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

Network International obtains Stored Value Facility licence from UAE Central Bank

The Central Bank of the UAE issued the Stored Value Facilities Regulation in 2020

Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to Abu Dhabi National Insurance Company

The transaction has closed on 17 April 2024 after clearing regulatory approvals.

The Central Bank: Banks & finance companies may defer personal and car loans installments for six months to overcome the repercussions of the weather condition

Rain -Damaged Vehicles & Homes are Covered by Insurance Companies

5-years jail for Kuwaiti in stealing expat cash from bank

The accused took advantage of the victim’s lack of knowledge of the Arabic language, as he was of Iranian nationality, and persuaded him to invest and earn monthly profits in a deposit scheme.

Saudi EXIM Bank, Swiss counterpart sign deal to boost non-oil exports

The Kingdom's primary exports to Switzerland included pearls, precious metals, and aluminum, valued at $587.57 million and $139.39 million, respectively.

Deloitte launches Kiyadat to advance GCC national talent into leadership roles

In Arabic, "Kiyadat" translates to "Leaders", symbolizing the commitment to fostering national talent and paving their way towards leadership roles

ADGM wins 'Most trusted financial centre brand, Middle East' at Global Brand Awards 2024

The esteemed Global Brand Awards, an annual ceremony organised by Global Brands Magazine (GBM) headquartered in England, celebrates international brands that excel across various industries annually

Greenberg Traurig Becomes Fully Incorporated in Kingdom of Saudi Arabia

Final government approval coincides with the firm’s first anniversary of KSA operations

UAE corporate tax: Exploring four major updates

With UAE Pass now integral to tax portal access, businesses must ensure they understand the requirements

Saudi finance minister to lead Kingdom’s delegation at IMF-World Bank Spring Meetings

The minister will also take part in the meeting of the World Bank Development Committee to discuss the global development plans implemented by the entity.

stc pay becomes STC Bank with Saudi Central Bank approval

STC Bank is committed to offering Sharia-compliant banking solutions, prioritizing security and customer protection by leveraging advanced financial technologies.

World Bank doubles Turkey’s exposure to $35 billion: minister

Turkey will become the third largest recipient of concessional World Bank loans in the world.

Baker McKenzie closes deal for ZCCM Investments Holdings on $1.1bln copper mine partnership for Mopani Copper Mines

ZCCM-IH took full control of Mopani from Glencore in 2021

New fraud allegations hit Lebanon's central bank over $8 billion scheme

Alleged scheme involves 'sham transactions' between Lebanon's central bank and its lesser-known broker, Optimum, leaked audit papers show

Oman’s central bank issues treasury bills worth $163.67 million this week

Value of T-bills with a maturity of 364 days reached OMR40.7 million

Qatar’s international reserves up 5.2% to reach $68bn, central bank reveals

This increase came against a backdrop of balances held in foreign banks see a year-on-year decline of 10.77 billion riyals.

Iraq signs 12 MoUs with Saudi Arabia in investment push

This partnership in the cement industry also marked the first collaboration between the private sectors of Iraq and Saudi Arabia.

Public launch of Sharia-compliant STC Bank slated by year-end

The beta version will be initially limited to preselected customers

Roland Berger launches 5th Middle East office in Abu Dhabi

Abu Dhabi is embarking on some of the most ambitious economic growth and diversification initiatives in the region.

Saudi Arabia will bear government fees of displaced expats from neighboring countries

The government fees exemption covers residency permit (iqama) fee, work permit fee, transfer of service fee, profession change fee, and fee for employees of companies

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