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

UAE banking system’s capital ratios remained well above capital requirements in Q4-23: CBUAE

The specific provision coverage ratio edged higher to 60.6% while the total provision coverage ratio reached 93.7%

CBUAE downgrades its growth projections for 2024, saying economy will grow 4.2%

The revision is down from the previously anticipated 5.7%

Swiss regulator finds subsidiary of Lebanese bank breached money laundering obligations

Lender one of several under investigation over ties to former central bank governor Riad Salameh

Allen & Overy opens office in Saudi Arabia

A&O’s Riyadh office will be an integral part of the firm’s global network, consolidating its position in the Middle East for top-end complex work.

Saudi Arabia, Bahrain sign MoUs to boost transportation cooperation

Saudi Arabia and Bahrain are continuously exploring partnership opportunities across various sectors.

Federal Tax Authority enables taxpayers subject to corporate tax to submit registration requests

At 23 government service centres across Emirates

Qatar Central Bank maintains current interest rates

The decision aims to keep interest rates at levels appropriate for supporting economic growth.

UAE’s Tungsten secures FSRA licence to transform custody for $23bln digital assets sector

Authorised specialist will safeguard digital assets with state-of-the-art security and regulatory compliance

UAE hospital operator NMC Healthcare reaches out-of-court settlement with Dubai Islamic Bank

This puts an end to all outstanding litigation DIB had launched against hospital firm

PwC signs major digital consulting MoUs in Saudi Arabia

Technology transformations are pivotal in turning the Saudi Vision 2030 into a reality.

Dubai: Will customers pay more after 20% new tax on foreign banks?

While finance houses could revise their fees to manage profit margins, the competitive nature of the banking sector might limit their ability

Tax leaders and experts convene at KPMG’s MESAC Tax Summit

One of the main topics on the agenda was the rapidly evolving regulatory landscape

Director of Fintech & Innovation Unit at CBB named in Women in FinTech Powerlist 2023

Ms. Al Sharaf was selected amongst 10 women from across the globe for the ‘Policy Makers and Regulatory Experts’ category

QFC signs MoU with CISI to build talent

The MoU was established to facilitate the upskilling of the workforce within the QFC and the broader financial services industry.

Hundreds of experts convene at KPMG Future-ready Tax Summit on navigating the evolving tax environment

The Summit brought together nearly 300 C-suite executives, leaders of tax and finance functions and KPMG senior executives

Baker McKenzie Wong & Leow Advises APG and Abu Dhabi Investment Authority

The transaction is the latest addition to a series of high-profile infrastructure deals Baker McKenzie has worked on in Indonesia.

Africa Specialty Risks doubles parametric capability

The parametric approach to reinsurance championed by ASR facilitates the flow of capital to support vulnerable populations.

UAE Gets the All Clear From the FATF

That small step has significant implications.

Baker Tilly Middle East hit with $50,000 fine by ADGM for 'serious failings' in 2 audit works

ADGM's Registration Authority penalizes firm, its principal for two audit works

Saudi Arabia’s Civil Code: exceptional unforeseen circumstances and reallocation of risk in construction contracts

In an era marked by global shocks and unforeseen events, exposure to situations that defy traditional risk assessment remain a significant risk for construction industry participants.

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