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Legal,Tax,Compliance

Taylor Wessing celebrates 15 years of legal practice in the UAE
02/23/2012
Originally founded in 1997 as Key & Dixon and rebranded to Taylor Wessing in 2002 following a merger with the European practice, Taylor Wessing (Middle East) LLP is one of the longest established international law firms in the UAE. With its founding p

DIFC aims to double in five years
02/22/2012
Although no financial details were released along with the operating review, Mr Al Awar sought to reassure bondholders that a US$1.25 billion (Dh4.59bn) sukuk repayable in June would be met.

Swiss Re applies for DIFC licence
02/21/2012
This will be a first for the global reinsurer, which has never had an office in the Mena region before.

Swissrisk Financial Systems - ready for FATCA
02/20/2012
In order to assist financial institutions to comply with this new legislation, Swissrisk Financial Systems, a Dion Global Solutions company, has developed ‘FATCA Gateway’

No plan to restrict DIFC Business
02/17/2012
The tax-free DIFC business park is home to the regional offices of banks including Citigroup Inc, Goldman Sachs Group Inc and Morgan Stanley.

DFSA Receives Delegation of Powers from the DIFC Registrar of Companies
02/16/2012
The Registrar continues to have the right to exercise the delegated powers in relation to any matter, whether independent of, or concurrently with, the DFSA.

Former Nakheel CEO awarded $3 mln by DIFC court
02/13/2012
Chris O'Donnell, who left Nakheel last June after five years, had sued for $3.7 million in lost incentives and entitlement fees.

London banker held in Cairo over alleged link to deadly riots
02/07/2012
A Cairo airport official said Yasser el-Mallawany was set to fly to the United Arab Emirates on Sunday, but authorities barred him from leaving Egypt on orders from the country's attorney general.

DFSA Signs Agreement With US Audit Regulator
02/03/2012
The Statement is the first bilateral agreement the DFSA has established with an audit regulator following the change to the Dubai International Financial Centre’s (DIFC) Regulatory law. The change allowed agreements like this to be signed for the fi

QFC Regulatory Authority symposium to address financial risk in the GCC
01/31/2012
Central bankers, regulators and senior risk professionals from across the banking, insurance and asset management sectors in the region met in Doha on 30 January for the GCC Risk Management Symposium, organised by the QFC Regulatory Authority.

DIFC Courts honours GCC justice
01/29/2012
The application for an order in this first international enforcement case was made to the DIFC Courts by the beneficiary of a judgment made by the Ministry of Justice and Islamic Affairs in the Kingdom of Bahrain and it concerned access to accounts at two

Deloitte launches first Middle East Tax Chief Compliance Officer Forum
01/26/2012
The CCO Forum agenda has been specifically tailored to address the unique needs of Middle Eastern institutions, including Islamic banking structures as well as sovereign wealth funds, family offices and takaful insurance.

Top law firm advises HSBC Saudi Arabia on high-profile sukuk
01/25/2012
The Allen & Overy team was led by Riyadh-based managing partner Julian Johansen, who was supported by senior associate Jonathan Ibraaheem Marshall.

U.S. Sanctions key Iranian bank
01/24/2012
In a statement, David Cohen, undersecretary for terrorism and financial intelligence, said, "At a time when banks around the world are cutting off Iran and its currency is depreciating rapidly, today’s action against Bank Tejarat strikes at one

Anti-money laundering role moved to DFSA
01/16/2012
Dubai's financial regulator has had its remit extended to make it responsible for combating money laundering and terrorist financing

Al Ramz Securities obtains license from Securities & Commodities Authority to provide services outside UAE
01/05/2012
As the first local brokerage firm licensed by the Securities and Commodities Authority to provide advisory services to its customers, Al Ramz can help existing and potential customers make sound investment decisions based on scientific grounds and princip

Global law firm advises Emaar on financing deal
01/04/2012
The financing, provided by a club of conventional and Islamic banks, comprised both an Islamic tranche structured on a diminishing musharaka basis and a conventional tranche.

Mystery of the missing $2 million in gold bullion
01/03/2012
The troubled mortgage company is actually two related firms called UM Financial Inc. and UM Capital Inc.

Changes in MENA Tax laws promote better transparency: Ernst & Young
12/29/2011
Ernst & Young MENA Tax Leaders highlighted that tax authorities in the region have begun to depart from earlier accepted and expected tax norms.

When to Go Above The Boss's Head
12/28/2011
His story is exemplary of the whistleblower-like firings and resignations that have graced headlines since the days of Enron.