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

Oman to introduce Common Reporting Standards

The Sultanate is also taking steps to ratify the relevant instruments under the Base Erosion and Profit Shifting framework.

FMS.next has been enhanced to support PSD2 and Open Banking requirements

The solution comes with a preloaded set of APIs to cover requirements of directives, implementing all necessary security mechanisms for authentication and consent management.

MOF Debt Management Office wins three "GlobalCapital" Awards

The awards were received by Sultan Al-Khalil of DMO's Financial Institutions and Investor Relations Department and Abdulaziz AlHebaishi of DMO's International Issuances Department at the annual awards ceremony held in London

Dubai Issues New Financial Centre Insolvency Law After Abraaj Collapse

The new law introduces a "new debtor in possession bankruptcy regime" for debtors that have filed for bankruptcy but still hold assets, according to a statement on the Dubai's ruler official website.

Invest in Sharjah to hold 5th FDI Forum in November

Discussions will explore existing and emerging opportunities in major FDI sectors in the UAE and the region

Executives in Dh619m share fraud ordered to pay Dh1.24b

Ex-chairman and ex-director of government-owned entity jailed 15 years and 10 years

Tax authority looking into Israeli accounts in Cayman Islands

Thousands of Israeli-held accounts in the popular Caribbean tax haven are under review, says Israel Tax Authority Director Eran Yaakov.

Qatar imposes restrictions on UAE bank over 'currency manipulation' probe

QFC said in March that FAB had failed to produce documents relevant to the currency manipulation investigation.

Former Pakistan President Asif Ali Zardari arrested in fake bank accounts case

Pakistan’s most powerful opposition leader arrested after bail rejection in bogus accounts

Saudi Crown Prince's economic policies baffle local private sector: Report

Policies led by Crown Prince Mohammed bin Salman have alienated a once-friendly local business class

Dubai Islamic Bank Board Recommends Buying Local Competitor

The deal would create a lender with about 278 billion dirhams ($76 billion) in assets.

Shuaa Capital nears merger with Abu Dhabi's ADFG

Shuaa chairman resigns from the board to take on the group chief executive position in the combined entity

ABX wins approval for crypto asset exchange and custodian

Hirander Misra, chairman and CEO at GMEX Group and vice chairman at Arabian Bourse, believes that the partnership will bring proven market expertise and technology, with a deep understanding of the exchange landscape in the Middle East.

Qatar Imposes Additional Restrictions on UAE's Largest Bank

In a statement on Sunday, QFC said the new bar was "because FAB continues to fail to satisfy the Regulatory Authority of its fitness and propriety in respect of its conduct in the QFC".

Here We Go Again by Gary Dugan

Mario Draghi said that the Council' would use all instruments at its disposal' including a rate cut if necessary.

Emaar signs MoU with China’s BNA

The mixed-use project will be located within the Aero-Economic Area of China’s latest airport

KFH Group achieves leading positions in arranging Sukuk issuances globally and regionally

Value exceeding $5bln

VAT update: recovery procedure in the UAE and 2020 SAF-T confirmed in Norway

Need to catch up on what’s happening in the world of VAT and wider tax updates? Here’s a summary from our global tax team.

Implementation of tax transparency initiative delivering concrete and impressive results

Voluntary disclosure of offshore accounts, financial assets and income in the run-up to full implementation of the AEOI initiative resulted in more than EUR 95 billion in additional revenue for OECD

The Innovators 2019: Cash Management

With creative deployment of technology, banks are competing with tech firms while helping corporate and retail clients manage their cash.

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