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

Turkey is scrambling to stop hedge funds from driving the lira higher

Turkey had already cut that rate by a quarter of a percentage point earlier in 2016

New Business Opportunities in Iran! But Who Will Be Your Banker?

The U.S. government has recently been on a road show to encourage European and Asian banks to take advantage of the lawful business in Iran.

Mourant Ozannes advises on $490 million Travelex financing

The Mourant Ozannes team was led by Partner James Hill and Senior Associate Andrew Salisbury, who worked closely with Linklaters as English legal adviser.

New CISI qualification launched to combat financial crime

Working with CCL Academy to create a well-equipped workforce in the regional industry is a firm step towards effectively preventing financial crime

Turkey to integrate its financial market infrastructure with the European Union

This is an opportunity that will contribute to much-needed depth in Turkish capital markets.

Tight liquidity, rising fund costs seen boosting GCC bond market

Issuers warned against expecting cheaper pricing from sukuk markets as banks are expected to remain the largest buyers of these securities

UAE Expands Tax Treaty Network

The United Arab Emirates signed an agreement with the United Kingdom on the avoidance of double taxation on April 12, 2016.

Qatar and 12 countries urge IMF to study EMDC capital outflow dynamics

The Fund should stand ready to upscale technical support on policy priorities once domestic stability is restored and to support reconstruction efforts , where needed, as soon as possible.

CVC, QIA and Brookfield drop $8.5bn Sainsbury's bid

Sky said the trio had dropped a planned takeover, hatched in the autumn, after Sainsbury's made a 1.4 billion pound ($2 billion) bid for Home Retail Group, the owner of Argos.

UAE fund says Malaysia's 1MDB in default on $1 billion deal

The Abu Dhabi fund said it was terminating last June's agreement, under which it agreed to provide $1 billion in cash as well as assume payments on $3.5 billion of 1MDB debt.

International law firm advises Ahli Bank on its debut US$500 million issuance in the international capital markets

The Notes were issued under Ahli Bank's US$1.5 billion Guaranteed Euro Medium Term Note Programme which was established on 24 March 2016.

Malaysia 1MDB: Saudi minister says Najib funds were donation

The 1MDB fund was set up by Mr Najib in 2009 to pay for major new economic and social developments in Malaysia.

UAE central bank plans reforms to EIBOR quotes: sources

A panel of 11 banks submits daily quotes from which Emirates interbank offered rates are calculated.

Qatar sets new rules for bank forex holdings

In its brief circular, the central bank said it was “keen to limit the risks of foreign currency open positions.”

World’s Worst Finance Job? Turkey’s Central Bank Has a New Chief

The newspapers, by contrast, are increasingly amenable to the President’s view of the world.

Leading ASEAN law firm & Al Aidarous Form Strategic Alliance in Middle East

Chambers Global and The Legal 500: Europe, Middle East & Africa have recognised WongPartnership in the areas of Corporate/Commercial, and Real Estate and Construction since 2011 and 2014 respectively.

CBE has not received new deposits from Saudi Arabia’s MOU with Egypt as of Saturday: CBE deputy governor

Quality of performance is a requirement for extending working period, says Negm

Qatar's QNB says receives regulators' nod to buy Turkey's Finansbank

The share transfer to QNB will take place once remaining regulatory approvals were received, it said in Sunday's statement.

UAE Banks Federation holds Ordinary Annual General Meeting, elects new board for the next three years

The UAE Banks Federation , a professional body representing 49 member banks operating in the UAE, held its Ordinary Annual General Assembly Meeting to review the UBF main activities and key achievements of last year.

Former Kuwaiti financial attaché arrested in US on charges of money laundering and illegal revenue

The woman is also suspected of involvement in financial and administrative violations which include fake medical bills for Kuwaiti citizens.

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