DIFC Courts is hearing a case against the Middle East branch of auditor Deloitte for allegedly failing to spot a complex money laundering scheme financing drug trafficking and terrorism from Lebanon. But the accusations also raise questions over whether regional operations of the ‘Big Four’ auditors are appropriately monitored.
New technologies are emerging in banking and finance at a rapid pace, as fintech, and blockchain in particular, revolutionise payments. The impact is expected to affect almost every industry in the GCC
With oil prices still faltering around their lowest level in 11 years, many GCC governments are drawing down assets from their once swelling sovereign wealth funds to plug budget deficits. Yet this is having a knock-on impact on global markets