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

Dubai regulator to develop cryptocurrency framework

In a statement the DFSA said it will be creating "a regulatory regime for digital assets (such as tokenized securities and crypto-currencies)."

Lebanon notified of probe into central bank chief

Switzerland seeks assistance from Lebanese judiciary over money transfers

Swiss authorities ask Lebanon to co-operate on central bank probe

Banks have since blocked most transfers abroad and cut access to deposits as dollars grew scarce.

Tax authorities should engage with businesses and their supply chains

The study also showcases the interconnectedness between the work of professional accountants and the legal profession and offers a combination of commercial substance and legal perspectives.

Ahli Bank, Oman, Becomes SunTec’s 50th Customer for its Indirect Taxation Solution

VAT is likely to be introduced in Oman in early 2021 and Ahli Bank has taken the proactive step of adopting a VAT compliance solution to ensure operational efficiency, enhance revenue, and augment customer experience.

Walkers acts as BVI counsel to Kerogen's disposal of stake in Energean Israel Limited

The transaction is conditional upon Energean shareholder, regulatory and other customary approvals with completion expected to occur in the first quarter of 2021.

QFC posts 63.7% jump in number of new firms in 2020

The QFC also continued to leverage its support to other firms across its strategic clusters, namely sports, media and financial services, registering 62 newcomers from these sectors.

Ithmaar says advisors start work on sale of Bahrain banking ops to BBK

Bank of Bahrain and Kuwait is seeking to buy Bahrain business of Ithmaar Bank

Kuwait's IFA Holdings to sell 17.4mln treasury shares

Company has been subject to $29mln bank seizure

Walkers Jersey Team Advises on £31m Sharia-compliant Refinancing

ADIB were advised on matters of English law by the CMS team of Shakeel Adli, David Stanbridge, Sean Gough, Lily Martin and Adrienne Fisher.

DIFC-LCIA arbitration rules modernised

Among the changes is wording that firmly integrates the use of electronic communications into arbitration processes.

Amendment Guide for Memorandum of Association for UAE Single Shareholder Company

Any amendment made to a memorandum of association’s clauses is referred to as an Amendment of a Company’s Memorandum of Association.

All that glitters: A look into illicit gold networks

A fresh investigation sparked at the start of this year may also reveal whether a smuggling syndicate possibly operating from Madagascar has been using the country as a conduit.

KPMG in Bahrain and the region continue its' growth despite the COVID pandemic

KPMG in Bahrain is a member firm of KPMG international

Naseej and Ithmaar Holding sign agreement to develop $105mn residential project in Bahrain

150,000sqm project will feature a total 400 units and is targeted at beneficiaries of Ministry of Housing’s Mazaya programme

Saudi Ministry of Finance inks $3b export financing pact with South Korean entities

Credit Agricole structured the landmark deal, which is Ministry's second since July 2020

Saudi-Qatari reconciliation could be a boon to Indonesia's SWF

The reconciliation will affect not only the relationship between the two countries

GTA, QFBA sign deal for specialised training

The collaboration agreement between GTA and QFBA was signed at GTA’s headquarters in West Bay by GTA president Ahmed bin Issa al-Mohannadi and QFBA CEO Dr Khalid Mohamed al-Horr.

Mortgage financing: Dubai Islamic Bank, EMAAR sign agreement

The agreement was signed between Junaid Ahmed, CEO Dubai Islamic Bank and Sohail Baig CEO, EMAAR Pakistan.

Saudi Arabia 2020 inflation rises to 3.4% after VAT tripled

The main drivers were prices of food and beverages, which increased by 9%, and transport, up by 3.8%

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