Dana Gas Deems its Own Sukuk Unlawful: Parsing the Dana Gas Statement

Dana Gas Declares its Own Sukuk “Unlawful:” Issues, Questions, and Observations [1]   June 18, 2017 | Author: Hdeel Abdelhady* As discussed briefly in this June 16 MassPoint blog post, Dana Gas PJSC, the Sharjah, UAE-based gas producer, has unilaterally declared “unlawful” sukuk[2] instruments issued by the company in 2013 [3] (through, as issuer, Dana Gas Sukuk Read More …

Dana Gas Declares its Own Sukuk “Unlawful”: Revisiting The Investment Dar Case and “Shari’ah Risk”

Dana Gas Declares its Own Sukuk Unlawful. Move Reminiscent of The Investment Dar Case. June 16, 2017 I Author: Hdeel Abdelhady  Sukuk in Brief News outlets have reported that Dana Gas, the gas producer based in the Emirate of Sharjah in the UAE, this week declared that its own sukuk or Islamic "bonds" are "unlawful" Read More ...

Basel Committee Clarifies Guidance on Countering Money Laundering and Terrorism Financing in Correspondent Banking

Guidelines on Sound management of risks related to money laundering and financing of terrorism Snapshot Update June 7, 2017 Today the Bank for International Settlements' Basel Committee on Banking Supervision (BCBS) issued "Guidelines on Sound management of risks related to money laundering and financing of terrorism" (the "Guidelines"). The Guidelines were issued "to describe how banks Read More ...

Abu Dhabi Global Market to Offer Foundation Vehicle

Abu Dhabi Global Market to Offer Foundation Vehicle, Public Consultation Open Through July 5, 2017 June 1, 2017 Ι Download Update Ι Author: Hdeel Abdelhady Proposed Foundation Regime and Public Consultation Abu Dhabi Global Market (ADGM), the international financial center and free zone located on Al Maryah Island in the UAE capital Abu Dhabi, yesterday opened a Read More ...

U.S. Senators Raise National Security Concerns About Foreign Investment in U.S. Real Estate

U.S. Senators Ask GAO to Assess CFIUS' Approach to Foreign Investment in U.S. Real Estate Senators Seek Review of CFIUS' Capacity and Approach to "Full Range of National Security Issues" Posed by Foreign Investment in U.S. Real Estate On May 17, 2017, U.S. Senators Ron Wyden (D-OR), Claire McCaskill (D-MO), and Sherrod Brown (D-OH)—respectively ranking Read More ...

China’s One Belt One Road Could Disrupt U.S. Legal Dominance

On May 14, 2017, President Xi Jinping of China outlined plans to fund China's One Belt, One Road (OBOR) initiative. If successful, OBOR would alter the global trade landscape and, secondarily, likely curtail the global reach of U.S. law. The potential legal effects of the OBOR and other non-U.S. dollar- and Bretton Woods system-centric trade and Read More ...