Iran detains 19 suspects in $2.6bn bank fraud case
Iranian authorities have detained 19 people suspected of being involved in a $2.6 billion bank fraud scheme which is regarded…
Legal
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Capital flight from Egypt and Libya hit $8 billion during Arab Spring
The Arab Spring drained more than US$8.6 billion (Dh31.58bn) in bank deposits from Egypt and Libya in the first three…
U.S. tax-evasion probe turns to Israeli banks
The U.S. pursuit of offshore tax evaders is widening to include Israel, where U.S. authorities are scrutinizing three of Israel's…
Deposit guarantee may stay longer
The UAE government is considering extending a three-year decision to guarantee bank deposits introduced just after the eruption of the…
KFH dismisses dealing in financial derivatives
The Kuwait Finance House (KFH) on Saturday categorically denied reports about the bank's alleged dealing in financial derivatives. "KFH is…
DFSA and NASDAQ Dubai Announce the Transfer of the Official List of Securities
The Dubai Financial Services Authority and NASDAQ Dubai have announced that with effect from 1 October 2011 the responsibility for…
Iran hit by massive $2.6 bn banking scam
Several Iranian banks have been targeted in one of the biggest frauds in the Islamic republic's history, losing nearly $2.6…
International links to boost Turkey’s Islamic banks?
Turkey’s Islamic banking sector has grown strongly over the past five years, with total sector assets accounting for about five…
Insurer sues Saudi Arabia over 9/11
Saudi Arabia and some of its banks and charities bear “primary responsibility” for the 9/11 attacks by siphoning cash to…
International law firm opens Istanbul office
The international law firm of Chadbourne & Parke has announced that it has opened an office in Istanbul. The Istanbul…
Brazil Blocks Transfer to Libya to Prevent Funding for Qaddafi
A Brazilian court blocked dividend payments from a bank indirectly controlled by the Libyan central bank to prevent the proceeds…
Global law firm hires former Simmons UAE chief
Global law firm K&L Gates LLP has established an office in Doha, Qatar, the firm’s second in the Middle East…