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

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

UAE and Netherlands to boost trade ties

The total non-oil foreign trade between the pair has reached more than $3 billion in 2020, the minister said.

EBRD and EU support crisis recovery in Morocco

The financing will help the company to increase its exports to European markets.

JTC Continues Middle East Growth With Abu Dhabi Licence

The development enhances JTC’s commitment to the Middle East market and follows growth in the Dubai office.

Kuwait approves law to guarantee bank loans for pandemic-hit businesses

The parliament also agreed to allow citizens that had been affected to delay repayments

New law implementing the P2B Regulation

It sets out the conditions and eligibility requirements for non-profit organisations

Tax haven ranking shows countries setting global tax rules do most to help firms bend them

Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations

Al Etihad Credit Bureau includes Ras Al Khaimah Court-ordered financial obligations in its credit reports

RAK Courts become the first court in the UAE to provide credit information to AECB

The General Tax Authority announces extension on tax returns by two months

The General Tax Authority works closely with its partners from the competent government agencies to monitor the country's economic situation considering the current challenges

Erdogan fires central bank deputy governor

A Bloomberg report said Mustafa Duman, a previous board member at Morgan Stanley, was chosen as his replacement

Qatar International Court confirms status as opt-in court of arbitration

The law allows parties to elect the First Instance Circuit of the Qatar International Court as the “competent court” of the arbitration

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