05/28/2021
NMC's administrators set for new round of hearings in dispute with Dubai Islamic Bank
Alvarez and Marsal had sought power over securities held by the bank relating to insurance payments
Legal, Tax, Regulation & Compliance
05/28/2021
Bahrain central bank gives instructions to postpone all loan installments
Shopping malls, restaurants and coffee shops began on Thursday observing a two-week shutdown
05/27/2021
Abu Dhabi judge rules in favour of Dubai Islamic Bank in NMC case
NMC's administrators Alvarez & Marsal filed a suit in ADGM courts last month to obtain power over those securities, claimed by Dubai Islamic Bank, and possibly to use them to pay other creditors.
05/27/2021
2021Saudi Central Bank mulls adding COVID-19 insurance coverage for non-Saudi tourists
Saudi Central Bank says possible coverage would remain for the duration of a visit to the Kingdom
05/27/2021
Qatar National Bank removes ex finance minister from board after arrest
Emadi had been minister of finance in the wealthy Gulf Arab state since 2013
05/27/2021
Kuwait central bank issues warning against digital currencies
The apex bank has partnered in this campaign with the Kuwait Banking Association and all Kuwaiti banks to raise financial awareness in the country.
05/27/2021
UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021
The central bank’s foreign assets increased 0.4 per cent year-on-year
05/26/2021
Andersen Global Expands Practice in Turkey with Istanbul-Based Tax Firm
The quality of service and client satisfaction are critical aspects of our business
05/26/2021
Abu Dhabi judge rules in favour of Dubai Islamic Bank in NMC case
NMC ran into trouble last year after the disclosure of more than $4 billion in hidden debt
05/26/2021
GCC governments to see sharp fall in fiscal deficits from this year
GCC states have shown spending restraint in response to oil price decline and COVID
05/26/2021
Saudi Arabia, World Bank pledge $100m for global tourism fund
It will be the first global fund dedicated specifically to supporting global tourism growth
05/26/2021
Saudi Tas'heel gets credit card finance approval from SAMA
eXtra said the approval comes in line with the company’s strategy to offer a complete set of solutions in Sharia-compliant consumer finance to reach to a wider customer base
05/25/2021
Saudi seeks to raise $55bln through privatisation by 2025
According to a report by Financial Times, funds raised through future sale of Saudi Aramco shares will go to PIF
05/25/2021
Lebanon central bank chief says depositors' money safe
The plan would involving releasing $50,000 per depositor, of which $25,000 would be cashed out in dollar bills and the remaining $25,000 in Lebanese pounds at the market price.
05/21/2021
Enforcement of English court judgments in the DIFC
The DIFC Court also has a ‘conduit’ role to play in facilitating the enforcement of English court judgments before the onshore Dubai courts.
05/20/2021
Full foreign ownership of UAE firms set to go live
It will no longer be a requirement to have a local sponsor/agent
05/20/2021
Bahrain ‘ready to implement open banking’
The grace period for compliance with the OBF ended on April 30 this year
05/20/2021
Arab Financial Services and Discover sign network alliance agreement
Discover, Diners Club International and network alliance cardholders will be able to use their cards for the first time in Bahrain through this strategic alliance.
05/20/2021
Qatar bankers must reveal emails over boycott response
Qatar sued Banque Havilland in London in 2019, accusing the lender of leading a financial attack with the aim of destabilizing the Qatari riyal
05/19/2021
Farringdon AM sets up financial advice firm in Dubai
It will advise retail clients on onshore and offshore products