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

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

Abraaj pressured to restructure $1 billion debt

The petition filed by Auctus follows a separate court request last month in the Cayman Islands from an Abraaj investor

UAE Central Bank halts remittances at seven exchanges

The affected firms failed to regularise their activities during a grace period given by the bank

SHUAA Capital and National Bonds Sign Memorandum of Understanding targeting joint venture in Saudi Arabia

The partnership will support the Government's ambitions to create a thriving financial sector- laid out in Vision 2030

FAB Surrenders its License to Market Non-Omani Securities in the Sultanate

FAB continues to operate and service its customers in the sultanate and reaffirms its long-term commitment to supporting Oman’s economy.

Abraaj audit finds funds mingled corporate and investor cash

Private equity group lacked governance but did not embezzle funds, Deloitte finds

Atlas Jewellery owner let off after 3 years in Dubai jail

He will not be allowed to travel outside the UAE.

Israelis among nearly 500 arrested over alleged online fraud in Phillipines

Suspects allegedly lured victims to invest in foreign stocks, stole money through online app after obtaining bank account and credit card details

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