Tax havens and tax hells

KPMG's latest Individual Income Tax and Social Security Rate Survey covers 114 countries and finds 10 countries that charge no personal income tax at all.


DIFC Courts wins UAE Customer Service Award

"We are thrilled to be recognised, once again, for our efforts in customer service. We are also very proud of the hard work that Rita and all members of our registry team deliver on a daily basis. "


Arab banks mull repercussions of US FATCA law

The Union of Arab Banks and the World Union of Arab Bankers organized Wednesday here a seminar on the impacts of the US adoption of the Foreign Account Tax Compliance Act (FATCA).


Abu Dhabi bank sues Dubai crown prince's firm

Abu Dhabi Commercial Bank (ADCB) filed the case on Sept. 19, claiming $107.13 million from Zabeel, owned by the crown prince of Dubai, saying it failed to meet repayment obligations.


Ex-Bahrain bank CEO jailed for five years

The bank said in a statement that Al-Refai was found guilty of money laundering, fraud, illegally soliciting donations without prior licensing from Bahraini authorities and transferring the funds to his personal account.


Mashreq clear to pursue case

Mashreq, the UAE bank caught up in the affair, will also get its chance to press for the repayment of cash it has claimed from the Al Gosaibis.