08/30/2022
Arab countries’ deposits at Central Bank of Egypt hit $13bln end-March
UAE and Saudi Arabia deposited $5bln each, while Qatar placed $3bln
Legal, Tax, Regulation & Compliance
08/26/2022
Egypt Central Bank increases cash withdrawal limits
the limits were imposed as part of a plan to mitigate the coronavirus pandemic. But bankers say the limits helped tamp down the black market in foreign currency by reducing the amount of available cash.
08/25/2022
UAE central bank urges Islamic Financial Institutions to appoint Emiratis as trainees
The Resolution includes guidance for IFIs on the membership of the trainees
08/24/2022
UAE Data Protection Law: The requirements and ensuring compliance
The UAE cabinet has established the UAE Data office as Competent Supervisory Authority to ensure federal law enforcement.
08/24/2022
Saudi Central Bank approves two new Fintech companies
SAMA is currently working on developing and implementing an integrated high-standard network to carry on Open Banking Solutions in the Kingdom
08/23/2022
UAE: Over 70 nationalities can get visa on arrival for up to 180 days
30-day, 60-day and 90-day visa eligibility, application process explained
08/22/2022
Egypt’s new Central Bank Governor has 3 important issues to address
Abdalla will deal with a lot of other urgent files, on top of which are the coordination between the fiscal and monetary policies
08/19/2022
Dubai’s largest bank raises wages due to inflation
Emirates NBD, which is majority-owned by the Dubai government, said it did not comment on staff-related issues.
08/19/2022
Al Ahli Bank of Kuwait K S C P : and Gulf Bank Sign Memorandum of Understanding to Outline Proposed Acquisition
Mr. Boodai stressed the keenness of Gulf Bank's board of directors to study all available opportunities in pursuit of all shareholders' interest, and to ensure transparency throughout every step of the process.
08/18/2022
IMF sees Saudi inflation contained at 2.8% as GDP growth hits decade-high
The IMF report added that the increase in interest rates is expected to have only a limited impact on the Saudi economy.
08/18/2022
Capital Bank of Jordan signs USD 115mln 1-year debut senior unsecured syndicated term loan facility
Mashreq bank psc acted as the sole Coordinator, Facility Agent, Mandated Lead Arranger and Bookrunner (the “MLAB”) for the Facility
08/17/2022
22% growth in commercial licensing business in the first half of 2022
Abdulla Belhoul: More than a thousand new trade names in different regions
08/17/2022
Saudi banks shut down 42 branches in 12 months, increase digital presence
Between May 2020 and June this year, 137 bank branches in the Kingdom shut shop.
08/17/2022
CRA launches a public consultation about ‘National Blockchain Blueprint for Qatar’
The blueprint underlines the potential of blockchain technology and the opportunities that it can offer to Qatar.
08/17/2022
Strategic partnership between Fawry and EgyptAir Academy
Fawry to provide e-payment solutions for EgyptAir Academy
08/15/2022
Gold holds gain as traders weigh outlook for Fed tightening path
Bullion just capped a fourth straight week of gains, the longest such run in almost a year
08/15/2022
What you should know about UAE work permit cancellation, how it may impact your resident visa
For businesses operating in a free zone, on the other hand, the relevant free zone authority issues the work permit.
08/15/2022
HC expects the CBE to hike policy rates by 200 bps
HC Securities & Investment shared their expectations on the likely outcome of the MPC meeting scheduled August 18th
08/12/2022
Lebanese bank hostage situation ends after partial funds payout
The hostage situation ended after six hours when the bank agreed to give the man around $30,000, his sister and the head of a local banking association told local media.
08/10/2022
A new player has joined the market: SAMA certifies Marta as payment institution
The Saudi Central Bank has approved Marta as a payment aggregator, allowing it to provide merchants with POS terminals across the kingdom