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

Egypt's CIB says signs deal to sell investment bank to Orascom

CIB accepted a bid from billionaire Naguib Sawiris's OTMT to buy CI Capital earlier this month.

QSE names winners of investor relations excellence award

In the best IR website category, Ooredoo, Al Khaliji and Vodafone Qatar were the winners.

Ithmaar retail growth up, plans new holding firm

The improved performance was impacted by recognition of certain investment related impairment provisions, said a statement.

Qatari bank Al Khaliji eyes capital bond issue

Al Khaliji, Qatar's sixth-largest lender by assets, was also looking at issuing a dollar-denominated bond under its regular debt issuance programme to assist with its funding needs, having increased the size of the programme last year.

Saudi Arabia's NCB to close branches in Lebanon

The closures will have no impact on the bank's current financial statements, NCB said.

HSBC to Restructure Turkish Unit after Failed Sale Attempts

According to people familiar with the matter, HSBC will likely announce its intention to restructure its Turkish unit instead of pursuing a sale when it reports annual results on Feb 22.

Saudi Ahli Commercial Bank shuts down Beirut operations

They added that the bank had taken the decision to close its operation in Lebanon over a year ago.

Barwa Bank wins ‘Best Retail Bank for 2015’ award from CPI Financial

CPI Awards are based on a peer-vote process that reflects industry-wide recognition for winners.

Saudi Bank Closes Lebanon Branches

Informed banking sources expressed fear that the decision to close the bank’s two branches in Lebanon was the result of Hizbullah’s verbal attacks on Saudi Arabia.

Gulf Bank named as ‘Best Cash Management Provider in Kuwait’

This award recognizes providers that offer sophisticated domestic, regional and/or global solutions with an innovative technology backbone and a client-centric front end.

Al khaliji wins 'Banker Middle East' awards

It includes awards in the categories of 'Best Premium Banking Service', 'Best Corporate Account', 'Best Current Account' and 'Best Call Center.'

Bank Sohar, Bank Dhofar merger update, due diligence commenced

In statements to the Muscat Securities Market, Bank Sohar and Bank Dhofar separately advised that consultants appointed for legal and financial due diligence on the proposed merger of the two Omani banks had commenced work.

Barclays cuts 150 jobs in Mideast as it restructures corporate bank

Barclays has been reviewing its business globally after the appointment of Jes Staley as chief executive in December 2015.

JS Bank opens new branch in Bahrain Bahrain

The opening of the Bahrain branch is an important milestone for us as it gives us our first footprint outside of Pakistan

NBK the most valuable banking brand in Kuwait: Brand Finance

According to Brand Finance, NBK’s Brand value reached $1.39 billion, up 33 percent year-on-year. Also, NBK’s brand rating is ranked AA, among the top in the region.

Doha Bank bags four awards

The awards were received by Dr. R. Seetharaman, CEO of Doha Bank and Senior Management from the Retail Banking, Treasury Investment and Technology departments at a ceremony held in Doha last week.

NBF Capital recognised as “Best Customer Experience Team”

NBF Capital is regulated by the Dubai Financial Services Authority

Qatar Development Bank launches The Franchise Project to encourage local SME international growth

10 SMEs to 5 countries in 3 years

Alizz islamic bank CEO honoured with GCC’s ‘Top CEO’ Award

The awards celebrate the achievement of the region’s top players in the market, making them the most credible and transparent in the region

Iran's financial regulator plans mortgage-backed securities market

The new MBS rules, released by the SEO last week, include strong consumer protection features