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

LE 2.7M stolen from clients of Banque Misr

The head of Banque Misr explained how a fraud crime was committed by a gang formation, deceived a woman of the bank's customers, and stole more than 200 thousand pounds from her account.

The Limits of Litigation Privilege: Qatar v Banque Havilland SA

The Court found that, at the time PwC was instructed, there was little evidence to suggest that adversarial proceedings were reasonably in contemplation.

Net-zero emissions and financial industry dilemmas

Reaching net-zero, the point when the amount of carbon released into the atmosphere is the same as the amount removed, will reshape global economies and put the financial sector under stress.

World Government Summit and Strategy& launch Urban Resilience Tool

The platform supports leaders by among others facilitating knowledge transfer across communities and networks, organising conferences and roundtables, and conducting research together with the globe’s leading consulting and research houses.

Introspect Capital appoints Shariyah Review Bureau

The Shari'a-compliant Fund invests in listed equities in the Middle East and North Africa, which are identified through a consistent, research-focused, bottom-up process

GAC needs to reintroduce itself with more mergers expected in Saudi Arabia

Post-pandemic economic hardships, many small and medium-sized companies in different sectors are exploring mergers as a strategic option for either growth or simply for survival.

Saudi SMEs get 3-year exemption from commerce fees

The initiative aims to support and reduce the startup cost of business

Eight individuals and three companies convicted for cyber fraud and money laundering crimes in Dubai

Dubai Public Prosecution investigation reveals defendants hatched elaborate plot to hack into a company's bank account and launder stolen funds worth around AED14 million

Curtis Establishes Presence in Saudi Arabia

The office will provide Saudi and international legal services to clients based in the Kingdom and Saudi legal services to international clients.

UAE Securities and Commodities Authority's new licensing regime

What you need to know about the UAE Securities and Commodities Authority's new licensing regime.

Alleged Italian drugs kingpin linked to stolen Van Goghs arrested in Dubai

Raffaele Imperiale, suspected of buying Van Gogh paintings on black market, considered one of Italy’s most dangerous fugitives

With Lebanon's banking secrecy suspended, A&M resumes its audit

Behind the scenes, the scheme benefitted the country’s elite class, who could enjoy decadent lifestyles off their interest income.

Qatar banks increase of non-Qatari ownership is latest in ‘pro-market policies’

In April, the Cabinet approved a draft law that allows foreign investors to fully own companies listed on the Gulf state’s stock exchange.

UAE Central Bank issues new guidelines on hawala transactions

New regulations will help combat money laundering and terror financing

UAE Central Bank issues new guidance to hawala providers and financial institutions

Guidelines will help combat money laundering and financing of terrorism

Cabinet approves increase of non-Qatari capital ownership in major banks

The Cabinet affirmed the continuation of work with the procedures and precautionary measures that have been taken in order to combat this pandemic.

LIBOR transition and Islamic finance in the GCC – accelerating the transition

While the transition away from the use of LIBOR towards risk-free rates (RFRs) or other benchmark rates has made great strides in the US, UK and some European markets

Middle East & North Africa: Handling transfer pricing disputes in MENA - The shape of water

Against this backdrop, the Middle Eastern economies are battling lower oil prices and budget deficits, which in turn increase the pressure for fiscal receipts.

UAE Securities and Commodities Authority's new promotion regime

Key takeaways of the UAE Securities and Commodities Authority’s new promotion regime.

UAE tightens measures to combat money laundering

Ministry of Economy affirms UAE’s continuing efforts to enhance compliance

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