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

Central Bank of UAE revokes licence of 'Dollar Exchange' house

The sanction is the result of the examinations’ findings conducted by the CBUAE, which revealed serious regulatory misconduct by the exchange house

GCC to appoint chief negotiator next month for trade talks with India – report

The intent of a free trade deal has been announced and meetings will start soon, says a source

UAE, Egypt, Jordan, Bahrain sign industrial deals worth $2bn

The agreements were signed at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development, held in Amman on February 26

Qatar Central Bank issues QR 1 billion treasury bills due on March 2

Central banks usually aim, through the periodic monthly issuance of treasury bills or short-term Islamic sukuk in favor of local banks, to control liquidity rates and the money supply in the market.

'Embezzled' Lebanese cash in Swiss banks: media report

The Swiss weekly said $250 million was left on Raja Salameh's personal account with HSBC's subsidiary in Geneva.

UAE watchdog seeks views on family office regulation shake-up

The regulator wants views of family offices, their advisers, potential applicants for family office status, and other industry participants by 24 March 2023.

Lebanon central bank governor charged with money laundering - judicial source

Charges come after 18-month probe into whether Salameh and his brother embezzled $300m

Dubai International Finance Centre Grows at Record-Breaking Pace in 2022

Combined revenues exceed USD272 mn for the first time

How Abu Dhabi Fund’s first development project in Nigeria will serve the community

The project is expected to stimulate commercial activities and improve transport links between the main cities in the country

ADGM teams up with UAE digital lender Zand Bank to support SMEs

The two entities plan to offer finance training programmes, SME financing platforms and a FinTech sandbox

Saudi policy is to build new sectors not related to oil: minister

Al-Falih spoke at length about the challenges faced by the global economy, as well as the Ministry of Investment and its achievements, the creative industries and the media

Dubai’s DIFC registers highest ever revenue in 2022

The financial centre registered the highest number of new firms – totalling 1,084 – last year

Abu Dhabi Global Market, Zand Bank join hands to support SMEs

The entities will jointly drive UAE national work placements and offer finance training, SME financing platforms, a fintech sandbox and corporate innovation programmes

UAE’s UBF, Azerbaijan Banks Association sign MoU to boost sectoral cooperation

The two parties will jointly organise workshops, training and awareness programmes to exchange knowledge and experience

Sheikh Hamdan approves new model for government excellence in Dubai

The new government excellence model aligns with recent developments in government work mechanisms, including the ‘Services 360’ policy and the Dubai Future Readiness Index

Doing business in the UAE: appointing a distributor

This enables them to benefit from local knowledge and a local distribution network, but navigating the agency laws is important to maintaining a successful and profitable relationship with local distributors.

UAE and Egypt's anti-money-laundering bodies sign pact to boost co-operation

Initial agreement seeks to strengthen existing collaboration between the two countries, UAE's Executive Office of AML/CFT says

Bahrain-Qatar normalization effort picks up steam

The rare sessions are seen as an apparent effort to normalize relations.

Authorities act against two companies for QR24 million tax evasion

The investigations revealed that two companies operating in the contracting sector had committed acts that constitute tax evasion crimes.

Abu Dhabi Businesswomen Council and Wio Bank form partnership

Aims to empower female entrepreneurs with business banking solutions

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