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Legal, Tax, Regulation & Compliance

12/05/2022

CBE grants ADIB-Egypt preliminary approval to launch prepaid card Takka

ADIB-Egypt had obtained at the end of last year the Financial Regulatory Authority’s approval to launch ADI-CF, the bank’s wholly-owned and dedicated consumer financing arm

12/02/2022

Egypt's net foreign assets continue to fall in October

The decrease works out to about $228mln after calculating for devaluations during October

11/30/2022

The BIBF receives a number of Arab Central Bank Governors

To discuss areas of cooperation in training and development

11/29/2022

Baker McKenzie awarded “Employment Team of the Year” at The Oath Middle East Legal Awards 2022

The “Employment Team of the Year” award recognized Baker McKenzie’s legal expertise, innovation in service delivery and project management in relation to the landmark employment matters and projects in the region.

11/28/2022

Alvarez & Marsal releases Q3 2022 Saudi Arabia Banking Pulse

Top 10 Saudi banks report jump in profit off the back of rising interest rates, improved cost efficiency and lower impairment charges

11/28/2022

Federal Tax Authority holds awareness seminar about the EmaraTax platform on World Future Day

The session explored the platform’s role in shaping a more advanced future tax system

11/25/2022

Turkiye central bank says easing done after a policy rate cut to 9%

Liam Peach, senior emerging markets economist at Capital Economics, said there is still a risk of further cuts in coming months.

11/21/2022

UBF commits to UAE’s sustainable socio-economic growth

UBF praised the continuous support and guidance from the Central Bank of the UAE in developing policies and regulatory frameworks to maintain the safety of the banking system

11/21/2022

Banque du Caire establishes Cairo Exchange with authorized capital of $10.18mln

Work is scheduled to start at the end of this month, and three branches are being prepared in the regions of Disouq, Sohag, and Hurghada to launch before the end of this year

11/21/2022

Saudi SMEs need to transform into resilient, tech-savvy operations to go global: KPMG

It suggested that SMEs will also need to use third parties to accelerate digitization, enabling them access to the technical skills and experience required to build new digital solutions, elevate capabilities, monitor performance, and sustain contractor r

11/18/2022

Alpadis Group obtain license, open new office in Dubai International Financial Centre

Alpadis Group secure license to operate in DIFC, to offer more solutions for financial services, Family Office, Holding companies, investment funds and other structures

11/18/2022

Regional security top of the agenda for Arab leaders in Bahrain

Annual summit in Manama will cover Russia's invasion of Ukraine and Iran

11/18/2022

UAE's Emiratisation drive: Here's how much salary professionals earn

Emirati talent has increased significantly in recent years due to the ongoing educational initiatives by the government

11/17/2022

Saudi Arabia establishes its open banking framework

The most mature open banking regimes globally are in Europe, where the conversation has already turned to the establishment of broader ‘open finance’ frameworks.

11/16/2022

CBB Sukuk Al-Salam securities fully subscribed

Subscriptions worth BD 43 million were received for the BD 43 million issue, which carries a maturity of 91 days

11/16/2022

President highlights UAE’s ambitious, yet balanced, approach to achieve sustainable outcomes at G20

Mohamed thanks Indonesian presidency for great G20 efforts, wishes success for India

11/14/2022

United Arab Emirates: The Dubai Financial Services Authority introduces a regulatory framework for recognized crypto tokens

In early 2022, the Emirate of Dubai also introduced the Virtual Assets Law and established the Virtual Assets Regulatory Authority (VARA) as Dubai’s primary virtual assets regulator.

11/14/2022

First Middle East exchange launches corporate climate change disclosure initiative

IFC will provide technical support and training to the employees of the Amman Stock Exchange and its listed companies

11/09/2022

Saudi Kayan signs murabaha facility worth $800mln

The facility to be used to support working capital requirements

11/09/2022

New UAE visa rules: Validity decreased for visas issued in free zones

The country has over 40 multidisciplinary free zones, and both expatriates and foreign investors are allowed to have full ownership of companies

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