Shrink to fit – Tackling the new regulatory climate in the UAE
With the Emirates Insurance Authority rolling out a host of regulations last month, it seems inevitable that the market will…
Regulation, Risk & Compliance
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Iraq investigates private banks for money laundering
A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that…
Turkey’s State-Run Halkbank Applies to Start Islamic Bank Unit
Turkey’s largest publicly listed state lender applied for permission to start an Islamic banking affiliate, as the government pushes to…
Bahrain to develop central shariah board for Islamic banks
Bahrain's central bank is setting up a central sharia board to help oversee Islamic finance products in the kingdom and…
Saudi regulator suspends Deloitte from auditing listed companies
Saudi Arabia’s market regulator has suspended the local unit of accountancy firm Deloitte & Touche from doing auditing work for…
UAE May Create Body To Monitor FX Peg, No Policy Change Likely
An advisory body to the United Arab Emirates government has suggested that the central bank review the country’s currency peg…
Bank Leumi Said to Be Near $400 Million US Tax Settlement
Bank Leumi Le Israel (LUMI) BM is close to a $400 million settlement of federal and state investigations into whether…
DIFC Courts, Kenyan judiciary sign enforcement guide
The signing of the DIFC Courts’ first Memorandum of Guidance (MoG) with an African country took place in the presence…
New opportunities open for Islamic banking in Bahrain
With a strong and well established financial services sector, Bahrain’s role in expanding the global reach of sharia-compliant financing looks…
HSBC to refund UAE, Bahrain, Oman customers for excessive fees
HSBC will refund customers across five countries in the Middle East and North Africa for charging them excessive foreign currency…
Investors respond positively to sukuk bond in Dubai, Abu Dhabi
Investors conferences on sukuk bonds were held on Monday with the inaugural conference held in Abu Dhabi in the morning…
UAE banks close to resolving credit bureau liability issue
Authorities see the recently-opened Al Etihad Credit Bureau as a safeguard against a repeat of the credit bubble that undermined…