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

Lebanon banks association rejects draft govt financial plan

The ABL said it had no role in drafting the plan and had not seen an official version

Israel cenbank should be set to tighten if inflation gains further -IMF

Israel's inflation rate was 2.8% in 2021, within an official 1-3% target and well below rates seen in many Western peers

Saudi's SAMA bans banks from opening accounts for entities involved in illegal operations

These rules are contained in the updated Bank Account Rules that are mandatory and to be enforced by the Saudi banks effective from Feb. 2

PwC Legal enters Qatar market with new office in Doha

PwC Legal consists of a team of over 5,000 lawyers and legal professionals in 100+ countries.

GCC corporate tax rates are still attractive to foreign companies

The average top corporate tax rate among EU countries is 21.3 percent, 23.04 percent among OECD countries, and 69 percent in the G7, according to the US-based Tax Foundation.

EFG Hermes expects Banque du Caire to be listed on EGX in 2022

Saudi, Emirati sovereign funds are interested in health, pharmaceutical sectors in Egypt, says Mostafa Gad

Egypt's central bank keeps key interest rates unchanged

The committee kept the deposit rate at 8.25% and the lending rate at 9.25

KPMG launches inaugural ‘Asasiyat’ report

A strategy formulation exercise needs to focus on several critical aspects to be successful in achieving organisational vision, mission, and objectives.

UAE’s tax-free allure dims with new corporate profit levy

The ambitious plan aims to eventually set 15% as the base levy to stem international competition to offer more attractive rates.

Turkish central bank begins distributing 2021 profits to shareholders

Ankara has ramped up fiscal support for the economy amid turmoil following a slide in the lira's value and soaring inflation at the end of last year.

Dubai Islamic Bank expects UAE to remain globally competitive after new corporate tax

Dubai Islamic Bank CEO says the new UAE tax regime is “welcome”

Will a new tax dent business-friendly Dubai?

The UAE says it is coming into line with international taxation standards as large economies try to close tax avoidance loopholes.

GCC Quarterly Review - Q4 2021

This follows the amendment to the SCA’s Resolution No.11/R.M of 2016 regarding the offering and issuance of shares on public markets

Central Bank of Kuwait Issues Digital Bank Guidelines

The guidelines were developed after studying the regulatory approaches of 25 central banks and the business models of 40 digital banks.

Saudi sovereign fund in talks for extension on $15bln loan: sources

The sovereign wealth fund started raising bank debt in 2018

UAE unveils 9% corporate tax

It ‘shouldn’t pose any issue to businesses looking to benefit from life and opportunities’ in the country

UAE Central Bank launches new general terms and conditions for standing credit and liquidity insurance

Move defines discretionary powers related to activation of facilities

UAE to impose 9% corporate tax on businesses from June 2023

No corporate tax will be imposed on personal income from employment, real estate or other investments, according to the country's Ministry of Finance

CBUAE launches new general terms and conditions for its standing credit and liquidity insurance facilities

The new terms and conditions, which will come into effect on March 1, 2022, define the discretionary powers related to the activation of these facilities, and the guidelines for collateral management

Why employees will continue to pay no income tax in the UAE

What is the difference between corporate and salary tax?

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