10/16/2014
Dubai International Financial Centre Introduces New Qualified Investor Funds Regime
In order to qualify as a QIF, a Domestic Fund must satisfy the following conditions at its inception and on an on-going basis.
Legal, Tax, Regulation & Compliance
10/15/2014
Expatriates In Oman Remitted $9.1BN Last Year: World Bank
Expatriates in Oman sent home US$9.1bn while the country received US$39mn as remittance last year
10/15/2014
Banking sector and fiscal policy
The growth of bank deposits also remained healthy as time and saving deposits continued to benefit from the prospect of higher interest rate while heightened activity in the stock market exerted little impact on demand deposits.
10/15/2014
Banks need to boost vigil against financial crimes: Seetharaman
Seetharaman addressing the session on “Customer Risk Ratings and Evolving Nature of Financial Crime” at BNY Mellon, New York yesterday.
10/14/2014
Dentons advises National Bank of Oman on the establishment of US$600 million EMTN programme and debut issue
The Programme was arranged by HSBC, National Bank of Abu Dhabi, Credit Agricole Corporate Investment Bank and Standard Chartered Bank.
10/10/2014
GFH to appeal against Kuwait bourse order
Gulf Finance House (GFH), Bahrain-based Islamic investment bank, yesterday said it will file an appeal against the suspension of trading in its shares at the Kuwait Stock Exchange.
10/07/2014
Global law firm ups its bet on Saudi Arabia with second office
The pair have been tasked with boosting the amount of work secured from Jeddah-based banking clients
10/07/2014
Libyan fund sues Goldman Sachs for $1 bln
The Wall Street bank allegedly made $350 million in up-front profits from the trades.
10/07/2014
Clifford Chance advising NBK on proposed sale of its 30 per cent stake in IBQ to Qatari investors
Clifford Chance announced today that it is advising the National Bank of Kuwait (NBK) on the proposed sale of its 30 per cent stake in the International Bank of Qatar (IBQ) for $538 million to Qatari investors.
10/06/2014
Goldman Sachs 'charmed Gadaffi-era sovereign wealth fund employees with girls and alcohol' in trip to Morocco
Goldman Sachs counters that the LIA had very experienced bankers on their team and that its complaints now were merely hindsight
10/03/2014
Dubai Financial Regulator Seeks To Wind-Up Local Arm Of Espirito Santo
Dubai’s financial regulator is seeking court approval to wind up the local arm of Portuguese financial group Espirito Santo, the latest in a series of international regulatory actions taken against the family’s collapsed business empire.
10/02/2014
Dentons advises Burgan Bank on $500 million issuance
Dentons has advised Burgan Bank on the issuance of $500 million Perpetual Tier 1 Capital Securities, which completed on 30 September 2014.
10/02/2014
Norton Rose Fulbright advises the IDB on $1.5 billion drawdown under its $10 billion Sukuk programme
Norton Rose Fulbright has again advised the Islamic Development Bank on its $1.5 billion 2.111 per cent Trust Certificates due 2019 issued under its $10 billion Trust Certificate Issuance Programme
10/02/2014
Bank statements confirm fake invoices money was paid to David Haigh, GFH Capital says
GFH Capital, a subsidiary of Bahrain-based Gulf Finance House, launched legal action against Haigh
10/02/2014
Allen & Overy advises on groundbreaking UAE IPO
Allen & Overy has advised the syndicate of underwriters (J.P Morgan, Bank of America Merrill Lynch, Morgan Stanley, HSBC Bank Middle East, EFG Hermes, Emirates NBD and the National Bank of Abu Dhabi) on the initial public offering of Emaar Malls Group
09/30/2014
Dubai flexes legal muscles as financial court system grows
The case is an example of how the DIFC is emerging as a major legal jurisdiction for business in the region
09/30/2014
Linklaters advises on one of the largest IPOs in UAE
Linklaters has advised Emaar Malls Group, the leading owner and operator of shopping malls in Dubai, and its parent company, Emaar Properties, on EMG’s IPO, the second largest ever in the United Arab Emirates.
09/30/2014
Central Bank of Oman selects five members to national Sharia board
The formation of a national Sharia board is aimed at regulating Islamic banks and window operations of conventional banks
09/29/2014
Ogier Fiduciary Services Re-brands as Elian Following MBO
Ogier Fiduciary Services launched its new brand and identity today, following the management buyout (MBO) from the Ogier Group in June.
09/28/2014
Riyad Bank, IFC renew Saudi SME partnership
Riyad Bank has renewed its current agreement with the International Finance Corporation, a member of the World Bank Group, as part of the bank's strategy to support the Kingdom's small and medium enterprises.