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

How will the new trusts law change the UAE advice sector?

Clients will ‘embrace having their assets protected’ in the country opposed to other ‘offshore centres’

Masraf Al Rayan gets shareholder’s nod to raise sukuk size to $4bn

This will lead to the formation of a larger and stronger bank with a strong financial position and high liquidity with a variety of banking activities, customer portfolios, distinctive products, and a stronger base for financing development initiatives in

Egypt: Central Bank Offers $820 Million Worth of Treasury Bonds

Egypt’s deficit rose to $2.8 billion in the July-September quarter, up from $1.4 billion in the same quarter of 2019, as the North African country felt the economic impact of the coronavirus disease (COVID-19) pandemic.

Financial Services ‘has key role in Bahrain’s development’

Yousif noted the emphasis of HRH Prince Salman on developing policies and legislation supportive of the openness and the growth of the private sector, and continuing work to achieve financial balance in pursuit of economic sustainability.

Saudi Arabia answers questions on regional HQ policy

To achieve its goal of more than doubling the city’s population to 20 million in the space of ten years, the Saudi government will pour around $220 billion into major local projects, a figure it hopes will be matched by private sector investors.

Essential Clauses Of Share Purchase And Assignment Agreements In UAE

The legal document is legally binding, which means it obligates a seller and a buyer in selling and buying respective shares.

Dubai's DIFC Courts reports influx of businesses filing cases in 2020

Total value of claims up 72% to $2.7mln

Bank customers urged to update documents on record

Applicants may visit the Embassy during office hours, with no appointment needed, and request for a passport validity extension which will also be released on the same day.

UAE to train anti-money laundering professionals under new programmes

Under the programme, 140 professionals in federal and local authorities will be trained

UAE Central Bank imposes Dh600,000 penalty on individual linked to exchange house

Individual banned from any future functions at licensed financial institutions

Israel: Characterization of recharges for provision of stock-based compensation clarified

In the circular, the ITA identifies the conditions under which a payment will be characterized as a repayment rather than as a dividend (or a reduction in equity).

UAE focuses on consumer protection with new laws

The law requires all businesses to provide an aftercare service and repair or replace a product if a defect occurs.

The changing role of in-house legal in the Middle East

Recognising how the role has changed and what can be done to ease the strain on in-house legal staff will be vital for businesses, to ensure that the team can continue to perform successfully for the whole company.

UAE Executive Office to combat money laundering, terrorism funding

Specialised court in Abu Dhabi to look into money laundering, terror financing cases

UAE Central Bank imposes Dh600,000 penalty on individual linked to exchange house

Individual banned from any future functions at licensed financial institutions

Oman SME registrations surge 14.4% in 12 months

The number of SMEs registered in the Governorate of Al-Wusta stood at 652 and the Governorate of Musandam 185, which was the lowest among governorates registered in January 2021.

Banks to inject EGP 117bn into MSMEs until 2022 end: CBE

Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio

Egypt’s Banque du Caire eyes slimmed-down IPO post-Covid

Banque du Caire was on the cusp of completing a $500 million listing in London and Cairo last year when Covid hit.

Saudi Arabia’s financial regulatory authority refers five suspects to Public Prosecution

The statement said it had detected similar suspicious practices between Jan. 20 and Oct. 1 last year

QCB planning to launch regulatory sandbox for entities to test fintech solutions

The QCB has taken on a role of the “orchestrator” of Qatar’s fintech strategy, in addition to acting as the central regulatory authority of its fintech ecosystem, a QFC-Refinitiv report said.

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