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

Kuwait Finance House to sell its stake in Sharjah Islamic Bank for $351m

This move is part of KFH Group’s broader financial strategy and follows its recent financial achievements and strategic mergers.

Citi inks referral agreement with Dubai's Network International

Citi has struck a referral agreement with Dubai-based Network International to offer the bank's corporate clients omnichannel payments services in the Middle East and Africa.

Relm expands global presence

Relm’s Dubai-based affiliate has a licence authorised by the Dubai Financial Services Authority.

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

Egypt extends term of central bank governor for a third year

Egyptian President Abdel Fattah El-Sisi has extended the term of acting central bank governor Hasan Abdalla for a third year, the official gazette said on Monday. Abdalla, who was head of Cairo-based Arab African International Bank for 16 years, was appoi

Central Bank of Oman issues treasury bills worth $70mln

The value of the allotted treasury bills amounted to OMR21 million, for a maturity period of 91 days

QFC CEO recognised as a Top Business Leader by Forbes Middle East

Underscoring Al-Jaida's exceptional leadership and QFC's significant contributions to the Qatar’s business ecosystem

Federal Tax Authority organises 40 events in six months to raise awareness about Corporate Tax compliance

The workshops gathered more than 8,000 participants across the UAE, with participant satisfaction growing to 97.5%

Kuwait Banks freeze accounts of those with revoked nationalities

In a significant development, banks have now started freezing the accounts of individuals whose nationalities have been revoked.

UAE Central Bank announces M-Bills auction on August 19

The CBUAE announces 26 Monetary Bills(M-Bills) tenders during the current year

Turkish central bank expected to hold rates steady next week

All 17 respondents in a Reuters poll on Wednesday expected the bank to keep its policy rate on hold in August.

Emirates Association for Franchise Development holds its inaugural meeting to discuss its new articles of association

During the meeting, FAD Board Members reviewed and discussed FAD’s updated Articles of Associations before officially approving and issuing it

Broad money supply in Oman grows to $61.5bln

During the same period, cash held by the public decreased by 3.6 percent, while demand deposits increased by 10.4 percent

KPMG merger forms 5,000-strong business in the Middle East

The business will be led by Abdullah Al Fozan, appointed as Senior Partner and CEO, and Emilio Pera

Federal Tax Authority collaborates with Mohammed bin Rashid Housing Establishment to further promote tax culture

The two entities are set to organise joint activities to raise awareness about processes for Tax Refund for UAE Nationals Building New Residences

Saudi Arabia announces updated investment law in latest reforms to business environment

The updated law brings together several existing freedoms and rights and expressly applies them to investors under one unified framework

UAE temporarily suspends 32 gold refineries for AML/CTF lapses

The ministry of finance said its inspections of the refineries uncovered 256 violations, eight for each refinery

QCB foreign reserves surge 3.89 percent in July 2024

The reserves consist of key categories: bonds and foreign treasury bills, balances with foreign banks, gold, and Special Drawing Rights, and the State of Qatar’s share at the International Monetary Fund.

Dubai to reduce work hours, suspend Friday operations for few government entities in summer

The initiative underscores DHGR’s unwavering commitment to fulfilling the requirements of various government entities

KPMG Saudi Levant and KPMG Lower Gulf vote to integrate

Merger will see a collective KPMG business comprising over 5,000 employees

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