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

New rule for UAE banks for issuing cheque books

Banks have been also encouraged to advise their customers to minimise the use of cheques.

BSP, AMLC and the Kuwait-Dubai money feud

Two Kuwait government entities, the country’s port authority and pension fund, reportedly invested around $200 million in the Port Fund.

Dubai Financial Market updates Sharia standards

The DFM became the world’s first Sharia-compliant exchange in 2007 and its standards, the first of their kind, thoroughly explain Islamic investment instruments such as sukuk, shares and green investment funds.

Exempted companies to operate locally

With the proposed legislation, the Cayman Islands government is reacting to pressure from the European Union, which considers parts of Cayman’s tax regime as harmful.

Israel Admitted to Global Anti-Money Laundering Organization

Israel’s accession to the 38-member international anti-money laundering body marks a notable turnaround from 2002, when it was still on the FATF’s blacklist of tax havens.

Abu Dhabi Police warn against fake banking websites

Urge public to be cautious of links handing out special offers

ICAEW recognises Middle East's best finance professionals

Industry professionals from across the Middle East attended last night's gala event, which included keynote address from Frank Gardner, BBC's Security Correspondent and British journalist.

Aleema to face money laundering case if evidence found: adviser

The prime minister's sister was slapped with a double penalty (taxes and fine) because she did not disclose the said property worth around Rs74 million.

CBK prepares draft law regulating bankruptcy & restructuring banks

Move to promote financial technology industry

CBRE and Excellerate Announce Plans for Africa and Middle East Joint Venture

The formation of CBRE Excellerate is subject to customary closing conditions, including government approvals, and is expected to be completed in the first half of 2019.

Bahrain cbank issues final rules on open banking

Open banking services entail the provision of two broad categories of services, said the top official.

DFSA signs MoU with Bank Negara Malaysia

The MoU anticipates the presence of Malaysian institutions, including those offering Islamic Finance, in the Dubai International Financial Centre, and formalises arrangements for regulatory cooperation and establishes a framework for exchange of informati

Dubai’s ruler snubs Kuwait request to release frozen funds

Kuwait’s prosecutors have charged two Port Fund directors for allegedly embezzling funds that the Kuwait Port Authority and the Public Institution for Social Security had invested in Port Fund.

Court cuts penalty in Dhs1.4m scam bid

The Criminal Court jailed the businessman, official and banker for three years plus deportation and ordered each to pay Dh14, 000 plus a Dhs5,000 fine.

Dubai Financial Market Signs Memorandum Of Understanding With Awqaf And Minors Affairs Foundation

It is noteworthy that DFM has launched a securities endowment service in 2017 as part of the “Year of Giving” initiatives and has accelerated its efforts to promote the securities endowment culture this year as part of the “Year of Zayed

Etihad Credit Insurance partners with Natixis to expand UAE businesses' global footprint

The areas of cooperation between ECI and Natixis include support for UAE businesses by educating them through a series of seminars and workshops on commercial and political risk mitigation, mutual collaboration in export finance solutions, and the exchang

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