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

UAE advice firm agrees second merger in a month

As business eyes European and Latin America expansion

CIAF cancels Sukuk issuance, considers alternative financing methods

It was forced to postpone and reconsider this step in light of the global pandemic and the international air traffic suspension.

Robust master plan urged for Qatar capital market with focus on long-term debt

"The long-term growth of Qatar’s domestic debt capital market should be a top priority in the master plan with a focus on driving corporate bond and sukuk issuance," the report said.

Bankruptcies among small and mid-sized businesses to peak, says IMF

More tax relief and interest rate subsidies can rectify a worsening situation

Abu Dhabi Securities Exchange sees rapid acceleration in access for foreign investors

In the first half of 2020, AED6.3 billion of additional stock became accessible for a new group of both local and international investors, creating further scope for increased trading and liquidity

Abu Dhabi Securities Exchange Set for Growth

ADX has coordinated closely with its listed companies and other stakeholders to build a robust, modern and increasingly international capital market, an essential pillar of any economy.

IMF urges GCC, Arab states to balance reopening economy, keeping Covid cases down

Governments have to move away from job providers and shift this responsibility to private sector

President issues Federal Decree restructuring Central Bank of UAE

Established under the Federal Law No. 10 of 1980 as a public institution, the CBUAE promotes financial and monetary stability, efficiency and resilience in the financial system

Union of Arab Banks and Australian EarlyBirds Marketplace to bring Actionable Innovation to the Arab states

The UAB Digital is uniquely positioned to act as a service provider to UAB members and will play a catalytic role towards achieving world-class innovation and a fully transformed financial services sector in the Arab states.

Dubai Chamber webinar examines legal implications of Covid-19-related business debts

Webinar highlighted strategies for recovering outstanding debt, negotiating settlements and rescheduling payments.

Saudi banks’ profitability witnessed improvement in Q1 2020

Following the Q1’20 results major banks have also reduced their FY’20 guidance acknowledging the tough market conditions.

Kuwait authorities crackdown on money laundering cases

Investigations reveal wide-ranging relations between Kuwaitis and Kurds

Saudi company sues Natwest over ‘$5m scam’

It claims that after the payment was made, large amounts were subsequently transferred

Saudi's new corporate law will see creation of more flexible companies: Official

New models of companies include simple joint-stock companies, which will have the characteristics of joint-stock companies featuring flexibility in raising capital or in issuing different types of shares

Turkey's financial regulatory agency fines 7 brokerage houses for violating short selling ban

Short selling occurs when an investor borrows a stock and sells it on the open market, planning to buy it back later for less money.

Ahli Bank offers ‘Comfort Loan’ scheme

Commenting on the scheme, Muneer Al Balushi – AGM- Head of Retail Distribution, Ahli Bank said, “Ahli Bank always looks at providing new schemes and product offerings to its customers.

UAE corporate scandals require a clean up

Laws are in place to plug gaps and need to be rigorously enforced for true governance

Swisspartners exits single markets in Africa, South America and Turkey

While the company is hiring in Geneva and Zurich, some of the services it provides in these two cities may no longer be needed.

Credit guarantees will boost SME lending in UAE, but risks remain for banks

Other measures include reductions in business fees including trade license costs and the option to delay VAT payments.

Vodafone Egypt deal delay beneficial: Expert

STC said it would extend the period again — to September — for the same reason.

Legal, Tax, Regulation & Compliance