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

Kuwait's Khorafis win Dubai judgement against Swiss bank

No figure for compensation was set but the family has been claiming over $26.5 million.

UAE Central Bank Says StanChart Can Face Legal Action

The British-based bank will be liable to legal action by the account owners “because of the material and moral damage which is falling on them

$25M Bahraini Judgment Valid In Pa., Appeals Court Rules

In a precedential opinion, a three-judge panel upheld a ruling in favor of Standard Chartered Bank concluding that the New York court’s decision recognizing a judgment entered against Ahmad Hamad Al Gosaibi & Brothers Co. in Bahrain.

Bank Sarasin-Alpen to appeal DIFC court ruling on miss-selling

DIFC court rules in favour of Al Khorafis

Standard Chartered faces UAE action over shutdown

The UAE Central Bank warned Standard Chartered it could become the subject of lawsuits for “material and moral damage” as a result of the closure of an estimated 1,400 to 8,000 client accounts in the region.

Standard Chartered fined $300 million over laundering controls

If a bank fails to live up to its commitments, there should be consequences

Standard Chartered fined $300 million over laundering controls

If a bank fails to live up to its commitments, there should be consequences

International law firm bolsters Middle East Corporate offering

International law firm today announced that it has strengthened its corporate and commercial offering with the addition of three lawyers who will further bolster the employment, corporate and intellectual property teams

Herbert Smith Freehills down to one partner in Abu Dhabi after Clydes secures Islamic finance hire

He joins from law firm Herbert Smith Freehills

Turkey Banks Group Head Expects Fee Restrictions Within Month

A draft of the fee limits, which are set to reduce bank charges on loans and credit cards, was mistakenly published in the official gazette in April.

Largest Middle East law firm signs with BFH

The law firm has leased 223sqm on the 13th floor of the landmark development's West Tower

Fraud alerts sounded by DFSA with scams on the rise in UAE

The UAE is being targeted by international criminals using increasingly sophisticated methods to defraud companies and investors

Handwriting expert will prove my innocence, claims jailed former Leeds Utd boss

Haigh had his assets frozen by a high court judge in the UK

Turkey’s Top Aide Seeks Limits to Influence of Foreign Banks

The most important thing is to change the structure and weighting of the Turkish banking sector

Dubai’s Amlak Agrees $2.7 Billion Debt Deal With Creditors

The committee appointed by the United Arab Emirates government to negotiate the deal “expects the restructuring to be completed and fully implemented in 2014,” with the stock likely to resume trading in Dubai by early 2015,

Arab Bank Plc faces Hamas financing trial in U.S.

About 200 other plaintiffs in the lawsuit with claims against the bank stemming from attacks blamed on the al-Aqsa Martyrs Brigades and other groups have not yet gone to trial.

Gülenist Bank Claimed To Be Involved In 'Insider Trading'

Gülenist Bank Asya, whose shares have fluctuated extraordinarily in recent months, and its fiscal strength has been questioned, is now on the front burner due to 'insider trading' allegations

Reforms will make UAE stock market listings more competitive

Selldown was always a long-term requirement from all market participants

Qatar Central Bank introduces mechanism to insure deposits

The Qatar Central Bank recently introduced several new measures to strengthen the regulations governing the banking and insurance sectors and financial markets.

Simmons’ alliance partner expands in Saudi

Simmons & Simmons Middle East chief Andrew Wingfield highlighted Saudi’s strategic importance as a G20 member and the largest economy in the Gulf Cooperation Council.

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