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The Islamic Republic of Iran has had to deal with financial sanctions imposed by the United States following the revolution in 1979, and then ramped up during the Bill Clinton and George W Bush administrations. But it was the multilateral financial sanctions imposed by United Nations Security Council resolutions (UNSCRs) and the European Union (EU) from 2007 onwards, and particularly in 2011, that hit Iran even harder, further narrowing an already limited window to operate financially in international terms.…

Changing management styles is key the success of corporate gender diversity initiatives in the Gulf region and elsewhere, participants of a recent networking breakfast hosted by the Association of Chartered Certified Accountants (ACCA) have concurred.

Entitled ‘Lead the Change: increasing gender diversity to boost performance’, the event was held on February 7 at the Shangri-La Dubai hotel and was attended by more than 60 CFOs and senior finance professionals.…

Following the international agreement limiting its nuclear power ambitions, Iran is essentially open for business. However, certain US sanctions remain in place, adding to Western banks’ caution in dealing with Iran, long a pariah to global investors and bankers. Indeed, the biggest challenge will be reintegrating Iran’s financial institutions back into the international system after their years’ long experience of dealing with, and circumventing, sanctions.…

The professional coaching sector is booming in the Middle East. Over the past decade the region has become increasingly interconnected in the global business system, and accordingly adopted international standards. This has driven the need for professional coaching and training. But with coaching modelled on US and European norms, there is a need for greater localisation, while more coaching accreditation is needed to develop further confidence in the fledgling sector.…

Natural gas has played an increasing part in meeting the Middle East’s domestic energy needs. Its role and significance vary for each country, but demand is driven mainly by gas-intensive industries and electricity generation, which is strongly seasonal, peaking during the summer due to air conditioning loads.…

MALAYSIA’S Audit Oversight Board (AOB) has revoked the registration of an audit firm for the first time since the regulator was established by the Securities Commission Malaysia in 2010.

It has scrapped the registration of Wong Weng Foo & Co, managing partner, Wong Weng Foo and partner Abdul Halim Husin, from December 2.…

THE MIDDLE Eastern halal meat market is anticipating significant growth in the next few years, driven by rising populations and rising consumer awareness about food content. However, the lack of a common global halal standard is hindering the market’s potential, given that the region is heavily dependent on imports from non-Muslim countries.…

Of all the countries that made up the old Soviet Union, the central Asian republics have proved the slowest to open up to the outside world. For the personal care product industry, this represents opportunities, but also significant hurdles and barriers.…

There were high hopes that Egypt was embarking on a new clean financial era following mass protests in January 2011 that ousted President Hosni Mubarak. Popular calls for an end to the corruption and cronyism that had characterised Mubarak’s 30 year rule appeared to be heeded.…

PAKISTAN has been improving its anti-money laundering and combating the financing of terrorism (AML/CFT) regime according to international watchdogs, while its military takes increasingly tough action against hardline Islamist groups.
For instance, Pakistan has drawn up a 20-point National Action Plan (NAP), agreed upon by Pakistan’s political and military leadership to fight terrorism; this has helped focus further attention on the need to tackle money laundering and terror financing as part of a comprehensive law-and-order strategy.…