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

Saudi mining investment law takes effect in January 2021

The Saudi Geological Survey is one of the largest surveys in the world, with the budget for all its stages amounting to SR2 billion

EBRD grants Banque du Caire $50m loan to support MSMEs

The loan will assist the Egyptian bank in developing its MSME lending activities, and expand access to finance for underserved MSMEs.

Oman: Amendments to income tax law announced

The amendments generally take effect as from 21 September 2020.

Egypt: Unified tax procedures law introduced

The amendments were introduced in response to the government’s efforts to merge the informal economy with the formal system and to improve the administrative practices of the Egyptian Tax Authority (ETA) so it will work more efficiently and the numb

Never share bank details over the phone, cops in UAE warn

The police said fraudsters send such messages, usually via SMS or WhatsApp, to dupe bank customers into sharing their personal data.

UAE Central Bank fines 2 exchange houses for violating rules

The Central Bank has taken a number of initiative in the last few months about money laundering and fighting terror financing.

Firm hired to audit Lebanon central bank has not received all requested info - sources

The central bank said this month that it had provided "all the documents and information which Lebanese laws allow."

Dentons advises Commercial Bank of Dubai on its issue of Additional Tier 1 capital securities

Dentons also regularly advises CBD on its annual EMTN programme updates and the issuance of notes under the programme

Kuwait cuts some rates to ease currency and virus pressures

Kuwait, which pegs the dinar to a basket of currencies dominated by the US dollar, cut to 1.5% and was the only Gulf country that matched the Fed’s unexpected decrease of a full percentage point.

Central bank digital currencies on track for financial systems

But the US central bank is an active participant in research - while conducting its own - into the prospect in partnership with other central banks and the Bank for International Settlements (BIS).

A framework agreement of cooperation between IsDB and Standard Chartered Bank

The COVID pandemic has disrupted international financial channels and put pressure on hard currency inflows to Emerging Markets

CBUAE imposes administrative sanctions on two exchange houses operating in the UAE

The CBUAE took the exchange houses' poor compliance histories into account

CBO issues treasury bills worth OMR29 million

The average accepted price reached 99.723 for every OMR100 while the minimum accepted price arrived at 99.550 per OMR100.

Major overhaul of UAE financial services regulatory framework announced

The CBUAE is also now responsible for protecting the rights of the insured and monitoring the financial solvency of insurance companies.

UAE merges Insurance Authority with Central Bank

The UAE government announced yesterday it has merged the Insurance Authority (IA) with the Gulf state's central bank.

Arab world’s lone growth outpost lures debt investors back

Egypt’s finance minister Mohamed Maait points to economy’s relatively strong performance despite pandemic

Banque du Caire obtains CBE license for POS

Fayed noted that this move comes in line with the bank’s expansion strategy that relies on new digital channels

Jersey's BIT with the UAE and reflections on investment treaty practice in non-sovereign autonomous regions

Jersey is set to sign its first BIT with the UAE later this year.

First batch of Qatari real estate brokers obtain licence

Al-Suwaidi said that the batch received the licence after completing the regulatory procedures specified in accordance with the provisions of the law.

UAE merges insurance authority with central bank - Dubai ruler tweet

The decision also transfers all operational and executive powers of the Securities and Commodities Authority to the local stock markets

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