06/17/2021
Lebanon's banks stuck in reverse: jobs go, lending dives
About 3,000 bankers, or more than 10% of the banking industry workforce, have resigned or lost their jobs so far since a financial crisis flared up in late 2019
Legal, Tax, Regulation & Compliance
06/17/2021
Saudi Arabia to Form Entity With $29 Billion in Equity Holdings
PPA, GOSI also own other assets including bonds, real estate
06/16/2021
PwC's $12bln global strategy will create 6,000 Middle East jobs
Firm says its new investment will create 100,000 jobs globally in five years
06/16/2021
Kuwait Hasn’t Renewed Wealth Fund’s Board Since Term Expired
It’s unclear whether any major decisions have been put on hold since April 20, when the nine-member board’s term expired.
06/16/2021
Central Bank of UAE seeks private sector participation in anti-money laundering efforts
Unifying efforts has contributed to raising the UAE’s compliance AML/CFT
06/16/2021
Whistleblowing protections in the UAE
The UAE Penal Code imposes positive obligations on all persons to report crime.
06/15/2021
Foreign investment opportunities expand in the United Arab Emirates
This law also repeals Federal Law No. 19 of 2018 regarding foreign direct investment, which had allowed foreign investors to own up to 100 per cent.
06/15/2021
KPMG launches competition for tech start-ups in UAE
Per a KPMG statement, the UAE iteration was inspired by a similar contest
06/14/2021
Should GCC states be afraid of the G7 corporate tax plan?
Saudi Arabia was regarded as especially exposed to the fallout from a global tax.
06/14/2021
Tax or no tax, UAE aims to remain magnet for investors
The United Arab Emirates entered the world’s top 10 tax havens for the first time in March, according to the Tax Justice Network.
06/14/2021
Egypt’s Banque Misr applies on licenses to operate in Somalia, Djibouti, Kenya
As such, Banque Misr will be having operations in four African states given that it already has a branch in Cote D’Ivoire.
06/14/2021
Clyde & Co named International Law Firm of the Year in the Middle East
Global law firm Clyde & Co was named 'International Law Firm of the Year' for the second year in a row at the prestigious Legal Week Middle East Legal Awards 2021.
06/14/2021
CBUAE issues guidances for its licensed financial institutions on anti-money laundering and combatting the financing of terrorism
The Guidances will assist the understanding and mitigation of risks as well as the effective performance by the LFIs of their AML/CFT statutory obligations
06/13/2021
Germany buys Dubai data to track possible tax evasion
Der Spiegel Magazine first reported the purchase of a CD containing details of assets in Dubai
06/11/2021
Turkish central bank alters name of key survey, citing forecast confusion
The central bank said in its April Inflation Report that it expects year-end inflation of 12.2 percent.
06/11/2021
Egyptian regulator tells Banque du Caire, others to IPO this year
In Egypt, companies are allowed to list on the exchange before actually offering shares to be traded
06/11/2021
SAMA advances licensing process of two digital banks
The move is also in order to achieve the objectives of the Kingdom’s Vision 2030 aims.
06/11/2021
Israel group sues Qatar banks, charities for more than $360m
Shurat HaDin also claimed that branches of Qatar Charity in Ramallah conduct transfers directly to Hamas operatives in Gaza.
06/10/2021
The Central Bank of the UAE and the Central Bank of Egypt enhance cooperation on banking supervision
Mr. Tarek Amer, Governor of the Central Bank of Egypt, said: “Egypt is keen to strengthen the bonds of collaboration with Arab nations
06/10/2021
UAE central bank unveils whistleblowing portal
To address ‘occurrences of alleged illegal and unethical practices’