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

AFS named official POS acquirer for The Bahrain International Circuit

The three-year agreement will see AFS embed its state-of-the-art POS acquiring solution across all retail outlets at BIC effective immediately

Kuwait’s central bank should relax rate caps – IMF

While established corporations already borrow at below the applicable lending rate cap, a gradual relaxation could expand access to credit to a wider segment of the corporate sector and SMEs

CBK, ABK and KfW IPEX-Bank lead arrange $650m project finance

The project was tendered under the auspices of KAPP and will be developed by WTE Wassertechnik GmbH (Germany), a fully owned subsidiary of the Austrian State Utility Company EVN, and International Financial Advisors (Kuwait).

Capital, Technical Restrictions on Money Exchange Offices in Saudi Arabia

SAMA will further cash in 0.25 percent fees out of the headquarters and branches' capital.

Andersen Global Expands Middle Eastern Presence; Debuts in Palestine

Collaborating with Sharp & Beyond puts us ahead of the curve and benefits our organization now and long term as it builds upon our growth strategy in the Middle East and positions us for the future.”

Buna Payment Platform To Include Saudi Riyal

Additionally, the Buna Platform applies currency-specific sanctions required by the relevant authorities of the potential currencies.

Saudi Al Babtain inks $26.66mln loan deal with SAIB

Al Babtain's loan agreement has a tenor of three years

Lebanon's bonds fall as debt restructuring decision looms

The sell-off preceded a possible government decision on whether its March bond -- the next due for repayment -- might be included in any debt restructuring.

SecureLink announces distribution partnership with ShiftLeft for GCC and Egypt

The GCC is one of the fastest growing, and most dynamic, regions powering the global economy.

Finance and 'The Sport of Kings'

Total investment in sports marketing in Dubai alone has reached $1.7 billion

Deutsche Bank’s Payments to Saudi Royal Adviser Under Scrutiny: F T

Following the conclusion of the internal investigation, six employees involved with the Saudi payments left the bank

DFSA to become a Signatory to the IOSCO Enhanced Multilateral Memorandum of Understanding: A First for the GCC

The MMoU sets out specific requirements for the sharing of information, and the confidentiality and permitted use of the information shared.

Germany Probes Deutsche Bank Payments to Saudi Royal Adviser: FT

“We caught it, reported it ourselves to regulators and the affected clients, dealt appropriately with the individuals, and made improvements to avoid something similar happening again.”

Hawkamah and IMF focus on key trends impacting the Governance of Central Banks

Central Bank Governance Forum 2020 brings a wealth of global expertise to Dubai

SFO alleges Unaoil agents paid $6mn bribes in Iraq for oil contracts

As the SFO trial began on Thursday, three Unaoil agents faced counts of conspiracy for allegedly bribing South Oil Company

Egypt wants to raise its sovereign wealth fund’s capital to $63bln

To this end, it intends to implement structural plans in promising sectors, mainly manufacturing, wholesale and retail trade, tourism, construction, real estate, ICT, mining and agriculture.

Explainer: Can Lebanon's new government revive the economy?

With many of the international sovereign bonds trading at less than half their face value, market observers see an increasing likelihood of Lebanon struggling to repay some of its obligations and seek a restructuring with creditors at some point.

New report to explore Qatar’s evolving tax regime

OBG will consider what other indirect taxes are likely to follow as the leadership moves forward with its plans to diversify the economy in line with the Vision 2030, such as the highly anticipated Value Added Tax.

Turkish bank probe ‘casts wide net over trading in financial sector’

Two Turkish broadcasters have said that more than 20 banks are involved.

Online facility to reclaim VAT on new homes in UAE

The number of original documents that need to be submitted with the application has been reduced

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