07/01/2015
Arab-U.S. bank relations suffer despite good governance
Some Arab banks are facing difficulties in dealing with U.S. banks despite having fulfilled all international requirements on supervision and compliance
Legal, Tax, Regulation & Compliance
06/30/2015
Dubai Land Department: No Increase in Real Estate Registration Fees
The real estate market and investors welcomed the decision for its positive effect in increasing the attractiveness of property investment in Dubai.
06/30/2015
Global law firm builds Middle East presence
The Saudi Arabian practice is home to a number of leading lawyers, including Abdulaziz Alassaf, Dr. Sultan Almasoud and Sanjarbek Abdukhalilov.
06/30/2015
Dubai’s Limitless to Pay Banks, Trade Creditors $564 Million
Dubai-based developer will pay banks and trade creditors 2.07 billion dirhams ($564 million) after it sold part of its land bank in Saudi Arabia.
06/30/2015
Shrinking Western banks prompt DIFC to shift East
A truck and taxi drive past the Dubai International Financial Centre. The centre is pivoting East as the Western banking industry grapples with rising capital requirements, regulatory scrutiny and fines and slower growth in the aftermath of the global fin
06/30/2015
Abu Dhabi Global Market Consults Open Market on its Draft Financial Services Regulations
The draft legislation is comprehensive in scope
06/29/2015
Basel III starts to dominate Top 1000 rankings
Levels of adoption are also high in Asia-Pacific and the Middle East, with roughly even rates in other emerging markets.
06/29/2015
"Best of the Best" Islamic finance law practitioner announced
The winning list includes 37 legal practitioners in 5 winning countries which are the United Kingdom, Kuwait, U.A.E., Malaysia and Hong-Kong.
06/28/2015
HSBC Bank Oman agrees to sell Pakistan business to Meezan Bank
HSBC Bank Oman has agreed to sell its banking business in Pakistan to Meezan Bank , a sharia-compliant Pakistani lender, it said on Sunday.
06/26/2015
Concerns over Abu Dhabi’s IPIC bonds, after rescue of 1MDB
The deal eases a crisis over 1MDB that had weighed on Malaysia’s currency and credit rating.
06/25/2015
Clifford Chance advises Saudi Ground Services on its IPO and listing on the Saudi Stock Exchange
The IPO was undertaken through the sale of 30 per cent of the share capital of SGS to potential investors
06/24/2015
Dubai watchdog to probe misconduct by Dutch bank employee
ABN Amro said it had suffered no losses and had notified financial supervisors in Dubai
06/23/2015
Visa-free travel for Emiratis predicted to lead to property investment boom
This means Europe now has reciprocal visa arrangements with the UAE
06/23/2015
IFSB issues exposure draft of IFSB-IAIS Joint Paper on Microtakaful
The Islamic Financial Services Board issues the Exposure Draft of its Joint Paper with the International Association of Insurance Supervisors
06/23/2015
EY makes acquisition to boost governance, risk and compliance consulting services
The acquisition, expected to complete in August will help cement EY's position as an industry leader in SAP GRC services by further enhancing its end-to-end offering -- from strategy to technology implementation.
06/22/2015
Kuwait’s Investment Dar loses appeal against lifting of legal protection
The company is seeking to agree a $2.69bn debt restructuring plan with investors
06/22/2015
UAE federal government lifts Etisalat foreign ownership restriction
The government has lifted the restriction on foreign ownership of Etisalat shares, opening up the country’s biggest publicly traded company to overseas investors for the first time.
06/21/2015
DIFC Courts inform UAE's lawyers about new Wills and Probate Registry rules
Third DIFC Courts Lecture of 2015 attended by over 100 UAE lawyers
06/21/2015
CBE governor briefs Sisi on efforts to secure hard currency, fight black market
The procedures taken by the central bank regarding the exchange rate increased dollar supply at banks
06/18/2015
Herbert Smith Freehills Latest Big Firm to Close Mideast Outpost
Herbert Smith Freehills is poised to become the latest Global 100 firm to consolidate its operations in the Middle East, announcing plans to shutter its Abu Dhabi office.