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

Oman’s foreign reserves increase by 9% in May

This growth in liquidity suggests a vibrant and expanding economic activity, with more funds circulating within the economy.

Saudi banks’ money supply increases 9% in June to reach $773bn

These represented the second-largest portion of the total money supply

The state of Saudi Arabia's economy mid-way 2024

A rundown on some of the key takeaways from the in-depth economic report

AlShamlan: KFH Achieves Best ESG Risk Rating among Kuwaiti Banks

He emphasized that investors are increasingly drawn to companies that incorporate sustainability standards into their operations.

Moody’s affirms Islamic Development Bank’s AAA rating

Founded in 1973 and headquartered in Jeddah, IsDB is a multilateral development finance institution focused on Islamic finance for infrastructure development.

The Henley Passport Index

2024 Global Ranking

GCC banks show strong appetite for regional expansion: Fitch

The GCC is a political and economic alliance that includes Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, Oman and Bahrain.

Egypt: Banks, financing companies inject $1.45bln into low-income housing initiative by June 2024

The Central Bank of Egypt launched the mortgage finance initiative in February 2014, offering subsidized declining interest rates ranging from 5% to 7% for low and middle-income groups

McKinsey: GCC banks outperform their global counterparts

All GCC exchange rates are either directly or indirectly pegged to the US dollar, and regional interest rates thus closely track movements in US rates.

Top stocks in Q2 2024: UAE retail investors choose AI over Big Tech

Amongst the most held stocks, Q2 saw a significant shift in the rankings, with NVIDIA rising to become the second-most popular stock on the eToro platform, behind only Tesla

Saudi Arabia’s big three banks continue their rankings ascent

Saudi Alawwal Bank tops performance table

Dubai's high-end property sales undented by drop in listings, consultancy says

A total of 190 homes worth an overall $3.2 billion were sold in the six months

Qatar Central Bank foreign reserves surge 3.88% in June 2024

Balances with foreign banks declined by nearly QR 3.633 billion

Fitch affirms Commercial Bank’s rating at ‘A’ with stable outlook

The rating reflects potential support from the Qatari authorities as reflected in its Government Support Rating of ‘a’.

CEOs Consultative Council of UAE Banks Federation holds second meeting of 2024

Participants at the meeting reviewed the steps taken by the Federation in the first half of the year to implement its strategy, plans and programmes, as well as the significant achievements made during this period to keep pace with the rapid developments

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