The Financial Restructuring MENA Conference, hosted by Abu Dhabi Global Market (ADGM), under the strategic partnership of Bankruptcy Commission Saudi Arabia, will convene large corporates, family offices, MENA’s largest banks by assets and key stakeholders to address corporate insolvencies and debt restructurings in the wider MENA region from the 15th to 16th March 2023 at the ADGM Authorities Building in Abu Dhabi. With the hike in interest rates by the US Federal Reserve, rising inflation and global macro-economic situation, combined with MENA’s central banks recently ending economic support schemes offered during Covid-19, corporates are increasingly under pressure of the tightening … Continue reading FINANCIAL RESTRUCTURING MENA CONFERENCE TO ADDRESS SUCCESSFUL DEBT RESTRUCTURING AND BUSINESS TURNAROUND

Japan International Cooperation Agency (JICA) and the Bank of Palestine (BOP) signed a USD$30 million Loan agreement for an Additional Tier 1 Investment in the capital of the bankfor the purpose of lending to small and medium enterprise (SME) projects. The loan is perpetual but can be converted into common equity shares should an agreed upon trigger event occur. The instrument will enter into effect later in 2023 and will require approval of the bank’s general assembly. Hashim Shawa, Chairman, Bank of Palestine, said: “This is the first such instrument to be introduced in Palestine as a way for the … Continue reading Japan International Cooperation Agency and Bank of Palestine sign agreement for Additional Tier 1 investment in bank capital

Aafaq Islamic Finance, the leading institution in the financial sector offering Sharia-compliant financial products and services across the UAE and the region signs with PwC’s Academy, the talent and skills development business of PwC Middle East, to deliver a Change Management Training Program. This collaboration is in line with Aafaq’s newly redefined vision, mission and strategy aiming to become the UAE’s favorite destination for digital Islamic Financing. The Leadership development programme, customized for the Aafaq Management team will be delivered by PwC industry experts and training veterans. 3 modules, delivered over 2 months will prepare the participants to lead the internal … Continue reading Aafaq Islamic Finance signs with PwC’s Academy to deliver a Change Management Training Program

The Ministry of Finance (“MoF”) has launched a Corporate Tax Public Awareness Programme following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses. The launch of the programme was announced during a media briefing session held today by the Ministry to leverage the partnership and cooperation with press and media professionals to raise public awareness of corporate tax in the UAE and abroad. The briefing provided media with essential information to enable them to play a central role in disseminating accurate messages and clear understanding of the UAE’s corporate tax regime. The session was led by a … Continue reading UAE Ministry of Finance Launches Corporate Tax Public Awareness Programme