* Orange SA is collaborating on a venture with Ivory Coast's NSIA Participations SA
* Willis Towers Watson PLC announced plans to move its businesses in 14 African countries including Algeria, Niger, and Togo to a new ownership structure and secure strategic partnerships or correspondent relationships with the new owners. The U.K. insurance broker also disclosed that it recently divested its Morocco and Mauritania operations, and that it now has correspondent relationships, run by existing management teams, in the two countries.
* Doha Insurance Group QPSC
GULF COOPERATION COUNCIL
* The Dubai Financial Services Authority has interviewed Abraaj Group Ltd.
* UAE Banks Federation Chairman Abdul Aziz Al Ghurair said local banks have imposed a 5% VAT on all fees beginning July 1, Al Bayan reported. He added that the central bank has approved banks' request to increase 43 types of fees by up to 5%.
* Fitch Ratings affirmed Sharjah Islamic Bank PJSC's BBB+/F2 long- and short-term issuer default ratings, with a stable outlook on the long-term ratings.
* The board of Riyad Bank
* The Saudi Arabian Monetary Authority has amended the unified motor insurance policy, obliging insurers to inform clients about the status of their claims in less than 3 days from submitting the request, Al Jazira reported. Insurer will also be required to close the complaint within 15 days. The new regulation will take effect in early September.
* Capital Intelligence Ratings affirmed Arab National Bank's financial strength rating at A with a stable outlook.
REST OF MIDDLE EAST AND NORTH AFRICA
* EU lawmakers gave approval for the European Investment Bank to do business in Iran as part of efforts to save the nuclear deal with the country, after U.S. President Donald Trump's decision to withdraw from the deal and reinstate sanctions on the Middle Eastern nation, Reuters reported.
* Morocco's House of Representatives has approved a draft law seeking to revise the status of Bank Al-Maghrib
EAST AND WEST AFRICA
* Moody's said it expects Fidelity Bank PLC, Union Bank of Nigeria PLC, First City Monument Bank Ltd., Sterling Bank Plc, and Diamond Bank PLC
* Ivory Coast Prime Minister Amadou Gon Coulibaly was reappointed to his post to form a new government, after President Alassane Ouattara dissolved the previous one amid infighting within the ruling coalition, Reuters wrote.
* Coris Bank International Togo named Alassane Kaboré its new general manager, replacing Sanou Seydou, Financial Afrik reported. Kaboré was previously director of risks at Coris Bank Mali.
CENTRAL AND SOUTHERN AFRICA
* Capitec Bank Holdings Ltd.
* The South African Reserve Bank confirmed that it has secured a guarantee from the National Treasury of up to 100,000 rand per VBS Mutual Bank retail depositor. Details on the repayment of retail deposits will be announced July 9.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: IDBI Federal Life stake sale in limbo; South Korea to fine Samsung Securities
Europe: Sabadell sells bad loans; 2 Swiss banks to merge; Slovakia lifts buffer rate
Latin America: BB Seguridade replaces CEO; Peru establishing new agriculture fund
Deza Mones, Henni Abdelghani, Sophie Davies and Mariana Aldano contributed to this report.
The Daily Dose Middle East and Africa has an editorial deadline of 5 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.