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Dubai investment firm has licence suspended

Regulator had ‘serious concerns about the adequacy of its financial resources’ EmailFacebookTwitterLinkedInPrint

Central Bank of UAE imposes Dh45.7 million fines on 11 banks in the UAE

Fines take into account the banks’ failures to achieve appropriate levels of compliance

11 UAE banks fined Dh45 million for breaking anti-money laundering rules

Further sanctions will be imposed in cases of non-compliance.

Lebanese central bank governor charged with breach of trust

Salameh has headed Lebanon’s central bank since 1993

Oman issues a list of activities prohibited from foreign ownership under the FCIL

The New MD does not apply to a company which is not subject to the new FCIL, such as wholly Omani, GCC and US-owned companies.

UAE financial regulators need to foster innovations, says BCG

Mobile banking usage has increased by over 65 per cent in the UAE during the pandemic

COVID-19 and tax treaties: the updated OECD guidance

This guidance was updated on 21 January. It appears that the goal of the updated guidance is to suggest ways that governments can best address these tax treaty issues through legislation, regulations, guidance, and best practices.

Druces advises on Sharia’a compliant commercial property financing

Working with BLME and Hatstone on this transaction has been a pleasure.

UAE Central Bank makes further headway on compliance and reducing risks

Hosts first forum of chief compliance officers at banks

EBRD shareholders approve membership of UAE

The government of the UAE applied for EBRD membership in September 2020, expressing its wish to contribute to the Bank’s operations.

Egypt inflation hits 15-year low

Government controls on food prices helped reduce the inflation rate to 5 percent, defying forecasts by some major global institutions

Clyde & Co brings its forensics advisory arm to the Middle East

This new service will provide a one-stop-shop that will save both time and money, and also help ensure that any legal or regulatory concerns are identified early,” explained Matthew Shanahan

CBO issues treasury bills worth OMR76 million

The average accepted price reached 99.803 for every OMR100, and the minimum accepted price arrived at 99.800 per OMR100.

Central Bank of UAE begins procedures to execute Insurance Authority merger

Merger to transform Central Bank into one of the top 10 central banks globally

Emirati and Israeli bosses cannot wait to do business

Thanks to the peace deal between their countries, they can now do so out in the open

Qatar Labour Law and immigration: recent reforms

Two new pieces of legislation directly connected with the employment relationship were also introduced.

UAE conducts cyberattack simulation on banking sector

Central Bank tests banks' resilience against cyber threats.

Qatar seen pushing forward VAT implementation: EY

Qatar’s recent implementation of an excise tax based on the underlying principles of the GCC excise tax framework appears to suggest that Qatar may still be committed to implementing VAT in the future.

Venture Studios: The new greenfield for scaling start-ups?

The UAE dominated with more than half – around $580 million – of this investment, while the KSA was the third largest recipient country at just over $150 million.

Ahli Bank, Oman, is SunTec’s 50th customer for its Indirect Taxation Solution

VAT is likely to be introduced in Oman in early 2021 and Ahli Bank has taken the proactive step of adopting a VAT compliance solution to ensure operational efficiency, enhance revenue, and augment customer experience.

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