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

Ashurst’s M&A team sees two deal mandates in Abu Dhabi close

A new venture set up in Abu Dhabi Global Markets.

Financial positions of banks in Egypt rise by EGP 532bn in Q1 of 2021: CBE

Capital at banks amounts to EGP 177.92bn, reserves register EGP 347.826bn, provisions score EGP 165.588bn

Dentons advises Ahli United Bank K.S.C.P. on their US$600 million Tier 1 sukuk issuance and the tender offer for their US$200 million capital certificates

The issuance was dual listed on the regulated market of Euronext Dublin and on Nasdaq Dubai, and was offered to sophisticated investors outside the US in reliance on Regulation S under the US Securities Act 1933.

Bank of Sharjah rewards shareholders with AED100m bonus share issue on back of strong underlying profitability

Bank of Sharjah has received all regulatory approvals for its AED100m bonus share issue

Banking system in Qatar proved ability to mitigate risks: QCB Governor at Qatar Economic Forum

His Excellency explained in this context that what is worrying is that interest rates have been low over the past years, with investors investing in high-return instruments.

Saudi Arabia Takes Banking Industry Leap by Approving Digital Banks

The state economy and the public and private sectors benefit from digital banks' presence, specialists confirmed to Asharq Al-Awsat.

Saudi Cabinet authorizes finance ministry to issue licenses to STC Bank and Saudi Digital Bank

The Cabinet approved the proposal during a virtual meeting chaired by King Salman, it said.

Digital licenses will lead to a ‘new style’ of banking, experts say

Hafiz also praised the effort of the Saudi Central Bank (SAMA) to “broaden the scope and efficiency of innovative services” available in the Kingdom.

Saudi Arabia's Bank AlJazira markets AT1 Islamic bonds, document shows

Alinma Investment Company, Aljazira Capital and JPMorgan are arranging the deal

Egyptian president approves July pension and wage increases

Egypt’s budget, to be implemented in early July, also includes two bonuses at a cost of about 7.5 billion Egyptian pounds

Ashurst advises Abu Dhabi Catalyst Partners

Based in the Abu Dhabi Global Market, Alphastream has established a multi-commodity royalty and streaming business investing in emerging markets

Saudi finance minister issues license for STC and Saudi Digital banks - cabinet

"The finance minister will issue the necessary licenses for STC Bank and Saudi Digital Bank, both under establishment," the Saudi Press Agency added

Saudi Arabia to improve its legislative and business environment

These law reforms represent the Kingdom's intention to entrench the principles of justice, transparency, protect human rights and achieve comprehensive and sustainable development in different sectors

DFSA imposes restrictions on FFA Private Bank (Dubai) Limited

The prohibition will remain in place until FFA is able to demonstrate that it has addressed these weaknesses. FFA is cooperating with the DFSA to resolve the issues

Expat divorce has radically changed since recent UAE legal overhaul, say lawyers

Spousal support, separating assets and joint custody is increasingly based on laws of the country where the couple married

PwC Legal Middle East wins two awards

PwC Legal Middle East winners of the Innovation through Technology Team of the Year and Banking, Finance and Restructuring Team of the Year and finalists for International Law Firm of the Year at the Middle East Legal Awards 2021

UAE, UK seek to identify, tackle money laundering and terrorist financing

Programme focused on enhancing protocols designed to identify and tackle money laundering practices, while stemming the flow of funds and commodities for illicit means

Saudi Arabia awarded highest ICT regulatory classification by ITU

Saudi Arabia achieves the G5 regulator classification two years ahead of the targeted date of 2023, set by the ICT Sector Strategy 2023

A guide for company directors in Saudi Arabia

This guide aims to help Saudi Arabian companies and their investors

Sohar International introduces Escrow accounts for real estate sector in Oman

The introduction of escrow account is key to this objective, as it protects deposits of investors following the purchase of real estate developments within the country

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