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

Tax rules clarified for UAE entrepreneurs earning over Dhs1 million

Any individuals earning over Dhs1 million per year through their business activities will need to register for corporate tax and appropriately declare their income

Saudi Cabinet approves contracting rules for foreign firms without regional HQs

The Saudi Investment Ministry earlier this month announced various benefits, including tax incentives for foreign companies establishing their regional headquarters in the Kingdom.

Sheikh Mohammed issues new law to level up Dubai’s global competitiveness

New law tasks The Executive Council to work towards advancing Dubai’s ranking in various indices

Bank Nizwa signs $90 million sustainable finance deal with Oman’s RDAC

The integrated workforce accommodation facility provides premium living standards to workers of all segments

CBO issues treasury bills worth OMR29.45 million

The average discount rate and the average yield reached 5.37473 per cent and 5.44772 per cent, respectively.

GSB expands offering in the UAE

GSB continues the expansion of its global wealth and advisory business with the appointment of Craig Ritchie

Saudi Central Bank Announces New Regulatory Framework for BNPL Services

This development, as stated in a recent SAMA press release, is part of the bank’s ongoing efforts to enhance the overall financial sector, with a specific focus on empowering the Fintech industry.

QFCRA proposes updates to Islamic banking framework; to be effective from July 1, 2024

The proposed CCR framework for bilateral transactions relates to exposures arising from over-the-counter derivatives, exchange-traded derivatives, long settlement transactions and securities financing transactions.

CBB holds fourth board meeting for 2023

The Board reviewed the topics on the agenda including the performance report and developments in the financial sector for the fourth quarter of 2023

In landmark move, UAE sets up Bankruptcy Court to rule on disputes

New law to take effect next May and is in line with best global practices

Saudi Arabia offers tax incentives for companies moving regional HQs to Riyadh

Some of the noted companies that opened their regional headquarters in Saudi Arabia in recent months are PwC Middle East and GE Healthcare.

UAE adopts broad-ranging new e-commerce law

Its scope includes trading on websites, platforms, smart phone applications, social media, virtual stores and blockchain based platforms, and it places digital consumers’ rights and obligations at the centre of the new law.

Central Bank of the UAE and Bank Indonesia agree to expand joint cooperation

The MoU was signed by His Excellency Khaled Mohamed Balama, Governor of CBUAE, and Perry Warjiyo, Governor of BI

UAE corporate tax 2024: Details, registration, requirements

These are the necessary procedures that all businesses operating in the UAE must follow in order to comply with the corporate tax framework

Herbert Smith Freehills advises Masdar on landmark agreement at COP28 between UAE and Kazakhstan

It is Masdar’s inaugural project in Kazakhstan, Central Asia's largest economy.

The DFSA waives regulatory fees on ESG listings on Nasdaq Dubai

This fee waiver is effective immediately and will apply throughout 2024

UAE issues new Dh500 banknote; circulation begins today

The new banknote is being issued in the same blue colour, for easier identification and will go into circulation on Thursday, November 30

UAE Corporate Tax: How prepared are businesses as first tax year comes into sight

While first corporate tax payment is due only by Sept. '25, much still needs to be done

Saudi Arabia is a regional powerhouse and global policy shaper: World Bank official

He underscored Saudi Arabia’s efforts to tackle climate change and applauded the Kingdom for its global initiatives.

Binance to pay billions in US in money laundering case, CEO resigns

Zhao pleaded guilty to failing to maintain an effective anti-money laundering program

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