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

Lebanon central bank governor inflated assets as liabilities grew, says audit

Most central banks record seigniorage, usually defined as a profit made from printing money, as an income stream.

Dubai-China FinTech agreement brings new opportunities for DIFC

Dubai-Chengdu bridge to benefit FinTech firms in both jurisdictions

Regulations in digital assets bring more confidence to investors in Gulf countries

Regulators are creating an environment where investors and customers feel safe to dabble in a secure manner, KARM Founder says

SICO to offer sukuk-based Murabaha service

The unique service allows participating financial institutions to offer Sharia’a-compliant Murabaha service through an efficient process, and hence contributing to promoting the Kingdom of Bahrain as a hub for Sharia-compliant transactions.

Emirates NBD completes customer migration to Smart Pass

Strong two-factor authentication for safer digital transactions

Kuwait sovereign wealth fund fights court battle with fired executives

London arm of KIA alleges top managers conspired to award unlawful pay rises

Abu Dhabi's NMC Health seeks another $250m in bank funds

UAE and international banks already have an exposure of $6b plus in hospital operator

Al Salam Bank becomes first bank in Bahrain to complete customer handover of Deerat al Oyoun Villa under Mazaya Scheme

Al Salam Bank customers can now purchase their dream family home under the Mazaya Social Housing scheme with no down payment or administrative fees.

Region's first: Dubai's DIFC-based GRIP to raise $10mln via digital securities

The issuance is the first major globally compliant digital securities offering in MEASA

Lebanon hires US firm for central bank probe

Alvarez & Marsal forensic audit seeks answers to mounting finance crisis

Region’s first global digital security capital raise from the DIFC

The issuance also cements the DIFC’s position as the leading financial hub in the region, thanks to its robust, yet innovative legal and regulatory framework which helps nurture innovation and adoption of technology.

Lebanon contracts Alvarez & Marsal to do forensic audit

The move to name Alvarez & Marsal came after weeks of delays after other companies were not accepted because of alleged links to Israel, with whom Lebanon is at war.

Loans worth $537mln approved for SMEs - Central Bank of Jordan

Central Bank approves 3,942 loan requests from enterprises hit by pandemic

Emirates NBD raises foreign ownership limit to 40%

UAE indices were pulled higher by global cues, notably EU's 750b euro stimulus

Al Salam Bank Partners With Bahrain Bourse and Central Bank of Bahrain on New Shari’A-Compliant Asset-Trading Framework

The innovative new structure meets a growing demand for Shari’a-compliant alternative financing solutions, which has prompted a rise in global Sukuk issuances.

Kuwait runs into resistance on bill to boost borrowing

Kuwait raised $8bn in March 2017 in its first sale of international bonds

Kuwaiti banker faces arrest in Switzerland over $850m probe

Fahad Al Rajaan is accused of being at the centre of a vast web of secret commissions and kickbacks

QNBFS to start liquidity provision service for QIB on July 23

QNBFS invested in one of the most recognised international trading systems for liquidity provisioning activity. Moreover, it brought in experienced traders with advanced educational and professional experience in market making and liquidity provisioning.

Qatar has lowest ‘2020 central government deficit-to-GDP ratio’ in GCC, says S&P

Since the sharp fall in oil prices, many GCC sovereigns have posted sizeable central government deficits.

Lebanon court orders the seizure of bank governor’s assets

The cabinet is expected to discuss in its Tuesday session the file of the audit of the central bank’s accounts, to determine who will handle this task

Legal, Tax, Regulation & Compliance