior business managers need a good understanding of the risks and challenges facing their businesses.
11/04/2015
UAE signs agreement on exchange of information for tax purposes with Norway
The visit aimed to explore ways of developing and promoting the technical partnership as well as exchanging experience on financial and economic affairs between the two parties.
11/03/2015
Bahrain mulls bonus clamp for corporate heads
Bonuses paid to corporate board heads and members of state-owned companies in Bahrain are to be regulated, a report said.
11/03/2015
BNP Paribas ‘wet ink’ slip-up leads to US$650m suit
The French lender’s failure to follow local regulations resulted in a costly lawsuit after the bank missed out on a crucial procedure in Saudi Arabia
11/02/2015
Egypt's Banque Misr to complete $250 mln 3-yr loan in Dec -chairman
The Banque Misr loan will pay a margin of 3.2 percent
10/30/2015
Bank Sohar, Bank Dhofar appoint consultants for due diligence in merger process
Bank Sohar appoints consultants to proceed with due diligence process as merger talks with Bank Dhofar continue.
10/30/2015
Omani sovereign wealth fund calls in Freshfields to sue Bulgaria
The fund held a 30% stake in KTB
10/29/2015
GIB continues to expand its international network
The Abu Dhabi office has enjoyed continued growth since its beginnings as a GIB subsidiary in 1990, and its upgrade to a wholesale branch will launch an active franchise in the GCC.
10/29/2015
GGC financial committee to meet in Doha
The panel will draw up in their preparatory session the agenda of the upcoming meeting of the GCC Financial and Economic Committee.
10/29/2015
UAE Central Bank says lenders ‘increasingly risk averse with businesses’
This was evident in the reported tightening of credit standards pertaining to collateralisation requirements and premiums charged over riskier loans.
10/28/2015
Herbert Smith Freehills to reopen in Saudi Arabia
HSF, which entered the Gulf in 2007 with offices in Abu Dhabi and Dubai, has struggled for growth in the Middle East and wants to reposition its standing in the hope of attracting greater volumes of projects and infrastructure work.
10/26/2015
Alkhabeer Capital partners with Al-Zamil & Al-Kharashi Law Firm to develop waqf endowments
The agreement provides for synergy between Alkhabeer Capital and Al-Zamil & Al-Kharashi Law Firm in the creation and regulation of waqf solutions.
10/26/2015
600 regulators for Abu Dhabi summit
Najjar noted that compliance officers have to develop stronger working relationships with regulators