01/14/2015
Israel’s Bank Leumi Under Investigation After $400 Million Settlement with USA
The criminal investigations conducted by the United States Department of Justice revealed that from at least 2000 until early 2011
Legal, Tax, Regulation & Compliance
01/13/2015
Dentons wins ‘Cross Border Deal of the Year’ and ‘Qatar Deal of the Year’ at Islamic Finance news Awards 2014
Dentons has won two significant awards at the IFN Deals of the Year 2014
01/12/2015
Tough choice for Bank Leumi US customers
American customers with unreported accounts will now find it costly to own up, but perhaps even more costly if they don't.
01/09/2015
PASHA Bank gains regulatory approval to buy TAIB Yatirim Bank
PASHA Bank, the Azerbaijani investment bank, has received permission from the Turkish Banking Regulation and Supervision Agency (BDDK) to acquire a controlling stake in TAIB Yatirim Bank (TAIB Bank” from Aksoy Holding
01/09/2015
UAE stocks regulator weighs stricter reporting measures
The federal stock market regulator is mulling a plan to halve the period allowed for public companies to report earnings
01/07/2015
Four banned traders named by Abu Dhabi bourse
The UAE market regulator has been clamping down
01/07/2015
FNC calls on stock market regulator to review procedures
The Federal National Council called on the stock market regulator to review financing after individual investors in the UAE lost millions of dirhams in the recent turmoil.
01/07/2015
Abu Dhabi financial centre to base rules on English common law
Decision means FZ will have a legal framework similar to the existing Dubai International Financial Centre
01/05/2015
Takaful International sets annual fees
Bahrain-based Takaful International has announced fees sanctioned by its Shari’ah Supervisory Board for the financial year 2015.
01/04/2015
Regulatory framework “easy and transparent”
It is quick to set up a base in Dubai compared to other Gulf countries as the regulations are uncomplicated, transparent and straight forward
01/04/2015
Expats in trouble for iqama errors
Expats complain that their names on iqamas which do not conform to their names in their passports are making problems during official transactions, especially in banks.
01/04/2015
Turkey's central bank hikes forex reserve requirements
Turkey's central bank raised foreign exchange reserve requirement ratios on Saturday, citing the need to support financial stability amid volatility in global markets.
12/31/2014
BB fears rise in inflation due to pay-hike
The central bank has expressed the fear that the proposed pay-hike for public servants might trigger inflationary pressure on the economy in the year 2015
12/31/2014
Alizz islamic bank opens new branch in Sohar
alizz islamic bank, Oman's full-fledged Sharia-compliant bank has opened a new branch in Sohar to reach out to more clients
12/29/2014
Israel's Bank Leumi gave the U.S. data on former customers
Leumi also agreed to pay $400 million to settle two separate investigations into whether it helped its American clients evade U.S. taxes.
12/29/2014
US Court Directs Bank Creditors To File Claims
A US court has directed the "reorganised Arcapita Bank BSC" to initiate transfer of claims by eligible holders.
12/26/2014
Turkey’s regulator puts Adabank up for auction again
Turkey’s Savings Deposit Insurance Fund will auction off Adabank on Feb. 4, 2015 after previous auctions did not yield results, as was announced in the Official Gazette Dec. 25.
12/19/2014
Al Baraka Bank complies with Basel III requirement
The three prominent Islamic banks, Islamic International Arab Bank, Al Baraka Banking Group, and Bank of Khartoum, showed that they currently have sufficient levels of capital, far beyond what is required under Basel III.
12/18/2014
VP: financial sector spurs progress
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE’s Vice President and Prime Minister and Ruler of Dubai, has emphasised that the UAE’s financial plans and monetary policies are part of an all-encompassing national economic vision that i
12/18/2014
Islamic banking in Oman likely to grow at double-digit rate
Muscat - Islamic banking in Oman is expected to grow at double-digit rates as Sharia-compliant banking products increasingly gain acceptance and the government's plans to ease restrictions come to fruition.