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

DIFC Court clarifies its jurisdiction in long-running Abraaj claim

The DIFC Court has the discretion to exercise its jurisdiction even where there is an opt out clause.

Dubai says gold-trading allegations are 'lies' and 'attacks'

UAE officials say critics feel threatened by the country’s success in building a gold industry.

Dubai regulator unveils sustainable finance task force in DIFC

The SFTF will meet in January to discuss the next steps and how issues surrounding sustainable finance could be progressed.

Turkey faces threat of inflation, currency crisis

But the lira is likely to continue its freefall and another abatement is likely in December, experts said.

Taiwan's taxation pact with Saudi Arabia takes effect

The agreement is the 34th taxation pact Taiwan has signed with another country, according to the MOF.

DFSA launches task force on sustainable finance in DIFC

Sustainability forms a key area of regulatory focus for the DFSA

UAE Labour Law revamp will help businesses in talent war

Dubai-based Luke Tapp of Pinsent Masons, the law firm behind Out-Law, was commenting after Federal Decree - Law No.33 of 2021 on the regulation of labour relations in the private sector was issued.

UAE Central Bank issues guidance for licensed exchange houses to combat money laundering

The country has strict laws to prevent money laundering and the financing of terrorism

United Arab Emirates a go-to offshore haven for Africa’s political and business elite, leaked records show

The UAE’s record on illicit finance raises concerns for its relationship with the world’s poorest continent, experts say.

Top US Treasury official urges UAE bankers over vital 'open communication' on illicit activities

"Participants shared their views about the banking sector's role in the global economic recovery, risks facing the financial sector in the region, and cybersecurity.

Commercial Bank launches 'direct payment service' in cooperation with General Tax Authority

CIB will also provide real time update to GTA of the payment status.

Guidelines for Financial Institutions adopting Enabling Technologies: UAE regulatory authorities

The Guidelines, published Monday, set out cross-sectoral principles and best practices for financial institutions

UAE regulators issue guidelines to financial institutions on use of enabling technologies

The recommendations will help the financial institutions to 'proactively and appropriately' manage risks arising from innovative technologies

PwC Legal grows presence in Saudi Arabia with local partnership

PwC’s Legal arm has extended its footprint in the Middle East through a partnership with Dr. Qaisar H Metawea Law Firm, a Saudi Arabia based boutique.

UAE Government amends federal tax procedures

This is the first time that the FTP law has been amended since its introduction in 2017.

Egypt abolishes share deals stamp duty and cuts profits tax

The move includes the abolition of the stamp duty on stock market transactions for the resident investors, and deducting all expenses related to trading and preserving shares and other tax bases.

Jersey and UAE sign landmark 'first of a kind' treaty after years of talks

This historic agreement will enhance business flows and protect investments between our jurisdictions.

UAE unveils residency visa for retirees

They will need to meet one of three financial conditions for their application to be granted

Abu Dhabi Securities Exchange proposes region’s first SPAC regulatory framework

We will continue to support the economy of Abu Dhabi by promoting innovation and enhancing the business environment.

How will two new regulatory heads in the Middle East shape its future?

Amid the many changes occurring in the region, two new head of key regulators have come on board this year to help shape its future.

Legal, Tax, Regulation & Compliance