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

Alleged Italian drugs kingpin linked to stolen Van Goghs arrested in Dubai

Raffaele Imperiale, suspected of buying Van Gogh paintings on black market, considered one of Italy’s most dangerous fugitives

With Lebanon's banking secrecy suspended, A&M resumes its audit

Behind the scenes, the scheme benefitted the country’s elite class, who could enjoy decadent lifestyles off their interest income.

Qatar banks increase of non-Qatari ownership is latest in ‘pro-market policies’

In April, the Cabinet approved a draft law that allows foreign investors to fully own companies listed on the Gulf state’s stock exchange.

UAE Central Bank issues new guidelines on hawala transactions

New regulations will help combat money laundering and terror financing

UAE Central Bank issues new guidance to hawala providers and financial institutions

Guidelines will help combat money laundering and financing of terrorism

Cabinet approves increase of non-Qatari capital ownership in major banks

The Cabinet affirmed the continuation of work with the procedures and precautionary measures that have been taken in order to combat this pandemic.

LIBOR transition and Islamic finance in the GCC – accelerating the transition

While the transition away from the use of LIBOR towards risk-free rates (RFRs) or other benchmark rates has made great strides in the US, UK and some European markets

Middle East & North Africa: Handling transfer pricing disputes in MENA - The shape of water

Against this backdrop, the Middle Eastern economies are battling lower oil prices and budget deficits, which in turn increase the pressure for fiscal receipts.

UAE Securities and Commodities Authority's new promotion regime

Key takeaways of the UAE Securities and Commodities Authority’s new promotion regime.

UAE tightens measures to combat money laundering

Ministry of Economy affirms UAE’s continuing efforts to enhance compliance

Banque Misr, Arabia Holding ink $50.92mln loan agreement

Arabia Holding will secure the loan to finance the first and second phases of Sun Capital project, spanning 557 acres in the Sixth of October city, the state-owned bank added

Kuwait considers reducing visa fee for residents aged over 60

The country had earlier banned the issuance of work permit renewals for expatriates aged 60 who do not hold university degrees

Prince Andrew's banker friend is named in 'plot to financially ruin oil-rich Qatar'

Qatar has accused Mr Rowland, 76, of launching a cover-up over his alleged role

SCA freezes new licences as UAE advisers face client-centric rulebook deadline

It also referred to applications previously submitted to the SCA which were "not completed or will be adjudicated before the date, in which this decision came into effect, shall be void", International Investment can reveal.

Macfarlanes secures important disclosure judgment in major conspiracy case

The Court upheld Qatar’s challenge to that privilege claim.

Lebanese central bank head maintains innocence against corruption charges

Lebanon’s crippled banking system is at the heart of a financial crisis

Saudi Arabia fights forged accounting certificates to enhance sector performance

(SOCPA) recorded about 517 forged accounting certificates out of 200,000 submitted to the authority during the past three years

UAE anti-money laundering rule: Some businesses find compliance is no easy task

Fines of Dh50,000 and more - even up to Dh5m - await businesses delaying AML compliance

PwC Academy and Wiley expand collaboration into CFA domain

The CFA program is designed to equip professionals with skills in investment, and is considered one of the more advanced distinctions in the investment management profession.

Saudi Arabia approves merger of 32 firms to mitigate losses

The merger will result in a closed joint-stock company to mitigate the impact of the COVID pandemic

Legal, Tax, Regulation & Compliance