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

38 Tax Disputes Filed in Dubai in 2019: Lessons Learned

All objections registered in 2018 and early 2019 before the Dubai tax dispute resolution committee commenced operation were docketed in March 2019.

Treasury yields slide as Middle East tensions spike

Market focus is now consumed by tensions in the Middle East as investors wait to see how Tehran will respond to the killing of Qasem Soleimani, the leader of the Quds Force within the Islamic Revolutionary Guard Corps.

Lebanon bank staff body threatens strike over assaults, insults

Banks have cracked down on the amount of dollars that can be taken out or transferred abroad

Recent Amendments To The Investment Funds Legislation In Turkey

I. General Overview of the Legislation In Turkey, the general rules and principles regarding investment funds are mainly regulated under Articles 52-57 of the Capital Markets Law No. 6362. Additionally, the Capital Markets Board ("CMB") has regu

The New Key Laws Introduced in the UAE to Support Businesses

A number of efforts have been made to diversify away from dependence on oil, creating a very strong services sector

Emirates NBD completes third phase of international core banking systems upgrade

By end-2020, all Emirates NBD entities and markets will be consolidated onto one single, updated core banking platform, enabling the bank to offer new financial services more rapidly across all markets while reducing global IT costs.

Oman Shipping Co. negotiates $80mn financing facility

Completing this transaction with OSC is a testament to the hard work our team and we are well-positioned to build on our track record in this specialised business to assist our clients in 2020 and beyond.”

Saudi mortgage loans soar in 2019, with $18bn offered in year up until November

Figures released by the Saudi Arabian Monetary Authority show number of housing loans was up 254 percent

Commercial Companies Law In Bahrain Amended To Be In Line Of International Market

In conclusion, greater restrictions are included in the CCL in an effort to decrease the level of violations within a company also simultaneously increase protection of interest of the company and its stakeholders.

Kuwait current account surplus hits KD 1.3b in Q3: CBK

Commodity balance surplus nosedives by KD 442.1m to KD 2.57b

UAE’s banking system provides financial facilitations to retail sector worth AED50.4 billion in 9 months

Financing the retail sector accounts for around 32 percent of the total facilitations received by the country’s commercial sector from January to September 2019, totalling AED157 billion.

DED cooperates with DIB to support Instant License holders

Instant License enables businessmen to obtain their commercial licenses in one step within five minutes

Arab World Slow To Embrace Crypto, But Steadily Picking Up

A key factor when analyzing the industry in the Arab world is how nascent industry adoption works within it: From the top down.

Court acquits Kuwaiti man and other individuals of money laundering

He added the Monetary Investigations Unit and the prosecution officer did not determine illegitimate sources of funds and source of the fund in question, which the unit should have investigated.

Machhapuchchhre Bank signs loan agreement Mashreq Bank, Dubai

MBL, which has 145 branches across the country, decided to sign the loan agreement to invest in infrastructural projects and other priority sectors, the bank said in a statement.

Turkey tweaks rules for banks in bid to boost official reserves

The bank has already been trying to support the lira through the swap market.

Cash-strapped Lebanon to probe ‘suspicious’ capital flight

Lebanon’s banks have since September imposed increasingly tight restrictions on dollar withdrawals and transfers

Qatar adopts executive regulations to combat money laundering, terrorism financing

The executive regulations also highlight the pioneering and influential role of Qatar in the region in terms of setting standards for its legal and regulatory framework for combating money laundering and terrorist financing.

Six Saudi organizations claim compliance with GIPS

“The GIPS standards allow firms and asset owners to demonstrate that investment performance reporting meets globally accepted ethical best practices”

Saudi finance ministry boosts Kingdom’s business environment with new law

New government tender and procurement law

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