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

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.

Abdulaziz Alajlan & Partners in association with Baker & McKenzie Limited advises Euroclear Bank on its strategic direct link agreement with Edaa

The agreement signed on 27 October 2021 at the Future Investment Initiative (FII) 2021 conference in Riyadh will enable Euroclear Bank to open a direct account with Edaa, offering an additional channel through which international investors can access the

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

Legal, Tax, Regulation & Compliance