Syria to rejoin Arab group at IMF, leaving Russian-led constituency Syria will rejoin the Arab constituency at the International Monetary Fund beginning Nov. 1 and has applied for membership in the EBRD. Syria
Erdogan aide named suspect in Turkey financial scandal Former AKP deputy chairwoman Fatma Betul Sayan Kaya is facing allegations of being linked to a market manipulation scandal. Turkey
Analysis Turkey’s $20B fund crisis: Who profited, and who will pay? Opposition parties are demanding immediate government compensation for affected investors, who face up to a six-month wait as independent banks oversee the asset liquidations. By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Iran’s rial hits record low as pressure on oil exports mounts The rial was trading at more than 2.5 million to the dollar in Tehran's open market on Tuesday. Iran
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
Saudi business group touts plan to improve economic ties with Russia Russia is working to improve relations with Saudi Arabia and wants the kingdom to buy its S-400 missile defense system. Russia
Turkey’s central bank continues window dressing with currency swaps Hit by a foreign reserves drain, Turkey’s central bank eyes fresh currency swap deals, including with the central banks of Azerbaijan, Turkmenistan, Uzbekistan and Libya. Turkey
Saudi Arabia to maintain current debt amount Saudi public debt has increased in recent years with the decline in global oil export revenues. By AL-MONITOR Staff
