Kuwait fines Ahli Bank chairman $5.3 mln over insider trade
A Kuwaiti court has fined the chairman of Al Ahli Bank, the country's eighth largest bank by market capitalisation, 1.5…
Fraud & Ethics
710 articles found
Prosecutors from UK’s CPS sent to Dubai, Spain to recover criminal assets
The UK’s Crown Prosecution Service is to base two specialist prosecutors in Spain and the United Arab Emirates to recover…
Big money-laundering racket busted in Bahrain
Twelve men have been accused of being part of a money laundering ring that illegally transferred SR400 million ($106.6 million)…
Dubai’s Mashreq in settlement talks with ING over investment ‘trickery’
Dubai’s Mashreq has agreed to settlement discussions in a lawsuit that it brought against ING Group in a New York…
Denmark's largest bank blacklists Israel's Hapoalim over settlement construction
Denmark's largest bank decided to blacklist Bank Hapoalim because of its involvement in the funding of settlement construction. Danske…
Saudi, UAE move to combat counterfeits
Directors general of customs departments in Saudi Arabia and the UAE discussed ways to enhance cooperation and reach a joint…
Turkey doubles tax fines
The Turkish government imposed a record amount of tax penalties last year by more than doubling the collected tax fine…
Islamic banks should be named 'ethical banks'
Islamic Shariah-compliant banks should be named ethical banks because their present name has monopolizing implications and banks are just a…
Dubai Bank Sues Brits Over $432m Hotel Fraud
Dubai Islamic Bank has successfully sued two jailed British men for $432m in a long-running fraud case involving a Dubai…
Dubai investigates Deutsche Bank over anti-money-laundering practices
Germany’s Deutsche Bank is under investigation by the DIFC’s financial regulator over alleged shortcomings in its customer due diligence and…
Former Bank Hapoalim chairman pleads guilty to fraud
Former Bank Hapoalim chairman Danny Dankner struck a plea bargain with prosecutors on Thursday. Dankner pled guilty to fraud…
Bank Alhair wins a further ruling against former CEO
The Bahrain Chamber of Dispute Resolution (BCDR) issued a verdict on Monday, 7 October 2013 in favor of Bank AlKhair,…