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

PwC helps Saudi government with water privatisation initiative

With its crucial position in Saudi economy and Vision 2030, the government decided to reorganise the water production segement.

Gulf regulators must clarify their cross-border responsibilities

Better due diligence and oversight is needed as the pandemic takes its toll

UAE foreign ownership and investment laws reformed

The decree brings a number of changes to company law in the UAE, most of which apply to provisions for limited liability and joint stock companies.

Employment regulations in the Abu Dhabi Global Market

We set out below the main employment law themes that senior management teams, HR managers and in-house legal teams need to be aware of under the ADGM Employment Law:

Bahrain awards US $2.7 billion worth of contracts in first nine months of 2020

Robust figures come despite the debilitating impact of COVID-19 on the global economy

Top US consultancy withdraws from 'crucial' central bank work

The pegging was managed by the central bank borrowing from private banks, who depended on depositors attracted by huge interest rates of up to 14%.

Banque Misr, NBE acquire 40% of stocks of Western Union's representative in Egypt

Chairman of the National Bank of Egypt Hisham Okasha said that the move comes within the bank’s efforts to merge customers targeted into the banking sector as well as using official means for transferring funds in order to increase the flow of forei

Egypt’s central bank issues LE 21B on T-bills Thursday

Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7 percent by end of June 2021, up from earlier target of 82.5 percent by the end of June 2020 and to 77.5 percent by the end of June 2022.

Egypt to Issue First Sovereign Islamic Sukuk

Generally known by their Arabic name, sukuk are financial products compliant with Shari’a law.

Egypt banks step up anti-virus efforts

The federation's latest plan includes a follow-up on alternative workplaces to allow departments to continue working in cases of forced interruption.

Dubai Court orders whopping Dh1.6b compensation to founder of Tameer Real Estate Company

Experts' panel finds in favour of Omar Ayesh, who built one of the tallest towers in Dubai

Bank CEOs welcome TESS extension by CBUAE

Governor of the Central Bank of the UAE commenced the meeting by recognizing and thanking all CEO's and their staff

QFC unveils policy statement on licensing new global law firms

The policy further stipulates that while exemptions may be made, subject to the QFC Authority’s absolute discretion

Turkey Dismantles Another Key Policy to Cool Lending Boom

Banking regulator repeals asset-ratio rule at the end of 2020

Turkish central bank raises swap auction limit to 60%

The new regulation will give banks more room for lira and currency liquidity management.

Qatar welcomes skilled Turkish workforce in private sector

He said the trade between both countries has increased by 136 percent from $908m in 2016 to $2.2bn in 2019, while it hit $1.2bn in first half of 2020.

PwC reveals cost optimisation measures high on the agenda for CFOs

Beyond policy measures, most public sector organisations have been instructed to find ways to cut costs and rationalise spending.

Mandate qualifications for advisers, UAE regulator urged

Move will help ‘weed out the unscrupulous elements who bring ill-repute to professional advisers’

QFCRA starts legal action in New York to enforce judgment against First Abu Dhabi Bank

It added that the action arises from FAB’s obstruction of an investigation conducted by the QFCRA and the lack of integrity demonstrated by FAB as a firm conducting business in the QFC.

Saudi King approves renaming Saudi Arabian Monetary Authority to Saudi Central Bank

Saudi Arabia, the world’s biggest oil exporter, pegs its riyal currency to the dollar at 3.75 per one U.S dollar, a rate unchanged since 1986.

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