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

EBRD President pledges full support for Turkey’s green transition

These major steps create the environment that allows the private sector and investors such as the EBRD to really step up investment activity.

Shariah-complaint finance in Saudi Arabia hits $430bn, Central Bank head says

The total assets of Islamic financial services in the banking sector, sukuk sector, insurance sector and investment funds sector in the Kingdom amounted to nearly $800 billion, which represents approximately 28 percent of the total Islamic financial asset

Mashreq Bank reaches deal with US authorities, will pay $100m penalty

UAE bank reaches deal with New York's Department of Financial Services

Egypt central bank approves instant payment regulations

Egypt over the last two years has introduced a series of new legislation and regulatory changes designed to unleash fintech investments

Middle East data protection update

Vin Bange and Adnan Chida look at recent developments in data protection and cybersecurity in Qatar, Saudi Arabia and UAE.

Saudi Arabia arrests 172 expats and citizens on corruption charges

Employees from the General Presidency of the Commission for Promotion of Virtue and Prevention of Vice, and the Education and Training Evaluation Commission were among those arrested.

Swiss double taxation agreement with Bahrain

The new DTA promotes economic relations between Switzerland and Bahrain.

Malaysia's 1MDB gets go-ahead to pursue Abu Dhabi wealth fund in UK court

1Malaysia Development Berhad was an investment fund originally intended to develop the South-east Asian nation's economy.

UAE regulators and exchanges issue High-Level Statement on Sustainable Finance to advance national net-zero goal

Leading UAE regulators and exchanges, including MoE, MoF, the OSECC, MOCCAE, CBUAE, SCA, ADGM, DFSA, ADX, DFM, and Nasdaq Dubai, set out roadmap for sustainable finance growth

IBF Net receives shariah compliant certification for its impact cryptos

Social cryptos are a significant component of Confluence, the platform for measurement, rating and exchange of impact units, a project that recently won a place in the maiden cohort of FIKRA Accelerator program 2021 jointly offered by the Securities Commi

Saudi Export-Import Bank signs agreements worth over $100mln with DHAMAN

The agreements are part of the bank's efforts to provide financing and insurance products to Saudi exporters and increase the competitiveness of Saudi products in foreign markets

Dentons senior associate wins Rising Star Lawyer of the Year award

At the IFLR Middle East Awards 2021

Qatari Central Bank approves $50bln bank merger

The merged entity will be the second largest Islamic banking entity in Qatar

Central Bank of the UAE establishes Cyber Security Operations Centre

The Centre will be the leading security operations for the UAE’s financial sector

Former Abraaj managing partner fined $1.9m by Dubai regulator

Mustafa Abdel-Wadood is prohibited by the Dubai Financial Services Authority from doing any business related to financial services in or from the Dubai International Financial Centre

Dubai regulator fines former financial services firm director

He has appealed the decision and the case will go to a tribunal

UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators

The legal authority and powers given to these organisations are part of supportive measures aimed at helping them detect crimes and its perpetrators without prejudice to the legislation in force.

Legal, Tax, Regulation & Compliance