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

United Arab Emirates Regulatory Update

The Abu Dhabi Global Markets Authority adopted several amendments to their Commercial Legislation recently in a bid to align with the international best practices.

Qatar attends Arab finance ministers' meeting

The State of Qatar is taking part in the meeting with a delegation headed by HE Qatar's Permanent Representative to the Arab League ambassador Ibrahim bin Abdulaziz al-Sahlawi.

UAE monetary base up to AED396.2 bn in May

The CBUAE's current account balance reached AED25.1 billion in May 2019, with banks' required reserve standing AED126.3 billion.

ALAFCO closes $470m 5 year unsecured Murabaha Facility

This transaction demonstrates the belief and confidence our partners have in ALAFCO, and we welcome them as we seek to develop long-term strategic partnerships going forward.

People problems between the Gulf and the Horn of Africa

Migration trends threaten to exacerbate the region's socioeconomic troubles.

Can Istanbul's New Mayor Stem Turkey's Capital Flight?

The election for Istanbul's mayor on June 23 was a rerun of a previous election in March.

Bank of Bahrain and Kuwait hires banks for potential dollar bond sale

The Bahraini lender is 52.1% owned by Bahrain and Kuwait government entities.

BCI Group Sign Agreement with Palestine Monetary Authority

To Connect with the Credit Registry System

UAE's biggest lender FAB to shut Qatar operations amid row with Doha

The bank started its Qatar operations with a branch in November 2008, which was upgraded in April 2011 to provide full-fledged wholesale banking business.

Luxembourg-Based Fund Maor Closes First Israel-Focused Fund

Maor’s mission is to explore and invest in the leading technology ecosystem of Israel while bridging the gap between Europe and Israel.

UAE economy grows 2.2% in Q1 as non-oil sector maintains momentum

The non-oil economy grew 1.6% year-on-year in the first three months of 2019, according to central bank data

New system to curb money laundering in UAE

goAML, a ‘one-stop solution’, launched to crack down on organised financial crimes

Saudi Arabia Full member of the Financial Action Task Force

In 2015,the Kingdom received an invitation from the FATF to join the Group as an observer.

Saudi Arabia's expat permanent residency to cost US$213,000

You can now live, work and play in Saudi Arabia without a sponsor

The new DIFC Employment Law – key provisions

The New Employment Law does not carry through all of the proposed amendments from the draft law, but introduces some new provisions.

UAE first to launch UN-developed anti-money laundering platform

The UAE is the first to launch the goAML platform in the GCC

Financial laws compliance is a must for companies in UAE

Biggest challenge companies face is implementation as it entails additional costs

Saudi Arabia, Japan sign new agreements

Japan is the Kingdom’s second-biggest source of foreign capital and its third-largest commercial partner

Dubai regulator warns investors about Cyprus scam

Fraudsters impersonating island’s financial watchdog

Former Barclays boss cleared in Qatar fraud case

Mr Varley has been acquitted on both counts.

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