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

UAE Central Bank penalizes finance firm Dh600,000 for regulatory violations

Firm failed to comply with Market Conduct, Consumer Protection Regulations and Standards

17% of Jordanian programme completed to boost digital services transformation — WB

The programme is financed through two main components: a $321 million World Bank loan and a $29 million trust fund grant

Egypt’s net international reserves hit record $49.04bn in July: CBE

This marks the highest level of foreign currency reserves ever recorded in Egypt

Saudi central bank submits new banking draft law to legislative authorities

The banking sector was highlighted for its strong capitalization, with a solvency ratio of 19.6% at the end of 2024

UAE Central Bank fines exchange house Dh10.7 million

The exchange house failed to comply with the AML/CFT policies

Rakbank becomes the first UAE bank to offer crypto trading for retail

Rakbank became the first traditional bank in the UAE to enable crypto trading for retail users through its mobile app, powered by Bitpanda.

Banque Misr Signs Cooperation Protocol with Dubizzle to Support Real Estate Finance Services

The bank always strives to enhance the excellence of its services and maintain its long-term success

Central Bank of Egypt offers debt instruments on Monday

The first auction was valued at $553mln and will mature in 91 days on October 28, 2025

Ex-Turkish central bank governor Süreyya Serdengeçti passes away at 73

He held several other positions before being appointed as the governor of the central bank in March 2001

KPMG in Qatar welcomes class of 2025: Building the next generation of business leaders

Reaffirming the firm’s long-standing commitment to talent development

Federal Tax Authority announces AED 3.2bln in tax refunds for UAE nationals building new residences by June 2025

And more than 18,000 retailers are connected to the Digital Tax Refund system for tourists

UAE participates in 3rd G20 Finance Ministers and Central Bank Governors meeting in South Africa

Meeting addresses global macroeconomic outlook and key developments in the international tax system

UAE announces new tax benefits for fair value investment properties

UAE taxpayers who elect for the realisation basis can now deduct depreciation from their taxable income for investment properties maintained on a fair value basis

Board of Directors of the Financial Stability Council holds first meeting of 2025

Chaired by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs

FRA approves establishment of five new firms for investment fund management, SME financing

Established under FRA Chairperson’s Decision No. 3060 of 2023

Central Bank of Oman issues treasury bills worth over OMR10m

The CBO acts as the issue manager for these bills.

South African and Middle Eastern employers urged to review and adapt harassment policies 

Organisations should conduct assessments to ensure managers and workers are not only aware of the existence of such policies but actively implement the values of those policies

EU doing more than UK to help Briton detained in Dubai, says family

Bloc passes resolution calling for release of Ryan Cornelius, who was convicted of bank fraud

CBE’s Governor attends Arab Central Bank Governors’ Meeting ahead of Sept. Summit

Progress was also reviewed on the forthcoming Arab Financial Stability Report and the 2025 Joint Arab Economic Report.

Valu receives initial approval from the Central Bank of Jordan to launch operations

Marking a major milestone in Valu’s regional growth strategy and commitment to financial inclusion in Jordan

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