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

5th Euromoney GCC Financial Forum kicks off

The inaugural welcome note was presented by Richard Banks, Consulting Editor of Euromoney Conferences and the keynote interview was held with Khalid Al Rumaihi, Chief Executive of the EDB.

Bahrain to discuss bank regulations with US

This has affected a wide sector of the population, especially the expatriates.

‘Dubai’s regulatory network a big plus for foreign banks’

Overall global conditions are bound to improve: Access Bank UK CEO

Court date set for Libyan sovereign fund dispute

The hearing is expected to run for four or five days, although the judgment may not come in the same week.

Bahrain to discuss bank regulations with US Treasury

US regulations include scrutiny of potential tax avoidance and anti-money laundering rules

GCC states must cut spending further, impose VAT to cope with low oil - IMF

MENA oil exporters lost $340bn in revenues last year

Swiss Affiliate Bank in Middle East Responsible for Financial Mis-selling Fails to Comply With Court Ruling

The claimant will now seek to enforce the next step in securing the sum through the DIFC Court.

Dubai needs to update finance laws to compete

This is just the latest call for Dubai to issue new regulations in order to develop its capital markets.

Clifford Chance advises on Kuveyt Türk's first issuance of Basel III compliant Tier 2 sukuk2

The Clifford Chance team advising the joint lead managers in Dubai was led by partners Stuart Ure and Qudeer Latif

Barclays accused of making 346 million pounds in ‘sham’ payments to Qataris

PCP's London lawsuit, which seeks £720 million in damages plus interest and costs

Govt issues top tips for Kiwi business in Iran

The deal followed more than a decade of diplomatic wrangling aimed at keeping Iran from building a nuclear bomb.

HSBC’s Swiss, Dubai arms under lens for tax evasion by Indians

HSBC has been under scanner ever since a leaked list of hundreds of Indian clients of its Geneva branch found its way to the Indian tax authorities.

Iran's Bank Mellat to pursue damages against Britain after winning EU ruling

The court rejected an appeal brought by the bloc against a lower court ruling.

DIFC adds 309 new firms in 2015

The global financial services hub also seeks to double the amount of leased space from 2.5 million sq ft in 2014 to 5.5 million sq ft in 2024 with its workforce projected to reach 50000 as per its 2024 strategy

Egypt cancels key investment forum after 'investor reluctance': Report

The report comes less than a week after the head of the World Economic Forum cancelled the MENA forum due to safety concerns

UAE money exchangers raise sector growth worries with central bank

There are around 140 money exchange houses in the UAE, a country of about 9 million people.

Egypt: Banks introduce restrictions on dollar use abroad

Banks have the right to limit dollar use, in light of the lack of foreign currency in the market

House passes draft law on legal fees

Al Badi was assuring the members of the council that legal fees were affordable before a draft law was passed.

Jersey Signs Memorandum of Understanding with Abu Dhabi Global Market

The MoU will allow the JFSC and ADGM to exchange confidential regulatory information and co-operate with each other regarding the supervision and regulation of financial systems under their respective authority.

Saudi Arabia looks to ease tightening liquidity in banking system

That threatens to slow economic growth; the three-month Saudi interbank offered rate has jumped to 1.73 percent

Legal, Tax, Regulation & Compliance