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

Banque Misr, Arabia Holding ink $50.92mln loan agreement

Arabia Holding will secure the loan to finance the first and second phases of Sun Capital project, spanning 557 acres in the Sixth of October city, the state-owned bank added

Kuwait considers reducing visa fee for residents aged over 60

The country had earlier banned the issuance of work permit renewals for expatriates aged 60 who do not hold university degrees

Prince Andrew's banker friend is named in 'plot to financially ruin oil-rich Qatar'

Qatar has accused Mr Rowland, 76, of launching a cover-up over his alleged role

SCA freezes new licences as UAE advisers face client-centric rulebook deadline

It also referred to applications previously submitted to the SCA which were "not completed or will be adjudicated before the date, in which this decision came into effect, shall be void", International Investment can reveal.

Macfarlanes secures important disclosure judgment in major conspiracy case

The Court upheld Qatar’s challenge to that privilege claim.

Lebanese central bank head maintains innocence against corruption charges

Lebanon’s crippled banking system is at the heart of a financial crisis

Saudi Arabia fights forged accounting certificates to enhance sector performance

(SOCPA) recorded about 517 forged accounting certificates out of 200,000 submitted to the authority during the past three years

UAE anti-money laundering rule: Some businesses find compliance is no easy task

Fines of Dh50,000 and more - even up to Dh5m - await businesses delaying AML compliance

PwC Academy and Wiley expand collaboration into CFA domain

The CFA program is designed to equip professionals with skills in investment, and is considered one of the more advanced distinctions in the investment management profession.

Saudi Arabia approves merger of 32 firms to mitigate losses

The merger will result in a closed joint-stock company to mitigate the impact of the COVID pandemic

DP World to facilitate trade finance from DIFC in boost to SMEs

Small and medium sized enterprises make up the bulk of economies around the world, including in Dubai

JumiaPay partners with the National Bank of Egypt to offer business payment services

These licences will allow for ease of online banking, a medium for merchants to integrate several payment modes, and enable the onboarding process of customers for electronic payments on the platform.

Qatar Islamic Insurance Group board recommends amendment for up to 100% foreign investors' ownership

This was announced on the company website and on the Qatar Stock Exchange social media sites.

Record-breaking quarter for issuance of foreign investor licenses in Saudi Arabia as investment recovery accelerates

Saudi Arabia's robust economic performance continues with 478 new foreign investor licenses awarded in Q1 2021, the best quarter since records began in 2005

Giambrone instructed in a One Billion Pound Cross-border Fraud Claim

The case represents one of the leading cases on cross-border litigation when issues of res judicata (final judgment) of foreign judgments fall to be considered in the courts of England and Wales.

19 UAE-listed companies now have women board members

The SCA made it mandatory for listed companies to have at least one women board member in March

Tackling money laundering in the Gulf

Recent policy efforts in the region hint at sea change for the tackling of illicit monetary flows, but there is plenty more to be done

Turkey’s banking sector marks net profit of USD4B

Deposits held at lenders in Turkey – the largest liabilities item – amounted at more than 3.9 trillion Turkish liras (USD469 billion), increased 12 percent from a year ago.

Why Britain’s punitive tax system risks deterring Middle East property investors

Experts say rising tax rates make residential homes less attractive to wealthy foreign buyers

Demand for Dubai's e-commerce licences jumps 63% in first half of 2021

The emirate issued 3,243 DED Trader licences in the first six months

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