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Legal, Tax, Regulation & Compliance

11/20/2020

Saudi MoJ expands e-conveyance of property to cover additional banks

It is noteworthy that the ministry has raised the upper property value limit for e-conveyance to SAR 3 million, in order to streamline transactions and save clients time and effort.

11/20/2020

Online portal for UAE economic substance regulation notification

The MOF said licensees that had already submitted notifications will now need to re-submit the notification via the portal.

11/20/2020

Oman Arab Bank launches debt exemption initiative for defaulting borrowers

Debt exemption initiative includes a wide range of stringent criteria to ensure that it benefits and supports those most in need

11/20/2020

Turkey hikes rates to rescue lira

Turkey had long resisted investor calls to raise interest rates to support the tumbling lira.

11/20/2020

Abu Dhabi’s Etihad and El Al Israel sign MoU to cooperate on codeshare and loyalty programme

The teams at Etihad Guest and El Al Matmid loyalty programmes will explore reciprocal “earn and burn” opportunities for its members

11/19/2020

BCG discusses how to lead in the new reality during the middle east CEO & leaders forum

The Invitation-Only Events Brought Together Middle Eastern Senior Leaders To Discuss Pressing Topics Across Sectors

11/19/2020

Egypt- ABE signs agreement to finance 1.5 million-feddan reclamation project

According to the protocol, the ABE will finance small and medium enterprises

11/19/2020

Criminal charges brought against Falcon Private Bank

Falcon has announced its plans to wind down.

11/18/2020

Extension of UAE Central Bank’s support scheme a confidence booster: Bankers

The initiative would shield the economy from the impact of the pandemic and place the UAE in an ideal position to recover, once the pandemic is over

11/18/2020

Turkish banks may hit profit milestone in 2021 on market-friendly policies

The central bank will hold its first meeting under the new team on Thursday, when it is expected to hike the main policy rate by 475 basis points to 15%.

11/18/2020

How Dh50 billion Central Bank stimulus extension will boost UAE economy

Central Bank of UAE’s decision will support fund-strapped individuals and businesses

11/18/2020

Legal Advisors Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited

This transaction, which involves creating a mudaraba based subordinated perpetual financial "equity-like" instrument, is the world's largest ever Islamic finance transaction

11/17/2020

UAE central bank extends stimulus scheme to stem COVID-19 impact

CBUAE will now extend for another six months, starting from January, the duration of a "Zero Cost Facility" aimed at easing liquidity management for banks

11/17/2020

CIB’s financial position unaffected by initial audit report: Chairperson

Sami stressed that the CIB pays great attention to the Central Bank of Egypt’s notices regarding compliance issues, and that the necessary mechanisms are being put in place to avoid the repetition of these issues in the future

11/17/2020

Reinforce Financial Policies To Tackle COVID-19 Repercussions Says Egyptian President

Maait also listed efforts to manage debt in accordance with the government’s strategy.

11/17/2020

Saudi government signs supply chain finance agreements with three banks

The finance ministry then pledged in late 2016 to accelerate the payment process within 60 days from receiving the invoice.

11/16/2020

Kobre & Kim’s Israel Practice is Robus’ International Law Firm of the Week

Robus referred to the firm’s focus on disputes and investigations and complimented the firm as “one of the most interesting international law firms operating in Israel today.”

11/16/2020

KPMG: Saudi Arabia ‘the next frontier’ for F&B operators

Despite the pandemic, the Kingdom is still viewed as the region’s biggest opportunity

11/16/2020

Rights and dues of Arabtec staff to be protected

Financial dues of employees to be paid through the liquidation of its bank guarantees

11/16/2020

Yemeni bank reopened after Houthis raid in Sanaa

The Houthi central bank said it ordered the raid after finding out that the bank is involved in illegal financial activities

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