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

Saudi Arabia: 15% VAT hike comes into effect

VAT increase applicable of all goods and services

Saudi Arabia facilitates corporate money transfer abroad

Saudi Arabia facilitates money transfer abroad

UAE: new consumer and data security law moves closer

The law will enable the fair and prompt settlement of disputes, and help consumers obtain fair compensation.

UAE Central Bank and ADGM invite FinTech firms for an innovation challenge

Successful companies will receive a grant of $20,000 each to develop a proof-of-concept solution to a problem statement

Dubai Startup Hub Market Access programme’s second cohort attracts 44 start-ups

Emirates NBD will collaborate with four start-ups

Dubai’s early debt repayment will stand it in good stead

Dubai’s total debt was somewhere above $100 billion (though never exactly specified), of which Dubai World was responsible for roughly half.

GTA launches new tax portal; companies required to register on ‘Dhareeba’

The new tax portal provides the GTA with digital channels to serve all its partners such as the Government, tax agents, and the taxpayers.

Islamic finance sector needs to unlock its long-term potential

A higher degree of standardisation would support the growth of Islamic finance and reduce discrepancies between jurisdictions

Lebanon’s real estate sector booming despite financial crisis

But bubble won't last, with available property already drying up, experts say

Dentons advises syndicate of banks on US$166 million lease financing of six vessels for Tristar

The Dentons London team was led by partner Sarah Dyke with assistance from counsel Lee McLernon, senior associate Rebecca Urry and junior associate Olivia Feeney advising the senior financiers National Australia Bank, Société Gén&

TheCase: Calculating the new VAT in Saudi Arabia

Many people wonder about this new tax position on banking and financing services

Lebanese banks raise USD withdrawal rate to 3,850 pounds/dollar

With dollars growing ever more scarce, the Lebanese pound has plunged since last year by nearly 80%

COVID-19: Corruption prevails as Kuwait fights pandemic

‘Government missed many opportunities that could have taken us out of the current crisis’

Egypt- AMF prepares launch of international immediate payment service

The AMF's workshops with the banks on the immediate payment services come as part of its keenness to affirm the role of banking participants in developing the Beni platform's strategic vision.

Dubai Economy issues 41,252 e-MOA, addendums

Business owners in Dubai can get the e-MOAs and all its addendums through Dubai Economy service centres or by approval to the text message from 6969 without the need to visit Dubai Economy.

Qatar’s banking system supported by strong regulatory framework, solid capital and liquidity: EIU

Despite the current account moving into deficit in 2020-21, the currency regime should be able to weather the short-term shocks posed by the coronavirus pandemic, according to the update

Lebanese central bank’s accumulated losses reach $49 billion, says report

Lebanon is battling a financial crisis, the biggest since civil war

CBE confirms financial soundness of banks operating in Egypt

The CBE indicated that the loans to deposits ratio in local currency was 40.2% in March 2020, compared to 39.2% in December 2019.

Swissquote Bank launches trading certificates for pharma investments

It allows investors to pick up exposures in companies taking on COVID-19

WGS webinar discusses investment dynamics amid Covid-19

The session -- part of the World Government Summit’s ‘COVID-19 & Government’ online series -- was moderated by Hadley Gamble, News Anchor and International Correspondent, CNBC.

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