In Kuwait, IMF's Lagarde touts power of Islamic finance
The head of the International Monetary Fund says Islamic finance offers the possibility of extending banking services to many who…
Regulation, Risk & Compliance
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Deutsche Bank to pay $258m penalty for violating US sanctions
Deutsche Bank Created “OFAC-Safe” Payment Processing Schemes to Evade U.S. Treasury Office of Foreign Asset Control (OFAC) Sanctions Deutsche…
Deloitte transfers key officials to GCC ops
Deloitte recently announced the transfer of a number of partners and senior directors to its Middle East operations in the…
DFSA fines Private Banking division for Anti-Money Laundering Deficiencies
The Dubai Financial Services Authority (DFSA) has imposed a fine of USD 640,000 (AED 2,350,720) on ABN AMRO Bank N.V.…
Qatar regulatory changes present risks and opportunities for CFOs, says ICAEW
Recent legal changes in Qatar must be understood by chief financial officers and finance professionals if businesses are going to…
UAE signs agreement on exchange of information for tax purposes with Norway
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs headed the UAE delegation visiting the Scandinavian countries (Norway,…
Bahrain mulls bonus clamp for corporate heads
Bonuses paid to corporate board heads and members of state-owned companies in Bahrain are to be regulated, a report said.…
BNP Paribas ‘wet ink’ slip-up leads to US$650m suit
BNP Paribas SA is being sued by the trustee of a US$650 million Islamic finance transaction who said the deal…
Kazakh President Ousts Central Bank Head After Tenge Tumble
Kazakhstan’s President Nursultan Nazarbayev replaced central bank governor Kairat Kelimbetov after he devalued the currency twice in his two-year tenure.…
SWIFT announces two senior executive appointments for the Middle East, Turkey and Africa Region
SWIFT, the financial messaging provider for more than 10,800 banks, securities institutions and corporate customers in 200 countries and territories,…
Egypt's Banque Misr to complete $250 mln 3-yr loan in Dec -chairman
Banque Misr expects to complete procedures next month to obtain a $250 million loan of three years duration, using it…
Gulf’s sovereign wealth funds provide the cushion
Evidence shows that the sovereign wealth funds at the disposal of the Gulf states remain as solid as ever. …