09/19/2012
The Court of Cassation overturned the appealed judgment and referred the lawsuit to the Court of Appeal which will have a new panel. The Appellee was ordered to pay court expenses and Dh1,000 attorneys’ fees.
09/18/2012
The regulator of Dubai’s international financial centre is accusing Ernst & Young and the Dubai-based investment bank Arqaam Capital of accounting irregularities and breaches of its rules in relation to the way Arqaam allegedly overstated its 20
09/18/2012
Deloitte Touche Tohmatsu today announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever.
09/16/2012
The much-awaited regulation for Islamic banks and window operations of conventional banks will be announced through a Royal Decree at any time.
09/13/2012
Arab Bank denied the claims, saying that Gill was caught in the crossfire between two military forces and that Gill had failed to show Arab Bank's liability for the shooting.
09/12/2012
Global law firm adds Dubai finance partner
She advises on a variety of structured credit and debt capital markets products, as well as bank lending, regulatory, derivatives, and Islamic finance matters.
09/12/2012
Royal Bank of Scotland and two other banks have begun legal proceedings against an investment vehicle owned by Dubai's ruler, seeking immediate repayment after abandoning talks to restructure $10 billion in debts.
09/10/2012
BLP's Dubai office became operational this month and will work closely with the Abu Dhabi office
09/10/2012
The MENA Infrastructure Fund is a $300m Dubai-based specialist asset manager established in 2007 to invest in infrastructure and energy projects in the Middle East and North Africa.
09/09/2012
Later in June 2011, a revised rule text had been issued taking into consideration the feedback on the original text.
09/06/2012
Three years later, Abu Dhabi has likely figured out that in the U.S., gangsters have guns but banksters are far more dangerous – they have ivy league educated lawyers.
09/06/2012
“I’m going to lose my apartment and AED100,000 (US$27,200),” said a British expat who renewed her contract for a property in the Fairways in June but has since been unable to contact the company.
09/05/2012
Much of that money was invested overseas in countries friendly to the regime. Countries like Britain.
09/04/2012
The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.
08/28/2012
Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.
08/28/2012
The event was organised by the Bahrain Association of Banks and accountancy practice KPMG Fakhro to update the delegates on the best approach for Bahrain.
08/28/2012
The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.
08/27/2012
The bank's Dubai branch faces charges of fraud worth $1.3 million; a BB team visits Dubai to further probe the scam
08/26/2012
The conduct of the US government and Bank HaPoalim in this case is particularly unreasonable, given that the bank in question is located in Jerusalem - Corpus Separatum by international law.
08/26/2012
Kuwaiti investment firm targets Carlyle in $25m claim
"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.