Dubai’s Jebel Ali freezone waives Dhs35m in fines
Dubai’s Jebel Ali freezone (Jafza) will waive an estimated Dhs35m in fines owed by its customers, it announced on Sunday.…
Regulation, Risk & Compliance
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Saudis deposit $250m in Sudan’s central bank
Saudi Arabia announced Sunday it deposited $250 million (Dh917.5 million) in Sudan’s central bank as part of a support package…
How Cryptocurrencies are Regulated in the Middle East
Over the years blockchain and cryptocurrency have gained significant influence over world economics and now this industry had reached on…
UAE makes plans for expat retirement benefits fund
The UAE’s Federal Authority for Government Human Resources has begun moves to develop a new fund-based system for expat workers…
Turkey raises forex sales tax in another support for lira
Turkey has raised a tax on some foreign exchange sales to 0.1 from zero, the country’s latest effort to discourage…
UAE central bank injects $2bn as bank deposits drop
The Central Bank of the United Arab Emirates in March injected AED7.3 billion ($1.98 billion) in cash to the financial…
New system to boost UAE finance sectors's integrity
The Central Bank of the UAE has developed a Persona Non Grata System in order to restrict persons with questionable…
CBK sends cautionary note to some auditors
The Central Bank of Kuwait has sent a cautionary note to some auditors, stressing that they should adhere to the…
BitOasis Ready to Become First Licensed Middle Eastern Bitcoin Exchange
BitOasis is set to become the first regulated bitcoin exchange in the entire Arab world following preliminary approval from regulators…
Kuwait, Iraq Sign Deal to Avoid Double Taxation
The Kuwaiti and Iraqi ministries of finance signed an agreement for avoiding double taxation and preventing financial evasion for income…
Drowning in credit card debt in UAE? Expert tips to use credit cards to your advantage
Does a credit card always leave you with a debt or a liability? Popular opinion in the UAE is that…
Dubai plans single licence to operate in all free zones
Members of the Dubai Free Zones Council have reached a preliminary agreement on a new initiative to make it easier…