COVID-19 response: DIFC announces Presidential Directive to protect firms, employees
Dubai International Financial Centre on Sunday announced DIFC Presidential Directive No. 4 of 2020, which seeks to help limit the…
Regulation, Risk & Compliance
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UAE is partially lifting its coronavirus lockdown measures
The UAE is partially lifting its coronavirus lockdown measures. From 24 April, residents will be allowed to leave their…
Egypt lender buys Mayfair Bank stake for Sh3.7bn
Egypt’s largest private lender, Commercial International Bank (CIB), will inject Sh3.7 billion ($35 million) into Mayfair Bank following its acquisition…
Coronavirus curfew in Saudi Arabia has been partially lifted
The coronavirus curfew in Saudi Arabia has been partially lifted. Residents will have to stay in their homes between…
StanChart Bad Loan Momentum Continues
Standard Chartered could face up to $600 million in bad loans after major borrowers faced a series of reported predicaments.…
DMCC hosts virtual briefing with UAE Ambassador to China
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC joined a virtual briefing call this morning with His…
UN, European Union warn Israel against West Bank annexation
The United Nations, the European Union and several European states, including the United Kingdom, Germany and France, have warned Israel…
Coronavirus: Saudi Arabia forced to boost borrowing as oil glut slams virus-hit economy
Saudi Arabia could be forced to borrow around $26bn more this year and will draw down up to $32bn from…
Contact Finance obtains first consumer credit licence from Egypt's FRA
Contact Finance has obtained the first licence to practice consumer finance activities in Egypt, according to Mohamed Omran, Chairoerson of…
Dubai, hit by lockdown and oil price crash, could be headed for another debt crisis
Dubai, the glittering commercial hub of the Gulf, is facing the risk of a debt crisis reminiscent of the 2009…
DFSA fines La Tresorerie Dh2.25m for illegal cash services, regulatory failings
Dubai Financial Services Authority, the regulator of the Dubai International Financial Centre fined La Tresorerie Ltd $612,790 (approximately Dh2.25 million)…
Saudi Arabia gives three-month loan repayment delay for citizens – central bank
Saudi Arabia’s Monetary Authority has instructed the kingdom’s banks to delay by three months the payment of instalments due on…