Saudi central bank foreign assets shrink $7.4 bln in September
Net foreign assets at Saudi Arabia’s central bank fell by $7.4 billion (Dh27.1 billion) to $546.7 billion in September from…
Regulation, Risk & Compliance
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Redefinition of Movable Pledge Seeks to Boost Collateralization for Commodity Financing
Recent Development Pledge over movable assets (menkul rehni) has long been perceived as an impractical method for collateralization as…
Islamic Development Bank appoints nine banks for five-year sukuk -bankers
The Islamic Development Bank has appointed nine banks to arrange a new Islamic bond issue likely to be in excess…
Egyptian developer Palm Hills expects deal on mega-project by year-end
Egyptian property company Palm Hills expects to sign a revenue-sharing deal with the government this year to develop what would…
IMF's Lagarde tells GCC to keep up fiscal reform
Fiscal reforms that the GCC has been implementing are “impressive” but further adjustments are needed, Christine Lagarde said during a…
UAE bank deposits up by Dh30b
Total bank deposits in the UAE increased by Dh30.2 billion in September 2016 due to an Dh11.4 billion increase in…
Saudi Arabia’s future borrowing will include Islamic bonds, says minister
Saudi Arabia may follow its first international debt issuance with an Islamic bond sale, Finance Minister Ibrahim Al Assaf said,…
UAE Central Bank announces M2 increases to $327 billion in Sept
The UAE Central Bank has announced that the Money Supply aggregate M2 increased by 1.4%, from AED1183.9 billion at the…
ADIA eyes Asia, China opportunities with new Hong Kong office
Abu Dhabi Investment Authority has opened an office in Hong Kong with a view to identifying new opportunities in China…
Kuwait's Gulf Bank seeking regulatory approval for CEO appointment
Kuwait's Gulf Bank is awaiting approval from the central bank to appoint Antoine Jean Daher as chief executive, its said…
Dubai bankruptcy law offers protection to western bosses
The United Arab Emirates has passed a bankruptcy law to try to prevent a repeat of scenes from the financial…
Dubai's Pacific Controls in talks to sell data centre to Etisalat
Dubai technology company Pacific Controls, which is seeking one of the biggest debt restructuring deals in the Gulf since the…