Citigroup Faces Saudi Setback as Billionaire Backer Arrested
Citigroup Inc. may face new obstacles to rebuilding its Saudi Arabia business after the bank’s longstanding shareholder and promoter was…
Legal
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Saudi King Salman pledges zero tolerance for corruption
“Laws will be applied firmly on everyone who touched public money and didn’t protect it or embezzled it, or abused…
Detention Of Saleh Kamel Does Not Impact Al Baraka Bank Egypt
shraf Ahmed Mustafa El-Ghamrawy, CEO and managing director of Al Baraka Bank – Egypt, said that the bank’s activity was…
It Feels Like A Battlefield These Days In Saudi Arabia
In a brief video clip that circulated on Saudi social media last week, Crown Prince Mohammed bin Salman described his…
New measures on combating money laundering, terror funding
Justice, Islamic Affairs and Endowments Minister Shaikh Khalid bin Ali Al-Khalifa issued edict 64 of 2017 stipulating the commitments of…
Saudi purge widens, travel bans … freeze – New ministers named
A campaign of mass arrests of Saudi Arabian royals, ministers and businessmen widened on Monday after a top entrepreneur was…
Billionaire Olayan Family Said to Put Saudi IPO Plan on Hold
The Olayan family, which runs one of Saudi Arabia’s biggest conglomerates, is putting plans to sell shares in some of…
Billionaire Saudi prince arrested in corruption crackdown
A senior member of the Saudi royal family who ranks among the world’s richest businessmen was arrested last night as…
Turkey arrests philanthropist for links to US-based cleric
Turkey's state-run news agency says a philanthropist businessman and peace activist has been formally arrested over alleged links to a…
Capital Markets Board to Regulate Crowdfunding
Recent Development In our recent alert dated October 10, 2017, we mentioned that the Capital Markets Board will regulate…
Qatar Eases Bank Laws for Expats With Expired Visas Amid Boycott
Qatar’s central bank is easing its banking rules for expatriates, as it grapples with a regional economic boycott about to…
Three Dubai Bankers Cleared Of Accepting Dh37 Million Bribe
Three bank employees have been cleared of accepting bribes worth $10 million, around Dh37million in return for forging bank documents…