Tag Archives: bank

CRS implementation provoke bank secrecy wreck - OLIESERVE

Will CRS implementation provoke bank secrecy wreck?

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Until quite recently revenue authorities could make an enquiry to a bank only in case they have solid reasons to suspect a person in tax evasion, but the situation has changed completely since 2016. Now banks provide revenue inspectors with information themselves. On January 1, 2016 new Common Reporting Standard was enacted that obliged banks […]

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Emirates NBD bank showing good results

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Emirates NBD, Dubai’s biggest bank, reported a 30 per cent increase in net profit in the first half as the emirate’s economy grows amid regional unrest. But its main shareholder, the indebted Dubai government, continues to raid its piggy bank. In the past six months, Dubai borrowed an extra Dh7bn from the lender, in which […]

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