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

UAE unveils crackdown on banks selling insurance policies

The Central Bank will also fine banks that violate the new framework.

UAE Central Bank stops sale of savings/investment and Takaful/Insurance products

The UAE central Bank will deny requests from banks and financial institutions to market or sell “savings and Investment and non-capital guaranteed/protected Takaful/Insurance products”, according to a Central Bank

Hamdan approves the organisational structure of Dubai Department of Finance

Resolution on structure annuls prior legislation, and becomes effective immediately

Kuwait Vision 2035 includes effective management, ratings in int'l indications

The implementation of the cornerstone contributes to improving rankings of Kuwait in indications of the World Bank and other international institutions, including indicators of business, national efficiency and productivity, governance, corruption and e&a

Bank manager, official accused of siphoning off client’s Dh26 million in Dubai

Prosecutors accused the two suspects of forging different bank papers and embezzling the businessman’s Dh26 million.

King & Wood Mallesons partner leaves to launch Dubai base for Charles Russell Speechlys

KWM with three partners in the Middle East following its Riyadh closure last month

DFSA Takes Action against Senior Executive Officer

He has agreed to appoint another Licensed Director to RSL’s Board of Directors.

Charles Russell Speechlys highly commended at the Middle East Legal Awards 2017

We are delighted to be ranked by Legal Week for this prestigious accolade which is new to The Middle East Legal Awards this year.

Dubai International Financial Centre hosts ‘Lebanese Banks Day’ with Banque Du Liban

It was emphasised that closer collaboration will help develop the industry further in the region and further afield.

FBME Bank's Tanzania License Terminated After Money Laundering Investigation

Legal Floris LLC represents clients affected by FBME Bank problems; FBME Bank was barred from U.S. financial system in April 2017, paving the way for business license revocation

New Deloitte report on banking regulations in UAE

The findings of the Deloitte Regulatory Barometer report reveal the need for regulators to play their role, by ensuring clear regulations and striking a balance between market safety, while also enabling businesses to perform and grow.

Forex firm shut down for fraud reopens in same building

MMA Forex which duped hundreds out of millions of dirhams seeks investments all over again as CEO returns after more than 3 years in jail

Bahrain to launch national e-wallet by June

Customers will also be able to transfer funds using the wallet for Fawri, FawriPlus, online bill payment and other types of payment services that will be available in future.

Qatar Financial Centre concludes Asia Roadshow 2017

Relations between Singapore/Hong Kong and Qatar have continued to strengthen over the years.

Standard Chartered Inks Zurich Deal

We are pleased to partner with Zurich to introduce best-in-class insurance solutions for our clients across the network in the Middle East.

UAE offshore companies: can they really compete?

A major advantage is the banking account opening.

Egypt parliament passes investment law

Lawmaker Medhat al-Sherif, a member of the parliamentary commission on economic affairs, said the new legislation provides for tax exemptions of up to 50 percent

Dentons advises Damac on tender offer, sukuk

The new sukuk was issued via a Cayman Islands special purpose vehicle, Alpha Star Holding III Limited.

CBK to implement Sharia governance by year's end

He noted that it was organized in collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions.

Financial sector, diversification to drive GCC growth

Sustained, broad-based growth requires a healthy financial system.

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