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

Tariq Alharbi on his learning curve at Saudi consultancy Awtada

Tariq Alharbi reflects on his growth journey at Awtada, and how its inclusive environment encourages other young professionals to follow in his footsteps.

10 mistakes to avoid when oboarding independent talent

A growing number of organizations are turning to the independent talent economy, which is experiencing significant growth globally and in the MENA region.

Global 2% wealth levy a starting point for taxing super-rich, says proposal author

Zucman, who founded the independent EU Tax Observatory, was commissioned by the Brazilian G20 presidency to present a report on the issue for discussion by the finance ministers of the world's 20 largest economies at a meeting in July

UAE Central Bank Implements Open Finance Framework

A number of jurisdictions globally have introduced open banking regimes.

UAE businesses: Don't miss new Corporate Tax deadline to avoid fine

Failure to register within the specified timeframe will result in a Dh10,000 penalty

‘Central Bank Digital Currencies’ can boost Middle East’s financial inclusion: IMF

CBDCs are a form of digital money issued by a central bank, distinct from cryptocurrencies.

First Abu Dhabi Bank bolsters CLM operations with Fenergo

This will help the bank reduce silos, increase transparency and ensure greater cross functionality between technology, data and operations teams.

Central Bank of Kuwait Adds New Firms to E-Payment Services Providers, Systems Operators Register

In light of CBK’s strategy to develop qualified national cadres in the banking sector and the national economy

Turkey’s Central Bank prepares to distribute newly minted five-lira coin

Turkey’s Central Bank is preparing to inject the newly minted five-lira coin into circulation following the week of the Eid Al-Adha holiday.

Aspen Digital receives in-principle approval for a financial services permission

To operate out of Abu Dhabi Global Market

Ajman Department of Finance and Federal Tax Authority discuss strategic partnership during meeting

This meeting falls under the cooperation agreement between the Ajman DOF and the FTA, which provides an effective framework for joint efforts

Federal Tax Authority issues Public Clarification on the Registration Timelines for Taxable Persons for Corporate Tax

To further explain and clarify the specific deadlines for the different categories of Taxable Persons subject to Corporate Tax

ADGM and the Bermuda Monetary Authority sign a digital assets MoU

The MoU creates a framework enabling the collaboration between the BMA and the FSRA to support the establishment of digital assets entities across their jurisdictions and ensure their effective supervision

Qatar Central Bank’s foreign reserves surge by 3.96% in May

Gold reserves notably surged by about 7.276 billion riyals as of the end of May 2024 compared to May 2023, reaching 28.327 billion riyals.

The CMA calls for public consultation on the development of the provisions regulating of listed companies shares

It is worth noting that the regulations of the Companies Law for listed joint stock companies specify the approved quantities of shares that a company can buy or sell.

Zand Bank and MANTRA sign landmark MOU

The collaboration between these two entities will also focus on developing frameworks to support tokenization and distribution of RWA, in compliance with the Virtual Asset Regulatory Authority of Dubai

Turkey plans to tax gains from stocks, crypto - report

Plan intended to shore up country’s budget, according to Bloomberg

QCB issues treasury bills, Islamic sukuk worth QR4 billion

The total value of bids for the Treasury bills and Islamic bonds reached QR 11 billion.

SFC meets Capital Market Authority and Saudi Tadawul Group in Saudi Arabia

They also explored a potential supervisory Memorandum of Understanding and exchanged views on a range of issues of mutual interest

FSA participates in meeting on sustainable financing and fintech challenges

The meeting of GEMC discussed issues related to enhancing the capabilities of the employees of the regulators and investor protection.

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