10/29/2021
Bahrain Court Orders Five Years In Jail, Hefty Fines For Financial Fraud
Court files say the two people - one of the suspects an Arab national - took funds from people to invest through two companies owned by one of them.
Legal, Tax, Regulation & Compliance
10/29/2021
DIFC enacts changes to its employment laws
Ruth Stephen tells HRNews about the DIFC’s changes to its employment laws to simplify and clarify working arrangements
10/29/2021
Citigroup plans more investment in Saudi Arabia, eyes banking license
Citigroup's client business model is built around serving multinational companies globally, as well as bringing global investors opportunities in a local market.
10/29/2021
UAE to introduce new Federal Data Law
Ruth Stephen tells HRNews about new data protection laws to be introduced as part of the UAE’s ‘Projects of the 50’
10/29/2021
Dubai royal divorce begins
A ten-day hearing at the High Court before Mr Justice Moor will decide the payout for the princess and their two young children.
10/27/2021
Crypto too close to criminals, says SAMA governor
“Winners in the banking industry will be those who take steps today toward digitization rather than later.”
10/25/2021
DFSA introduces regulatory framework for Investment Tokens
Forms the first of two phases of the DFSA's Digital Assets regime
10/22/2021
Abu Dhabi launches 'Virtual Licence' for non-resident foreign investors
This initiative goes in line with the directions of the UAE government to enable cross-border digital trade: ADDED chairman
10/21/2021
Lebanon central bank audit demanded by creditors to resume
“will have 12 weeks to collect information and draft a report,”
10/21/2021
DIFC and Start-Up Nation Central to Promote Innovation-Based Business Ties Between the UAE and Israel
Pledge to advance market access for high-tech companies with an emphasis on FinTech innovation
10/21/2021
CBB directs BENEFIT to operate national eCheque system
These apps offer several services to users, such as online cheque book issuance request from retail banks
10/21/2021
Clifford Chance advises on historic UAE first bond issue
The Formosa-tranche will additionally also be listed on Taipei Stock Exchange.
10/19/2021
Bahrain’s MPs urged to fast-track pensions debate
Bahrain’s MPs to fast-track a government bill granting a three percent increment to them, starting this year
10/19/2021
UAE and Economic Substance; Don’t be tempted to avoid its relevance!
Different jurisdictions have been introducing their own rules around this topic and the OECD has kept a watchful eye on its progress.
10/15/2021
United Arab Emirates: Upcoming deadlines for economic substance filing requirements
All legal entities are encouraged to determine their upcoming ESR filing obligations as soon as possible for any completed FYs and take necessary steps to ensure filings are made within the applicable deadlines and all necessary supporting documentation i
10/13/2021
How does updated SCA rulebook impact UAE advice firms?
Is the regulatory landscape set to become more or less complicated?
10/13/2021
UAE drafts new law on charity fundraising to combat money laundering
The OECD had warned in a report that charities are being used for money laundering and tax evasion.
10/12/2021
Retail group Marka declared bankrupt by Dubai court in landmark judgement
Dubai court issues strict limits on Marka's former board of directors
10/12/2021
UAE drafts new law on charitable fundraising to fight money laundering
Legislation is still being developed; details to be announced soon, says senior official
10/12/2021
Norton Rose Fulbright advises Servy.us
With the flexibility to operate with either collection or delivery options across concourses B & C, DXB&more has the potential to vastly improve the efficiency and customer service experience for all guests, with further plans already in place to