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

UAE Banks Federation Welcomes Recent Laws And Regulations

The attendees expressed comfort with the robust performance of the banking sector as reflected in the strong key financial indicators supported by economy growth.

Central bank's autonomy to set caps on real estate welcomed

"In the past, it was prescribed in the law, so the central bank had no choice but to apply. Today, the Central Bank may say 20 per cent or 10 per cent or 30 per cent overnight," Al Ghurair said.

Emirates NBD postpones bond issue due to market conditions

Bonds in the Gulf region have been under pressure this month due to lower oil prices and geopolitical concerns, although losses have been limited.

KPMG suspended in Oman over 'irregularities'

KPMG said it is cooperating with Oman's Capital Markets Authority to resolve the matter

Bank Sohar issues life insurance policies

“As we work towards becoming Oman’s most customer-centric bank, we continue to extend our portfolio of services and raise the bar on efficiency to add value to our customers’ banking experience."

Iran cut off from SWIFT banking system

SWIFT says decision ‘in the interest of stability, integrity of global financial system’

UAE and Singapore exempt from IOM disclosure rules

Conduct of Business Code exclusions also applied to Argentina, South Africa and Qatar

Allied Investment Partners receives five comprehensive financial licenses from Emirates Securities and Commodities Authority

Allowing it to offer a wide range of financial services

Saudi females boost DIFC private wealth industry

The aim is to attract wealthy investors, entrepreneurs and workers to put down roots.

Careem partners with The Gulf Property Show

Gulf Property Show visitors will enjoy discounted rides to and from the event, which will be held from November 21st till November 24th at the Avenue, Bahrain.

Kuwait Central Bank issues circular against dealing with Iran

The regulatory authority supplied the banks with copies of the report, to enable them to scrutinise their transactions and dealings, in compliance in line with the US sanctions on Iran.

Kuwait asks Dubai to hand back $500 million, frozen following money laundering investigation

The investigation was launched after a "suspicious" money transfer from the Phillipines to the state-owned Noor Bank in Dubai.

ADGM signs mou with Central Bank of Bahrain to promote innovation in financial sector

The agreement was signed in Manama, Bahrain

Bahrain eyes open banking; CBB issues draft rules

This initiative is part of a larger upgrade of the Bahraini financial sector which must remain competitive in the face of demand for connectivity within financial services and with the e-commerce industry.

International bank fined by Jersey court for “intermeddling” in assets of an estate

When the Bank was notified of the Client’s death on 12 October 2017, it attached a ‘no debit’ instruction on all of his accounts, as per its internal procedures.

UAE to adopt legal changes to attract global investors

It is the first such move in the region and is likely to be followed by neighbouring countries who also rely on expats and foreign investment.

Andersen Global Announces Expanded Presence in Saudi Arabia

Alrikaz Tax Consultants has signed a Collaboration Agreement with Andersen Global, expanding Andersen Global’s presence in the country with the largest economy in the region, and paving the way for continued growth.

Sharjah wins top honour for RMB 2 billion Panda Bond

Sharjah Finance Department raised RMB 2 billion, or US$ 316 million, in China’s Panda bond market with a coupon rate of 5.8% in February 2018 and maturity in February 2021.

Bank of Israel Chief to Successor: Make Sure Israel Is Prepared for the Next Crisis

In an interview with TheMarker, Karnit Flug reviews past controversies and successes as she prepares to end her term as Bank of Israel governor

Pay your Dubai fines throughout the year in instalments

Fines for traffic violations can now be paid in three, six, nine, or 12 months.

Legal, Tax, Regulation & Compliance