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

QIB launches new Sustainable Deposit

Adhering to all applicable Absolute Mudaraba regulations, adding the exclusive allocation of funds

UAE’s central bank cancels broker’s license over non-compliance

Firm's name has been removed from the official register

Gulf central banks may slash rates for first time in two years

In its GCC fixed income market outlook for 2024, Kuwait-based Kamco Invest says the point of divergence between central banks is the size of cuts expected during the year

DIFC, Guernsey Finance collaborate to unlock dynamic economic growth

The agreement fosters sustainable finance innovation within the two International Financial Centres

Egypt plans to issue bonds in local currencies of New Development Bank members

Egypt plans to issue bonds in currencies of the members of the New Development Bank (NDB), including green, blue, social, and sustainable bonds, Minister of Finance Mohamed Maait said on Sunday during a meeting with the bank’s Vice President Vladimi

Kuwait banks set stringent rules for expat loan approval

The banking policy reflects a growing appetite for low-risk ventures, resulting in a hesitancy to accept unstable financing.

Allen & Overy advises lenders on the Damietta port project in Egypt

The port of Damietta is strategically situated close to the Suez Canal, with direct road connections to Cairo, Alexandria, and the Nile Delta

CBUAE cancels the licence of first insurance brokers company

The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the requirements of Article (9) of the aforementioned regulation

UAE businesses can be fined up to Dh1 million under amended consumer protection law

New regulation includes 43 obligations for companies

Meta appoints Dentons to new EMEA Panel

The firm's global relationship with Meta has developed through years of collaboration.

Bank Nizwa signs agreement with Oman Housing Bank to provide Sharia-compliant Home Financing Solutions

The strategic initiative aims to expedite the approval process for citizens’ pending housing finance applications with OHB and the Ministry of Housing and Urban Planning

Pamphlet promoting Bermuda in Middle East costs $60,000

The cost for the publication is allocated for under the Economic Development Department’s budget.

UAE Corporate Tax: Guidelines issued on forming 'tax groups' - what should business do?

Family businesses with subsidiaries, extensive cross-holding should give serious thought

Abu Dhabi International Arbitration Centre launched in ‘timely’ reform

ADCACC has been administering arbitrations pursuant to procedural rules issued in 2013, under which the default seat is Abu Dhabi and default language of the proceedings is Arabic.

E-payment, collection services exceed $263bln in Egypt: Finance Minister

The government has adopted a national strategy to create a digital state, shifting from paper-based to electronic work processes.

NBK calls for protecting seniors from fraud with the help of younger generations

Pursuing its advocacy of the “Let’s Be Aware” campaign

New media law brings UAE ‘into digital age’

The legislation also sets out “the importance of maintaining individual privacy”, as well as incorporating measures to reduce the promotion of “destructive ideas” and the abuse of young people online, Hayward added.

Sharjah Ruler approves emirate's 'largest budget' with $11.1bn expenditure

Nearly 26% of the 2024 budget has been allocated for wages

SAMA’s total assets in November reach $485.64tn

The bank's net foreign assets went up 2.89 percent in November to reach SR1.568 trillion.

Tax rules clarified for UAE entrepreneurs earning over Dhs1 million

Any individuals earning over Dhs1 million per year through their business activities will need to register for corporate tax and appropriately declare their income

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