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

Qatar Central Bank announce Eid Al Adha holiday for financial institutions

Qatar Central Bank indicated that all financial institutions and banks will resume their business for the public on Sunday, July 25.

Clifford Chance advises as Banks’ counsel on Yahsat’s landmark IPO and listing on the ADX

With operations in more than 150 countries spanning five continents, Yahsat is the preferred partner for reliable integrated satellite communication solutions and an industry centre of excellence for both government and commercial customers.

UAE urges DNFBP executives to fight money laundering and terrorist financing

They include executives from professions outside the financial services sector that have heightened AML/CFT exposure

UAE Central Bank Sets Roadmap for CBDC Launch

The central bank prioritizes CBDC for its 2023-2026 roadmap.

Third financial dialogue between Switzerland and Saudi Arabia

OPEC+’s dust-up underlines supply management challenges

Demand for oil is therefore accelerating and the Organization of the Petroleum Exporting Countries together with allies including Russia, collectively known as OPEC+, are trying to agree how to balance supply to maintain prices.

UAE to issue its own 'Govcoin' digital currency amid crypto rise in region

The strategy will also see technology used across inspection, monitoring and insurance systems, in addition to utilising the UAE's digital ID infrastructure (UAE Pass) to bolster financial inclusion and easy access to financial services.

Al Sulaiti Law Firm, OSM Qatar and ERA Qatar announce joint initiative for companies

This is why Al Sulaiti Law Firm, OSM Qatar and ERA Qatar have decided to cooperate together to propose Corporate Advisory Services in the three most important areas of any business - legal services, company management, operational cost optimization.

Dentons advises Aldar Properties on first of its kind sustainability-linked loan of AED300 million from HSBC Bank Middle East

Aldar will use the loan for general corporate purposes, including planned environmental, social and governance (ESG) group initiatives.

Saudi's AHAB nears end of years long debt dispute

A bankruptcy judge is expected to indicate within 60 days a date for a creditor vote, and distributions could follow soon.

Turkey central bank governor under investigation for plagiarism

Opposition media have accused Arıcan of writing Albayrak’s thesis, citing leaked emails obtained by a Turkish hacker group.

Banks asked to prepare long-term NPL strategy

However, bankers and officials said that no final government decision was taken on a capital injection.

Mauritius Commercial Bank Ltd to adopt MITECH's TRAC Collateral Management system in the Cloud

The TRAC software will be implemented on a Cloud infrastructure, with the aim of going-live with the system before the end of the year.

Saudi pension changes could hamper early retirement plans

Riyadh's national pension scheme has a serious hole in its finances, thought to be to the tune of approximately $213 billion.

BAB signs MOU with Iraq Private Banks League

The two parties agreed to form a joint committee to consult and agree on implementing and following-up joint plans and programmes.

UAE seeks to tighten anti-money laundering and terror financing measures

Financial sector regulators and law enforcement agencies urged to tighten procedures

GCC Quarterly Review Q2 2021

The UAE Central Bank has issued two new regulations as to capital requirements.

Central Bank maintains Information Security ISO Certification

It also stresses that CBK’s data security management system meets the requirements for protection of information and data centers and enhances the information security level throughout the bank.

Turkey sets conditions in international agreements in favor of businessmen close to Erdoğan

The agreement states that priority in the selection of contractors will be given to contractors that are currently working on the routes specified.

Global tax reforms to impact tax liabilities of multinational companies in the UAE, Oman

UAE and Oman among 130 nations/territories endorsed the new tax reforms framework

Legal, Tax, Regulation & Compliance