08/24/2015
Swiss and Saudis dragged into 1MDB scandal
The Swiss are investigating alleged financial improprieties and the Saudis are ‘not amused’ by unwanted headlines.
Legal, Tax, Regulation & Compliance
08/23/2015
Arab Bank says report of $1b settlement is ‘inaccurate’
Jordan-based bank reached a deal last week to avert a damages trial
08/21/2015
Geneva prosecutor ends six-year Saad/Algosaibi probe with no further action
Court actions related to Sanea and his Saad Group and AHAB have taken place in a number of jurisdictions, including Saudi Arabia, Bahrain, Switzerland, and the Cayman Islands.
08/20/2015
FOCUS - Bahrain’s fiscal tightrope: the island state's battle to regain lost ground
The double setback of political unrest since 2011 has at times paralysed commercial activity and continues to affect investor confidence, particularly among those from outside the region.
08/20/2015
Turkish banking regulator: Turkish sector is solid
Banking sector is growing via acquisitions; foreign banks seek market entry
08/19/2015
Depositors of collapsed Dubai Bank to be paid maximum Sh100,000
The corporation, formerly the Deposit Protection Fund Board, was appointed by Central Bank of Kenya
08/18/2015
Dubai Regulator Weighs Up Crowdfunding Oversight
The Dubai Financial Services Authority has confirmed that it is formulating its policy position on crowdfunding, with the regulator identifying the need for sophisticated investors and questioning the possible impact of failures.
08/17/2015
Israeli Bank Leumi Execs Warned Over US Money Laundering – Report
The affair concerns criticism following the investigation of the US authorities of criminal events that took place in Bank Leumi’s US branch between the years 2002 and 2010 – when the three executives were serving the bank.
08/17/2015
Arab Bank Settles US Litigation on Middle East Attacks
The amount of the settlement was not immediately revealed.
08/14/2015
Clifford Chance advises Amanat Healthcare
Sukoon provides extended care and critical care medical facilities to patients and operates a 200-bed facility in Jeddah.
08/13/2015
DIFC’s new Academy of Law inks first international memorandum
Its alumni are well represented across Chinese businesses and legal institutions, particularly in Shanghai, the country’s commercial centre.
08/13/2015
Gibraltar FSC signs MOU with Israel
The MoU indicates our joint endeavours to work closely together to support our work to protect the public
08/11/2015
A new Commercial Companies Law for Qatar
The new Companies Law was published in the Official Gazette on July 7 this year and took effect on August 6.
08/11/2015
NBAD becomes the first Securities Lending & Borrowing Agent
It represents another step forward in the market's impressive development journey
08/11/2015
Greenback Advisory Partners With Salvus Advisors; to Offer Corporate Advisory Services in GCC Region
Vishnu Deuskar, ex-MD, ABN AMRO Bank Joins the Board of Greenback Advisory Services in India
08/10/2015
Property owners affected by Al Nakheel development to get AED52 million compensation
The DoFA began issuing compensation cheques to the owners.
08/06/2015
The DFSA Signs MoU with Australia's Prudential Supervisor
Mr Ian Johnston, Chief Executive of the DFSA said: "I am very pleased to sign this MoU with APRA and to meet Mr Byres again.
08/05/2015
Conyers advises Integrated Alternative Finance on its AED 700 million structured equity and mezzanine debt financing to develop the Taj Dubai
Debt financing was provided by five regional lenders, while equity funding was provided by the Taj Dubai’s owner through Downtown Investments Limited.
08/05/2015
Zu'bi & Partners rewards achievements
Bahrain's oldest established and leading law firm Zu'bi & Partners Attorneys & Legal Consultants promoted Naveen Thakur to Partner this month, as part of the firm's strategic growth programme.
08/05/2015
Kuwait's Al Ahli gets Egyptian c.bank nod to buy Piraeus Bank Egypt
It will pay $150 million cash for a 98.5 percent stake in the business, helping Kuwait's seventh-largest bank by assets expand and giving Greece's Piraeus a much-needed liquidity boost.