aes sets up office in saudi arabia
AES International is set to open an office in Saudi Arabia in the early part of this year, becoming the first expatriate-focused advisory firm to do so.
Middle East
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qatar set to crack down on unlicensed operators
A new law has been introduced in Qatar making it illegal for companies to conduct any financial business in the country without holding a licence from one of the three regulatory bodies, as the authorities clamp down on unauthorised financial activity.
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uae expats may still be charged for bad
Expatriates who bounce cheques in the United Arab Emirates will still risk criminal charges, the Government has said, clarifying a matter that had been unclear in recent days, in the wake of conflicting media reports.
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tunisia financial centre going ahead
A $3bn plan to create what is being billed as North Africa’s first offshore financial centre in Tunisia is still on, with construction work set to begin this month, according to the Bahrain-based investment bank behind the project.
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report uae to limit expat mortgages
The United Arab Emirates Central Bank plans to limit the size of residential real estate mortgages that expatriates living in the UAE may take out to 50% of the value of the property, according to Gulf media reports, which cite anonymous banking and real estate industry sources.
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emirates nbd to buy bnp paribas egypt
Emirates NBD has signed a deal to buy BNP Paribas Egypt for $500m, subject to approval from the Central Bank of Egypt and other approvals in Egypt and the United Arab Emirates.
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credit suisse to shift focus from dubai to qatar
Credit Suisse is reportedly planning to cut its investment banking business in Dubai in order to focus on Qatar and Saudi Arabia.
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leading financial figures acknowledge need
Financial services in the Gulf Cooperation Council countries will benefit from forthcoming changes to regulation, according to leading figures within the industry who recognise there is a need to deal with issues such as trust and product awareness.
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advisers say uae change to 100 ownership
Financial advisers specialising in catering for expatriates in the United Arab Emirates say they would welcome a change to laws that currently prevent them from owning more than 49% of the companies they set up and operate there but are not holding their breath.
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hsbc bank oman seeking buyer for five
HSBC Bank Oman is looking for buyers for five Indian and Pakistani branches of what until recently was known as Oman International Bank (OIB), the Times of Oman has reported, quoting “a senior official” of the bank.
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standard life opens first middle east office
Standard Life has opened an office in Dubai, its first office in the Middle East.
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coutts opens new uae office in difc
Coutts & Co, the London-based private bank and wealth manager, has opened an office in the Dubai International Financial Centre today, 13 years after it first entered the UAE market in Dubai.