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

Linklaters inks cooperation deal with Allen & Overy

A&O had been working with Abdulaziz AlGasim since 2007

KPMG 2012 Revenues Reach US$23 Billion

The growth in Advisory and Tax underlines the strength of client demand for professional services

Standard Chartered hit by $300m in Iran fines

Standard Chartered will pay more than $300m (£187m) to settle charges it violated US sanctions on Iran, Burma, Libya and Sudan.

HSBC, Standard Chartered Close to Resolving Iran Claims

A Senate committee said in July that failures in London- based HSBC’s money-laundering controls allowed terrorists and drug cartels access to the U.S. financial system.

Billionaire's daughter with Saudi royal connections and husband 'with nothing but debts' spend more than £1m on divorce battle

The relationship came to an end when the marriage broke down in 2008 and the couple descended into a legal dogfight over money and their children.

How Turkish banks are affected by move to Basel II

Some factors have helped minimize the impact of the migration to Basel II on banks' regulatory CARs.

US Justice Dept expands probe into Saudi bank licenses

Barclays did not name specific countries in its October disclosure, but in November, responding to a newspaper report, the bank said it did not make any illegal payment to get a Saudi license.

Standard Chartered expects further $330m Iran fine

The New York regulator had accused the bank of leaving the United States “vulnerable to terrorists

UAE tax treaties surge 40 per cent as wealth funds rise

The UAE is accelerating tax treaties with trading partners as global jurisdictions fight to win a greater share of taxable income from foreign investors.

Kuwait investment firm uses UK court to implement debt restructuring

The Kuwaiti investment company and asset manager, undergoing its second debt restructuring in three years, may be able to implement the plan as soon as next week if it wins the approval of a High Court of Justice in London scheduled for December 3.

Morocco Eyes Tax On Wealth

The minister insisted that the government would have to make sure that the tax could be adapted to Moroccan society.

International law firm advises on $900m syndicated facility for First Gulf Bank

The Norton Rose team was led by partner Matthew Escritt with support from senior associate, Ahmet Kalafat.

BDO Sees Global Revenue Grow in 2012

At year end 2012, BDO provides services in 138 countries and there has been a significant rise in the number of partners and staff working in BDO

Dubai Group, Banks Said Close to $6 Billion Debt Agreement

Law firm Linklaters LLP, which represents the so-called co- ordinating committee of creditors, is drafting the accord and a final agreement may be reached as soon as mid-December

Show me the money: Regulators looking for the Gulf's private money

Shadow banking is a catch-all term for an industry that encompasses hedge funds

UAE signs agreement with to avoid double taxation on income

The United Arab Emirates, represented by Ministry of Finance, signed yesterday an agreement with Mexico to avoid double taxation on income at the Ministry’s headquarters in Abu Dhabi.

Azerbaijan withdraws both valid licenses for securities management at request of their holders

There were no violations of prudential norms in their actions

Bahrain bank Alkhair wins key ruling

This is the fifth ruling to date issued against the former chief executive, the report stated.

Burgan Bank to sue Ex MP

The branch manager has been accused of divulging secret banking information to Al-Mislem who allegedly put pressure on him.

FATCA Model 2 Agreement Released - Withers

Model 2 essentially builds upon the foundation of Model 1 with some significant differences

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