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

Saudi central bank shrugs off weaker growth forecast as tourism sector heats up

The International Monetary Fund this month cut its economic outlook for the region, citing a downward revision to Saudi Arabia’s own projection

Saudi SAMA launches licenses for non-bank financial institutions -statement

The move to license financial technology companies was aimed at opening financial services to non-banking actors and supporting development of the national economy

French experts expected in Seychelles to examine tax haven blacklist issue, president says

Faure said that a national committee has been established to look at relevant laws as well as the relationship Seychelles has with the European Union and the OECD -- the Organisation for Economic Co-operation and Development.

Egypt- World Bank Group, Partners launch new initiative to expand A2F for MSMEs, drive growth, jobs in MENA

As a result, MSMEs in MENA have among the lowest levels of usage of bank loans in the world, the statement said.

Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole

Central Bank of Iraq approves UGH’s acquisition of Bank of Baghdad

The transaction is expected to be completed by 31 March 2020

DIFC firms urged to sign up for new law replacing end of service gratuity or risk hefty fines

New workplace savings scheme to be introduced from February 1

Central Bank of Iraq approves UGH’s acquisition of Bank of Baghdad

The transaction is expected to be completed by 31 March 2020

Banker knew Barclays ‘lied’ over Qatar fundraising

Mr Brown was making his closing submissions in a four-month trial of the most senior bankers accused of criminal acts over the 2008 financial collapse that saw three UK banks rescued by taxpayer money.

CBB warns consumers against dealing with unlicensed institution

This warning comes as a result of a fraudulent institution under the name of “bahrain.bitcoin” on Instagram

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

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