De-risking by big banks ‘hitting global trade’
Banks around the world are reducing their banking relationships with a focus on higher-risk countries, including in the region, resulting…
Regulation, Risk & Compliance
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UAE eyes Dubai as Islamic economy hub
The UAE’s Ministry of Finance recently signed a MoU with Dubai Islamic Economy Development Centre to boost co-ordination on matters…
Fitch: Courts Will Be Key to Implementing New UAE Bankruptcy Law
The ability of the UAE courts to interpret the federation's new bankruptcy law and handle bankruptcy proceedings will be key…
Central Bank Approves Requests Of A Number Of Banks To Expand Activities And Open New Branches
The Board of Directors of the Central Bank of the UAE has approved a number of applications of banks and…
Saudi Arabia:Changes made to taxation of listed companies
Saudi Arabia’s General Authority of Zakat and Tax issued a circular on 4 December 2016 that introduces a new approach…
Ajman Bank’ signs a Joint Cooperation Agreement with ‘Takaful Emarat
The joint agreement will allow the two companies to work to conclude a Takaful Emirates’ provision of insurance services to…
Legislative panel rejects rise for China-led Asian Investment Bank – ‘Pilots must be returned to KAC’
The Finance and Economic Committee of the National Assembly received an Sunday a letter from the government requesting it to…
Bahrain Aims To Become Regional Fintech Hub To Boost Its Financial Services Sector
Bahrain is to try and inject some much needed momentum into its financial services industry which is increasingly overshadowed by…
GCC growth may tighten further while US is in rate-hike mode
Rising interest rates threaten to significantly dampen economic growth next year across the Arabian Gulf region, economists warn. The…
NBAD closes syndication of $2b loan
The National Bank of Abu Dhabi, NBAD, has successfully closed the syndication of its $2 billion (Dh7.34 billion) club loan…
Three Gulf central banks hike rates to avert currency pressure after Fed move
Saudi Arabia, Kuwait and Bahrain raised interest rates within minutes of the U.S. Federal Reserve's decision to do so on…
Situationer: Pakistanis quiver as UAE demands tax information
Last week account holders in a major UAE bank began receiving letters alerting them that soon they will be required…