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

UAE Central Bank imposes financial sanctions on six banks

They did not follow the common reporting standards

UAE, Kenya to commence talks over comprehensive economic partnership

The UAE-Kenya CEPA will be the first bilateral trade deal that the UAE seeks to sign with an African nation

CBK raises discount rate by quarter percentage point

CBK will also change the rates of monetary policy instruments by varying percentages for the entire interest rate yield curve including repurchases

African Development Bank adopts new Country Strategy paper for Egypt covering 2022-2026

The new strategy sets out two priority areas: strengthening Egypt’s competitiveness to support strong private sector-led growth and job creation.

DCO whitepaper calls for multilateral dialogue on international digital economy taxation plans

The Digital Cooperation Organization (DCO) launches whitepaper discussing current proposals for global tax solutions for digital economy, initiates discussions with international tax community

Saudi Central Bank launches Joint Operations Center to combat financial fraud

In coordination with government entities, the Tanfeeth program seeks to promote operational efficiency by overcoming procedural hurdles.

National Bank of Bahrain signs an extended partnership with Mastercard

To enhance portfolio through new premium offerings

UnionPay International Reaches Cooperation Deal with Bank Albilad in Saudi Arabia

BAB is UnionPay's fifth partnership in the country and the first to sign up since 2018, giving UPI customers full access to all BAB's points of sale (POS), ATMs and online merchants moving forward.

How investors will benefit from Dubai’s new law on real estate funds

The move is expected to attract liquidity into specialised commercial segments of the property market, experts say

Commercial Bank of Dubai arranges AED530mln syndicated financing for Gulf Data Hub

Commercial Bank of Dubai acted as the Initial Mandated Lead Arranger and Bookrunner on the facility and was joined by The National Bank of Ras Al Khaimah, Emirates Development Bank and Gulf International Bank.

UAE employers must comply with new Emiratisation rules to avoid hefty fines

The programme applies across all of mainland UAE but does not apply in the freezones including the DIFC and ADGM.

Norton Rose Fulbright advises OKX on market entry into Dubai

OKX is one of the largest cryptocurrency exchanges in the world by trading volume

CBB Government development bond Issue No.30 oversubscribed

Issue of the 5-year Government Development Bond has been oversubscribed by 298%

Dubai’s financial services sector tops global ranking in attracting FDI projects

Dubai surpassed major financial cities, including London, Singapore, New York and Paris, in attracting foreign direct investment projects in 2021

The Group Law Firm and Rimon P.C. combine efforts

In Response to the Demand for Global Legal Services from Saudi Clients

UAE’s business-friendly policies attract more global investors

Dubai welcomed 6.17mln overnight visitors from January to May 2022

Ask the Law: In UAE, can employer dismiss an employee without issuing a warning?

Employer can dismiss a worker without notice only after conducting an investigation

United Arab Bank goes live with Arab Monetary Fund’s Buna platform

New initiative will assist UAB’s retail and corporate clients to send and receive cross-border multi-currency payments in a safe, cost-effective, and transparent way

Fintech company director fined $24,000 for obstruction of investigation

He refused to hand over information when suspected of operating without proper authorisation

Solutions inks $79.46mln contract with STC

Under the 24-month contract, solutions will install data transfer devices and raise the capacity of stc's internal and international network and the infrastructure for virtual broadband devices

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