07/19/2021
Dubai’s Mashreqbank applied for Saudi banking license
UAE's lender is also planning to enter the Omani market
Legal, Tax, Regulation & Compliance
07/19/2021
Syria's Assad says funds frozen in Lebanese banks biggest impediment to investment
Many Syrian front companies had long circumvented Western sanctions by using Lebanon's banking system to pay for goods which were then imported into Syria by land.
07/19/2021
The evolving and complex tax landscape: transformation and risk mitigation in the new reality
Further, the COVID-19 crisis has hastened changes globally within tax frameworks and brought more alignment among tax authorities
07/16/2021
Dubai regulator fines former Abraaj finance chief $1.7 million
"Mr Dave was aware that approximately $200 million was taken from the Abraaj Growth Markets Healthcare Fund (AGHF) and used for the Abraaj Group’s working capital or other investment commitments,"
07/16/2021
Qatar Central Bank announce Eid Al Adha holiday for financial institutions
Qatar Central Bank indicated that all financial institutions and banks will resume their business for the public on Sunday, July 25.
07/16/2021
Clifford Chance advises as Banks’ counsel on Yahsat’s landmark IPO and listing on the ADX
With operations in more than 150 countries spanning five continents, Yahsat is the preferred partner for reliable integrated satellite communication solutions and an industry centre of excellence for both government and commercial customers.
07/15/2021
UAE urges DNFBP executives to fight money laundering and terrorist financing
They include executives from professions outside the financial services sector that have heightened AML/CFT exposure
07/14/2021
UAE Central Bank Sets Roadmap for CBDC Launch
The central bank prioritizes CBDC for its 2023-2026 roadmap.
07/13/2021
Third financial dialogue between Switzerland and Saudi Arabia
Third financial dialogue between Switzerland and Saudi Arabia
07/13/2021
OPEC+’s dust-up underlines supply management challenges
Demand for oil is therefore accelerating and the Organization of the Petroleum Exporting Countries together with allies including Russia, collectively known as OPEC+, are trying to agree how to balance supply to maintain prices.
07/13/2021
UAE to issue its own 'Govcoin' digital currency amid crypto rise in region
The strategy will also see technology used across inspection, monitoring and insurance systems, in addition to utilising the UAE's digital ID infrastructure (UAE Pass) to bolster financial inclusion and easy access to financial services.
07/12/2021
Al Sulaiti Law Firm, OSM Qatar and ERA Qatar announce joint initiative for companies
This is why Al Sulaiti Law Firm, OSM Qatar and ERA Qatar have decided to cooperate together to propose Corporate Advisory Services in the three most important areas of any business - legal services, company management, operational cost optimization.
07/12/2021
Dentons advises Aldar Properties on first of its kind sustainability-linked loan of AED300 million from HSBC Bank Middle East
Aldar will use the loan for general corporate purposes, including planned environmental, social and governance (ESG) group initiatives.
07/09/2021
Saudi's AHAB nears end of years long debt dispute
A bankruptcy judge is expected to indicate within 60 days a date for a creditor vote, and distributions could follow soon.
07/09/2021
Turkey central bank governor under investigation for plagiarism
Opposition media have accused Arıcan of writing Albayrak’s thesis, citing leaked emails obtained by a Turkish hacker group.
07/09/2021
Banks asked to prepare long-term NPL strategy
However, bankers and officials said that no final government decision was taken on a capital injection.
07/09/2021
Mauritius Commercial Bank Ltd to adopt MITECH's TRAC Collateral Management system in the Cloud
The TRAC software will be implemented on a Cloud infrastructure, with the aim of going-live with the system before the end of the year.
07/09/2021
Saudi pension changes could hamper early retirement plans
Riyadh's national pension scheme has a serious hole in its finances, thought to be to the tune of approximately $213 billion.
07/08/2021
BAB signs MOU with Iraq Private Banks League
The two parties agreed to form a joint committee to consult and agree on implementing and following-up joint plans and programmes.
07/07/2021
UAE seeks to tighten anti-money laundering and terror financing measures
Financial sector regulators and law enforcement agencies urged to tighten procedures