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

Mashreq establishes Corporate Alliance with anti-fraud organisation

H.E. Abdul-Aziz Al-Ghurair, CEO of Mashreq, commented, “We are proud to be the first Bank in the Middle East to establish this Corporate Alliance with ACFE.

Al Ruwayeh & Partners wins 'Banking and Finance Legal Team of the Year' Award

The firm has been consistently rated as the leading corporate and commercial law firm in Kuwait by reputable legal guides such as the Chambers Global Guide, International Financial Law Review and the Legal 500.

Islamic finance body picks up pace with new standards

The Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions has issued two new shariah standards, revised three others and said it will review at least five more in coming months.

Latham & Watkins advises on the Middle East’s largest ever IPO

The Law Office of Salman M. Al-Sudairi in association with Latham & Watkins LLP advised The National Commercial Bank (NCB) on the $6 billion (SAR 22.5 billion) initial public offering (IPO) of 25 percent of its shares at an offer price of SAR 45 per N

Saudi Arabia to introduce credit rating agency rules in Sept 2015

Saudi Arabia's capital market regulator will introduce rules for credit rating agencies next September, part of reforms aimed at modernising the financial sector of the world's top oil exporter.

Eureeca Crowdfunding Platform Hit with SEC Cease & Desist for Solicitation Violations

First Investment Crowdfunding Platform to Stumble on General Solicitation Requirements

Israel probes ‘millions of euros’ hidden in Switzerland

“Large Swiss banks are managing accounts belonging to thousands of Israelis holding millions of euros,” the authority said in an emailed statement Wednesday. “The suspicion is that most of the money in the accounts hasn’t been repo

Improving Kuwait's business environment in the making

Permanent Committee for Streamlining Business Environment made major steps towards improving business media in the country, Kuwait Foreign Investment Bureau Director General Sheikh Dr. Mishaal Jaber Al-Ahmad Al-Sabah said Monday.

Compliance With FATCA ‘Inevitable,’ Says Withers

As a result, every US passport holder living in Kuwait is now responsible to pay taxes to the IRS

Premier client’s personal adviser loses appeal in embezzlement case

The Dubai Appeal Court rejected M.H.’s appeal and upheld the five-year imprisonment against him.

Israel arrested UBS adviser, 13 others, in tax evasion investigation

Israel arrested 14 people, including a senior UBS investment adviser, as part of an investigation into Israelis allegedly holding undisclosed bank accounts with UBS worth hundreds of millions of euros

U.S. probing Standard Chartered over Dubai banking -sources

U.S. authorities are investigating London-based Standard Chartered Plc for potential U.S. sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe.

Leading UAE law firm Appoints Chief Operating Officer

He has over 20 years' experience in senior management and leadership roles and most recentlyjoins from Simmons & Simmons Middle East LLP, where he was Chief Operating Officer for the firm in the region.

DED brings out handbook on managing government finances

The Internal Audit sector in the Department of Economic Development ( DED ) has issued a Government Employee Handbook on the specific mechanism ways of managing finances within any government institution.

Banker Beats Israeli Account Tax Fraud Charges At Trial

The acquittal was a setback in the seven-year, U.S. campaign to curtail offshore tax evasion.

Ex-Mizrahi Octogenarian Banker Acquitted at Tax Trial

Six taxpayers testified as government witnesses

Saudi Sheikh launches $10bn lawsuit against Barclays over banking licence fraud

Claims Barclays 'hatched a fraudulent' scheme

Dubai court orders Swiss Private Bank to pay $10.45 mln to members of Kuwait's wealthy Khorafi family

A judgement accompanying the award said that the defendants falsified accounts.

Kuwait’s Burgan Bank Gets Regulator Approval For $74.8m Rights Issue

Burgan Bank, Kuwait’s third-largest lender by assets, has received regulatory approval to launch a KD21.6 million rights issue by the end of 2014, it said in a bourse filing on Thursday.

Compliance with U.S. regulations seen as existential issue

Complying with evolving U.S. economic sanctions and anti-money laundering regulations is an existential issue for Lebanese and Arab banks, bankers and legal experts said Tuesday at the 2014 annual forum for the heads of compliance units at Arab banks and

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