01/11/2016
Al Zarooni Exchange UAE licence revoked for money laundering violations
The licence has been revoked with effect from January 10, 2016, and comes after a special examination of the firm, the Central Bank said in a statement.
Legal, Tax, Regulation & Compliance
01/10/2016
Banker calls for urgent reality check to regain top position
Bahraini banker Rashad Janahi has called for an urgent reality check.
01/10/2016
Emirates NBD hires debt collectors to chase expat defaulters in the US, UK
In response to a growing number of fleeing debtors, banks such as Emirates NBD, ADCB Abu Dhabi Commercial Bank and others have been increasing their recovery efforts by employing international debt collectors and enforcers
01/07/2016
Omani central bank announces new reserve buffers, may force capital increases
That would require Omani banks to hold a Common Equity Tier 1 ratio of 8.25 percent and a total capital adequacy ratio of 13.25 percent, up from 7.625 percent and 12.625 percent respectively.
01/07/2016
International law firm appoints managing partner of Riyadh office
He is highly respected in the market, a brilliant technician and commands a loyal client following.
01/06/2016
Turkey must harmonize laws with China-backed bank before Jan. 16
Turkey has until Jan. 16 to harmonize its domestic laws with the legal structure of the Asian Infrastructure and Investment Bank to be able to appoint a representative to the bank's board.
01/06/2016
Leading UAE law firm announces two partner appointments
"I am extremely pleased to announce the promotion ofthese four talented lawyers from within our business."
01/06/2016
UAE regulator tells banks to seek approval before disclosing dividends
Shareholders have become used to enjoying healthy dividend payouts in recent years as bank earnings surged in line with a strengthening local economy.
01/05/2016
Bahrain bans credit card surcharges
At a meeting held on 4 January, the Bahraini Minister of Industry, Commerce and Tourism, Zayed R. Alzayani met the CEOs of Bahraini banks with representatives from the Central Bank of Bahrain.
01/04/2016
DED to permit 37 more types of business activities in Dubai
New permits raises number of activities already permitted to 2,125
01/04/2016
HSBC snaps ties with Islamic Relief over 'terror' fears
Islamic Relief receives millions of pounds from the Department for International Development.
12/31/2015
Merger lifts M. Firon into Israel's big-five law firms
Epstein joins the office with 23 other lawyers, including 10 partners, specializing in several of M. Firon & Co’s core sectors, including mergers and acquisitions, antitrust, and international operations.
12/29/2015
CMA: The Capital Market Law Prohibits Violating Acts in the Stock Exchange, Refers Violators to Bureau of Investigation and Public Prosecution
The Market Conduct Regulations, issued by the Board of the CMA, has mentioned the violating and manipulative acts and its practices in the Saudi capital market.
12/29/2015
Brief overview of the changing landscape of the financial market in Israel
Remarks by Dr Nadine Baudot-Trajtenberg, Deputy Governor of the Bank of Israel, at the institutional investors conference, Eilat, 2 December 2015.
12/29/2015
Turkey’s banking watchdog vows to help Turkish companies with ties to Russia
It is not the case for these companies to not be able to pay their debts for now
12/27/2015
Two Saudi millionaires pay blood money to free Filipino
The Philippine Embassy has issued its thanks for the generous gesture.
12/24/2015
Dubai gold retailer speaks out over fraud investigation
One source claimed that just 60 of Gold AE’s estimated 2,000 clients have a total of $60 million invested in the company, and the total amount of missing funds is thought to reach $25-30 million.
12/23/2015
Turkey banking chief sees looser regulations in wake of rate hike
Market consensus had been for a hike in the headline repo rate of at least 25-50 basis points.
12/23/2015
Qatar streamlines financial rules, targets Islamic banking
The new rules come into force on 1 January 2016.
12/23/2015
CMA receives the delegation of Iranian Securities and Exchanges Commission
The meeting included presentation on the capital market and the regulatory systems