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

Lebanon to ask consultants to resume central bank audit

Central Bank governor Riad Salameh said last month that he favoured an audit but that disclosing the accounts of local banks would require a change in legislation.

Morocco plan to repay IMF credit hints at economic turnaround

The IMF said a steady flow of remittances sent by Moroccan expatriates and lower imports helped maintain official reserves at “an adequate level.

Saudi Arabia: Misleading ads top Saudi FDA seizures

242 misleading ads prmoting false claims, scam products removed in four months

Egypt central bank forecast to keep interest rates unchanged

Egypt's central bank is set to leave its main interest rate on hold on Thursday, a Reuters poll showed

Qatar's swift policy response helps mitigate Covid-19 impact on economy: IMF

The authorities’ swift response – with strict prevention and containment measures and one of the highest per-capita testing rates in the world – allowed the country to resume all economic activities since September.

QDB extends National Guarantee Programme applications to June 15

Through this programme and updates, QDB aspires to continue its support to Qatari private sector and entrepreneurs in the best possible way, which will provide them with sufficient flexibility to achieve more growth, development and prosperity.

JPMorgan Ousted as Mideast-Africa’s Top Dealmaker by U.S. Rivals

Citigroup, Morgan Stanley lead region’s IPO, M&A league tables

UAE Central Bank to introduce Monetary Bills

CBUAE will be using Bloomberg AIM for order management processes of market operations

Lebanon parliament clears way for forensic audit of central ban

The IMF and France are among creditors demanding the audit as part of urgent reforms to unlock financial support

Here’s what you need to know about SIFI treatment

The competent authority should also prepare a treatment plan for each SIFI, including the treatment procedures and the possibilities of disturbance and causes.

Rules for Sharia-compliant transactions announced

The Accounting Board of the Accounting and Auditing Organisation for Islamic Financial Institutions announced the official issuance of financial accounting standard

Saudi Central bank increases weekly bill offering to $2.7bln

Increase was to "to enhance banks' efficiency in managing liquidity"

King Abdullah Economic City signs a financing agreement with SABB

The agreement was signed on November 7, in the Economic City, between Mr. Ahmed Ibrahim Linjawi, CEO of King Abdullah Economic City, and Mr. David Dew, the Managing Director of the Saudi British Bank (SABB)

Latest bid to resolve Arab-Qatari relationship crisis ends in failure: Egypt

Saudi Arabia recently indicated that a solution to the dispute was within reach as did Egyptian Minister of Foreign Affairs Sameh Shoukry.

PwC opens office at Dubai's Emaar Square, fourth in UAE

The Middle East marks one of its fastest growing practices in the world, spurred on by a business environment hungry for improvement and government-backed efforts to transform the region into an economy of the future.

UAE: new regulations for stored value facilities and cryptoassets

The new SVF Regulations substantially tighten up the existing regime and aim to ensure that all SVFs which are issued and operated in the UAE do so in a secure, sound and efficient manner.

Campaign to boycott UAE bank over ties to Israel

The agreement between the two banks came one day after the UAE and Bahrain signed agreements to normalise relations with Israel under US auspices.

Abraham Accords tie Israel and UAE banks and wealth together

Show more sharing options The pacts will normalise relations between Israel and the UAE, but it aims to do much more.

Bahrain chosen to launch global OECD Pensions Report for MENA region

The global organization which celebrates its 60th anniversary this week is considered to be the world's largest think-tank and research centre on pension

Turkish central bank ready to keep tight policy until inflation falls

On Nov 19, the bank announced that it decided to start providing funding via quantity repo auctions with one-week maturity, in order to simplify the operational framework of monetary policy.

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