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

HSBC tightens AML controls with Middle East exit

The affected clients, spanning Saudi Arabia, Qatar, Lebanon, and Egypt, have already begun receiving closure notices.

CMA approves Bidaya Finance’s public sukuk program worth up to SAR 1bln

In its statement, the CMA confirmed that the prospectus will be published prior to the subscription period

UAE: Abu Dhabi court orders five to repay over Dh631,000 in banking scam

Court also awards victim Dh30,000 in damages for material and moral harm

Bank Dhofar signs digital banking pact with Social Protection Fund

Strategic partnerships with international firms have further strengthened its infrastructure, while artificial intelligence tools continue to enhance security and innovation.

Gulf Bank signs partnership agreement with the Institute of Banking Studies

Partnership to train and prepare employees as part of bank’s transition to a Sharia-compliant bank

UAE’s FTA reports record corporate tax filings, cites these factors

The FTA DG said the high level of voluntary compliance reflected growing tax awareness among business sector and the efficiency of the EmaraTax digital platform

GCC Finance Ministers, Central Bank Governors meet with IMF Managing Director

This was clearly demonstrated by the progress made in implementing the North Field expansion project in Qatar

Egyptian Pound Continues Upward Trend against US Dollar

The US Dollar is trading at EGP 47.79 (buy) and EGP 47.93 (sell) at the Central Bank, confirming the ongoing strength of the Egyptian Pound relative to recent months.

Saudi regulator launches consultation to open main stock market to all non-resident foreign investors

If approved, the draft would scrap the Qualified Foreign Investor system in the main stock market, enabling all foreign investors to participate without meeting eligibility rules

Arab National Bank to redeem $750mln sukuk due 2030

The sukuk was issued on 28 October 2020 with a 10-year maturity

UAE has reshaped its regulatory landscape and cracked down on financial crime

Yet, much of the credits goes to efforts made in the financial services sector.

Oman's central bank issues treasury bills worth OMR2.25mn

Treasury bills are short-term highly secured financial instruments issued by the Ministry of Finance

Saudi Central Bank approves use of Visitor ID to open bank accounts

The “Visitor ID,” issued by the Ministry of Interior, serves as an official identification document for visitors and can be verified through authorized digital platforms

Kuwait bank alleges financial fraud against 13 Keralites in ₹10 cr loan default case, Crime Branch begins probe

Kerala police have registered 13 cases so far following the complaint

Boubyan Bank launches new sharia-compliant certificates of deposit program

The first of its kind by a kuwaiti Bank

Turkish central bank governor says will keep tight monetary policy stance

Karahan said the bank would determine the policy rate by taking into account realised and expected inflation, and its underlying trend.

Oman’s financial system resilient despite global headwinds: CBO

The CBO on Tuesday released its 2025 Financial Stability Report, offering a comprehensive and forward-looking assessment of Oman’s financial system.

Three Saudi developers say Riyadh portfolios not impacted by White Land Tax rules

Al Majdiah, Retal, Alandalus confirm amended regulations don’t impact their real estate portfolios in Riyadh city

Jersey and Bahrain strengthen business ties through new tax agreement

The Double Taxation Agreement with Bahrain is another important addition to Jersey’s extensive treaty network.

Alvarez & Marsal launches Tax practice in Saudi Arabia with senior team

The new Tax practice supports clients with a range of areas, including zakat, direct and indirect taxes, and transfer pricing.

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