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

UAE banking sector resilient because of government support

With adequate measures in place, the UAE Banks Federation is confident that the current crisis will be overcome

Finance minister: Saudi Arabia facing current global crisis from position of strength

He pointed to the country’s huge reserves and relatively low debt obligations as factors that would allow it to withstand the slowdown of the world economy due to the coronavirus pandemic.

Qatar government debt ‘mitigated’ by ‘credible’ currency peg: Moody’s

The national airline, Qatar Airways, which Moody’s expects to post losses as a result of the global coronavirus pandemic, has debt of only around 3% of GDP.

Abu Dhabi Government ties up with banks to expand SME financing

The deal with FAB, ADCB and ADIB will enhance support for smaller business to withstand market fluctuations

UAE banks told not to terminate Emiratis or cut their salaries due to coronavirus

Emiratisation drive in the financial sector postponed.

Insurance brokers in UAE offered capital relief

It will help firms meet their operating expenses during the coronavirus outbreak

Legal challenge seen in rush to cut pay in Kuwait

Central Bank of Kuwait aims to reduce salaries and benefits of top banking officials

UAE advisers split on game changing regulation

With one-in-10 chief executives considering their exit strategy

Arab Africa Trade Bridges Program Outlines Actions to Support Developing Countries Cope with the COVID-19 Crisis

Initiatives focusing on pharmaceuticals and healthcare and other value-added sectors such as agriculture and textiles to take precedence

Turkey’s banking watchdog slashes limits on banks' FX transactions

Those with a maturity of 30 days were reduced to 2% of the banks’ equity.

UAE banking sector joins law enforcement agencies to fight fraud

CBUE, UBF, Abu Dhabi Police and Dubai Police launch national fraud awareness campaign

Qatar Airways, Standard Chartered sign $850mn financing deal

At Standard Chartered, we continue to support our clients and communities despite the ongoing challenges with Covid-19 and are proud to have been able to provide Qatar Airways with this financing.

QFC announces new measures to support its firms

The updated rates would ensure that any QFC firm that extends their filing due date would not suffer any late payment charges until August 31, 2020

COVID-19: Dubai to cut property service charges this year

RERA confirms the move to lower cost burden on home owners

Banks can't save Gulf economies

The state looms large over the financial sector in the Gulf, and this crisis is underscoring the limitation of GCC governments to spur organic growth in the private sector.

#TogetherAgainstFraud: UAE launches fraud awareness campaign amid COVID-19 pandemic

Globally, fraud and cybercrime are expected to rise further.

IMF warns ‘vulnerabilities high’ in the Middle East hit with dual shock of coronavirus and oil plunge

That’s worse than the Fund’s forecast for the world economy, which is expected to contract by 3% this year.

UAE central bank urges commercial lenders to use stimulus scheme

Since the launch of the support scheme on March 14, the central bank has provided 10 billion ($2.72 billion) dirhams to banks in the form of zero interest funding

Egypt postpones Banque du Caire stake sale due to coronavirus: chairman

The sale would be Egypt’s biggest sale of state assets since 2006.

Jordan's banks to cut rates by 1.5% to spur economy hard hit by COVID-19

The central bank had announced a package of measures to help troubled businesses and individuals

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