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

Doha Bank Wins "The Bizz 2014 - Beyond Success" Award

This is the third consecutive year in which Doha Bank has won a BIZZ award

Kuwait Wealth Fund to Sell $5.4 Billion of Company Stakes

Kuwait Investment Authority, the sovereign wealth fund which started as a Bank of England account dedicated to receiving oil money, will sell stakes in three local companies worth 1.56 billion dinars

Kuwait's Burgan Bank says plans 21.6 mln dinar rights issue

Burgan Bank , Kuwait's third-largest lender by assets, will launch a 21.6 million dinars rights issue by the end of 2014 pending regulatory approvals, it said in a bourse filing on Sunday.

BBK launches new product for NRIs

BBK has announced the launch of its new and improved mortgage loan product for the benefit of Non-Resident Indians through its branches in India.

Saudi Credit Bureau banks on sophisticated mechanisms

The value of checks bounced came down to SR3.8 billion in 2012 from a high of SR15 billion in 2009.

Citigroup to continue Egypt operations

Egypt is an important market for Citi which will continue to serve clients of its institutional businesses

NBK awarded ‘Best SME Credit Card Programme’ in Middle East & Africa by MasterCard

NBK was the only bank from Kuwait to win an award at the event

Loyal depositors shoulder Turkey's Bank Asya while political war rages

The Islamic lender, which has more than a million deposit-holding customers and 282 branches, is caught in a power struggle between President Tayyip Erdogan and Fethullah Gulen, an Islamic cleric whose sympathizers founded the bank.

China to expand bank operations in Qatar

The request from Chinese authorities is pending before Qatar. Qatar is keen to open Islamic banks in China as well. More than one Qatar-based Islamic banks have expressed their interests in opening their branches in China.

Doha Bank launches 1st e-bank branch in Dubai

Doha Bank has announced the inauguration of its first electronic branch in Dubai.

Incredible response to ‘Life in Qatar’ initiative, says Commercial Bank

We are continuously looking to help our new customers settle in quickly and make Qatar feel like their home

No need for UAE banking sector consolidation: official

The majority of local UAE banks have reported double-digit profit growth rates for the first half of 2014

Saudi's National Commercial Bank to start IPO this month

Saudi Arabia's National Commercial Bank IPO-NACO.SE will begin its much-anticipated initial share sale later this month

Citi to expand in select business areas in the UAE

Global lender Citigroup said it continues to be an active player in the consumer banking and institutional business in the UAE, although it has announced exit from retail business in a number of markets across Europe, Middle East and Africa region.

Mashreq eyes Turkey acquisitions in major push

A number of local banks had been held up as potential buyers of UAE operations that sources said Standard Chartered was aiming to sell after it agreed to close some accounts there in an anti-money laundering settlement with authorities in the US.

Emirates NBD named ‘Bank of the Year’at Gulf Business Industry Awards 2014

The third annual Gulf Business Industry Awards were presented at a distinguished ceremony held yesterday,

FGB to launch the UAE’s first personalised credit card

The new product allows customers to choose their own design, card programme and loyalty scheme.

Commercial Bank's "Life in Qatar" service targets new expats

New arrivals without a bank account cannot deposit a salary, acquire a credit card, take out a loan, rent an apartment, get a car, or even use an ATM for free.

Dutch Rabobank receives green light to operate in Turkey

The watchdog approved the establishment of the lender, which will have the Dutch group as the controlling shareholder, in August 2013.

Bank Nizwa achieves 80% of network expansion plan

The Samayil branch marks the eighth opening in less than 24 months

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