Banks’ profits score EGP 45.843bn at end of June 2018
Banks operating in the Egyptian market achieved a net profit of EGP 45.843bn at the end of June 2018, against…
Regulation, Risk & Compliance
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5% VAT 'a starting point' for GCC, says banking chief
Gulf Cooperation Council (GCC) states could see higher rates of value-added tax (VAT) in the future, with the current five…
Saudi Wealth Fund to Invest $1 Billion in Tesla's Rival Lucid
Saudi Arabia’s sovereign wealth fund signed an agreement to invest more than $1 billion in aspiring electric-car maker Lucid Motors…
Dubai Financial Market accredits SICO as market maker and liquidity provider
Hassan Al Serkal: “The DFM is committed to further cooperate with market participants in order to create value for issuers,…
Switzerland seeks bank access to Israeli markets
Switzerland has asked Israel to open its markets so Swiss banks can trade funds there, a senior Finance Ministry official…
Ssangyong E&C wins $62mn contract from Wasl Asset Management Group
UAE-based Wasl Asset Management Group has contracted South Korean builder Ssangyong E&C to build a five-star boutique hotel at La…
U.A.E. to Offer Expats Long-Term Residency Visa After Retirement
The United Arab Emirates will allow foreigners to obtain long-term residency visas after they retire, in a major policy shift…
UAE Ministry of Finance to enhance financial coordination
The Ministry of Finance (MoF), in collaboration with the World Bank Group (WBG), held a roundtable discussion on the project…
Islamic banks face outdated property rules: industry body
Regulators overseeing Islamic banking must revise guidance on real estate exposures to align with the post-financial crisis capital rules of…
UAE Higher Sharia Authority held a consultation meeting with members of the Internal Sharia Control Committees
The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held a Consultation meeting with the members…
Dubai financial regulator appoints new chief executive
Dubai Financial Services Authority, the emirate’s financial services regulator, appointed a new chief executive to replace Ian Johnston who will…
Egypt seeks sovereign wealth fund boss
Egypt is looking to hire a chief executive for its new sovereign wealth fund as it seeks to attract more…