DFSA Censures MAS Clearsight and Directs it to Compensate Investors
The Dubai Financial Services Authority (DFSA) has censured MAS Clearsight Limited (MAS) and directed MAS to pay compensation of USD3,200,000…
Regulation, Risk & Compliance
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QFC Regulatory Authority Issues New Prudential Rules for Islamic Banking and Financial Institutions and Revised Conduct of Business Rules
The Qatar Financial Centre Regulatory Authority introduced new Islamic Banking Business Prudential Rules 2015 and a revised version of the…
Bahrain Islamic Bank appoints a new Chief Risk Officer
Bahrain Islamic Bank announces that it has appointment Fahim Ahmed, as the Bank's new Chief Risk Officer effective 01 December,…
Turkey establishes interest-free finance board
The Prime Ministry's circular on establishing an Interest-Free Finance Coordination Board has been published in the Official Bulletin. …
IIFM announces new standards to develop Islamic finance
A leading expert called on the Islamic finance industry to expand the range of Islamic products, develop IT solutions, establish…
Saudi businesses need to prepare for new financial reporting standards
The completion of two major projects to update financial reporting will mean challenges for users of International Financial Reporting Standards…
Standard Chartered hosts its first Financial Crime Compliance Academy workshop in the Middle East
Following the successful launch of its Financial Crime Compliance Academy earlier this year, Standard Chartered hosted its first Financial…
EU and Turkey launch new stage of membership talks
Turkey and the European Union officially launched a new stage in Ankara's long-stalled membership bid on Monday as part of…
Government to Force Israel's Banks to Sell Credit Card Businesses
An Israeli government committee unveiled plans on Monday to force the country's two largest banks to sell their credit card…
UAE Central Bank to start Basel III implementation process
The UAE Central Bank is to start engaging with banks in the country for full compliance with the Basel III…
Regulation hits UAE banks' dealings with US banks
The United Arab Emirates wants authorities in the United States to clarify regulations for U.S. banks doing business with UAE…
Financial position of banks' look sound: Central Bank of Oman chief
All banking institutions in the Sultanate are in sound financial positions in line with international standards, said Hamood bin Sangour…