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

Bahrain to allow private employers to hire foreigners after four-month suspension

Beginning Aug. 9, employers in the private sector can resume hiring workers from abroad.

Employment disputes in Dubai and the DIFC courts

Regardless of the court system and procedure that will apply to the claim, the company will face certain obligations and financial costs.

Turkey under pressure as inflation forecasts rise

Economists expect higher inflation by year’s end, after it edged up to 12.6 percent in June.

Walkers Advises The Commercial Bank (P.S.Q.C) of Qatar

The Walkers team was led by Hong Kong partner Nicholas Davies and Bermuda partner Adam Bathgate with assistance from Hong Kong associate Sonya Saxena.

New EBRD loan of €40 million to Turkey’s Aklease

The EBRD financing will also strengthen the resilience of the financial sector and support Aklease as a successful firm in a challenging environment.

Turkey exempts foreign development banks from curbs on TL access

They will also be allowed to conduct repo and reverse repo transactions at the bourse, and lira depo transactions with domestic banks.

Dubai Economy and Emirates NBD go live with UAE KYC Blockchain Platform

The project is fully supported by Smart Dubai and the Central Bank of UAE

Kuwaiti social media influencers named in online money laundering probe

Fouz Al Fahad, Farah Al Hady and other high-profile personalities are part of an investigation into e-commerce site Boutiqaat.com

Uncertain Future For GCC SMEs

Outdated lending practices and a structural focus on government-related enterprises are keeping banks from backing the region’s beleaguered smaller companies.

Kuwait’s draft law on expat quotas to exempt domestic workers, those on government contracts

Under the new proposal, Indians must not exceed 15 per cent of the population of Kuwaitis

HSBC arranges first green export credit agency loan for Saudi ministry

The proceeds of the loan are being used to purchase buses from Germany for the kingdom’s public transport network

DFSA alerts institutions to increased risk of cyberattacks

The DFSA has observed an increase in attacks leveraging known and new malware and a soaring number of newly registered malicious domains referencing COVID-19 since March.

UAE residents warned against divulging bank details, personal information to random callers

Fraudsters continue to be on the prowl to steal data, money

Kuwait Investment Authority goes legal against former officials

Files claims against London office employees for indulging in salary hikes, bonuses

IMF may give Lebanon a smaller funding relief than it actually needs

Reluctance comes as financially strapped nation just can't seem to come up with solutions

Moody’s affirms Barwa Bank’s credit rating at ‘A2/Prime-1’ with ‘stable’ outlook

This rating encourages us to continue our expansion plans that meet the aspirations of our customers and shareholders and promote the Group’s position locally and regionally.

World’s Best Sub-Custodian Banks 2020

Subcustodians make cross-border securities investing possible

Appeals court increases fine on four banks, three officials in money laundering case

The Iranian men and the four Iranian state-owned banks – Future Bank, Bank Saderat, Bank Melli and Bank Saderat, Doha – are all facing charges in five money laundering cases worth billions of dollars in a Bahrain-based bank .

Fraudster David Haigh told he faces jail if he fails to provide financial details to a UK court

A judge has given the former executive of Bahrain’s GFH Financial Group two weeks to provide the documents

Oman picks FAB and Bank Muscat to arrange $2bln loan - sources

The one-year loan would subsequently be repaid with money raised from an international bond

Legal, Tax, Regulation & Compliance