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

Goldman Sachs fights $1bn court battle against Libya's wealth fund

The bank noted that the LIA would have stood to “make very substantial profits” if share prices had moved in a different direction.

Qatar Financial Centre sees new law on foreign investment by year end

The passage of legislation in Gulf countries is often slow due to the region's bureaucratic inefficiencies.

Six people involved in Azerbaijani Int’l Bank fraud case released

All three were accused of not repaying their loan debts to the International Bank of Azerbaijan.

New Gulf body to tighten economic bonds

The GCC was founded in 1981 to more deeply integrate the Gulf countries, but analysts say progress has been slow.

Firms to showcase real-time fraud management solutions

This would make banking the smartest industry in the planet.

CBE receives banks’ proposals to amend Banking Law

The CBE’s legal department should compile suggestions and form a committee for study, says FEB legal adviser

Former CEO of Dubai’s Deyaar Sentenced For Theft And Fraud

The American businessman was arrested in 2008 during an investigation into financial irregularities

Saudi Arabia does not intend to change exchange rate policy: central bank governor

The kingdom’s riyal currency has been suffering due to market speculation that the policy might change, Kholifey said, but added that there would be no benefits to this.

Meysan Partners advises on the first international issuance of Tier 1 sukuk in Kuwait

The issuance will enhance the bank's capital base in line with Basel III guidelines.

Al-Tamimi & Company closes $250m sukuk transaction for Boubyan Bank

The transaction used a Mudarabah structure in order to ensure Shari’a compliance.

Dubai International Arbitration Centre Opens an Office in DIFC

Dr. Al Mulla said that arbitration is about choice, and that the presence of the DIAC in the DIFC office will give arbitration parties the choice of resorting either to the DIFC courts or to the Dubai Courts if they so wish to enforce their awards.

Dentons advises Boubyan Bank on world's first public fully Basel III-compliant Tier 1 Sukuk

The Dentons team was led by partner Alex Roussos, assisted by senior associate Beene Ndulo and associate Sana Siddiqui.

Egypt Said to Probe 12 People on Beltone Share Manipulation

The regulator’s move is the latest attempt by authorities to investigate a 243 percent surge in Beltone’s share price this year.

Arab Monetary Fund Calls For Central Banks To Step Up In Islamic finance

Central banks need to have a stronger role in setting regulations for the region’s Islamic banks, and must press ahead with introducing new liquidity management tools

UAE's Anti-Money Laundering and Suspicious Cases Unit and Kuwait's Financial Intelligence Unit sign MoU

The MoU covers mutual cooperation in different areas that are of interest to both parties regarding financial information related to money laundering

Fitch Ratings deems Saudi bank secure during draft review

The Financial Stability Board, a consultative group that oversees banking practices in Middle East and North Africa nations, first introduced the concept of regional banking approaches in an April 25 meeting in Riyadh.

Lebanon central bank says must comply with US Hezbollah law

The law has ignited an unprecedented dispute between Hezbollah and a central bank widely seen as a pillar of stability in an otherwise weak and dysfunctional Lebanese state.

Benefits of using Cyprus based companies to invest in Iran - Harneys

On January 16 2016 the European Union implemented the Joint Comprehensive Plan of Action, which scaled back sanctions on Iran and marked the country's return to international capital (and other) markets. Investment in Iran through Cyprus-based compan

Malaysia Says Too Early to Conclude Fraud in 1MDB-Abu Dhabi Deal

A report by a Malaysian parliamentary committee last month identified at least $4.2 billion of questionable transactions by 1MDB

US Reveals How Much Treasury Debt Saudi Arabia Owns

The report showed that Saudi Arabia in March held $116.8 billion in Treasury debt, down 2.5 percent from February.

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