SBI merger with its associates to result in consolidation of GCC operations
State Bank of India and its associates expect to complete the merger by the end of the current financial year…
Regulation, Risk & Compliance
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7,000 Kuwaitis with $2.3bn in FATCA reveal
The USA Tax and Financial Consultants Office in the Middle East confirmed that Kuwait has revealed the accounts of about…
Switzerland eyes AEOI with 21 countries
Switzerland, which has been working to end its years long practice of banking secrecy, on Thursday said it aimed to…
Financial services firms prepare for CRS implementation
The UAE’s Ministry of Finance and the Central Bank of the UAE are working with banks and other financial services…
UAE to begin implementing G20, OECD procedures for tax information exchange
The Ministry of Finance has announced that the UAE will begin implementing the standards of joint disclosures and the exchange…
Qatar’s $35bn foreign reserves to cover ‘more than a year of imports’
Qatar’s foreign reserves, currently estimated at $35bn, cover more than a year of imports, BMI Research said and noted that…
Spain, Qatar eye $1 bln Latam investment fund signing in 2017
Spain and Qatar hope to sign early next year an agreement to form a $1 billion joint investment fund that…
US interest rate continues hike
Last week the US dollar continued its rally against most of its counterparts sparked by US President-elect Donald Trump’s promises…
UAE monetary data points to tightening liquidity conditions
The UAE’s monetary data for October showed tightening liquidity conditions in the banking sector as deposits fell on a monthly…
Kuwait's Al Ahli Bank rebrands subsidiary in Egypt
Al Ahli Bank of Kuwait (ABK) has rebranded Sunday its subsidiary in Egypt, Piraeus Bank Egypt, under the new name…
Central Bank imposes fine on Jordan Kuwait Bank (Cyprus branch)
The Central Bank of Cyprus has decided to impose sanctions in the form of a fine on Jordan Kuwait Bank,…
United Arab Emirates: Game-Changing Regulation For The UAE's Life Insurance Industry
Last week a consultation paper for a potentially game changing regulation for the UAE's life insurance industry, Circular No.33 of…