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

DIFC strengthens commitment to Belt and Road with China Everbright Group collaboration

DIFC chosen as China Everbright Group’s platform for growth during successful UAE-China Week

ADGM, South Africa’s CIPC sign MoU

Registration Authority of Abu Dhabi Global Market to work collaboratively with CIPC on issues of mutual interest in the registries sector

New Crack Down On Offshore Tax Dodgers Ready For Action

The UK has 64 tax exchange agreements under the common reporting standard.

Turkish finance minister sees promising outlook for economic growth

The Turkish lira has been hammered this year, losing a fifth of its value against the US dollar, on concerns about the central bank’s ability to rein in double-digit inflation, while Erdogan has repeatedly called for lower interest rates.

The Compliance Complexity Index 2018 - TMF

At the same time, legal and tax teams need to know what jurisdictions are complex for handling compliance issues.

Pressure on Dubai to implement stricter gratuity payment legislation

The financial community in Dubai say stricter laws would help ensure employees are protected in the event their employer goes into insolvency

Financial experts call for new UAE gratuity payment legislation

New legislation will help protect employees in the event a company goes into insolvency, according to local experts

FAB Brings Dubai First Business Into Its Personal Banking Group

At this time, all products and services previously offered by Dubai First will remain the same in terms of proposition, name, look and feel.

UAE advisers may be next for a cold-calling ban

Financial advisers in the Emirates could be caught in a ban on telesales, if a ruling by the country’s property regulator is copied for financial services.

Dubai sees 14% growth in number of registered companies

DIFC announced new companies from various parts of the world joined the centre during the first half of 2018.

Dubai International Financial Centre reports strong start to 2018

Number of active registered companies increased by eight percent in the first six months of 2018

UAE adopt AAOIFI standards

This will also require the revision of existing products and services of these institutions to be in compliance with AAOIFI standards.

Cryptocurrency laws and regulations in UAE

Blockchain technology is a decentralized public or private ledger that records transactions between two or more parties.

Hogan Lovells’ New Asia Pacific and Middle East Head Has Big Plans in an Interconnected World

Miguel Zaldivar is the first American partner to oversee the region for the firm. He wants to improve the interconnection between the firm's practices in the Asia Pacific/Middle East and its practices in the U.S. and Europe.

Bankruptcy reforms ‘will spur Saudi Arabian investment’

Saudi Arabia will introduce its first comprehensive bankruptcy law on Aug. 18

Charges dropped against Abraaj founder over $48m bounced cheque

Rare bit of good news for private equity company fighting for survival

Shuaa Capital, Ajman Bank reveal exposure to Abraaj

A growing number of companies have declared that they have direct or indirect exposure to the troubled private equity firm.

Dubai lenders Mashreq, CBD join FAB in declaring Abraaj exposure

Mashreq Bank owns shares in the buyout firm and its subsidiary, while CBD is exposed through secured credit facilities

Changes to the taxation of UK property for Middle Eastern investors

Capital gains tax will be extended to cover disposals of commercial real estate and to indirect disposals

Saudi, UAE executives face probe over Malaysia's 1MDB scandal

Swiss Attorney General Michael Lauber says up to $7bn in funds flowed through 1MDB state-own fund in Malaysia.

Legal, Tax, Regulation & Compliance