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

Dubai Called Out for Being “Money-Laundering” Capital of the World

The United Arab Emirates, in contrast, was hailed by the group for being the "least corrupt" country among its Arabian neighbors and on the Northern African peninsula.

Debts of Qatar, Turkey paid in full: CBE

This came during the Committee on Economic Affairs' meeting, which is currently being held to discuss a request to clarify the inflation of the state's debts internally and externally, resulting in huge burdens on the generations to come.

CBK working on ‘draft law’ to appoint independent Shari’a Supervisory Board

Legitimate bodies contradict this view

Kuwait - Privatization is another means to bridge deficit

Implementation of Kuwaitization policy in the oil sector by 80 percent is getting us nowhere.

ADX signs MoU with Securities Depository Center Company in Saudi Arabia

The agreement is part of ADX and EDAA continuous efforts to enhance their regional standing and implement the highest standards of governance and transparency in the listing process.

Gulf Bank Shareholder Aims to Build $880 Million Stake in Lender

The Alghanim family holds about 20 percent of Gulf Bank through Alghanim Industries, Alghanim Trading and Bassam Yusuf Alghanim.

Central bankers’ hunger for gold could signal price turnaround

The banks “were not net buyers even a decade ago,” said Juan Carlos Artigas, director of investment research at the World Gold Council, in a telephone interview.

Dubai regulator suspends wealth management firm's licence

The DFSA’s public register has been updated to reflect the license suspension, and a decision notice has been issued on its website.

Saudi government reserve drops by near $23bln in Q4 - official figures

Saudi government reserves have more than halved to $132.2bln over the past four years, central bank statistics show

Is Brexit good news for the GCC?

One of his goals, he says, is to bolster these relationships by lending British expertise to the various ‘vision strategies’ and transformation agendas that GCC governments have embarked upon, such as Saudi Arabia’s Vision 2030 and the U

12 fined Dhs1.96 million over bank scam

Three gang members approached a telecom company clerk (29) and offered him a Dhs10, 000 bribe to confirm the Indian’s telephone number was correct.

Saudi prince’s anti-corruption sweep ends with $106B netted

Analysts and critics said it was also a way for the prince to sideline potential rivals and consolidate power as he prepares to inherit the throne from his father, King Salman.

Dubai regulator secures $52,500 fine through British courts

Insurance intermediary boss failed to pay after firm was caught advising clients outside the DIFC

Digital giants ‘profiting’ from settlements; call to oppose Eurovision

Israeli public security minister Gilad Erdan threatened to bar Amnesty from access to the Jewish state over its charge.

DFSA joins launch of Global Financial Innovation Network

The DFSA is proud to have been a founding member of the GFIN

Turkey central bank trims 2019 inflation forecast

Central bank cuts its 2019 inflation forecast to over 14 percent while vowing to keep tight monetary stance until current fast rising prices fall back.

Agusta accused deported from UAE

Lawyers of Saxena claimed that he was picked up by UAE authorities in the morning and "illegally extradited" to India.

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.

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