ACC okays charge sheet against ex-AB Bank chair, 7 others
The Anti-Corruption Commission on Thursday approved a charge sheet against former AB Bank chairman M Wahidul Haque and seven others…
Legal
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Bahrain brings charges in vast money laundering case linked to Iranian state-owned banks
Bahrain launched legal proceedings on Thursday against a number of individuals and businesses involved in a vast money laundering scheme…
Claims worth Dhs3.1bn filed in Dubai’s DIFC Courts in 2019
The Dubai International Financial Centre Courts revealed that the total number of cases filed in 2019 increased 43 per cent…
New Limits on Turkish Bank Fees and Commissions
Recent Developments The Communiqué No. 2020/4 on the Procedures and Principles Regarding Fees That Banks Can Charge to Corporate…
Amendments to Turkish Banking Laws
Recent Development The amendments to the Banking Law No. 5411 (“Banking Law”); the Debit Cards and Credit Cards Law…
Innovations in the Turkish Capital Markets Law: Security Agent, Bondholders Meetings, Project Bonds
Recent Development The amendments to the Capital Markets Law No. 6362 were published in the Official Gazette on February…
DIFC Courts cases surge 45%; more than $844mln commercial claims
More and more businesses are resorting to the Dubai International Financial Centre Courts to settle conflicts, with the nearly 1,000…
Lebanon to appoint Cleary Gottlieb to advise on Eurobonds
Lebanon will appoint Cleary Gottlieb Steen & Hamilton LLP as legal adviser on its Eurobonds, a source close to the…
DFSA Fines Company USD 105,000 for Unauthorised Activity
The Dubai Financial Services Authority (DFSA) has announced that it has fined Enness Limited (Enness DIFC), a DIFC Representative Office.…
Dubai fines financial advisor $105k for unauthorised mortgage operations
The Dubai Financial Services Authority on Tuesday announced that it has fined Enness Limited (Enness DIFC) $105,000 for engaging in…
Tax data sharing sparks arrests among Israelis with unreported foreign bank accounts
The exchange of information on millions of financial accounts shared between countries under the Common Reporting Standard is is leading…
UAE regulator to investigate Pakistan bank for money laundering
The United Arab Emirates’ central bank is investigating Pakistan’s largest bank to ascertain if it violated anti-money- laundering and terrorism-financing…