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

Business confidence in largest Arab economies rises in May on robust economic momentum

Selling prices in Saudi Arabia rose at the quickest pace since August 2020 and optimism in the UAE improves further amid demand strength

Egypt seeks luring private investments from New Development Bank

The North African state is seeking to reinforce cooperation with the bank

Oman Arab Bank opens strategically relocated and enhanced Duqm branch in future economic hub

Strategically moved from its previous location that first opened in 2008

Saudi banking sector growth driven by mortgages: report

The rating agency noted that the government still held significant deposits with the Saudi Central Bank, also known as SAMA, amounting to SR637.5 billion ($170 billion) at the end of 2022.

UAE Central Bank issues rules to combat money laundering, terror financing

The guidelines align with the standards set by the Financial Action Task Force

Doha Bank announces launch of sustainable finance framework

Doha Bank is dedicated to fostering sustainable development and supporting the transition to a greener, more inclusive economy.

Capital Bank of Jordan : Wins Two Prestigious Awards

Capital Bank has also invested heavily in digital innovation

UAE banks’ Q1 profit surges 35%: Alvarez & Marsal

Incremental deposit growth outstripped credit growth for the first time since Q1’22 amidst monetary tightening

Banque Misr to secure $260mln loan from IFC for MSMEs in Egypt

The loan is scheduled to be signed off on June 30th

Omani banks set to benefit from improved conditions: Fitch

Fitch noted that Omani banks emerged from the Covid-19 pandemic with reasonable credit fundamentals which place the sector in a good position for improving profitability in 2023

NBK-Egypt reports KD 6.9 million in net profits

Al-Bahar emphasized that the continued growth of NBK-Egypt’s balance sheet

Warba Bank, Radisson Blu partner to offer ‘zero-profit financing’ for event hall rentals

Musaed Al-Mazyad, Deputy Chief Retail Banking Officer at Warba Bank, expressed his enthusiasm for this agreement

Bank Dhofar makes offer to acquire 100% of competitor Ahli Bank

The lender withdraws its merger offer and intends to pursue the takeover deal

Boubyan launches “Premium” account for its high-net-worth clients

Al-Mejhem: The new account complements the lifestyle of this segment, meets all their daily needs

QIB receives ‘Best Retail Bank in Qatar’ award

And ‘Excellence in Customer Centricity & Excellence in Mobile Banking’ from MEED Magazine

Gulf Bank educates customers on borrowing and financing

In support of the Diraya “Let’s Be Aware” campaign

UAE ranks second globally in customer trust: UAE Banks Federation

Under the guidance of the Central Bank of the UAE, the UBF works to support, accelerate and develop the digital transformation of UBF member banks

Oman's Bank Dhofar outlines terms of revised non-binding merger offer to Ahli Bank

The proposed offer extends to all Ahli Bank shareholders, granting them the liberty to elect to receive up to 25% of their consideration in cash, with the remaining allocation disbursed through freshly issued Bank Dhofar shares

Bank credit to private sector in Oman grows 4.8% to OMR19.9bn

Regarding the investments of conventional banks in foreign securities, the CBO bulletin said that it increased by 23.7 percent to reach OMR900 million at the end of March 2023.

QNB named ‘Best CSR Bank’

This recognition reaffirms QNB’s commitment to the highest ESG performance standards through the development of sustainable business and operating models and adoption of the best-related practices.