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

UBP's Saudi Setback

The Swiss ruling denies an appeal by UBP against Hugh Dickson and Mark Byers, liquidators of Saudi Arabia vehicle Saad.

'It’s been a challenging year': Dubai loosens alcohol laws to ease economic slump worsened by coronavirus

Liquor sales have long served as major barometer of Dubai’s economy

QFMA sheds light on key efforts and achievements in its 2019 annual report

The QFMA also seeks to regulate the mechanism of conducting business related to securities

Dubai law to regulate family businesses

The Law No (9) of 2020 Dubai, which defines the terms of the family ownership contract, and the powers and obligations of its manager, is valid from the date of its publication in the Official Gazette.

QFCRA takes disciplinary action against former CEO of company

The Tribunal noted that the financial penalty and prohibition imposed by the Regulatory Authority was appropriate given Russell’s conduct but, given certain reasons, the Tribunal commuted the financial penalty.

Saudi Marketing signs $26.67mln financing deal with Bank Albilad

The facility will finance the company's working capital requirements

Abu Dhabi in talks with banks for new international bond deal, sources say

It is now discussing a new transaction and has picked a group of banks to arrange it, said two sources familiar with the matter without identifying the banks involved.

Ex-Guardian Wealth Qatar CEO hit with fine and ban

But financial hardship and coronavirus see the penalty commuted

QPay witnesses more than 4-fold jump in transactions in 2019

In 2019, transactions under Qatch increased in both value (24.17%) and volume (10.64%) terms over the previous year.

UAE residents flying back to Dubai still require GDRFA approval

A directive that went into effect on Wednesday had said all expats with UAE residency visas can enter the country without prior approvals

ADIO, ADQ join forces to boost Abu Dhabi's digital economy, startups

The collaboration includes transferring the ventures fund, which was set up through Ghadan 21, to ADQ

DIFC launches new license starting at $1,500 for startups and entrepreneurs in Dubai

Businesses can secure up to four visas when renting a desk space within the freezone

Dubai fraudster David Haigh made bankrupt after losing $5m case

Haigh was deputy chief executive of GFH Capital, the investment banking arm of the Bahrain group, and led its purchase of a 24 per cent stake in the English football club Leeds United in 2013.

Mohammed bin Rashid enacts amendments to DIFC’s Common Reporting Standard Law

Updated Law enhances the Centre’s transparency

Gulf International Bank signs partnership with Alnahda

Specifically, in support of their leadership of the Women 20 (W20), one of the official G20 Engagement Groups, focused on closing the global gender gap and women's empowerment

UAE's first ETF tracking Sharia-compliant index lists on UAE markets

The Chimera S&P UAE Sharia ETF will have two different share classes that will track a Sharia-compliant index compiled from stocks listed in Abu Dhabi and Dubai

UAE Fintech NymCard Granted In-Principle Approval to Hold, Transfer Customer Funds, while Issuing Payment Cards

As first reported by MENAbytes, NymCard says it’s the first firm to have been given in-principle approval in 2020 by the FSRA.

Saudi Arabia Launches a New Event Focused on Tech

Backed by a multitude of government organisations, LEAP will serve as a catalyst for monumental digital transformation across every sector of Saudi industry and business.

How the world reacted to UAE, Israel normalising diplomatic ties

Nations, groups and individual stakeholders in Israeli-Palestine conflict react to UAE and Israel normalising relations.

Bahrain Seen Needing More Gulf Aid as It’s Downgraded by Fitch

Lower oil prices and the global coronavirus pandemic have combined to stretch its finances.

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