Bahrain’s GFH completes capital reduction plan, cuts losses
It had received approval from the Bahraini authorities for the step, which reduces the nominal value of its shares by…
Regulation, Risk & Compliance
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Qatar moves to increase business regulation
Qatar has approved draft legislation that increases the regulatory burden on small businesses, weeks after the Gulf state fell 11…
FAAIF Introduces the Dubai World Islamic Finance Arbitration Center in Europe
Camille Paldi, CEO of FAAIF introduces a proposal for a dispute resolution mechanism for the Islamic finance industry, namely, DWIFAC,…
Qatar moves to increase business regulation
Qatar has approved draft legislation that increases the regulatory burden on small businesses, weeks after the Gulf state fell 11…
Commercial Bank of Kuwait appoints Mahfouz as CEO
Kuwait's Central Bank has approved the appointment of Elham Yousri Mahfouz as chief executive officer of Commercial Bank of Kuwait,…
Kuwait Central Bank: No Restrictions On Foreign Derivatives Trading
Kuwaiti banks must comply with regulatory guidelines when trading derivatives but are not otherwise restricted from doing so, the central…
Iraq Islamic banks held back by lack of regulation-experts
Islamic banking operations account for 1.5% of total assets of Iraqi banks and could rise to 6% in the next…
RAK Free Zone Commits To Share Tax Info
The Ministry of Finance of the United Arab Emirates (UAE) announced that it recently signed a memorandum of understanding (MoU)…
Qatar's Ahli Bank deploys SunGard risk reporting tech
Ahli Bank Q.S.C, a leading Qatari bank specializing in retail and corporate banking, has deployed SunGard’s risk solutions to enhance…
Banks behaving badly: can Middle East sector profit?
The reputation of international banking is under scrutiny once again over another scandal, this time in the foreign currency trading…
Urgent need for training bankers in Islamic finance
With Islamic finance (IF) and Islamic financial products (IFP) growing popular worldwide, there is an urgent need for training bankers…
Islamic finance body IIFM launches collateralised murabaha standard
The Bahrain-based International Islamic Financial Market (IIFM) has launched a standard contract template for collateralised murabaha transactions, aiming to boost…