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

Central Bank of Bahrain debuts regulatory sandbox

The testing duration is nine months, with a maximum extension of three months.

Qatar Crisis Challenges Gulf Assets as Middle East's Safe Haven

Change follows Saudi Arabia, allies, cutting ties with Qatar

Abu Dhabi investigators foil attempt to steal $173m from UAE bank account

Nearly 40 Asian and European individuals have been arrested in connection with the crime

International Lenders Support Qatari Banks Hit by Regional Rift

Saudi Arabia, the UAE, Bahrain and Egypt last week severed diplomatic relations with Qatar, accusing it of support for Islamist militants and Iran.

Kuwait Central Bank keeps the discount rate at 2.75%

The decision is also based on continuous monitoring by CBK of the domestic market, taking into consideration movements in interest rates on major international currencies, he added.

Federal Reserve raises interest rates, GCC countries react

The Fed raised its Federal Funds Rate by 25 basis points on 14 May 2017, resulting in several central banks' across the GCC either raising, or maintaining their rates.

Qatar crisis challenges Gulf assets as Middle East’s safe haven

The average spread paid by governments in the Middle East to borrow in bond markets has since risen seven basis points

Bahrain launches new rules for fintech firms

The testing duration is nine months, with a maximum extension of three months.

Bahrain wealth fund Mumtalakat has up to $300 mln for new deals

We are looking at some business opportunities to invest in the Saudi market.

Egypt central bank removes foreign currency transfer limit

The controls were imposed to crush a black market for dollars that had sucked foreign currency out of the formal banking system.

Qatari banks fall after UAE red flag, Dubai's Emaar climbs

The UAE, as part of its response to the diplomatic rift in the region, told local banks to apply "enhanced due diligence" to the Qatari institutions

Germany signs financing deals worth $228.3mln with Egypt

The second deal entails a €12 million grant to support Egypt’s dual education system.

Iran Denies Banking Troubles With Turkey

The account blockages only pertain to foreign exchange accounts that mostly concern major traders who move a considerable amount of currency out of Turkey.

Austrian Bank Opens €1b Credit Line for Iran

Iran's Economy Minister Ali Tayyebnia pointed to his last year's meeting with Jorg in Vienna and called for speeding up the process of boosting economic relations.

UAE Regulator Approves Emirates NBD as General Clearing Member

The bank will offer Trading Members a range of services to manage securities market transactions.

Qatar central bank chief says no disruption to domestic, foreign transactions

He said Qatari banks had an extensive international presence

UAE Central Bank Asks for Due Diligence on Qatar Bank Accounts

The list, endorsed by the U.A.E, Egypt and Bahrain, includes 12 entities and 59 individuals, according to a joint statement.

The Coming Challenges For Asset Managers And Financial Advisors

Those residents have the complete freedom in staying in the state of Qatar in accordance with the laws and regulations adopted by the state.

Wide Support for Bank Mergers

In the wake of Seif’s comments, many experts and bankers welcomed the idea, saying it could provide a ray of hope for the beleaguered industry.

Local banks express concern over uncooperative clients

The Central Bank to give them the list of countries that signed the agreement and to guide them on the necessary procedures.

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