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

Experts confirm expats in UAE ripped off by unscrupulous IFAs

Mis-selling is a major weapon for these 21st century bandits, with a huge number of expats losing most if not all of their life savings due to their activities.

UAE's VAT collections exceeds expectations by a wide margin in 2018

$7.35bln paid in 2018, surpassing government target of $3.26bln; revenue seen growing more this year

Gulf stock investors may go in for profit taking

After Eid break, region’s stock markets might start mirroring global equity sell-off

Kuwait - IMF and World Bank wolves in sheep's clothing over taxes

Although VAT has hardly been a success story, the IMF now promotes personal income tax as well as taxes on businesses and real estate purchases.

Israel Tax Authority handed details on Cayman Islands accounts

The Knesset Finance Committee passed the regulations facilitating transfers of information to and from Israel in January.

Lebanon lifts banking secrecy in 30 cases

The Special Investigation Commission is the centerpiece of Lebanon’s anti-money laundering and combating the financing of terrorism (AML/CFT) initiatives

Bereaved British schoolgirl will be stripped of £500,000 inheritance after Sharia court in Dubai is told that she is a Christian

The court was told that Paris was a Christian.

Emaar joins hands with Chinese company

Emaar and BNA will work closely to drive diversified collaboration and actively accelerate the share of resources to boost the establishment of the important Aero-Economic Area.

Turkey complies with US sanctions to avert risks

Turkey has been the most vocal of Iran’s oil customers in scrutinising US moves that aim to restrict Iran’s oil income.

Saudi central bank grants licences to 14 fintech firms

Move comes as non-cash transactions continue to account for less than a fifth in the kingdom

The International Banker 2019 Middle East & Africa Awards Winners

The Saudi Arabian Monetary Agency Governor Ahmed al-Kholifey stated that “we have a number of licences in the pipeline right now” and that the bank views this “as a vote of confidence in our economy and in the banking sector in particul

Jefferies to become member of Tel Aviv Stock Exchange

The TASE, which has 22 members, said Jefferies is one of the largest and most significant international players in Israel’s high-tech and biotech sectors.

GCC Summit condemns sabotage acts on ships in UAE

The GCC leaders discussed the dangerous challenges the region is undergoing

Saudi Arabia says firm stand needed to deter Iran, Iraq demurs

Tehran, which is locked in several proxy wars with Saudi Arabia in the region, denies any involvement.

ADIB supports its digitization goals by becoming a member of TRADEASSETS

The Bank will be able to use TRADEASSETS to automate primary and secondary market trade finance pricing and communication on a global scale.

Kuwait Is Risking a Catastrophic Drop in Foreign Investment

Marsha Lazareva’s case raises red flags for foreign investors and could send them fleeing Kuwait.

UAE central bank more pessimistic on 2019 than IMF

In a May 2 statement, the fund said “growth could exceed” 2 percent this year and approach 3 percent in 2020-21.

KFH Ayadi at All Governorates, 24/7

Available in branches, ATMs, KFH GO, Mobi vehicles Available Until First Day of Eid

Israel: Netanyahu’s wife reaches plea deal in corruption case

This was allegedly done using Israeli taxpayers’ money, despite the fact that the residence employs a full-time cook.

Turkey and Kuwait’s close relationship will boost bilateral trade

While Turkey is in a customs union with the EU, Kuwait is in the common market of the Gulf Cooperation Council Countries.

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