SWITZERLAND - Troubled Faisal Bank up for sale

www.reuters.com - (Reuters) - Faisal Private Bank, struggling since the collapse of property schemes in the Gulf and beyond, is up for sale after failing to raise enough money to meet the Swiss regulator's minimum capital requirements, its chief executive said on Thursday.
Chief Executive Mark Koch told Reuters the Geneva-based bank, which called itself the first Islamic private bank, is talking to three potential suitors. Faisal's parent, Bahrain-based Ithmaar Bank ITHMR.BH, will be selling part or all of its stake, he said.
"We have had to seek a new shareholder to take a majority position, and have identified several interested parties over the last five months," Koch told Reuters. (source)

SWITZERLAND - Dubai Financial Services Authority renews ties with Swiss counterpart

The Dubai Financial Services Authority (DFSA) entered into a Memorandum of Understanding (MoU) with the Swiss Financial Market Supervisory Authority (FINMA). The MoU was signed on behalf of the DFSA by its Chief Executive, Mr Paul M Koster and Professor Anne Héritier Lachat, Chair of the Board of Directors of FINMA, in advance of a meeting of the DFSA Board in Zurich.(source)