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

Banks in Egypt increase capital to comply with new banking law

Law stipulates minimum capital of EGP 5bn for banks operating in Egyptian market, $150m for foreign bank branches

Zu'bi & Partners won at the Chambers middle east awards 2021

The award was presented on an online live broadcast on 7 April 2021, organized by Chambers and Partners, the market leader in legal research and publishing

Emirates NBD to sell controlling interest in Dubai Bank to Abu Dhabi-based Eradah Capital

Statement to Dubai Financial Market said transfer is expected to complete this year

Central banks turn back to gold purchasing; global reserves rise by 8.8 tonnes

Buying activity had slowed down in second half of 2020

Qatar participates in GCC meeting on municipal legislation

Participants stressed during the meeting on the importance of activating the role of community engagement in regulation and inspection by using social media, and promoting that sides in all fields of municipal work.

Another Record-Breaking Year For Middle East Debt Markets

Middle Eastern states hit the international debt markets with gusto in 2020, setting a record. Issuance is expected to be even higher this year.

PwC’s Academy brings internationally recognised VAT diploma to Oman

The VAT diploma is delivered by highly experienced tax professionals and is a modular format, split into four manageable sections to accommodate the demanding schedule of working professionals.

CMA issues administrative decision

The decision excluded the international bonds issued by the Omani Government

Gulf growth forecasts raised by IMF

The United Arab Emirates, the Gulf’s second largest economy, will see growth of 3.1 percent this year

Bank Nizwa approves distribution of cash dividend for shareholders

The AGM also disclosed the Sharia Supervisory Board’s Report for the year ending December 31, 2020.

QFB improves balance sheet, overall liquidity position in 2020: Chairman

During the meeting, the AGM discussed and approved all items on its agenda, in addition to the business plan for the financial year of 2021.

Lebanon’s central bank to commit to audit as Macron urged to freeze ‘doubtful’ assets

French President Emmanuel Macron should freeze suspect assets held by Lebanese officials in France to break a “political-economic mafia” that has plunged Lebanon into crisis and misery, an open letter said Tuesday.

Middle East's life sciences players face high corruption risk

Other windows for corruption in life sciences include charitable donations, grey areas around public private partnerships and patient support programmes.

Kuwait wealth fund reaches initial agreement on KPC dividends - source

KPC has owed for years about $23bln in dividends to the General Reserve Fund

Mohammed bin Rashid approves Emirates Development Bank strategy

Allocating AED30 billion to support priority industrial sectors over five years

Saudi Arabia has come a long way in diversifying economy, World Bank says

The World bank is ready to support regional countries technically and financially on their economic reform journeys

Sawari Ventures raises US$71M for investing in Egyptian startups

The fund has increased its investment in high-growth Egypt companies to $68 million.

Egypt, Japan sign MSME facility agreement worth $100m

New facility aims to boost MSMEs to lead Egypt’s economic growth

UAE central bank issues best practice rules for financial p

The regulation "strengthens governance over the design, promotion and sale of financial products and services, and promotes responsible financing practices and appropriate disclosure of risks".

Oman: New Economic Stimulus Plan includes extensive tax and other incentives

The plan contains a broad range of tax incentives for companies including enhanced relief for 2020 losses and an extension of the period for which withholding tax on dividends and interest paid to certain nonresidents is suspended

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