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Legal, Tax, Regulation & Compliance

09/26/2023

Banking Transparency Under the Spotlight: Kuwait Central Bank issues guidelines

In this regard, the Central Bank of Kuwait stated that banks must fulfill due diligence requirements to verify the integrity of the funds and information available to them

09/25/2023

CBB issues the first Investment Business Category 4 license to BAGS Capital

Caters for the business models of specialist fund managers who operate, manage, and market CIUs exclusively for accredited investors

09/22/2023

Federal Tax Authority collaborates with Umm Al Quwain Chamber to promote tax culture among business sectors

The collaboration forms part of the strategic plan to raise awareness about tax legislation and highlight compliance requirements.

09/22/2023

Saudi Arabia’s climate envoy meets ministers, officials at UN General Assembly

Discussions were held on how to deal with the effects of climate change

09/20/2023

Minister of Finance meets with Governor of Swiss National Bank

During the meeting, they discussed a variety of topics essential to the shared interests of both parties

09/19/2023

Bahrain Central Bank issues new investment licenses to expand scope for family offices

Central Bank of Bahrain brings in new category for investment firms

09/19/2023

KBBO Group restructuring receives creditor and court approval

Deloitte is acting as trustee of the group and is overseeing the restructuring process.

09/18/2023

Saudi's SAMA licenses two insurance aggregation companies

With Al-Tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia

09/18/2023

Banks operating in Egypt record EGP 126.9bn of net profits in 1H 2023

The banks operating in the Egyptian market achieved a net profit of approximately EGP 126.910bn by the end of the first half of the current year (1H 2023).

09/15/2023

Alvarez & Marsal joins Middle East's tax advisory landscape

The Middle East’s tax landscape is continuing to evolve at unprecedented pace, with both the reform of existing tax regimes and introduction of new taxes.

09/14/2023

Credit card fraud costs global economy $32bn, says AMF

The increase in losses is forcing banks to leverage cutting-edge technologies to detect and analyse fraudulent transactions

09/12/2023

New Family Business Law - Bolstering Family Businesses in the UAE

The New Family Business Law is in effect now and applies in all Emirates and free zones of the UAE.

09/11/2023

Employers offered alternative end of service benefits scheme in the UAE

Employers can opt to invest and save their employees’ end of service gratuities through these funds on their behalf, according to various investment options.

09/11/2023

Oman Arab Bank and Omran Group announce strategic partnership

For sole financing of Nikki Beach Resort & Spa Muscat

09/11/2023

Qatar and Malaysia forge partnership to strengthen financial markets

The agreement seeks to develop the financial market’s infrastructure, enhance standards in sustainability, and foster best practices in capital markets.

09/07/2023

UAE employers must take proactive approach to ‘Emiratisation’ expansion

By encouraging businesses to hire and train local talent, the UAE aims to reduce reliance on foreign workers and bolster its economic development.

09/06/2023

Bank of Sharjah acts as mandated lead arranger in a $500mln financing for the Govt. of Sharjah

This six-year dual-tranche (conventional & Islamic) facility will be used for general corporate purposes.

09/06/2023

Saudi banks see marginal profitability gains amidst slight decline in net profit: Alvarez & Marsal

Growth in net profit at the top 10 banks slowed to 0.3 percent quarter-on-quarter (QoQ) in Q2’23 despite a significant drop in impairment charges

09/05/2023

Saudi Arabia and Italy to sign 18 cooperation agreements across various sectors

During the speech, Al-Falih invited Italian firms to come and operate in the Kingdom, noting that 150 licensed companies from the European nation are already functioning in Saudi Arabia.

09/04/2023

Top 6 Countries With Zero Sales Tax

A few experts told GOBankingRates their thoughts and opinions on the top six countries with zero sales tax.

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