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

Deloitte banned from audit work for two years by Saudi Arabia’s market regulator

The judicial committee did not yet specify the date when the new and more extensive suspension would begin.

Turkey's Banking Regulation and Supervision Agency BRSA" officially an Institutional Member of AAOIFI

AAOIFI's business trip was concluded by a visit to the Islamic Finance Center - World Bank., where the two sides discussed ways of fostering professional ties which extend over two decades.

Morgan Lewis Advises NBK Capital Partners in the Establishment of NBK Capital Partners Mezzanine Fund II

Our team has been fortunate to work with them since their first mezzanine fund raised in 2009

Clifford Chance advises on sale of Americana, the largest M&A deal in the Middle East in 2016

A binding agreement to implement the sale was entered into on 18 June 2016 with Adeptio AD Investments, an investment company controlled by H.E. Mohamed Alabbar.

Corporate Counsel Middle East Awards International Law Firm of the Year: Clifford Chance

The judges were particularly impressed by the firm's graduate training scheme, pro bono work and corporate deals.

Barclays labels US$1b lawsuit over 2008 fundraising 'misconceived'

Barclays has described as "fundamentally misconceived" a US$1.0 billion-plus lawsuit brought by British financier Amanda Staveley over the bank's emergency fundraising from Gulf investors at the height of the credit crisis in 2008.

Financial centres: the gatekeepers of untapped opportunities

It is therefore pertinent for these destinations to possess certain legal infrastructures as well as other relevant features to operate as a financial hub.

KFH fully adheres to CBK’s security standards on cheques

The cheques should be kept in good condition and not to be folded nor torn.

Oman looks overseas to boost liquidity

Due to the limited impact that local banks have on project financing, funding for large projects is expected to come from overseas through international banks or initial public offerings.

UAE Labour Law: Employers must give detailed job offers - termination terms

Global regulatory framework to boost Islamic finance transactions discussed

National Bank of Fujairah highlights impact of changing legislation and market challenges facing UAE companies in inaugural Knowledge Series

They emphasised the importance of preparing against key issues most likely to affect companies in the UAE.

MoF signs cooperation agreement with UAE Central Bank

The agreement aims to enhance cooperation in areas of joint work, including monetary statistics, and government financial and banking information.

AAOIFI, UAE's SCA sign cooperation agreement

The cooperation also involves conducting focused studies that would contribute to the development of these markets and the finance and investment services industry.

Saudi Arabia to issue real estate development fund sukuk

The minister also said the kingdom will announce the final regulations on an annual tax on undeveloped urban land in two weeks.

Bahrain Institute for Banking and Finance joins Middle East Asset Management Forum

By applying the latest national developments to its educational division, BIBF stays on top of organizational strategy, portfolio management and overall project management system trends in Bahrain.

Special working hours at 14 QIB branches

The bank’s branches at Dar Al Salam Mall, The Gate Mall, City Centre and Medina Centrale -The Pearl will be open from Saturday to Thursday from 10.30am to 2.30pm, and in evenings every day from 9pm to 11.30pm.

CBQ’s $750m dollar bond priced lower as demand outstrips supply

The issuances was priced mid-swap at 215 bps, down from the guidance of 237 bps

Saudi Arabia Said to Tell Lenders to Stop Lowballing Bank Rates

SAMA, as the regulator is known, is exerting greater control over Saudi Arabia’s banking sector as part of wider reforms in the kingdom.

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.

Legal, Tax, Regulation & Compliance