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Thursday 5 - 11 - 2015


Gulf News

Abu Dhabi: The UAE signed an agreement on exchange of information for tax purposes with Norway, the Ministry of Finance said on Wednesday. The agreement was signed by Obaid Humaid Al Tayer, Minister of State for Financial Affairs and Siv Jensen, Norwegian Minister of Finance in the presence of Younis Haji Al Khoori, Undersecretary of MoF, and other officials. Commenting on the agreement Al Tayer stressed the UAE’s commitment to expanding its network of agreements on exchange of information for tax purposes and adopting the best international standards when implementing these agreements.

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The National

ABN Amro has become the latest international bank to face financial penalties of US$640,000 for perceived deficiencies in its anti-money laundering systems in the UAE, receiving fines from both Dubai and Dutch regulators. The Dubai Financial Services Authority (DFSA) announced that it had imposed the fine on the Dutch bank’s branch in the DIFC, after its private banking division contravened rules “requiring it to implement appropriate safeguards to prevent opportunities for money laundering”. The regulator launched the investigation earlier this year in conjunction with the Dutch central bank De Nederlandsche Bank (DNB), following the resignation of six Dubai-based ABN Amro private banking employees for failing to comply with the bank’s internal guidelines.

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Khaleej Times

The UAE is committed to boosting co-operation with the European Union (EU) based on principles of mutual respect and mutual vital interests driven by the UAE's open foreign policy on economic and trade fields, said UAE Minister of Economy Sultan bin Saeed Al Mansouri during a meeting with President of the EU-UAE Parliamentary Friendship Group Antonio Lopez-Isturiz White in Abu Dhabi, The meeting discussed arrangements and agenda of the upcoming visit by a UAE delegation to the European Parliament headquarters in Brussels next week to explore prospects of increasing joint economic, trade and investment co-operation. Exchange of expertise will top the agenda as the UAE is heading towards a knowledge and innovation-based economy.

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