Abu Dhabi Islamic Bank raises foreign ownership to 40%
Abu Dhabi Islamic Bank has announced raising the percentage of foreign ownership to 40%, from 25%, of its issued capital…
Regulation, Risk & Compliance
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Saudi Arabian Monetary Authority quashes rumors of bank account freezes
The Saudi Arabian Monetary Authority (SAMA) on Monday quashed rumors it would freeze bank accounts of expatriate workers whose incomes…
Over 100,000 cyber-attacks foiled in UAE last month, says TRA report
The National Computer Emergency Response Team, aeCERT, of the Telecommunications Regulatory Authority responded to approximately 103,408 cyber-attacks, during the month…
DFSA’s 2020 Summer Innovation Testing Licence Programme accepts largest number of innovative firms to date
The Dubai Financial Services Authority has announced that it has accepted 16 firms into its 2020 Summer Innovation Testing Licence…
New body speeds up processing of Saudi judicial liquidation
Local and international licensed companies in chartered accounting, legal services, judicial custody, treasury and other areas are to benefit from…
Dubai witnesses 83% growth in Trader licences issued in first half of 2020
The DED Trader licence launched by the Business Registration & Licensing (BRL) sector in Dubai Economy (DED), enabling start-ups in…
PwC Consulting promotes seven to partner in the Middle East
Global accounting and consulting firm PwC has added seven new partners to its Consulting division in the Middle East. …
Saudi Arabia can bridge budget gap through debt, says Citi Bank chief
Saudi Arabia has the capacity to help fund its budgetary needs during the COVID-19 crisis via a mixture of local…
CIB obtains $100m support loan from CDC
The Commercial International Bank – Egypt (has announced it has signed an agreement to obtain a $100m support loan from…
Norton Rose Fulbright forced to quarantine Dubai staff after infection
Norton Rose Fulbright shut down its Dubai office for a fortnight after a staff member contracted COVID-19, but the firm…
UAE needs to bring in the ‘revenge’ spenders
On May 5, the Shanghai government introduced the “Double Five Shopping Festival”, scheduled to last for two months, providing mega…
Abu Dhabi's KBBO to come up with restructuring plan after taking a hit with NMC exposure
Abu Dhabi based investment group, KBBO, has appointed advisors to come up with a restructuring plan for its liabilities and…