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

Qatar to Tell Banks to Seek Overseas Funding as Gulf Spat Drags On

Regulator is meeting with banks regularly to gauge liquidity

$205bn worth of cheques handled in H1: UAE cbank

The number of rejected cheques in June declined to 94,264 against 107797 in May.

DIFC Courts’ half-year performance underscores global judicial standing

The ongoing growth of CFI case volumes and values underscores the DIFC Courts’ maturity and position in the regional and international judicial landscape.

Deposits in UAE banks surge to $120bn in H1

The UAE‘s consumer market is largely being driven by a fast-growing population with relatively high incomes.

Qatar,‘damaged’ by ATQ sanctions, has the worst still to come

It concluded that it was a “damaging blow” to its economy, with a 36 percent fall in imports, a dramatic rise in the cost of food, a fall in construction-sector activity and sharp tensions in the Qatari banking sector.

IFRS 9 to herald new era in reporting for GCC banks

This change will impact diverse a bank’s business including accounting, risk management, capital management, regulatory reporting and more

A call for UAE VAT compliance

The final VAT regulations announced last month helped clear the air for investors and companies in the UAE as a whole. Set to be introduced across the Gulf countries.

Yemen central bank complains to Saudi-led coalition about cash deliveries

It did not say which currency the deliveries would be.

ADGM recruits UAE Exchange as latest fintech partner

Partnership enables knowledge transfer, joint FinTech development and real-world testing.

Central Bank of Bahrain Issues P2B Crowdfunding Regulations

General regulations are the same for both conventional and Shari’a compliant crowdfunding platforms.

SBI Jeddah to cease operation by 2017 end as SAMA clears the way

SBI Jeddah, which had been licensed to start operations in the Kingdom on Oct. 3 2005, is expected to exit the Saudi banking market by the end of the year 2017.

Egypt Got $40 Billion in Investments, Transfers Since Float

Investors have poured money into Egyptian debt and equities since authorities started overhauling the economy by removing most currency restrictions

UAE ‘informally’ boycotts Western banks with Qatari investments, report says

The boycott, however, was not announced publicly, another banker said.

Public offerings and listing made easier in Turkey - Esin Attorney Partnership

This development will create a new financing option by facilitating equity financing for these companies

DFSA slaps former Deutsche Bank employee with fine for misleading DIFC authorities

In April 2015, the DFSA published its related action against DBDIFC for misleading the DFSA, and for failures in DBDIFC's internal governance and systems and controls and in its client take-on and anti-money laundering processes.

Central Bank Pursuing IFSB Conformity

FSB is an international organization that issues guiding principles and standards within the banking.

Qatar's Doha Bank seeking to reduce UAE loan book -sources

The decision by Qatar's fifth-biggest lender, which has a branch each in Dubai and Abu Dhabi, comes amid continuing tensions between Doha and a Saudi-led bloc, which on June 5 cut diplomatic and transport ties and also imposed some economic sanctions

Abu Dhabi gives new deadline as 1MDB misses $600 million payment

It said all payments to IPIC would be made from the proceeds of the 1MDB rationalisation plan

Oman signs $3.55 billion loan with Chinese banks

The loan saw strong interest from leading Chinese banks.

Qatar files WTO complaint over Gulf trade 'siege'

The arbitrary measures taken by the siege countries are a clear violation of the provisions and conventions of international trade law.

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