The country's net foreign assets, swelled by high oil prices, are currently worth about $730 billion, and have been growing at an annual rate of about 9 percent.
Fraudulent financial and banking practices are growing worldwide, posing a real threat to electronic financial dealings, said Talaat Hafiz, secretary general of the media and awareness committee for Saudi banks
GFH Capital, the Dubai-based subsidiary of Bahrain's Gulf Finance House, is in the midst of a legal battle against its former deputy chief executive David Haigh who it accuses of embezzling $5 million from the company, it has been revealed.
Kuwait's government on Wednesday disputed allegations by the opposition that tens of billions of dollars were stolen from public funds by former senior officials, saying documents supporting the claims are fake.
Kuwait’s government yesterday disputed allegations by the opposition that tens of billions of dollars were stolen from public funds by former senior officials, saying documents supporting the claims are fake.
The agreement is also aimed at protecting the society from improper commercial practices, according to Saud Salim Al Akroubi, Head of International Relations at FCA.
The central bank of the United Arab Emirates plans to introduce new rules on liquidity and begin consulting with banks on a new capital regime which is in line with the Basel III framework in the second half of 2014, it said on Sunday.
Another of the Qatari bid committee’s legal advisers, magic circle firm Clifford Chance, is not understood to be advising on the recent claims
Its rules detail the treatment of subsidiaries when calculating a bank's capital adequacy requirements and explain the use of subordinated debt, which can count towards Tier 1 core or Tier 2 supplementary capital.
The lawsuit, Arab Bank v. Linde, which was filed a decade ago, accuses Arab Bank