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Rising rents in the Dubai International Finance Centre (DIFC) and the cost of regulatory compliance maybe to blame for the sudden spate of departures from the free zone by three financial service providers.
Kuwait's Ministry of Commerce and Industry has rejected a proposal to establish a separate body to oversee the insurance industry, despite wide-sweeping reforms to sector’s capital adequacy requirements.
The Abu Dhabi Global Market (ADGM), the new international financial centre in the capital of the UAE, said it has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations.
Economic activity across the six nations of the Gulf Cooperation Council (GCC) region is expected to slow sharply this year, according to the latest regional economic outlook from the International Monetary Fund (IMF).
US-headquartered SEI is to close its office in the Dubai International Financial Centre next month and will service its Middle East clients from London.
Bouncing cheques will remain a criminal offence in the UAE despite indications that the region’s new bankruptcy law would remove the threat of jail, a senior Emirati lawyer has said.
Specialist expat financial advisory group Forth Capital has decided to withdraw from the United Arab Emirates (UAE) and close its business in the Dubai International Financial Centre.
Investors based in the UAE are expecting average investment returns of 7.3% in 2016, up sharply from the 3.5% received in 2015, according to a new survey by Old Mutual International and Quilter Cheviot.
Adam Rix, director - third party distribution for the Middle East at European asset management giant Amundi, is to leave the company.
Novia Global, the international platform arm of UK-based Novia Financial, has started doing business in the Middle East.
The Dubai Financial Services Authority (DFSA) has cracked down on an international insurance company based in the DIFC for selling products to customers outside the centre.
Life companies are calling for more clarity on how new laws covering mutual funds offered for sale within their products in the UAE will work in practice, while asset managers have begun the process of deciding which products to offer.
The Guernsey Financial Services Commission (GFSC) has signed a memorandum of understanding with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
New mutual fund charges and regulations that could have a dramatic effect on the number of funds offered on international platforms and within life insurance wrappers have become law in the United Arab Emirates.
The Financial Services Regulatory Authority (FRSA) has issued an alert relating to claims made by Rothschild Gulf Investment Bank (RGIM) about operating in the Abu Dhabi Global Market (ADGM).
Israel’s high court has rejected a lawsuit to block the implementation of America’s foreign account tax compliance act (Fatca) despite claims that it violates the country’s basic law on human dignity and liberty.
Islamic insurance company earnings in Gulf Cooperation Council (GCC) states are relatively weak and unevenly distributed, hampered by an overcrowded market and a focus on low-margin retail products, according to S&P Global Ratings.
The United Arab Emirates (UAE) is to get a new bankruptcy law for businesses, including a new regulatory body for financial restructuring, which is designed in part to remove the threat of jail for executives of companies facing financial distress.
The Dubai International Financial Centre, an independently regulated free zone in the UAE, has seen strong growth in business tenants and the size of its workforce for the first six months of 2016.
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