11/27/2020
Egypt banks step up anti-virus efforts
The federation's latest plan includes a follow-up on alternative workplaces to allow departments to continue working in cases of forced interruption.
Legal, Tax, Regulation & Compliance
11/27/2020
Dubai Court orders whopping Dh1.6b compensation to founder of Tameer Real Estate Company
Experts' panel finds in favour of Omar Ayesh, who built one of the tallest towers in Dubai
11/26/2020
Bank CEOs welcome TESS extension by CBUAE
Governor of the Central Bank of the UAE commenced the meeting by recognizing and thanking all CEO's and their staff
11/26/2020
QFC unveils policy statement on licensing new global law firms
The policy further stipulates that while exemptions may be made, subject to the QFC Authority’s absolute discretion
11/26/2020
Turkey Dismantles Another Key Policy to Cool Lending Boom
Banking regulator repeals asset-ratio rule at the end of 2020
11/26/2020
Turkish central bank raises swap auction limit to 60%
The new regulation will give banks more room for lira and currency liquidity management.
11/26/2020
Qatar welcomes skilled Turkish workforce in private sector
He said the trade between both countries has increased by 136 percent from $908m in 2016 to $2.2bn in 2019, while it hit $1.2bn in first half of 2020.
11/26/2020
PwC reveals cost optimisation measures high on the agenda for CFOs
Beyond policy measures, most public sector organisations have been instructed to find ways to cut costs and rationalise spending.
11/26/2020
Mandate qualifications for advisers, UAE regulator urged
Move will help ‘weed out the unscrupulous elements who bring ill-repute to professional advisers’
11/25/2020
QFCRA starts legal action in New York to enforce judgment against First Abu Dhabi Bank
It added that the action arises from FAB’s obstruction of an investigation conducted by the QFCRA and the lack of integrity demonstrated by FAB as a firm conducting business in the QFC.
11/25/2020
Saudi King approves renaming Saudi Arabian Monetary Authority to Saudi Central Bank
Saudi Arabia, the world’s biggest oil exporter, pegs its riyal currency to the dollar at 3.75 per one U.S dollar, a rate unchanged since 1986.
11/25/2020
UAE- Register hawala business by Dec 2 or face the law
Hawala, also known as hundi, is a process whereby money value is transferred to individuals in other countries, and is usually used in the remote places of those countries, which do not have access to banking services.
11/24/2020
IsDB unit launches Saudi Islamic Finance country report
The timing of the Saudi Arabia G20 2020 Presidency offers a unique moment for the world and the Kingdom.
11/24/2020
BOD49 to spark HNW expat ‘pensions gap’ in UAE?
Increased regulation which disincentivises selling may leave clients without products
11/24/2020
UAE to allow 100% foreign ownership of businesses
The government of the United Arab Emirates announced by decree today that foreign investors can fully own local companies without the need for an Emirati sponsor.
11/24/2020
AB Bank siphons Tk 236cr more
ACC finds 25 people involved
11/24/2020
Qatar starts legal proceedings against FAB in New York in market manipulation row
Qatar in 2018 alleged that First Abu Dhabi Bank, the United Arab Emirates’ largest lender, made “bogus” foreign exchange deals to harm Qatar’s economy after the UAE and other Arab states began a boycott of Qatar in 2017.
11/23/2020
Saudi Arabia to review VAT hike once economic crisis ends
The VAT hike to 15 per cent, was implemented in July this year
11/23/2020
Israel’s Bank Hapoalim signs agreement with DIFC, AGDM
The agreement enables Bank Hapoalim to access banking and innovation opportunities in the Middle East, Africa and South Asia through the DIFC platform
11/23/2020
Goldman says Saudi peg ‘here to stay,’ though at cost to economy
In a low oil price environment, however, this means that fiscal policy will have to tighten, keeping the budget deficit in check in order to ensure that external balances remain consistent with peg stability.