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

Kuwait’s National Assembly panel passes law to reduce expat numbers

The draft law gives the government six months to determine the number of expats needed by the country

Egyptian expats' remittances rise to $2.9bln in July: CBE

Total remittances reached $17bln in seven months

UAE central bank failed to prevent Iran sanctions evasion: Report

Bank failed to act on warnings about a local firm which was helping Tehran to evade sanctions, leaked files show

Egypt's central bank attracts EGP 21 billion with T-bill auctions

The CBE offered T-bills in an auction on Sunday with the aim of attracting EGP 19 billion, with interest rates ranging between 12.9 percent and 13.6 percent

Saudi German signs R305 Islamic debt facility

Earlier this month, the company signed a R7m four-year lease contract for a hospital building in Jeddah with Bait Al Batterjee College for Medical Sciences and Technology.

DP World, Bank Leumi to Explore Israel Logistics Investments

The UAE and Bahrain last week signed agreements to move toward establishing normal ties with Israel, setting in motion a potentially historic shift in Middle East politics.

17,500 enrolled into Dubai's employee benefit scheme

The DEWS end of service scheme, details of which were released in January, is a low cost investment platform for receiving and managing mandatory employer end-of-service contributions on behalf of their employees and any added voluntary savings by employe

Al Baraka to change the operational structure of its parent company in Bahrain

The Group’s banking subsidiaries, including Al Baraka Islamic Bank, Bahrain, will continue their banking activities

Creditors take action against UAE's Al Jaber in decade-long saga

The move follows delays in restructuring agreements, under which Al Jaber was to appoint a new board and sell companies and assets such as the Shangri-La hotels in Dubai and Abu Dhabi.

Retire in Dubai: costs revealed

After a huge response there is now more information available for over 55s looking to retire in Dubai

Deutsche Bank: Suspected of facilitating funds to Daesh in Iraq

Despite this, some banks, including Deutsche Bank and specifically its US branches, continued to allow money transfers to be sent to Iraq despite the group’s control over large parts of the country.

Abu Dhabi Islamic Bank signs MoU with Israel’s Bank Leumi

The agreement will allow Israeli clients to transact directly in the UAE.

United Arab Emirates: Economic substance regulations amended and replaced

The new regulations and guidance have introduced important changes to the scope of the ES regulations, covered entities, compliance requirements, and governing authorities.

UAE Ministry of Finance launches third generation e-Dirham system

e-Dirham mobile app Mubasher and three prepaid cards with integrated benefits unvielied

UAE tech sector needs to get hiring right

Winning government contracts and not doing anything to recruit nationals is unacceptable

Qatar's QDB extends loan guarantee program by three months, lifts ceiling - QNA

The cabinet decision also raised the ceiling of the guarantees to 5 billion Qatari riyals, from 3 billion.

Iraq's inability to borrow money has 'plunged it into crisis'

In recent weeks, the Iraqi the government rejected the borrowing terms of the International Monetary Fund and the World Bank.

UAE Central Bank reviews continuous development plans, new initiatives

The board members addressed the bank's operational plans and approved the consumer protection framework and regulatory oversight of the UAE banking industry.

CBE Urges Banks to Offer Facilities As Six-Month Suspension of Loan Installments Ends

The CBE also called for taking into consideration the importance of avoiding any pressure on companies' financial liquidity.

Bank Audi to sell units in Jordan and Iraq to Capital Bank

Talks on selling Egyptian business to restart with First Abu Dhabi Bank

Legal, Tax, Regulation & Compliance