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Legal, Tax, Regulation & Compliance

03/31/2023

ADIB’s Internal Shari’a Supervisory Committee issues over 30 Shari’a certificates

More than thirty certificates were issued, covering various products of Retail Banking including car financing, goods, real estate, investment funds, and investment deposits

03/30/2023

Saudi Arabia’s climate action can help defuse regional conflicts

The rising awareness of the need to combat climate change provides an opportunity to break that vicious cycle.

03/30/2023

Corporate Tax is ‘a good opportunity’ but panel of experts raise red flag on awareness

Discussion session by Corporate Group throws light on challenges in introduction of tax regime and perils for taking it lightly

03/30/2023

UAE's genome project will benefit the entire Arab world

The 10-year genome strategy in the UAE will go hand in hand with the country’s adoption of artificial intelligence and other advanced technologies

03/28/2023

St James’s Place set for UAE licence

Firm has received in-principle approval to open an office in the Dubai International Financial Centre

03/28/2023

KPMG publishes eighth edition of the GCC listed banks’ results

Out of all the GCC nations, Qatar had the lowest cost-to-income ratio

03/28/2023

Alvarez & Marsal Releases Saudi Arabia Banking Pulse For FY 2022

A&M’s KSA Banking Pulse examines data of the 10 largest listed banks in the Kingdom, comparing the FY’22 results against FY’21 results.

03/28/2023

UAE, Israel ink customs agreement to boost trade ties, activate CEPA

The UAE-Israel Comprehensive Economic Partnership Agreement was signed in May last year

03/27/2023

Environment Authority continues to monitor biodiversity of Oman

The team highlighted the tasks and specialisations of the team, and the biodiversity of rare natural animal species that live in wild environments in the Sultanate of Oman and the challenges it faces.

03/27/2023

Egypt's central bank likely to hike interest rates by 3% - HSBC

The apex bank will have to follow a 'very stringent' monetary policy, says report

03/24/2023

UAE central bank signs deal for CBDC strategy

The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.

03/23/2023

World Bank agrees $7bln, 5-year partnership with Egypt

The Country Partnership Agreement will entail $1bln per year from the International Bank for Reconstruction and Development and about $2bln over five years from the International Finance Corporation

03/22/2023

Abu Dhabi’s ADGM witnesses 56% rise in assets under management in 2022

Last year, several ADGM-based companies listed on ADX including Borouge, Burjeel Holdings, Bayanat AI and Americana Restaurants while Anghami completed its listing on NASDAQ

03/22/2023

The Central Bank of UAE Grants Direct Debit Systems License for Marketplace Operations

Merchants will also benefit from the Direct Debit System service as it offers a fixed-fee structure that is cost-effective and saves time, without it affecting their relationship with their banking services provider.

03/22/2023

Regulator FRA (Egypt) sharpens focus on sustainability with UK banking alliance

LIBF and FRA signed a MoU to promote sustainable finance

03/21/2023

Linklaters secures licence to operate in Saudi Arabia

The new office will be the firm’s third in the Middle East alongside Dubai and Abu Dhabi

03/21/2023

Saudi’s SRC, Alrajhi Bank sign landmark refinancing deal

The deal is the largest of its kind signed in the Saudi banking industry

03/21/2023

CBB Treasury bills oversubscribed

The issue date of the bills is 22nd March 2023 and the maturity date is 21st June 2023

03/20/2023

UAE affirms support for Syria’s return to Arab fold: Gargash

Diplomatic advisor to UAE President says renewal of solidarity will usher in stability

03/20/2023

NBK’s AGM approved all BOD’s recommendations

NBK held its AGM with a 71.47% quorum

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