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

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

ICAEW: GCC companies must prepare for introduction of new financial reporting standards

The release of this standard was swiftly followed in July by the publication of a final and complete version of IFRS 9

Deloitte named a leader in Global Risk Management Consulting services by Gartner

Cyber Risk Services and Crisis Management round out broad portfolio Deloitte considers cyber risk services to rank among its most important offerings in the marketplace.

Bitcoin future in UAE uncertain due to lack of regulation

Efforts to promote the use of Bitcoin in the UAE have stalled amid uncertainty over how it is regulated here and in the wider region.

UAE Central Bank signs MoU with National Bank of Kazakhstan

The agreement puts in place a mechanism for cooperation between the two banks on regulatory matters

Leading Omani Law Firm triumphs at IFLR Middle East Awards 2014

The firm scooped the 'Equity Team of the year' award in the face of strong competition from UAE-based legal powerhouses, Clifford Chance, Linklaters, and Latham and Watkins.

Abu Dhabi Global Market recognises regulatory soul mate in Singapore

But one centre has appealed to ADGM more than the others: Singapore

Abu Dhabi Global Market recognises regulatory soul mate in Singapore

The UAE currently has four, including the Central Bank and Insurance Authority, in addition to the federal Securities and Exchange Authority and the Dubai International Financial Services Authority.

Turkey's Banking Code To Change, Regulatory Powers To Expand

A Parliamentary bill regarding the country’s banking law was submitted to the Turkish Parliament yesterday

Commercial Bank Of Kuwait Slashes Bad Loans As Settlements Reached

Commercial Bank of Kuwait, the Gulf state’s fifth-largest lender by assets, has reached a string of debt settlements with clients that have helped to slash its non-performing loans

Sayyidaat Dentons - Women in Business, A Middle East Perspective

Dentons celebrates the launch of new women's network in the Middle East

National banks differ on standalone risk profiles

Despite common characteristics and strong financial fundamentals, top three Gulf national banks such as Qatar National Bank National Bank of Abu Dhabi; and National Bank of Kuwait have differing risk profiles.

Al Tamimi & Company scoops five awards at IFLR Middle East Awards

Al Tamimi & Company, the Middle East's largest law firm, has won an impressive five awards at this year's IFLR Middle East Awards, underlining its position as the region's pre-eminent law firm for banking and finance matters, and for ca

International law firm to open Dubai branch

With offices in Geneva, Lausanne, Luxembourg, Paris, and Shanghai,

Regulatory regime for SMEs is what they need now

Small businesses were largely neglected during the early 50s and 60s and only went on to attract attention as the whole world moved towards becoming industrial economies.

Banks need to boost vigil against financial crimes: Seetharaman

Seetharaman addressing the session on “Customer Risk Ratings and Evolving Nature of Financial Crime” at BNY Mellon, New York yesterday.

Dubai International Financial Centre Introduces New Qualified Investor Funds Regime

In order to qualify as a QIF, a Domestic Fund must satisfy the following conditions at its inception and on an on-going basis.

Expatriates In Oman Remitted $9.1BN Last Year: World Bank

Expatriates in Oman sent home US$9.1bn while the country received US$39mn as remittance last year

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