09/06/2012

Hundreds swindled in Dubai property scam

“I’m going to lose my apartment and AED100,000 (US$27,200),” said a British expat who renewed her contract for a property in the Fairways in June but has since been unable to contact the company.

09/04/2012

Foreign banks in Iran face risk of US penalties

The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.

08/28/2012

HSBC Investigated for Money Laundering

Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.

08/28/2012

US regulations probed at forum

The event was organised by the Bahrain Association of Banks and accountancy practice KPMG Fakhro to update the delegates on the best approach for Bahrain.

08/28/2012

Barclays Said to Face Possible U.K. SFO Probe Over Qatar Fees

The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.

08/27/2012

Janata Bank recalls UAE chief

The bank's Dubai branch faces charges of fraud worth $1.3 million; a BB team visits Dubai to further probe the scam

08/21/2012

Iran looks to Armenia to skirt bank sanctions

With international sanctions squeezing Iran, the Islamic Republic is seeking to expand its banking foothold in the Caucasus nation of Armenia to make up for difficulties in countries it used to rely on to do business, according to diplomats and documents

08/16/2012

Al Mulla calls for overhaul of DFSA, Nasdaq Dubai

In a comment piece in the Financial Times on the decision to split Dubai International Financial Centre Authority (DIFCA) - which governs the financial free zone - into two entities, Dr Habib Al Mulla, said a similar overhaul is needed at Nasdaq Dubai and

08/15/2012

HSBC dealings in Middle East in spotlight

But the 335-page investigative report into money laundering violations contained a trove of information about HSBC’s dealings in the Middle East, including Iran and Syria.

08/13/2012

Basel III Arrives Early For UAE

Central Bank orders regional banks to meet liquidity requirements from January 2013, in preparation for Basel.

08/12/2012

DIFC Courts launches an appeal to all lawyers in the UAE

The DIFC Courts, the English language, common law judicial system based in Dubai, has launched an appeal to all lawyers in the UAE to lend their professional knowledge to help support the Courts' Pro Bono Clinic initiative and servethose in need.

08/09/2012

Dubai investigates Standard Chartered

The move follows allegations the UK bank concealed as much as US$250 billion (Dh918.26bn) in transactions with Iran that violated US sanctions.