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

‘Qatar has enhanced economic laws’

“The new rules embrace virtual hearings as an option to the parties due to Covid-19 pandemic,” Sheikh Thani added.

Abu Dhabi jails six, slaps fines of Dhs160m on money laundering charges

The accused, also involved in drug trafficking, were found guilty of using exchange houses to transfer illegal funds to Pakistan

Are Banks Enablers or Victims of Financial Crime?

The charge against the banking industry is that time after time

SimCorp signs a firm and binding strategic agreement with State Street Bank International

With a joint track record in delivering service excellence to clients in Germany, since 2005, the expanded partnership, as determined by today’s signed agreement, now sees EMEA insurance clients benefit from the joint expertise

UAE jails 6 expats, issues fines up to Dh160 million for money laundering

A statement issued by the Abu Dhabi Judicial Department (ADJD) on Saturday said that the UAE has an integrated and flexible financial legislative system and a specialised judicial structure to combat financial crimes which has contributed to reduce money

New regulation ensures financial sustainability for insurance companies

The decision issued by Abdullah bin Salim Al Salmi, executive director of the Capital Market Authority, directed all the companies to work on conciliating its conditions according to the regulation’s requirements during one year.

Sovereign Contingent Liabilities in the GCC

Aggregate debt of GCC government-related banks (wholesale or interbank funding, excluding customer deposits) rose to 17% of GDP in 2019 and ranged from 14% of GDP in Bahrain to 46% of GDP in Qatar in 2019.

Central Bank of Oman launches Fintech Regulatory Sandbox

A Fintech Regulatory Sandbox is a common and worldwide-used approach to achieve the objective of harnessing opportunities for innovation in the financial sector while mitigating the accompanying risks.

The Chartered Insurance Institute welcomes UAE insurance authority's draft regulation for insurance brokers

The Chartered Insurance Institute exists to drive up professional standards across International markets

Bahrain puts off new taxes, weighs longer relief

We want to see recovery take hold before any additional steps: finance minister

Burgan Bank places $500mln Tier 2 bonds in debt market

The bonds comply with the Basel III regulatory framework

Experts welcome Saudi Public Prosecution’s push to keep capital markets fair, honest

Agency reiterates crime of creating a false, misleading impression of the market to traders

Egyptian banks' assets, reserves abroad jump 90% in 7 months

Adel pointed out that the Egyptian banks' assets and reserves abroad returned to their previous record levels, a matter which reflects the success of the monetary policy.

Bahraini ministry plans to replace expats by 2024

49 foreign employees sacked over the past 2 years, says minister

Egypt promotes comprehensive plan to confront overpopulation

It is a priority for the government because it constitutes great pressure on natural resources and the state budget.

Turkish minister pledges accountability amid reforms to woo foreign investors

The Turkish lira briefly trimmed losses after the statement and was down 0.2% at 7.8236 per US dollar as of 11.23am in Istanbul.

Egypt, French agency sign financing agreements- statement

The agreements were part of the 2019-2023 Strategic Partnership in Social and Economic Development between Egypt and France

Central Bank of Egypt extends tourism, retail loan initiatives to 2021 end

The CBE also decided to extend the validity period of the retail loan initiative for workers in the tourism sector for a year, which will also conclude at the end of 2021.

Gulf Bank Embarks On Multi-Year Multiexperience Transformation Journey With Avaya

The transformation journey began earlier in the year, when Avaya supported Gulf Bank at the height of the COVID-19 pandemic by providing remote agent licenses.

Turkey Inflation – Back with a Vengeance

The Brazilian economy rebounded strongly in Q3 2020 (7.7% quarter-on-quarter).

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