UAE banks close to resolving credit bureau liability issue
Banks in the United Arab Emirates are close to resolving a liability issue over information provided by the Gulf Arab…
Legal
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Identity crisis for Islamic finance
Islamic finance is flourishing as corporate and retail demand booms, but some question whether the industry is abandoning the values…
UAE launches money-laundering crackdown
United Arab Emirates banks have been banned from doing business with some Islamist groups including the Muslim Brotherhood, their representative…
Bank Asya Reduces Staff as Turkish Political Feud Hits Deposits
Asya Katilim Bankasi AS, the lender embroiled in a feud between Turkey’s president and a Muslim cleric accused of trying…
Qatar moves to increase business regulation
Qatar has approved draft legislation that increases the regulatory burden on small businesses, weeks after the Gulf state fell 11…
FAAIF Introduces the Dubai World Islamic Finance Arbitration Center in Europe
Camille Paldi, CEO of FAAIF introduces a proposal for a dispute resolution mechanism for the Islamic finance industry, namely, DWIFAC,…
Banks behaving badly: can Middle East sector profit?
The reputation of international banking is under scrutiny once again over another scandal, this time in the foreign currency trading…
Bahrain’s Arcapita Raises $100 Million After Exiting Chapter 11
Bahrain’s Arcapita Bank BSC has raised $100 million from shareholders to fund a return to dealmaking a year after it…
Bahraini fund Mumtalakat launches $600 mln seven-year sukuk
Bahrain sovereign fund Mumtalakat has launched a $600 million seven-year sukuk at the tight end of its previously-marketed price range,…
United Arab Bank signs agreement with Nationals' Defaulted Debts Settlement Fund
United Arab Bank the fastest growing bank in the UAE, has signed an agreement with the Nationals' Defaulted Debts Settlement…
Convergence between Shari’a and traditional accounting standards?
The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is reportedly working with the International Accounting Standards Board…
Baker & McKenzie Habib Al Mulla advises Hasan Ismaik on sale of significant stake in Arabtec to Aabar Investments PJSC
Leading UAE law firm Baker & McKenzie Habib Al Mulla has advised Hasan Ismaik, the former CEO of the Dubai-based…