Plans to introduce new securities law to safeguard investors in Oman
The Capital Market Authority (CMA) in Oman has released a draft new securities law to stakeholders for comment. It is understood the new laws will give the CMA powers to safeguard investor interests and facilitate the introduction of innovative collective investment schemes (which are presently scarce in Oman). The law aims to create a concise and modern framework to encourage economic growth in conformance with international standards.
Israeli prime minister questioned over corruption allegations
Israel's Prime Minister, Benjamin Netanyahu, has been questioned over allegations that he accepted "improper gifts" to the value of thousands of dollars from businessmen. Mr Netanyahu has strongly denied any wrongdoing.
Egyptian judge found dead in cell amid corruption charges
A senior Egyptian judge has reportedly taken his own life in a police cell, following his arrest on corruption charges. Wael Shalaby was a deputy chief justice in Egypt's administrative court system and was arrested for allegedly taking a bribe. He was also the secretary general of the Council of State, an organisation headed above the administrative courts in Egypt. His arrest came days after the Council's purchasing manager, Gamal al-Din al-Labban, was also arrested and charged with corruption.
Notary president and other officials suspended over SR400m forged deed
A notary president, two notaries and an employee have been suspended by the Saudi Justice Ministry over the issuing of forged deeds. The forged deed came to light when the Ministry went through its process of verifying the title deed authenticity and checking over the notary work. The land deed, valued at more than SR 400 million (USD107 million), was not officially recorded in the court and the original deeds could not be found. The suspects have been ordered to stand trial.