United Arab Bank the fastest growing bank in the UAE, has signed an agreement with the Nationals' Defaulted Debts Settlement Fund to settle the debts of Emirati customers incapable of fulfilling their liabilities to the bank.
Leading UAE law firm Baker & McKenzie Habib Al Mulla has advised Hasan Ismaik, the former CEO of the Dubai-based and DFM-listed construction firm, Arabtec, on the sale of a significant stake in Arabtec to the Abu Dhabi state fund, Aabar Investments PJ
H.E. Abdul-Aziz Al-Ghurair, CEO of Mashreq, commented, “We are proud to be the first Bank in the Middle East to establish this Corporate Alliance with ACFE.
The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review and the Legal 500.
The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions has issued two new shariah standards, revised three others and said it will review at least five more in coming months.