12/17/2015
Turkey establishes interest-free finance board
The 10th Development Plan and 64th Government's Program also focuses on progressing interest-free finance and coordination in this respect.
Legal, Tax, Regulation & Compliance
12/17/2015
Saudi businesses need to prepare for new financial reporting standards
The long-awaited revenue recognition standard (IFRS 15), which was published last year and will come into force in 2018, establishes a comprehensive framework for determining when revenue should be recognised and how it should be measured.
12/17/2015
Standard Chartered hosts its first Financial Crime Compliance Academy workshop in the Middle East
Following the successful launch of its Financial Crime Compliance Academy earlier this year, Standard Chartered hosted its first Financial Crime and Compliance workshop for its financial institutional and correspondent banking clients in the Middle East
12/15/2015
EU and Turkey launch new stage of membership talks
Foreign ministers from the 28-member bloc approve new 'chapter', focusing on economic policy, in Turkey's decade-long attempt to join EU
12/15/2015
Government to Force Israel's Banks to Sell Credit Card Businesses
Move is part of reform to break up highly-concentrated banking sector, dominated the country's three banks controlling 73 percent of credit in Israel
12/13/2015
Family Business Act presented in Dubai
The event was attended by over 200 family business principals, entrepreneurs and family office executives in the region and dealt primarily with wealth management issues across the UAE and beyond.
12/10/2015
UAE Central Bank to start Basel III implementation process
The Basel III rules, which are aimed at making the global banking system more resilient following the financial crisis
12/10/2015
Regulation hits UAE banks' dealings with US banks
Heavy regulatory burden is holding up transactions between UAE and US banks
12/10/2015
Financial position of banks' look sound: Central Bank of Oman chief
Al Zadjali pointed out that the Omani banking sector today has 16 commercial banks
12/08/2015
Turkish bank operations in Russia to be excluded from Moscow sanctions
The Turkish Banking Association has told banks that their Russian operations will not face sanctions from Moscow, citing information provided by Denizbank
12/07/2015
Arab Bank plc Financial Strength Rating affirmed by Capital Intelligence
Capital Intelligence (CI) has affirmed Arab Bank plc’s (AB) Financial Strength Rating (FSR) at ‘BBB+’. The FSR continues to be underscored by the Bank’s ample liquidity, deep customer deposit base, sound capital adequacy ratio, (CA
12/07/2015
Expats told to close bank accounts before exit
The authorities says it should be closed before their departure to ensure that no one can access their accounts for financial transfers of a suspicious nature.
12/07/2015
AAOIFI appoints members of its new technical boards after extensive selection process, from amongst 180 nominations from 37 countries
In carrying out all these activities, we will also continue to seek inputs and feedback from all out institutional members
12/02/2015
CBB go-ahead for Bank of Khartoum
Special focus will be on financial institutions local and international and corporate customers and high net worth individuals will be dealt with selectively.
12/01/2015
Israeli fintech teams up with Australia’s biggest bank
Economy Ministry’s deal with the Commonwealth Bank of Australia highlights the worldwide impact of Israeli financial technology
12/01/2015
Qatar c.bank sells fewer T-bills than planned, yield rises
Bankers in the Gulf say a reduction in fresh oil and gas revenues flowing into bank deposits has been pushing up money rates around the region.
12/01/2015
Bank of Khartoum wins nod for Bahrain branch
The Bahrain office will be will the first branch outside Sudan and the first Sudanese Bank that will be holding an Islamic wholesale banking branch license in the Kingdom.
11/30/2015
Dentons named Litigation and Dispute Resolution Team of the Year
Legal Innovators recognised at The Oath Awards
11/30/2015
Dubai International Financial Centre Launches Fully-Integrated Client Portal in Line with Dubai's 'Smart City' Initiative
Centre's upgraded Portal provides an enhanced end to end solution for companies and employee services
11/27/2015
Qatar: Board members can be sued for liability only in 3 years
These were some of the highlights at a meeting of the Ministry of Economy and Commerce with the representatives of Qatar Lawyers Association and Qatar University wherein they discussed the provisions of new commercial companies’ law.