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

The Storm before the Calm or the Calm before the Storm?

Analysis of market positioning suggests that traders do not have significant sterling shorts yet.

Saudi Arabia tightens anti-money laundering curbs

New rules set for forex offices including uncovering dubious and fraudulent dealings

UAE central bank urges post-crisis caution to avoid credit supply squeeze

UAE central bank governor's comments, made in a speech to a conference of central bankers from emerging markets, were published on Thursday

Construction in GCC reeling from Covid-19 economic impact

For construction, this has meant delays in raw material, much fewer projects, and new restrictions on how labourers can operate on a construction site.

Boursa Kuwait Organizes Virtual Corporate Day in Collaboration With HSBC

The meetings enabled the international investors to gain an in-depth understanding of the benefits and opportunities of investing in the Kuwaiti companies

UAE and international companies apply for digital banking licences with ADGM

The financial hub has awarded licences to five digital asset exchanges and approved five more in principle

Arab Monetary Fund extends $41 million financing to Jordan

The AMF is also keen to provide financial and technical support to its member countries during this period in particular, in light of the developments taking place due to the COVID-19, and the ensuing economic and financial repercussions in different aspe

Central banks need to co-ordinate tapering off relief measures for COVID-19, says UAE regulator

UAE central bank chief says regulators need to consider adequacy dealing with such crisis

Bahrain to Introduce Regulations for E-Commerce Businesses which Support Nation’s Digital Transformation Strategy

As covered in June 2020, the Fintech startup ecosystem in the country is ranked among the fastest-growing sectors in the Middle East

Hapoalim expects UAE bank ties to follow accord

Israel and the UAE agreed to normalize relations on Aug. 13

Saudi finance minister rejects IMF prediction of economic gloom

The Fund’s gloomy forecast for the Kingdom has been criticized before by senior officials

UAE firms can now obtain bank loans against moveable assets as collateral

Ministry of Finance also announces creation of electronic registry to record assets to ensure project financing

The International Islamic Trade Finance Corporation and Mizuho Bank Malaysia Sign US$100 million Trade Financing Deal

This Line of financing for ITFC is the first with a Japanese bank and in line with its strategy of developing partnerships with banks around the world to help extend trade financing to member countries of the Organisation of Islamic Cooperation

Lebanon starts central bank audit in effort to exit financial crisis

The crisis was exacerbated by last month’s huge port explosion that ruined a swathe of Beirut.

UAE and Pakistani finance authorities join hands to combat money laundering

The MoU comes in line with international efforts to exchange financial information and expertise

UAE firms can now obtain bank loans against moveable assets as collateral

Ministry of Finance also announces creation of electronic registry to record assets to ensure project financing.

Herzog Fox & Neeman to open law office in UAE

The UAE is one of the world's most developed economies."

Lebanese banks to exit Iraq over increasing compliance demands

The banks that have been earmarked for imminent closure are Fransabank, IBL, Credit Libanais and BLF, according to sources.

30 arrested in massive tax graft said to involve hundreds of millions of shekels

Suspects allegedly filed false paperwork declaring takeover of hundreds of companies, then issued fake invoices, laundered money in their names; some also sold diluted gasoline

How to spot a recruitment scam in the UAE

Unscrupulous people are using the Covid-19 pandemic to exploit those in desperate need of a job

Legal, Tax, Regulation & Compliance