Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Google to support AI research and sustainability solutions in the UAE

In collaboration with Mohammed Bin Zayed University of AI, Department of Municipalities and Transport in Abu Dhabi and Ministry of State for Artificial Intelligence, Digital Economy and Remote Work Applications

Wealth & Asset Management

Exclusive survey by Lombard Odier shows high-net-worth Middle East investors’ strong shift to sustainable investment and Islamic Finance

Cybersecurity skills gap contributed to 80% of breaches

Research, Comment and Analysis

UBS Investor Sentiment: Investors Concerned About the War Yet Stay the Course with their Portfolios

Alternative Investments

Study finds that less than 1/3 of IPOs in the GCC succeed

On the Move

Six former Credit Suisse wealth managers join Julius Baer

Baker McKenzie bolsters Middle East banking and finance practice with new partner hire in the UAE

SICO appoints Maryam AlMohri as acting Chief Risk Officer

EFG International names former Credit Suisse employee as Israel CEO

Citi appoints Tahany Taher as UAE Head of Citi Commercial Bank

CBRE appoints Global Workplace Solutions leader for Saudi Arabia

Legal, Tax, Regulation & Compliance

Federal Tax Authority collaborates with Umm Al Quwain Chamber to promote tax culture among business sectors

Saudi Arabia’s climate envoy meets ministers, officials at UN General Assembly

Minister of Finance meets with Governor of Swiss National Bank

Bahrain Central Bank issues new investment licenses to expand scope for family offices

KBBO Group restructuring receives creditor and court approval

Saudi's SAMA licenses two insurance aggregation companies

Retail Banking

Swipe2B’s payment solution processes $2bln of B2B supplier payments in the UAE

KIB promotes financial literacy and banking awareness at Ooredoo headquarters

NBK launches Credit Administration and Credit Operations Certification

First Iraqi Bank Chairman, Kawa Junaid, honored with Best Entrepreneur of the Year Award

Top UAE banks’ combined H1 2023 profit hits $7.4bn

Banque du Caire launches new security control unit

Alternative Investments

UAE and Philippines Strengthen Financial and Investment Ties

PIF supporting real estate renaissance in Saudi Arabia

Saudi holdings of US Treasuries rose for first time in 4 months to $109.2bn

93% of UAE’s small businesses plan to expand globally

Emirati Businessman Alabbar seeks to acquire state-run real estate company in Egypt

ADQ-backed ADC announces landmark SPAC merger deal with United Printing & Publishing

Wealth & Asset Management

Wealth managers urged to meet women clients priorities in MENA region

Bahrain FinTech Bay enters partnership with The Family Office

Bahrain FinTech Bay, The Family Office partner to transform wealth management in GCC

Standard Chartered and Dubai Department of Economy and Tourism sign Cooperation Agreement to promote business opportunities between Hong Kong and Dubai

Citi sees more Family Offices headquartering in the Middle East with significant opportunity for wealth transition to the next generation

GCC onshore asset management base to cross $500 billion by 2026

FinTech

Dubai Ready to Capitalise on Projected 17.2% Global Growth of Fintech Investment, Says DIFC

Software AG spotlights ‘effortless connectivity’ for high-performing enterprises at GITEX Global 2023

StashAway and Lean Technologies lead the way in simplifying investing through payment innovation

Introducing The London Institute of Banking & Finances’ new FinTech glossary

US-based software provider Eton Solutions sets up Middle East HQ in Dubai, targets growing family office market

Digital bank Wio expands service to include retail customers

Islamic Finance

UAE: Bank in Sharjah introduces Screen Reader Integration for its mobile banking app

Saudi Tadawul Group signs MoU with Shanghai Stock Exchange

QIB receives eight regional & country awards for excellence in digital banking from Global Finance Magazine

ADIB enhances mobile app for international money transfers

Bank Nizwa promotes Islamic finance in Salalah through knowledge sessions

Islamic finance in Egyptian market exceeds $19.38bln in 1H 2023: El-Beltagy

Research, Comment and Analysis

New report by FAB, Wealth Briefing shows growing role of high-income women in MENA economies

Turkey's central bank increases interest rate to 30% as country tries to tackle inflation

Moody’s upgrades United Arab Bank’s outlook from ‘stable’ to ‘positive’

Residential sector a promising market

Saudi Arabia’s Financial Wealth Expected To Hit $1.3tn By 2027: BCG

S&P sees high profitability for Kuwaiti banks this year

Investment Bank

Northern Trust Grows Front Office Solutions Business in EMEA Market

Spanish investment bank Alantra hiring for new Gulf-focused office in Dubai

UAE's top banks' combined profits soar 68% on higher rates, business activity

EFG Holding’s Q2 2023 revenue jumps 51% to $844m

Dubai's Shuaa Capital launches Saudi-focused fund

Al Ahly Pharos Investment Banking conclude EGP 15bln for New Urban Communities Authority’s first Securitization Issuance

Covid-19

UAE Central Bank considers continued support for banks and economic recovery beyond mid-2022

Abu Dhabi updates event rules as omicron spreads

How the pandemic has reinvented trade

UAE banks no longer require Covid support, says banking chief

DHA announces reducing quarantine period for certain COVID-19 and close contact cases

Pandemic speeds up UAE’s transition to cashless ecosystem

Planet SOS

Standard Chartered issues first green guarantee for CEEC-SEPEC

UAE banks lead sustainable financing, initiatives ahead of COP28

Emirates NBD Group makes strategic equity investment in sustainability start-up Erguvan

PM launches online platform for climate, environmental investments in Egypt

Arab renewable energy projects attracted $120bln in FDI in 2022

Emirates Development Bank unveils bespoke solar energy financing program