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

Dubai-based company setup firm expands operations in Saudi Arabia

The company helps new entrants into the market to manage the legal requirements, arrange employment visas and other paperwork

Saudi British Bank swings to $245mln Q2 net profit

Lower provisions and drop in opex contributed to the net income

Investcorp swings to profit, N.American PE fund raises $1bln

Investcorp has also raised almost $300mln for its Technology Fund V so far, out of a target of $500mln

Saudi mortgage lending surges 27% in first half of 2021 - SAMA

Saudi banks and financial institutions lent $21.06bln for residential mortgages H1 2021

Mena region to see more SPAC deal

SPAC is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company

Qatar’s fiscal account to return 'surplus' this year on 'recovering' oil price: EIU

On currency, EIU noted the Qatari riyal's peg to the US dollar will continue to be backed by “healthy” foreign reserves and QIA assets.

GCC’s Islamic insurers face profitability challenges in 2021

High completion, asset price riks and slow premium collection to weigh on 2021 earnings

Saudi Arabia plans $15bln technology fund with private investors- report

Investments in the fourth industrial technology to reach $200bln

EBRD and Jordan Securities Commission strengthen cooperation

The EBRD is providing technical assistance to bolster the resilience of Jordan’s capital market, supported by €1.05 million of funding from the government of Japan through the Japan-EBRD Cooperation Fund (JECF).

Barwa Real Estate posts QR533mn net profit in H1 2021

Development work on the two projects is expected to be completed by mid-2022;

Al Fardan exchange partners with Empay’s contactless ecosystem

“The partnership opens yet another channel to extend Al Fardan’s services to a wider audience in the UAE, offering even more flexibility and choice to customers,” said Mr. Hasan Fardan Al Fardan, CEO of Al Fardan Exchange.

US consultancy The Carnrite Group launches in Middle East

“We are excited to continue growing our team internationally, and thankful for our clients worldwide who trust us to help them with difficult business decisions,”

For the first time in Qatar: Spendwisor secures QAR190 million ($50 million) capital commitment from Global Emerging Markets (GEM)

GEM will provide Spendwisor with a Share Subscription Facility (SSF) of up to QAR 190 million for a 36-month term following a public listing of Spendwisor's common stock.

Egypt's SODIC concludes $22mln securitized bond issuance

The bond is backed by receivables portfolio of units in Egypt projects

Liquidity Capital Partners With YAS Investments, Launching USD 100m Venture Debt Fund Targeting Middle Eastern Tech Start-Ups

The new fund YAS Liquidity will focus on supplying non-dilutive capital to drive growth for businesses across the region

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