Exiled Yemen government risks humanitarian catastrophe to cut off central bank
In Yemen’s war of attrition, the Saudi-backed exiled government has now decided that the central bank is an easier target…
Regulation, Risk & Compliance
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Lebanese Canadian Bank shareholders sue Deloitte for failing to flag up money laundering
A Dubai-based investment group is suing the Middle Eastern arm of Deloitte and Touche after the accounting firm failed to…
NBK receives PCI-DSS Certification for Credit Card Fraud Prevention
National Bank of Kuwait has received the Payment Card Industry – Data Security Standards Certification from the qualified security assessors,…
Knightsbridge branch of Al Rayan Bank sees brisk business despite Brexit
Notwithstanding the Brexit impact, Al Rayan Bank’s (UK) Knightsbridge branch has witnessed unprecedented growth in the private client business with…
Emirates NBD’s Islamic arm cuts over 100 jobs
Emirates Islamic, the sharia-compliant arm of Dubai’s largest bank Emirates NBD, has laid off more than 100 people as part…
Business Outlook: Saudi Market and Investors
Stock markets around the world crashed in 2008 and billions of dollars were lost, but most of the world’s major…
UAE to provide Egypt central bank with 6-year, $1 bln deposit
The United Arab Emirates has agreed to provide Egypt's central bank with a $1 billion deposit for a duration of…
GFH considers stake in Bahrain’s Bank Al Khair
The Bahrain Islamic investment group GFH said on Monday it had signed a preliminary memorandum of understanding for a potential…
DFSA Strengthens Regulatory Co-operation in the UAE
The Dubai Financial Services Authority (DFSA) today entered into a Memorandum of Understanding (MoU) with the Financial Services Regulatory Authority…
CMA mandates transition to IFRS of listed companies
The Saudi Capital Market Authority Authority announced the Board of Commissioners resolution which obligates listed entities to adopt the International…
UAE bank deposits fall as Brexit vote spurs withdrawals among European customers
Total bank deposits fell by Dh7 billion last month, mainly due to a drop in non-resident money, said the UAE…
ETF take-up rockets as fund managers favour low-cost liquidity
In the seven years to the end of 2015, global use of ETFs by investment managers increased at a compound…