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

Bank for International Settlements to grow membership roster

This is the first such expansion since 2011 and will take the number of members to 63.

Central Bank of Bahrain's new directive to help investors make right decision

The instructions were developed to objectively reflect the financial results of the public shareholding companies and to enable shareholders to evaluate the companies financial performance accurately and comprehensively

Banks are pressing Aramco for bigger payout over IPO, say sources

Aramco decision not to market the deal internationally means most involved banks will reportedly earn below $5m each.

Experts urge investors not to reposition portfolios in wake of 'inferno' Iran-US crisis

Iran's exports are already down from two million barrels per day to 0.5 million barrels per day thanks to sanctions, so there is not that much further to fall."

Dubai Real Estate Firm And Huobi Exchange Partner To Allow Investors To Pay In Crypto

This partnership will provide our clients immense opportunity and the ease of investing in prime locations in the UAE.

Central Bank of Kuwait joins the Bank of International Settlements

Members of the Bank of International Settlements lead global financial policymaking and set global regulatory and supervision standards for banks in order to achieve global financial stability.

IEA cuts oil-demand outlook as economy eclipses Saudi attack

The strike on the Kingdom’s production facilities caused the biggest disruption in modern history, halting about six per cent of world oil supply.

Dubai business licence issuance up 90% in 2019

Dubai has opened new horizons for businesses by restructuring economic activities

Mohammed bin Rashid enacts amendments to DIFC Employment Law and new Employment Regulations to introduce end of service savings plan

The Amendment Law introduces the new Qualifying Scheme workplace savings scheme in the DIFC, replacing the current end-of-service gratuity payment regime that has been in place since the inception of the DIFC in 2004

FAB Signs Escrow Agreement With DLD for Holding Accounts for Jointly Owned Property Owners

The agreement was signed by HE Eng. Marwan bin Ghalita, CEO of RERA, and Manoj Menon, Senior Managing Director and Head of Global Transaction Banking at FAB.

DIFC firms face March 2020 economic substance rules deadline

Although the new rules took effect in the UAE in April 2019, there has been uncertainty over the steps businesses need to take to comply.

Nomura Middle East head: Saudi-Japan business links to move beyond oil

Makoto Kinone talks to Arab News during Japanese Prime Minister Abe’s visit to the Gulf

Sukuk market to continue expanding in 2020, S&P Global

S&P Global expects total Sukuk issuance of around $170 billion in 2020 including $40 billion-$45 billion of foreign currency issuance.

Lebanon’s central bank seeks extra powers

Measures imposed by Lebanese commercial banks needed to be regulated and unified, a central bank letter said

Chase Bank ex-chair's illicit plan to open Somalia bank

The Iman Group was the platform Mr Khan and Mr Cheema planned to use to open a new bank in Mogadishu, Somalia.

Indonesia Secures $22.8 Billion From U.A.E. for Wealth Fund

Abu Dhabi National Oil Co. and Mubadala Investment were among U.A.E. companies which signed agreements with Indonesian firms last year to explore investment opportunities from sectors raging from oil and gas, ports and tourism.

Boubyan & Al-Hisba Ink Strategic Real Estate Market Analysis Agreement

This strategic partnership between the bank and Al-Hisba Real Estate Company will open new horizons for Boubyan Bank’s customers.”

Regulation of Crypto Assets

Crypto-investors and users, as well as crypto-asset service providers, are exposed to high risks.

DIFC introduces new leasing law

The law follows the introduction of several legislative changes at the financial hub such as the insolvency law and the new employment law that replaced the one that had been in place since 2005.

Bahrain liquidity fund deadline for large firms, SMEs

Deadline for applying for support under liquidity fund is January 16 for large companies and March 19 for small and medium enterprises (SMEs).

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