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

Bahrain’s GFH receives $2.5m as legal settlement from Prescott Energy

GFH won a legal case filed in 2013 against against Prescott Energy

Large portion goes in paying public employees’ salaries

It also indicates the ongoing spending and consumption inflation, which poses a burden on the national budget.

Businessman accused of embezzling wife’s Dh30.5m

Banker accused of helping forge woman’s signature on money transfer and banking facility forms

UAE Central Bank orders closure of money exchange

Committee formed to evaluate losses to customers and compensate them

UAE forms fatwa council to advocate moderate Islam

The Cabinet approved during it sessions the formation of the UAE Council for Fatwa to be the sole reference for fatwa across the UAE and to ensure the alignment of all issued fatwa.

Qatar and UK continue to count the cost of Barclays bailout

All were deemed to be vulnerable to the dramatic falls in asset values prompted by the collapse of US sub-prime real estate.

Saudi foreign assets keep falling in April amid heavy overseas borrowing

The government has been drawing down the assets, which hit a record high of $737 billion in August 2014

Lebanon seeks a secure financial sector

Central Bank Governor Riad Salame wins a fifth six-year term in a move widely praised

DFSA launches Innovation Testing Licence for FinTech Firms

This initiative signals the next phase of the DFSA’s regulatory roadmap to foster innovation in Dubai.

Tehran, Muscat after stronger banking ties

Leading a high-ranking banking delegation to Muscat, Valiollah Seif made the visit in order to follow up earlier agreements reached during earlier visit of President Rouhani to the Persian Gulf littoral state.

UAE Central Bank signs MoU with Abu Dhabi Judicial Department

Commenting on the signing, Muhammad Al Falasi, said, "Signing this MOU reinforces the continuous efforts exerted by Central Bank to support electronic transformation of services provided by federal and local entities and authorities, in line with the

Now, pay Dubai RTA fines in instalments

The move is a further step towards cementing the strategic partnership between ADCB and RTA.

Chipping away at the personal debt problem

He is now being treated in a Dubai hospital because of a mental illness and cannot return home because of his outstanding debt of Dh335,000.

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

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