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

BlackRock, PIF launch multi-asset investment management platform in Riyadh

Both parties have expressed the intention to establish BlackRock Riyadh Investment Management

Arab Monetary Fund joins Dubai FinTech Summit as a strategic partner to host the Arab Regional FinTech Working Group

AMF to host the Eleventh Meeting for the Arab Regional FinTech WG followed by a workshop on Formulation of Effective SupTech Frameworks at the Dubai FinTech Summit

COP28 President addresses historic first Board meeting for the Loss and Damage Fund

Urging Parties to build on progress with a fully functioning fund that delivers lasting, positive, socio-economic impact

PIF set to have $2 trillion in assets under management by 2030: report

In March 2024, PIF’s assets under management surpassed $925 billion, up from $700 billion at the end of 2022

Alkhabeer Capital launches IPO of its traded fund unit

The Fund aims to distribute periodic returns of up to 8% annually by investing in various income-generating assets across local, and global markets.

LIBF and TFA Collaborate to Launch Internationally Recognised Certifications in Banking and Trade Finance in Saudi Arabia

The financial education powerhouses are introducing three new public certifications in the banking and trade and transaction banking space.

Saudi fund PIF's managed assets hit $749bln in 2023

The kingdom's non-oil government revenue reached 457 billion riyals last year and non-oil activities accounted for 50% of real gross domestic product (GDP)

Investcorp announces $1bn GCC fund along with China’s CIC

This initiative, announced at Investcorp’s China-GCC Investment and Business Cooperation Summit, aims to attract institutional and private investors from the GCC, along with CIC

Riyadh Cement’s shareholders greenlight dividends for H2-23

In 2023, Riyadh Cement recorded an annual drop of 0.56% in net profit

Fakeeh Care Group announces its intention to float on the main market of the Saudi Exchange

The Offer Shares will be offered for subscription to individual and institutional investors

Egypt: Al Ahly Sabbour eyes $104mln loans for developing 2 projects

Banque Misr is set to provide Al Ahly Sabbour with an EGP 3.5 billion loan for an integrated urban project owned by the firm’s subsidiary LandMark in East Cairo, one source said

Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to ADNIC

QSE edges higher on buying interests in consumer goods, banking and transport

The foreign institutions were seen increasingly into net selling in the main bourse, which saw no trading of sovereign bonds.

QIC crowned Best Travel Insurance Company in Middle East

QIC has proudly been the preferred insurer in Qatar and beyond since 1964.

QSE index begins trading in green zone

During the session, all sectors witnessed an increase

SAB partners with Saudi EXIM and Kafalah to boost SME exports

This collaboration will expand financing opportunities for small and medium-scale enterprises across various sectors, fostering an environment that will enable their international product exportation.

Qalaa Holdings signs debt settlement agreement with four banks

Banque Misr, Banque Du Caire, Arab African International Bank, Al Ahli Bank of Kuwait, and Debt Restructuring Agreement with Arab International Bank

Banks, companies contribute EGP 68.85bn to mortgage finance initiative for low-income individuals in Q1 2024

This contribution accounts for 96.5% of the entire initiative.

Saudi Arabia’s point-of-sale transactions grew 20% to reach $14.33bn in February

The rise in POS payments mirrors the Kingdom’s drive toward digital transformation and its investments in a technology-centric future.

Saudi banks’ foreign assets surge by 22%, reflecting robust international investments

The main difference between the foreign assets of central and commercial banks lies in their purpose and role within the financial system.

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