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

Barclays' lawyers did not object to £322m fees paid to Qatar, court told

Bank’s legal team said to have ‘persuaded themselves’ that agreement in 2008 was lawful

Dubai Has Become A "Money Laundering Paradise" Says Anti-Corruption Group

In a report issued in June last year, C4ADS said it had identified 44 properties worth some $28.2m that were held directly by sanctioned individuals

Dubai Drags Its Heels On Release Of $500m In Frozen Funds, Missing Its Own Deadline To End Dispute

The Port Fund’s lawyers said they had received assurances from the authorities in the UAE that the funds would be released once the Kuwait government approved such a move, but at the time of writing the money remains out of reach.

Yemeni gov't seeks to unfreeze bank accounts in foreign countries

The German ambassador also met with the country's Prime Minister Maeen Abdulmalik and discussed key financial issues and the suitable ways to support the war-torn Arab country economically.

UAE, Saudi central banks to launch common digital currency called 'Aber'

Central banks want to be front-runners in application of technology in their operations

Iran's central bank issues draft rules on cryptocurrency

Government regulators recognise global cryptocurrencies and licensed trading but prohibit it as payment inside Iran.

Hawkamah and IMF Focus on Emerging Central Bank Governance Trends

Global Best Practice Discussions on Board Oversight, Internal Audit and Financial Risk at the Central Bank Governance Forum 2019

Lulu Group eyes for international market inks deal with Swiss real estate

Hailing from Kerala, Lulu Group's chairman is M.A. Yusuf Ali, who now operates out of the UAE.

Qatar National Bank hires arrangers for U.S. dollar bond: sources

A group of banks including Barclays, Deutsche Bank, ING and Standard Chartered have been hired to arrange the transaction, said the sources.

DFSA Enforces Fine in the UK Against Sanctioned Individual

While Mr Grimes did not challenge the DFSA’s findings against him, he failed to pay the fine by the date it was due.

EU puts Saudi Arabia on blacklist for lax control on money laundering

Last year, Saudi Arabia failed to get full membership in the Financial Action Task Force

Barclays deal with Qatar was ‘dodgy’

Court hears bankers admit to worries over fees

Angola’s parliament approves elimination of double taxation with Portugal, China and UAE

Portugal’s parliament last week voted in favour of the motion to approve the Convention on the Elimination of Double Taxation in Income Tax and Preventing Tax Fraud and Evasion between the Republics of Angola and Portugal

UAE Central Bank announces M1 increases by 1.3%

The increase in the money supply aggregate was mainly due to an increase of Dh6.2 billion in monetary deposits.

Dubai Islamic Bank successfully closes USD 750 million AT1 Perpetual Sukuk

The success of this transaction came on the back of an extensive marketing strategy aimed at updating international and regional investors with DIB’s strategy and continued strong financial performance.

What Barclays banker accused of getting £11.8bn secret bailout from Qatar during 2008 crash said to his colleague

Alleged four top executives agreed to funnel £322m in secret fees to Middle East

Saudi Arabia's turbulent years: For how much longer can King Salman shield MBS?

In the four years since King Salman assumed the throne, his son has made a mess of domestic and foreign policy

Qatar believes in strength of GCC: FM

H E Sheikh Mohamed bin Abdulrahman Al Thani said that there is no sign of a breakthrough in the Gulf crisis so far.

KFH, Al-Ahli banks merger to begin

Al-Ahli United Bank also announced that its Board of Directors meeting will be held to consider HSBC and Credit Suisse reports

KFH- Capital arranges $1.6bn sukuk issuances for FAB and DIB

The various structures used by KFH Group in arranging Sukuk, Ijara, Wakala or others, have made Sukuk highly competitive against conventional finance instruments.

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