Saudi government reserve drops by near $23bln in Q4 – official figures
Saudi Arabian Monetary Authority’s government reserve dropped by 84.2 billion Saudi riyals ($22.7 billion) in the fourth quarter of 2018,…
Regulation, Risk & Compliance
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12 fined Dhs1.96 million over bank scam
Twelve men who ganged up to siphon Dhs175, 000 from a policeman’s joint bank account have been jailed for 174…
Saudi prince’s anti-corruption sweep ends with $106B netted
Saudi Arabia’s unprecedented anti-corruption sweep that saw top princes, businessmen, military officers and officials detained at the Ritz-Carlton hotel has…
Dubai regulator secures $52,500 fine through British courts
The Dubai Financial Services Authority has successfully pursued Andrew Grimes, formerly of Clements Dubai Limited, through the UK courts for…
Digital giants ‘profiting’ from settlements; call to oppose Eurovision
Digital tourism giants Airbnb, Booking.com, Expedia and TripAdvisor are profiting from “war crimes” by offering services in Israeli settlements, rights…
DFSA joins launch of Global Financial Innovation Network
The Dubai Financial Services Authority has announced the launch of the next phase of the Global Financial Innovation Network …
Agusta accused deported from UAE
Rajiv Saxena, one of the accused in AgustaWestland scam, was deported from the United Arab Emirates to India on Wednesday…
TCS Bancs core system shows Solidarity in Bahrain
Solidarity Bahrain, a subsidiary of Solidarity Group Holding, provides a range of Sharia’h compliant protection products. Solidarity Bahrain was founded…
Dubai Drags Its Heels On Release Of $500m In Frozen Funds, Missing Its Own Deadline To End Dispute
The Dubai authorities are continuing to hold $496m in funds belonging to a Kuwaiti investment firm which have been stuck…
UAE-Saudi digital currency will be restricted to few banks, central bank says
A proposed UAE-Saudi digital currency will be restricted to a few banks in each country for executing financial settlements between…
Yemeni gov't seeks to unfreeze bank accounts in foreign countries
The Saudi-backed Yemeni government started Tuesday talks with foreign diplomatic missions in an attempt to unfreeze its bank accounts being…
UAE, Saudi central banks to launch common digital currency called 'Aber'
The central banks of the UAE and Saudi Arabia announced the launch of a common digital currency called "Aber", which…