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

ADGM Launches Crypto Asset Regulatory Framework

The new ADGM crypto framework instils proper governance, oversight and transparency over crypto asset activities

Here’s what you need to know about the new UAE banking fee regulations

It’s good news for homeowners and anyone with a credit card

UAE regulator asks listed companies to declare exposure to Abraaj

Al Zaabi said some companies in the UAE had exposure to Abraaj, without naming them

Middle East Legal Awards 2018 – Banking, Finance and Restructuring Team of the Year: Stephenson Harwood

What Iraq needed was twofold: support with several financings and refinancings, and an economic restructuring that would help plug its budget deficit.

DIFC welcomes three global firms

Berkshire Hathaway, State Street Global Advisors, and Maybank Islamic join DIFC community

UAE Central Bank caps retail banking fees in boost to expat-friendly economy

Central Bank sets maximum limit on retail consumer-related banking services such as home loans, credit cards

T Rowe's Bell: untapped Saudi Arabia potential is huge

The widely-expected IPO of the country’s oil giant Aramco would likely see a doubling of the initial Saudi weighting

UAE cbank sets new caps on banking fees

The caps have been introduced as part of an amendment to 'Annexure 2' of the 'Regulations Regarding Bank Loans and Services Offered to Individual Customers (2011)', the report added.

Global financial firms join DIFC community

Berkshire Hathaway, State Street Global Advisors, and Maybank Islamic Set up operations

Emirates NBD signs with Amwal Brokerage for general clearing member services

UAE-based Amwal Brokerage has signed up as trading member to avail the bank’s settlement and clearing services.

Banks should give better incentives to save in the UAE

Readers discuss the economy, Afghanistan and North Korea

Managing Egypt’s Assets

Planning Minister Hala al-Saeed said the bill gives the fund the authority to establish sub-funds and contribute in similar Arab funds.

Who stands to benefit from the UAE's visa and investment rules?

It is the latest in a series of reforms by Gulf nations to diversify their economies and boost growth, as many try to decrease their reliance on oil.

Talks over three-way Qatari bank merger collapse

Qatari regulations do not allow a bank to operate both types of lending, so IBQ would have had to convert its business to being Sharia-compliant should the deal have gone ahead.

How UAE rate hike will affect businesses, consumers

In short, higher finance rate will make properties more expensive for residents and foreign investors, while the higher cost of bank funding for projects will result in a corresponding price increase from the side of developers.

Banks and Cryptocurrencies Global Evaluation: The Middle East

Sharia law places strict guidelines on economic activity whereby value must be attributed to real, physical assets.

‘Dubai leak’ exposes $110m dirty money

The leak has been used to identify 44 properties worth $28.2m (£21m, €23.8m) “directly associated” with individuals named in US sanctions and a further 37 properties worth $78.8m connected to them via their networks.

Bahrain grants regulatory sandbox license to Dubai cryptocurrency exchange Palmex

A regulatory sandbox is a framework and process that facilitates the development of the financial technology (fintech) industry in a safe and calculated way.

Kuwait Central Bank directs banks to provide investment data on quarterly basis

The Central Bank of Kuwait has issued a circular for banks operating in accordance with Islamic Shari’a, requesting them to provide direct investment data on a quarterly basis in a collective manner

Kuwaiti public entity aims to liquidate Cayman-registered firm

The Abraaj Group made headlines in February, when the Wall Street Journal reported that the Bill & Melinda Gates Foundation and other investors hired a forensic accountant to look into possible misuse of money

Legal, Tax, Regulation & Compliance