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

Bahrain’s banks must help finance economic recovery

Although all industries were affected by the global outbreak, some industries were very badly hit.

Moody's - Decline in sukuk issuance to be limited by GCC financing needs

Despite the decline, 2020 will still see the second highest sukuk issuance total ever, following a 36% increase in 2019.

Trusts and Shari’a compliance

This is commonly referred to as 'forced heirship' and is most common within civil law countries and countries with Shari’a law in place.

Abu Dhabi And Dubai Launch New Initiatives In A Bid To Reshape The UAE Economy

The Virtual Policy Council will propose the best approaches Dubai

Lebanon's banking, economic and political systems were already under threat before the explosion. Here's why

And the pandemic has only further laid bare the strain the whole system is under.

BNP Halts New Commodity Trade Finance Deals as It Reviews Unit

BNP’s commodity trade finance team suffered heavy losses from the bank’s exposure to companies including crop trader Phoenix Group, energy firm GP Global Group as well as coffee dealer Coex Coffee International Inc., the people said.

Dubai launches economic program for post-COVID recovery

The government of the emirate plans on using local and international experts in economy and society to create growth strategies.

Total collapse: Lebanon’s currency crisis explained

If your salary was 750,000LP or $500 this time last year, it’s worth 750,000LP or $75 now

Kuwaiti lessor halves Boeing 737 MAX order after ending legal claim

Alafco sued Boeing for $336m over accusations it refused to return advance payments

'Brexit will bring us closer to the Gulf', says UK Middle East Trade Commissioner

Official says bi-lateral trade meetings have gone up despite the pandemic

Egypt's local bank deposits increase to EGP 3.268trn in June: CBE

In the same context, the CBE revealed that customer deposits in foreign currencies increased by EGP 14.195bn to about EGP 666.642bn during June, compared to about EGP 652.447bn in May.

VAM Funds Announces Registration of Funds in UAE

VAM is committed to establishing and building a permanent distribution capability in the UAE, where demand for high quality, sophisticated investment funds and products is increasing.

Albanian businessman’s assets seized, drug links suspected

Prosecutors said that the assets belonging to Ndroqi and his family stemmed from “his involvement in criminal activity” and were “unjustified.”

Qatar ADR: scope to resolve construction claims

Often claims on construction projects arise because of the changes to the original scope of work, known as variations.

Turkish State-Owned Banks On Lending Spree To Stave-Off COVID-19 Crash

But a surge in lending – particularly from state-owned banks – and government decreed reductions in local interest rates mean that many companies will be able to refinance their debts.

Khaleeji Commercial Bank issues $159mln sukuk

The transaction will significantly strengthen the lender’s financial position

Bucheeri: A quantum leap in Bahrain digital banking services

Experts discuss performance changes in the Bahraini business sector due to COVID-19

Bahrain's GFH Financial subsidiary finalizes $159mln sukuk issuance

GFH is listed on Bahrain Bourse, Kuwait Stock Exchange and DFM

Kuwait: NBK’s AGM was held with a 77.86% quorum and approved all BOD’s proposals

Total assets grew by 6.7% y-o-y, reaching KWD 29.3 billion and equity attributable to shareholders stood at KWD 3.21 billion.

JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021

Governments have been tapping debt markets to shore up finances battered by a slump in oil prices and as lockdowns to curb Covid-19 weigh on their economies.

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