Islamic fintech makes inroads into Europe
Abu Dhabi Global Market (ADGM) has announced two new partnerships with non-profit associations in London and Zurich aimed at strengthening its position as a global fintech hub for the Middle East.
Middle East
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Licensed companies in Dubai’s financial centre up 6.2% in 1H17
The Dubai International Financial Centre (DIFC) has reported a 6.2% growth in the number of active licensed companies to 1,750 during the first six months of 2017.
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Abu Dhabi and Kenya forge deal on African fintech
Abu Dhabi Global Market (ADGM) has signed a cooperation agreement with Kenya’s Capital Markets Authority (CMA) for the joint development of projects and initiatives in the fintech field.
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UAE takes a major step towards introduction of VAT in 2018
The United Arab Emirates has passed a law which paves the way for the introduction of a new 5% value added tax (VAT) on goods and services from 1 January 2018.
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UAE regulator ups pressure on advisers over fees and capital
The UAE Insurance Authority has announced plans to tighten capital requirements for licenced brokers and ensure full disclosure of all commissions ahead of its move to restrict upfront fees.
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Abu Dhabi inks two partnerships with Malaysian regulators
The financial regulator of the Abu Dhabi Global Market (ADGM) has signed partnership agreements with its two financial services counterparts based in Malaysia’s financial hub, Labuan.
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DIFC’s Chris Divito to head up FPI in the Middle East
Chris Divito, the former head of Standard Life in the Middle East and currently working at the DIFC, is to take over from Marcus Gent as managing director of Friends Provident International in Dubai.
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Hansard grows despite dip in Middle East & Africa activity
Specialist long-term savings provider Hansard Global has continued to grow on a year-on-year basis despite a halt in new business expansion from the Middle East and Africa region in the fourth quarter.
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No more extensions to Saudi expat amnesty
Undocumented expats in Saudi Arabia hoping for another amnesty to allow them to leave the Kingdom without prosecution are set for disappointment after it was confirmed that there will be no further extensions.
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Zurich Int’l Life adds simplified investment plan to UAE range
Zurich International Life has launched Simple Wealth, a new simplified investment plan that the company says provides an easy way for consumers in the United Arab Emirates to manage and grow their wealth.
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International Adviser magazine goes digital
After 12 years of printing monthly copies, International Adviser is going digital from September. This exciting development will allow us to shape our content differently as the markets around the world evolve.
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Epic Saudi fraud trial coming to a close in Cayman court
One of the biggest trials in Cayman Islands history involving the Middle East’s longest-running business feud is coming to an end after a year in court.