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

Libyan fund sues Goldman Sachs for $1 bln

The Wall Street bank allegedly made $350 million in up-front profits from the trades.

Clifford Chance advising NBK on proposed sale of its 30 per cent stake in IBQ to Qatari investors

Clifford Chance announced today that it is advising the National Bank of Kuwait (NBK) on the proposed sale of its 30 per cent stake in the International Bank of Qatar (IBQ) for $538 million to Qatari investors.

Goldman Sachs 'charmed Gadaffi-era sovereign wealth fund employees with girls and alcohol' in trip to Morocco

Goldman Sachs counters that the LIA had very experienced bankers on their team and that its complaints now were merely hindsight

Dubai Financial Regulator Seeks To Wind-Up Local Arm Of Espirito Santo

Dubai’s financial regulator is seeking court approval to wind up the local arm of Portuguese financial group Espirito Santo, the latest in a series of international regulatory actions taken against the family’s collapsed business empire.

Dentons advises Burgan Bank on $500 million issuance

Dentons has advised Burgan Bank on the issuance of $500 million Perpetual Tier 1 Capital Securities, which completed on 30 September 2014.

Norton Rose Fulbright advises the IDB on $1.5 billion drawdown under its $10 billion Sukuk programme

Norton Rose Fulbright has again advised the Islamic Development Bank on its $1.5 billion 2.111 per cent Trust Certificates due 2019 issued under its $10 billion Trust Certificate Issuance Programme

Bank statements confirm fake invoices money was paid to David Haigh, GFH Capital says

GFH Capital, a subsidiary of Bahrain-based Gulf Finance House, launched legal action against Haigh

Allen & Overy advises on groundbreaking UAE IPO

Allen & Overy has advised the syndicate of underwriters (J.P Morgan, Bank of America Merrill Lynch, Morgan Stanley, HSBC Bank Middle East, EFG Hermes, Emirates NBD and the National Bank of Abu Dhabi) on the initial public offering of Emaar Malls Group

Dubai flexes legal muscles as financial court system grows

The case is an example of how the DIFC is emerging as a major legal jurisdiction for business in the region

Linklaters advises on one of the largest IPOs in UAE

Linklaters has advised Emaar Malls Group, the leading owner and operator of shopping malls in Dubai, and its parent company, Emaar Properties, on EMG’s IPO, the second largest ever in the United Arab Emirates.

Central Bank of Oman selects five members to national Sharia board

The formation of a national Sharia board is aimed at regulating Islamic banks and window operations of conventional banks

Ogier Fiduciary Services Re-brands as Elian Following MBO

Ogier Fiduciary Services launched its new brand and identity today, following the management buyout (MBO) from the Ogier Group in June.

Riyad Bank, IFC renew Saudi SME partnership

Riyad Bank has renewed its current agreement with the International Finance Corporation, a member of the World Bank Group, as part of the bank's strategy to support the Kingdom's small and medium enterprises.

Dubai to introduce new measures to ensure broker transparency

We are going to introduce four new measures to control the brokers

Leeds United: GFH bought a Rolls Royce but couldn’t afford the petrol says Haigh

Haigh, who denies the fraud claims, was arrested on May 18 after he flew to the Middle East for talks about a supposed new position with GFH.

QFCRA proposes changes to banking investment management and advisory business

The QFC Regulatory Authority has released two consultation papers containing proposals that will strengthen and streamline the QFC Regulatory Authority’s prudential framework for banking, investment management and advisory activities undertaken by a

Banker laundered money for minister?

Defendant says he was told by an Asian minister to open accounts in name of four women

Bank Asya suspension mystifies investors amid Erdogan feud

Turkey’s stock exchange prolonged a freeze on Asya Katilim Bankasi AS’s shares, a day after it twice suspended trading in the Islamic lender that’s lost almost half of its market value this week.

QFC Regulatory Authority issues proposals to strengthen the QFC Banking, Investment Management and Advisory regime

The papers call for public comment on draft Rules that are designed to clearly differentiate between the sectors of banking business, and investment and advisory business

Dubai World restructuring deal seen soon - top govt official

We are really trying to control the inflation rate. We don't want it to be so high as we believe Dubai will continue to attract more and more people

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