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

UAE Exchange starts issuing refunds – report

UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March

FAM Properties responds to Damac legal claims

The dispute began when the developer received complaints from clients about e-mails sent to them by FAM Properties

Mashreq provides help to a quarter of its retail clients through Covid-19 scheme

The lender says most requests are for payment holidays on credit cards and personal loans

English High Court rules former Leeds United MD David Haigh rebranded as #FreeLatifa “human rights lawyer“ a “fraudster”

High Court rules to retrieve Haigh’s hotel and farm, bought with embezzled funds.

Lebanese PM: central bank to intervene to protect Lebanese pound

The pound has lost more than half of its value since October.

Doing business in The United Arab Emirates

The population of the UAE has tripled since 2000 to nearly 11 million, 90% of whom are foreign-born workers employed in a wide range of industries.

Emirates NBD and Urban partner to create a financing program

Following the partnership with the bank, Urban tenants can now look forward to paying their rent on a monthly basis in any Urban property through a customised rental loan, thereby enabling them to enjoy payment flexibility and convenience.

Dubai’s ICD faces ‘adjustment’ in wake of pandemic downturn

In addition to Emirates NBD and the Emirates aviation business, the ICD also holds several other assets regarded as the jewels in the crown of the Dubai business scene.

GCC banks consolidation drive to continue in 2020, says KPMG

Credit growth is not expected to pick up significantly from last year given the economic impact of Covid-19 and significant fall in oil prices.

Fraudster David Haigh loses English court action to avoid $6m debt recovery

'No realistic prospect of convincing court that allegations of fraud were incorrect'

Kuwait banks are fully committed in their fight against money laundering and terror financing

Financial penalties up to a maximum of $1.6mln

Fiscal Nightmare Ties Up Kuwait’s Stimulus With 40% Deficit

A government announcement this week that could result in added assistance for Kuwaitis in the private sector might stretch the budget deficit further.

Moody’s affirms QIIB rating at ‘A2’ with stable outlook

In its affirmation of the bank’s rating, Moody’s indicated that it was based on a number of factors, the most important of which is that QIIB is one of the leading Islamic banking institutions in the State of Qatar, especially in the retail se

Dentons four-day week gets go-ahead

Staff vote in favour of move to curb financial impact of pandemic

Egypt says proposed standby funding from IMF aimed at helping businesses

“The 2016 programme was more on the fiscal and monetary side,” Saeed said. “After the success of the first phase of reform, we are continuing the structural reform programme.”

Qatar Central Bank announces Eid Al Fitr holiday

The bank said in a circular that all financial institutions operating in the state must fully close all its branches during the vacation period.

New banking regulations threaten press freedom in Turkey

Recent measures seeking to limit damaging information on the financial system pose new threats to press freedom in Turkey.

BNP Paribas’ FX Prime Brokerage Unit Halts Turkish Lira Trades

The decision comes barely one week after Turkey’s regulator lifted a ban they imposed earlier this month on BNP Paribas.

Turkey exempts Euroclear, Clearstream from trade limit

2 financial institutions exempted from Turkish lira transaction limit, says banking watchdog

Turkish state owned Vakifbank obtains banking licence from Qatar

Permission to operate comes as opposition claims Doha is planning to buy shares from the bank

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