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

UAE banks violating blank cheque regulations

The UAE Central Bank last year issued wide-ranging regulations aimed at curbing loose lending practices and bank charges.

Kuwait cbank issues new guidelines on banks governance

The governor added the new directives are to over-write the instructions issued by CBK on ‘sound management principles for banks and financial institutions’ back in May, 3, 2004.

Ex-bank convicted of $26m fraud in Bahrain

A Bahrain court has sentenced a former bank chief executive convicted of embezzling BD10 million to jail for four years in absentia, said a report.

CBB Holds second meeting with the Bahrain Association of Banks

Mr. Rasheed Mohammed Al Maraj, Governor of the CBB welcomed the chairman and members of the Board of BAB and thanked the Association and all retail banks for their cooperation in implementing the CBB’s plans for the development of banking services i

Dubai SME names new legal adviser

Dubai SME launched smeconnect.ae to guide investors and entrepreneurs on setting up and growing their business in Dubai.

Law firm appoints Middle East managers

These included the recent merger of HSBC’s operations in Oman with the publicly listed Oman International Bank.

UBS fights legal claim by Kuwaiti royal ‎

UBS has confirmed that Sheikh Meshal was invited to apply for a non-executive post at the bank. However, the bank has also claimed that it already had a strong relationship with Zain, having advised on many of its previous deals.

Middle East Banking & Finance Expert Joins Hadef & Partners

Leading UAE law firm Hadef & Partners is pleased to announce today that renowned Middle East Banking & Finance expert Caroline O'Hare is joining Hadef & Partners as Head of Financial Services & Regulatory.

Dewey's Riyadh team resurfaces at Patton Boggs

Former Dewey Riyadh partner Khalid Al-Thebity has joined Patton Boggs as managing partner of the affiliate office, with the Washington DC-based firm also taking on Dewey Riyadh associates Jihad Turkistani, Stefan Guttensohn, Siraj Al Islam and Judeh Bahna

Bahrain court adjourns trial of ex-CEO of bank

Al-Refai has thus far failed to attend any of the court hearings in relation to the money laundering case, it said.

Former Dewey Dubai partners take action to recover unpaid dues

As a result, a Dubai International Financial Centre (DIFC) court will next week (18 June) issue a winding-up order for Dewey’s operations in the United Arab Emirates.

Leading Omani law firm boosts corporate practice to meet market needs

Leading Omani commercial law firm has appointed a new partner to head up its Corporate/Commercial Law department.

DIFC enacts two amendments of its regulatory and markets laws

This new legislation amended the powers granted to the Dubai Authority Financial Services under the Regulatory Law of the DIFC.

Leading International Financial Centre law firm Expands With New Partners

Eleven attorneys promoted to partner across international network

Iranian bank sues rival over fraud allegations

The biggest fraud in the 32-year history of the Islamic Republic revolves around forged documents allegedly used by the directors of the Amir Mansour Aria Investment Company to secure loans totalling $2.6 billion to buy state-owned companies under the gov

India, Bahrain Sign TIEA

The deal was inked by India's Minister of State for Finance (Expenditure and Financial Affairs) Shri Namo Narain Meena and Bahrain's Minister for Transportation H.E. Kamal Ahmad.

Risk management ‘vital for bank boards’

BIBF director Garry Muriwai welcomed delegates, stressing the importance of continuing learning and development in the finance industry.

EFG-Hermes linked to Egypt graft claims

Gamal and Alaa Mubarak, as well as the two chief executive officers and a former CEO of the Cairo-based investment bank EFG-Hermes, are being charged with corrupt stock exchange dealings worth more than $400m in connection with the 2007 sale of Al-Watany

Baker and McKenzie advises Banque Saudi Fransi on first Sukuk issue

The firm also advised the Bank on the establishment of its $2bn Euro Medium Term Note Programme and debut $650m issue under the Programme in 2010.

International legal practice advises Majid Al Futtaim Group on its MTN and Sukuk programmes

The GMTN Programme was arranged by Barclays Bank PLC, Emirates NBD Bank PJSC and Standard Chartered Bank.

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