Saturday 27 May 2017

UAE VAT registrations to begin in Q3

The UAE Federal Tax Authority (FTA) will open registration of businesses for VAT (value added tax) with taxable income exceeding the yearly threshold in the third quarter of 2017,  a Ministry of Finance statement said. Registration will be compulsory during the fourth quarte


Zain, Mastercard to launch mobile wallet in Jordan

Top telecom provider Zain has signed a strategic partnership agreement with Mastercard, a leader in global payments industry, to boost digital payment services in Jordan through ‘Zain Cash’ mobile wallet service powered by Mastercard. Aimed at extending the benefits o


CBI partners with Al Jalila Foundation

Commercial Bank International (CBI), a leading bank headquartered in Dubai, UAE has partnered with Al Jalila Foundation, a not-for-profit organisation, to support the foundation’s medical education, research and treatment programmes. Mark Robinson, chief executive officer a


IIFM to expand standardization in Islamic finance

The International Islamic Financial Market (IIFM) has embarked on a three-year strategic plan expand the scope of standardization initiatives in Islamic finance and other services to new segments and areas. The main recommendations as part of the strategy involve a number of init


Emirates NBD launches online marketplace

Emirates NBD, a leading bank in the region, today announced the launch of SkyShopper, an exclusive online marketplace for its customers. The e-commerce platform, a first-of-its-kind offering from a bank in the region, will enable Emirates NBD credit and debit card customers to sh


DFSA launches licence initiative for fintech firms

The Dubai Financial Services Authority (DFSA) has today announced that it will allow financial technology (fintech) firms to apply for a class of financial services licence referred to as an Innovation Testing Licence (ITL).  This initiative signals the next phase of the DFS


Bahrain Investment Market 'attractive option for capital-intensive sectors'

The Bahrain Bourse (BHB) has highlighted how the Bahrain Investment Market (BIM), an equity market for growing business ventures in Bahrain and the wider Mena region, can improve the liquidity of capital-intensive industries and boost foreign investment to the kingdom. This came during


Compareit4me secures $3.5m funding, a leading comparison site in the Middle East, has raised $3.5 million from its existing investors, including STC Ventures, Wamda Capital, Dubai Silicon Oasis Authority and Saned Partners, in its latest phase of funding. The money raised is part of an initial clo


ICBC lists three bonds on Nasdaq Dubai

Nasdaq Dubai, the region’s international financial exchange, welcomed the listing today of three bonds issued by Industrial and Commercial Bank of China Dubai (DIFC) branch.   ICBC was ranked the largest bank in the world by market capitalisation in 2016 by Forbes maga


GCC unified VAT accord come into effect

The Gulf Cooperation Council (GCC) unified selective excise tax and the unified value added tax (VAT) agreements, have come into effect after ratification by the UAE. The General Secretariat of the GCC has received the UAE's ratification documents for the two agreements, a Wa

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