04/05/2022
Lebanon's central bank not bankrupt, governor says
Country's economy contracted about 58 per cent between 2019 and 2021, World Bank figures show
Legal, Tax, Regulation & Compliance
04/01/2022
UAE's new labours laws trigger 'significant changes' to employment contracts
HRNews about some of the key employment law changes
04/01/2022
Saudi Arabia makes $5bn deposit in Egypt Central Bank
It is part of the kingdom’s efforts to support Egypt’s economy
03/31/2022
Reserve manager: Central Bank of the UAE
The Middle Eastern institution approved a new investment policy, allowing it to diversify into new asset classes and, for the first time, allocate part of its portfolio to external managers
03/31/2022
Egypt’s CBE, Arab Monetary Fund ink agreement to tap regional payment settlements, set-offs
In line with Egypt Vision 2030, CBE has adopted a strategy that focuses on digital transformation and financial inclusion, particularly in the banking sector.
03/29/2022
All sectors return to activity in Bahrain says CBB data
The outstanding balance of total loans and credit facilities provided to Bahrain’s resident economic sectors increased to BD10.9 billion at the end of January 2022
03/29/2022
Saudi Central Bank’s net foreign assets fall for third month in a row
The February decline in foreign currency reserves also affected the level of the central bank’s total assets, which fell by $9.41 billion in month to $478 billion.
03/29/2022
Central Bank of Bahrain issues revised collective investment undertakings regulations
The new framework acknowledges the demands placed by the fast-paced changes in the fund management industry and therefore aims at lightning the administrative processes and simplifying the authorisation requirements for establishing and marketing CIUs
03/29/2022
EU states freeze $130 million worth of Lebanese assets
The European Union Agency for Criminal Justice Cooperation, or Eurojust, said the investigation targets five suspects accused of money laundering.
03/29/2022
CBB treasury bills oversubscribed
The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain
03/28/2022
EBRD and FATEN boost women entrepreneurs in West Bank and Gaza
The EBRD loan will help FATEN to increase funding to women-led local, private MSMEs in the West Bank and will be accompanied by 20 per cent first-loss risk cover for FATEN.
03/28/2022
Baker McKenzie earns top awards in Saudi Arabia and the UAE at the Chambers Middle East Awards 2022
“Saudi Arabia Banking & Finance Law Firm of the Year” – Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited
03/25/2022
Fines up to Dh1 million for breach of UAE's new Labour Law, warn lawyers
Luke Tapp and Ruth Stephen have been writing about this for Outlaw, commenting on the new implementing regulations that supplement the new labour laws.
03/25/2022
Eastern Caribbean Court of Appeal enforces Qatari Royal Family oral will and holds that BVI shares are movable property
The court dismissed the appeal and affirmed the decision of Justice Ellis in the BVI High Court below.
03/24/2022
FRA issues licensing controls for non-banking fintechs
This step is in line with the previously issued decisions to empower women in the boards of directors of companies subject to the authority’s oversight.
03/24/2022
Lebanese banks face off with judiciary as depositors demand accountability
Lebanon's banks have retaliated against judicial orders through strikes, account closures and denial of service to depositors.
03/23/2022
New rules to protect data in Bahrain
The orders also specify the rules and procedures governing submission of complaints relating to violations of the law
03/23/2022
Vaults unsealed at Lebanon's Fransabank after appeal accepted, Lebanese media
Last week's ruling obliged Fransabank to seal its vaults
03/23/2022
Denmark signs extradition treaty with UAE amid Dubai-based Brit tax fraud case
The government has been working for some time to get a general extradition agreement between Denmark and the United Arab Emirates.
03/23/2022
Egyptian FRA seeking to issue $400m of green bonds: CEO
On the other hand, Omran expected that the volume of securitization would double in the short term and that financing through future financial rights would increase compared to current financial rights, after some recent amendments.