Financial Regulatory Forum

Gulf BlackBerry row lifts veil on state cyberspies

By Peter Apps, Political Risk Correspondent

LONDON, Aug 6 (Reuters) – The arguments over whether several emerging nations can effectively hack BlackBerry devices give a rare glimpse of the shadowy world of state electronic surveillance already changing politics, espionage and business.

Saudi Arabia and the United Arab Emirates are both in dispute with Canadian smartphone maker Research In Motion, saying they want access to the encrypted phones to monitor security threats. Both are threatening to block its messenger function.

(more…)

Saudi central bank says system safe from Saad, Algosaibi problems

Muhammad al-Jasser, governor of the Saudi Arabian Monetary Agency (SAMA), gestures during a news conference in Riyadh September 1, 2009. Saudi Arabia's central bank sees no risk to the country's banking system from two troubled conglomerates but it has set up a panel to examine the two and take appropriate action, the bank's governor said on Tuesday.    REUTERS/Fahad Shadeed    (SAUDI ARABIA POLITICS BUSINESS) By Souhail Karam
RIYADH, Sept 1 (Reuters) – The head of the Saudi central bank said on Tuesday the financial troubles of two private conglomerates could hurt the profits of the banks involved but posed no systemic risk to the nation’s banking system.

(more…)

Saudi bourse’s jail action seen too little, too late

By Souhail Karam
RIYADH, Aug 24 (Reuters) – Saudi Arabia’s move to issue a jail sentence in absentia for insider trading does little to improve transparency on the Arab world’s biggest bourse and may have come too late to prevent further abuses, analysts said on Monday.

(more…)

Saudi court gives first jail term for stock market violation

By Souhail Karam
RIYADH, Aug 18 (Reuters) – A Saudi financial court has taken the unprecedented step of slapping a jail sentence on a violator of stock market rules, after the chairman of Bishah Agricultural Development Co was found guilty of insider trading.

(more…)

  •