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

Kuwait lets foreign banks open more branches to fuel growth

Kuwait will let foreign banks open multiple branches in the country to spur growth.

Qatar Regulator Reprimands RBS For Insufficient Staff Training

Qatar’s financial regulator has reprimanded Royal Bank of Scotland for insufficient training of its branch staff, it said on Tuesday.

QFB awaits regulatory nod for listing

The Qatar First Bank yesterday announced that it will go for listing on the Qatari bourse once it gets the regulatory approval.

The Bahrain Association of Banks to focus on research

We looked at BAB's major activities over the past five years, and discussed where the association could add value to the industry

IBRC seeks documents from Dubai firms linked to Quinn family

Companies deny role in the alleged conspiracy to move assets beyond the bank’s reach

SAMA chief reasserts KSA’s commitment to global AML

The Kingdom has invested significant resources to tackle AML challenges including the most recent amendments concerning the local AML regulations.

QCB asks all banks to transfer account data

The Qatar Central Bank has asked all banks to provide it with basic information about their customers’ accounts, including individuals and companies.

Dubai considers rule change to lure more domiciled funds

Dubai is considering regulatory reforms to persuade more funds to base themselves in its financial centre

Norton Rose Fulbright advises the IDB on its largest ever drawdown under its $10 billion Sukuk

The Joint-Lead Managers were CIMB Bank Limited, Commerzbank Aktiengesellschaft, First Gulf Bank PJSC, HSBC Bank plc, National Bank of Abu Dhabi P.J.S.C, Natixis, RHB Investment Bank Berhad and Standard Chartered Bank.

Turkish government denies claims of financial bodies’ merger

The Turkish government has no plans to merge the banking and capital markets watchdogs under a single roof that would consolidate state control over the financial sector,

Gulf bankers meet to boost cooperation

Arab central bank governors of the energy-rich Gulf met yesterday in Kuwait to discuss combating terror funding and boosting cooperation.

Gulf Arab Rift Has No Effect On Central Bankers Meet

A diplomatic rift between Qatar and three other Gulf Arab countries had no effect on a meeting of Gulf central bank governors today

Sudanese bank says dealings with Saudi Arabia unaffected

The general manager of the Bank of Khartoum Fadi Salim Al- Faqih said that the bank’s dealings with its counterparts in Saudi Arabia are continuing as normal especially with the National Commercial Bank

Law and tax expert opens new office in Oman

They are strategically important areas for our clients

National Bank of Abu Dhabi : UAE central bank chief warning on capital rules

Sultan Al Suwaidi says small businesses are at risk under new global financial regulations

Central Bank chief warns Basel III capital rules could curb SME growth

The Central Bank governor yesterday warned that Basel III banking rules could curb the growth of small and medium-sized business worldwide.

UAE banks want home buyers to disclose source of money used for down payment

The UAE Central Bank issued directives in October 2013 stopping homebuyers from using personal loans or credit cards to meet their down payment requirements.

Egypt lifts ban on brokerage firms trading foreign stocks

Egypt's financial regulator, as part of a broader effort to invigorate the country's financial markets, has lifted a ban on brokerage firms and fund managers trading shares listed overseas.

GCC and Levant banks warned against complacency on capital requirements ahead of Basel III

GCC and Levant banks could face massive capital shortfalls because of tighter capital requirements if they do not manage their books more astutely.

Kuwait fines Ahli Bank chairman $5.3 mln over insider trade

Al Ahli did not give details of the allegations against Behbehani

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