Dubai’s International Financial Centre signs agreement with Israel’s Bank Hapoalim

Dubai’s International Financial Centre signs agreement with Israel’s Bank Hapoalim
Dubai International Financial Centre (DIFC) signed an agreement with one of Israel’s biggest banks, Dubai Media Office announced on Saturday. (File/AFP)
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Updated 21 November 2020

Dubai’s International Financial Centre signs agreement with Israel’s Bank Hapoalim

Dubai’s International Financial Centre signs agreement with Israel’s Bank Hapoalim
  • The agreement will allow Bank Hapoalim to become part of DIFC’s network
  • Investment and FinTech experts from the bank will be invited to participate in events organized by DIFC

DUBAI: Dubai International Financial Centre (DIFC) signed an agreement with one of Israel’s biggest banks, Dubai Media Office announced on Saturday.

The agreement will allow Bank Hapoalim to become part of DIFC’s network and provide it with access to opportunities in the Middle East, Africa and South Asia, the report added.

“We hope to serve, extend and strengthen the financial relationship between our two countries. It will provide Israeli FinTech entrepreneurs with a gateway to the dynamic and vibrant Dubai ecosystem, and help foster cross-border innovation. It is an honor to be the first Israeli bank to construct this important bridge for innovation,” CEO of Bank Hapoalim Dov Kotler said.

Investment and FinTech experts from the bank will be invited to participate in events organized by DIFC, such as the FinTech Hive Investor Day.

“Our partnership provides Bank Hapoalim with access to the most developed, broad and deep financial ecosystem in the region, allowing them to capitalize on the most lucrative banking, capital markets, asset management, innovation and FinTech opportunities available,” Chief Executive Officer of DIFC Arif Amiri said.


Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth is also illegal. (File/Shutterstock)
Updated 04 December 2020

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Arabia’s Public Prosecution affirmed that it is prohibited by law to intentionally take any action that creates a false or misleading impression about the capital market, prices, or value of any security or to induce third parties to buy, sell, or subscribe to this security.

It stated in a tweet that this is one of the serious crimes that require arrest, according to the Public Prosecutor's decision No. (1) dated 1/1/1442.

The following actions are considered fraudulent:

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth.

Performing a series of transactions on a specific security to influence on a particular stock.

Conducting a series of trades on a specific security, such as buying and/or selling a security, with the aim of price stabilization.

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