Two Lebanese banks deny ties to Hezbollah lender
Hackers who hit one of Hezbollah’s principal lenders and dumped records of thousands of its customers across Lebanon online have…
Legal
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Oman: Seven arrested on charges of online fraud
Seven expats have been arrested by the Royal Oman Police (ROP), on charges of online fraud. A statement issued…
Abu Dhabi jails six, slaps fines of Dhs160m on money laundering charges
Six expats have been imprisoned in Abu Dhabi and slapped with hefty fines on charges of money laundering. The…
Are Banks Enablers or Victims of Financial Crime?
Not many years ago, banks, law firms and accountants were trusted institutions, staid but solid, a key part of the…
UAE jails 6 expats, issues fines up to Dh160 million for money laundering
The Abu Dhabi Criminal Court has convicted six expats, and two companies owned by one of the accused, for committing…
Experts welcome Saudi Public Prosecution’s push to keep capital markets fair, honest
Saudi Arabia’s Public Prosecution has hammered home the message to traders that it is against the law to create a…
Egypt promotes comprehensive plan to confront overpopulation
Egypt has recently adopted a comprehensive strategy to control the population growth that poses huge pressure on the country’s resources…
Turkish minister pledges accountability amid reforms to woo foreign investors
Turkey will follow through its pledges to carry out economic and legal reforms, Treasury and Finance Minister Lutfi Elvan said…
Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’
Saudi Arabia’s Public Prosecution affirmed that it is prohibited by law to intentionally take any action that creates a false…
Legal Advisors and Baker McKenzie advise on Gulf Insurance Group's acquisition of AXA's Middle East insurance business
Abdulaziz Alajlan & Partners alongside Baker McKenzie, London have advised Gulf Insurance Group on the acquisition of AXA’s insurance operations…
UAE Sets Up Special Courts to Combat Money Laundering
The UAE has set up a series of special federal courts to tackle the issue of money laundering, as part…
The UAE Recalibrates its Foreign Direct Investment Framework with 100% Foreign Ownership and Other Landmark Changes to its Commercial Companies Law
On November 25, 2020, the UAE Royal Cabinet announced the issuance of a new decree (the "2020 FDI Decree") amending…