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

UAE central bank says enough coins in circulation amid overcharging concerns

The Department of Economic Development – Abu Dhabi has given shops permission to round up the cost of items

VAT to introduce transparency, industry leaders say

The VAT registration form is available online on FTA’s portal and it should be completed by a person who is the authorised signatory of the business.

Emirates NBD to provide clearing services for Index Securities

Bank is the first UAE-based financial services entity to be approved by the regulator as a General Clearing Member

Investment trends that will affect the Middle East in 2018

The writer identifies four global trends and outlines some tips for investors

Bahrain-Turkey banking ties highlighted

The visit included meetings with TBB Risk Centre Which is considered as a leading advisor to all Turkish financial institutions in the area of risk management by providing information and reports

VAT to deliver greater fiscal boost to UAE compared to GCC peers — experts

Political challenges in Oman and Kuwait could delay VAT, research finds

The Case Against the Arab Bank Should Be Dismissed

Samuel Estreicher writes: At this juncture, absent a special treaty, corporations are not suable for violations of international law. The case against the Arab Bank should be dismissed.

Saudi officials detain 11 princes after they protested at a royal palace over austerity measures including being forced to pay their own utility bills

Saudi government has introduced reforms aimed at cutting huge budget deficit

Banker stands trial for fraud

The company told him to submit a letter of guarantee.

Bank Leumi and ‘Bank Of China’ ink deal

The Chinese market is undergoing major changes

Bahrain cbank chief named Central Banker of the Year

In December 2017, the CBB also issued a new directive recognising both locally domiciled and foreign exchange-traded funds (ETFs) as collective investment undertakings.

UAE financial services community targeted by fake DFSA scam

The bottom of the fake application form says that it has been issued by “DFSA LLC.”

Cabinet ratifies eight agreements and MoUs

The first was approving a draft law that regulates non-Qatari investments in the economy and agreed to refer it to the Advisory Council.

Turkey: The Data Protection Authority Publishes the Regulation on Data Controllers Registry

The Authority may introduce exemptions to the registration obligation, taking into account the exemption criteria provided in Article 16 of the Regulation.

New draft law on foreign investment to boost economy

The draft law was prepared by the Ministry of Economy and Commerce after examining the best international and regional practices in this regard.

Banker From Turkey Is Convicted in U.S. Over Plot to Evade Iran Sanctions

The case was followed closely in Turkey, where the government was already angry at the United States for giving shelter to a cleric Mr. Erdogan says was behind a coup attempt in 2016.

No VAT on ATM withdrawals in Saudi Arabia

There will not be any VAT on withdrawals from ATMs of customer’s bank or any other bank: official

Qatar plans central Shariah committee for Islamic banks

A recent report by the World Bank and the Bahrain-based General Council for Islamic Banks and Financial Institutions suggested further action by regulators to strengthen the sector’s governance

S. Arabia, UAE levy VAT in first for Gulf

They are the latest in a series of measures introduced by Gulf oil producers over the past two years to boost revenues

Financial Conduct Authority delays rule change for Saudi Aramco’s $2 trillion listing

This would enable Saudi Arabia to choose London as the main international venue for its initial public offering of Aramco, its state oil giant.

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