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

Kuwait Renews $2 Billion Deposit with Egypt’s Central Bank

The External Position Report offers a comprehensive analysis of Egypt’s balance of payments

Central Bank of Egypt Eases Rules on Credit Card Use Abroad

In a decision announced this week, the CBE canceled a clause from a previous directive issued in October 2023.

Kuwait busts Nigerian-led cybercrime ring targeting telecoms, banks

Specialised teams from the Criminal Security Sector launched an urgent investigation, uncovering a network of suspects who allegedly used advanced electronic devices to breach telecom systems.

Qatar Central Bank foreign reserves rise 3.28% in July

The Bank’s holdings of foreign bonds and treasury bills rose by around QR 57 million to QR 138.754 billion

UAE Central Bank penalizes finance firm Dh600,000 for regulatory violations

Firm failed to comply with Market Conduct, Consumer Protection Regulations and Standards

17% of Jordanian programme completed to boost digital services transformation — WB

The programme is financed through two main components: a $321 million World Bank loan and a $29 million trust fund grant

Egypt’s net international reserves hit record $49.04bn in July: CBE

This marks the highest level of foreign currency reserves ever recorded in Egypt

Saudi central bank submits new banking draft law to legislative authorities

The banking sector was highlighted for its strong capitalization, with a solvency ratio of 19.6% at the end of 2024

UAE Central Bank fines exchange house Dh10.7 million

The exchange house failed to comply with the AML/CFT policies

Rakbank becomes the first UAE bank to offer crypto trading for retail

Rakbank became the first traditional bank in the UAE to enable crypto trading for retail users through its mobile app, powered by Bitpanda.

Banque Misr Signs Cooperation Protocol with Dubizzle to Support Real Estate Finance Services

The bank always strives to enhance the excellence of its services and maintain its long-term success

Central Bank of Egypt offers debt instruments on Monday

The first auction was valued at $553mln and will mature in 91 days on October 28, 2025

Ex-Turkish central bank governor Süreyya Serdengeçti passes away at 73

He held several other positions before being appointed as the governor of the central bank in March 2001

KPMG in Qatar welcomes class of 2025: Building the next generation of business leaders

Reaffirming the firm’s long-standing commitment to talent development

Federal Tax Authority announces AED 3.2bln in tax refunds for UAE nationals building new residences by June 2025

And more than 18,000 retailers are connected to the Digital Tax Refund system for tourists

UAE participates in 3rd G20 Finance Ministers and Central Bank Governors meeting in South Africa

Meeting addresses global macroeconomic outlook and key developments in the international tax system

UAE announces new tax benefits for fair value investment properties

UAE taxpayers who elect for the realisation basis can now deduct depreciation from their taxable income for investment properties maintained on a fair value basis

Board of Directors of the Financial Stability Council holds first meeting of 2025

Chaired by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs

FRA approves establishment of five new firms for investment fund management, SME financing

Established under FRA Chairperson’s Decision No. 3060 of 2023

Central Bank of Oman issues treasury bills worth over OMR10m

The CBO acts as the issue manager for these bills.

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