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

Valu receives initial approval from the Central Bank of Jordan to launch operations

Marking a major milestone in Valu’s regional growth strategy and commitment to financial inclusion in Jordan

Saudi: New Property Ownership Law will take into effect in January 2026

The Cabinet's approval of the updated law is an extension of real estate legislation aimed at developing the real estate sector and encouraging foreign direct investment: minister

Qatar's GTA refers 13 companies to the Public Prosecution for tax evasion

The General Tax Authority urged all taxpayers to adhere to the legally mandated deadlines for submitting transparent and accurate tax returns

World Bank Group Opens its First Office in Oman

The presence of a permanent office for the World Bank Group will enable the WB to follow up private sector project financing agreements

Saudi Arabia issues over 80k new commercial licenses in Q2 as business activity accelerates

Rise driven by activity in high-growth industries

Khaleeji Bank signs MoU with Euro University Bahrain to provide innovative education financing solutions

The agreement aims to offer tailored educational financing solutions to the university’s students and their parents

UAE Central Bank fines foreign bank branch Dh5.9 million

The branch was fined for violating anti-money laundering rules

QCB issues government bonds and sukuk worth QR5 billion on behalf of Ministry of Finance

Total bank bids for government bonds and sukuk reached QR 10.7 billion.

UAE signed 146 agreements to avoid double taxation on income in 2024

Emirates also raised $4.6 billion from sale of T-sukuks through 14 auctions, according to Ministry of Finance

UAE Central Bank suspends bank's Islamic window from onboarding new customers for six months

Lender also fined Dh3.5 million for non-compliance with Sharia governance rules

Central Bank suspends new Islamic banking customers at UAE bank, imposes Dh3.5 million fine

CBUAE action follows Sharia governance violations found during inspections

CBUAE fines UAE-based exchange house Dh2 million for violating AML rules

Penalty imposed after exam found non-compliance with anti-money laundering procedures

Oman to introduce 5% income tax on high earners from 2028

The new tax regime aims to broaden revenue streams while ensuring that most citizens remain unaffected

UAE’s central bank maintains base rate at 4.40%

This decision was taken following the US Fed’s decision to maintain the interest rate on reserve balances

Türkiye's central bank weighs rate cut as inflation softens: analysts

Türkiye's central bank expects annual inflation to decline to 24 percent at the end of this year and 12 percent by the end of 2026

Ajman Bank signs partnership with Azimut Group to offer investment advisory and opportunities to its clients

The agreement brings together Ajman Bank’s growing wealth platform with Azimut’s international investment expertise

ADGM FSRA implements amendments to its Digital Asset Regulatory Framework

To streamline the process by which Virtual Assets are accepted for use within ADGM

Kuwait to cut off utilities for unpaid bills under new law to curb debt evasion

Residents given 30 days to pay or lose water, electricity under tough new decree

Qatar Central Bank's foreign reserves grow 3.60% in May 2025

According to figures released by QCB, its official reserves rose by $2.39bln, or 4.57%, year-on-year

United Arab Bank launches strategic Rights Issue to raise up to $280.4mln

The New Shares will be issued at an issue price of AED1 per New Share (the "Issue Price")

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