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

UAE conducts cyberattack simulation on banking sector

Central Bank tests banks' resilience against cyber threats.

Qatar seen pushing forward VAT implementation: EY

Qatar’s recent implementation of an excise tax based on the underlying principles of the GCC excise tax framework appears to suggest that Qatar may still be committed to implementing VAT in the future.

Venture Studios: The new greenfield for scaling start-ups?

The UAE dominated with more than half – around $580 million – of this investment, while the KSA was the third largest recipient country at just over $150 million.

Ahli Bank, Oman, is 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.

Kuwait ministry to discuss imposing 1% tax on remittances

The Legislative Committee will discuss fees on remittances regardless of the currency individuals or companies

Beware: You can be guilty of money laundering if you do this in the UAE

UAE Public Prosecution issues clarification

Turkey’s central bank vows tight policy for ‘extended’ period

Therefore, it added, the effects of demand and cost factors on inflation are projected to diminish gradually.

Mansour bin Zayed chairs UAE Central Bank board meetingMeeting agenda included suggestions for banking supervision

Meeting agenda included suggestions for banking supervision

CBO bond issue gets overwhelming response

The issue was open for subscription from January 10 to 17, 2021.

Qatar posts robust 5.6% real growth in Q3 of 2020: PSA

The International Monetary Fund (IMF) has estimated that Qatar's real growth in 2020 would be subdued but will rebound in 2021.

Central Bank of Turkey to release interest rate decision

Renewed faith in Turkish sound monetary policy will attract greater FDI in the medium- to long-term and, despite the negative short-term outlook, Turkey’s economy can be expected to grow 4.0% in the new year.

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

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

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