Kuwait plans to reconsider policy of providing aid to Arab and developing countries
Kuwait intends to reconsider its policy of providing aid to Arab and developing countries through the Kuwait Fund for Arab…
Regulation, Risk & Compliance
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Dubai’s Virtual Asset Regulatory Authority issues regulations for 2023
Dubai’s Virtual Asset Regulatory Authority (VARA) has issued its latest Virtual Assets and Related Activities Regulations. The regulations showcase…
Lebanon's banks close indefinitely after court ruling criticised
Lebanese banks have begun an open-ended strike, although ATMs will remain open, a development that comes after a meeting of…
Saudi Arabia issues license for first foreign insurance company branch
The Saudi Central Bank announced on Monday the licensing of Cigna Worldwide Insurance Company; the first foreign health insurance company…
Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn
Saudi Arabia and Oman have signed 13 investment memoranda of understanding between the public and private sectors of the two…
Egypt keeps key policy rates unchanged
The Egyptian Monetary Policy Committee Thursday decided to keep the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending…
Crypto exchange Kraken shuts Abu Dhabi office
Cryptocurrency exchange Kraken has shut its Abu Dhabi office less than a year after securing a license in the region,…
UAE regulator overhauls regimes for foreign and domestic funds
The Securities and Commodities Authority (SCA) has overhauled its foreign and domestic funds regimes in the United Arab Emirates (UAE).…
Most GCC central banks raise interest rates tracking US Fed move; Qatar holds
Central banks in the GCC raised interest rates on Wednesday night after the US Federal Open Market Committee (FOMC) delivered…
UAE central Bank raises base rate by 25 basis points
The Central Bank of the UAE has decided to raise the base rate applicable to the overnight deposit facility (ODF)…
GCC banks to refrain from redeeming hybrid capital as volatility rises: S&P Report
Gulf Cooperation Council banks will refrain from redeeming the hybrid capital instruments at the first call date for the next…
UAE employment contract changes: deadline, what is fixed term and all you need to know
The UAE’s amendment to fixed-term employment contracts is mandatory for all private sector companies and must be completed by the…