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

UAE Central Bank lowers interest rates following US Federal Reserve move

Regulator cuts base rate for overnight deposit facility by 25 basis points

Bahrain's central bank cuts overnight deposit rate by 25 bps, statement says

The move followed the Federal Reserve's decision to cut interest rates by 25 bps.

Simplified tax system for small projects in place: Egyptian Tax Authority

This initiative aims to streamline procedures, resolve tax disputes, and simplify compliance

Strategic partnership between Times Developments and ABB announced

Times Developments has announced a strategic partnership with ABB, a global leader in electrical and automation solutions, to provide advanced electrical systems and supply the latest medium-voltage devices for its flagship projects, Avelin and Aster. T

KPMG in Qatar hosts annual IFRS Update Workshop 2024

This flagship event attracted a record 230 participants

Egypt pound breaches 50 to the dollar, Central Bank says

Under the IMF agreement, Egypt pledged to let supply and demand determine the currency’s value.

Praxis expands UAE offering with Sandshore acquisition

The acquisition of Sandshore builds our expertise further through the addition of five highly qualified and experienced professionals who take the same meticulous approach to client service as our existing team.

Central Bank of Egypt joins the Pan-African Payment and Settlement System “PAPSS”

The New System Boosts Intra-African Trade and Eases the Pressure on Demands for Foreign Currency

Social Development Bank signs an MoU to renew partnership with UNCTAD’s empretec program in Saudi Arabia

The Empretec program focuses on developing the entrepreneurial capabilities of business owners through innovative training workshops in Saudi Arabia

Qatar Central Bank issues digital banks regulatory framework

These banks stand out by providing comprehensive services through online platforms and mobile applications at all times

New regulations reinforce Dubai’s progressive virtual assets landscape

These marketing regulations extend beyond domestic firms in the UAE to include foreign firms targeting individuals and entities within Dubai.

Saudi Arabia approves FY2025 budget, forecasts $27bn deficit amid expansionary spending

The figures align with projections from the ministry’s pre-budget statement in September

ADGM’s Registration Authority fines Avante Limited and Director a total of USD 32,300

Avante is also required to pay an additional USD 10,000 towards the RA’s investigation costs

Saudi Arabia looks to ‘6G’ age with new regulations

Approval of the regulations comes ahead of the International Forum on Connecting the World from the Skies

Bankruptcy law change lures private credit to UAE

Private credit is non-bank lending to businesses, by private investors.

Qatar's Central Bank Assets Grow by 4 Percent

In addition, deposits and special drawing rights decreased by 1.83% to 4.84 billion riyals

BlackRock Gets Abu Dhabi License Weeks After Nod for Saudi HQ

“Its strategic location, proactive government policies, and commitment to sustainable growth make it an ideal location for capital markets.”

Mbank signs an MoU with Meydan Management Services

Entrepreneurs will be given the possibility to open a fully digital business bank account

Qatar Central Bank organises capacity-building programme with IILM

He added that the program would help enhance the understanding of the role of Islamic financial markets and instruments, explore emerging opportunities, and share best practices that can help achieve strategic objectives.

FAB’s EOSB funds secure initial approval from MOHRE, SCA

FAB’s EOSB Funds also simplify the administrative process for employers, enabling them to register through the bank’s EOSB online portal

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