Lebanon arrests fmr economy minister Amin Salam on embezzlement charges The arrest comes nearly a year after the former central bank chief was arrested on charges of embezzlement and money laundering, among other things. Lebanon
EU commission removes UAE, adds Lebanon and Algeria to money laundering list: What to know The changes to the list are still pending approval from EU member states and the European Parliament, likely within the next month. United Arab Emirates
Turkey: $30M credit card scam hits tourists in coastal resort, 20 arrested The alleged ringleader, a hotel owner identified as "H.O.," stole the money by sharing credit card details of tourists checking into the property. Turkey
As Turkey's inflation dips to 35%, will central bank pivot on interest rates? Inflation has slowed to the lowest level since 2021, sparking speculation that the central bank could resume easing monetary policy amid mounting pressure on Turkey's finance chief — but analysts caution against a rush. Turkey
Analysis Gulf wealth funds weather US stock dip, target Amazon, Bitcoin in Q1 By Samuel Wendel In Washington, DC, reporting on regional business and tech
Inflation storm worsens Turkey’s income distribution gap Banks and big companies have benefited from Ankara’s controversial policy to keep interest rates low, while soaring inflation eats into the real income of the wage-earning masses. Turkey
Online shopping in Turkey took off in 2021 The jump coincides with growth in Turkey’s fintech sector, but e-commerce faces some challenges. By Adam Lucente In New York City, reporting on regional news, militancy, climate change
OPEC loans $100 million to Morocco to promote financial inclusivity Financial technology (fintech) is expanding across the Middle East and enabling more people to use financial tools. But some cultural barriers remain. Morocco
Dubai regulator announces increased protection for whistleblowers The UAE is working to increase its financial transparency after being linked to sanctions evasion and the flow of dark money. United Arab Emirates
How religious convictions influence business culture in Egypt Recent fatwas remind Egyptian Muslims that receiving interest on a savings account is permitted, but profiteering from scarce supplies is not. Culture
SWIFT cutoff leaves Egyptian students in Russia empty handed Russia's exclusion from global payments systems has prevented thousands of Egyptian students in the country from receiving money from their families back home. Egypt
Israel’s first digital bank opens for business Newly authorized by the Bank of Israel, the country’s new digital bank One Zero is taking on several hundred customers each week and 75,000 more people interested in the new platform. Israel
Saudi Arabia announces $600 million in new investment from startups, venture capitalist Foreign direct investment in Saudi Arabia slowed later in 2021 after a promising start, and some entities are reluctant to invest there due to the human rights situation. Saudi Arabia
Israel unhappy over unregulated cryptocurrency trade Israeli authorities are demanding the international crypto stock-exchange Binance to explain unregulated digital currency trade in the country. Israel
Lebanese wary of rise of customs duties amid economic crisis The cash-strapped Lebanese government has approved a draft budget law for 2022 that hikes the customs dollar and imposes new duties, as the country battles a severe economic crisis. Lebanon
Standard Chartered eyes churning out profits from Egypt Egyptian authorities are betting on Standard Charter's expertise to boost online banking and stoke competitiveness. Egypt
Qatar National Bank launches environmentally friendly finance project The Doha-based bank will loan cash to the British bank HSBC to be used for green transportation investments. By Al-Monitor Staff
