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

BR Shetty: Barclays wins right to claw back $131m from NMC founder

UAE Exchange Centre reneged on a currency swap deal with the UK bank as crisis peaked in 2020

Lebanese judge imposes travel ban on central bank governor amid probe

Riad Salameh is being investigated by authorities in Lebanon and Europe over alleged money laundering

Saudi Arabia's AlAhli Takaful, Arabian Shield merger now 'effective'

Creditors did not raise objections to merger deal within set deadline

Israel's One Zero Digital Bank gains full licence

Having gained a restricted licence in December 2019, One Zero operated on a trial basis initially but has now met all criteria, including raising the necessary capital.

Emergency liquidity available for Egyptian banks

The rate of emergency liquidity will be determined at the central bank's overnight lending rate, and the Bank will set a margin set at a minimum of 5 percent.

Six decrees issued to regulate Dubai Chambers, their Boards of Directors

The legislations also enable Dubai Chambers to map out a clear vision for the future by adding more roles and powers

Financial soundness of UAE banks robust, says central bank

Economic recovery expected to support healthy balance sheet growth of banks

UAE Central Bank M1 increased by 2.1% at end of November 2021

The Money Supply aggregate M2 increased by 1.3%

Saudi Superyacht Dispute Pits Credit Suisse Against Gulf Prince

filing. The property estate, situated close to the storied Wentworth Golf Club outside London, was valued at 35 million pounds ($47 million) in 2019.

UAE Faces Risk of Inclusion on Global Watchlist Over Dirty Money

Finance watchdog expected to make its decision early this year

Saudi prince at war with bank over £48M super-yacht

The Swiss bank says two companies defaulted on two loans it had provided to refinance the purchases, and claims Prince Fahad, the guarantor for the loans, is the ultimate beneficiary of the assets, Bloomberg reports.

United Arab Emirates: How To Be Protected From Bank Fraud And Procedures To File A Complaint

Once the criminals have intercepted the data on the card's magnetic strip and /or the user's secure pin, the data is then used to create fake cards with which funds are then fraudulently withdrawn.

New UAE law: 11 things all bank account holders should know

The UAE’s revised Commercial Transaction Law came into effect earlier this week

QCB issues QR600m treasury bills for Jan

Treasury bills are issued through auction for banks operating in Qatar.

The Law Office of Salman M. Al-Sudairi and Latham Advise on the first ever IPO of a technology start-up in Saudi Arabia

Jahez’s SAR1.6 billion IPO marks the first listing in 2022 in Saudi Arabia.

DIFC launches specialised court for digital economy

“The goal of the judicial system and courts in Dubai is to deliver prompt justice in a country where the law prevails,” he added.

Barwa Real Estate obtains three global accreditation certificates

AlBinali emphasised that this achievement will constitute an additional incentive to continue Barwa Real Estate’s plans towards developing new projects that adhere to international standards.

Deloitte's 1,100 employees in UAE adopt Monday-Friday work week

“The new working week will also bring the UAE’s financial services sector into closer alignment with global real-time trading and communications-based transactions such as those driving stock markets, banks and financial institutions.”

Saudi central bank to launch repo operations using Bloomberg from this month

New system to increase efficiency of liquidity management in Saudi banking system

United Arab Emirates Updates Federal Labour Law

Beginning 2 January 2022, the entirety of the United Arab Emirates’ existing labour law (Federal Law No. 8 of 1980) and any subordinate regulation will be repealed and replaced with the new Federal Decree-Law No. 33 of 2021 (the Labour Law Decree).

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