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

Oman suspends flights from UK, reduces staff capacity at offices

The sultanate also prohibited the entry of passengers who departed from or transited through the UK in the past 14 days

UAE economy to witness full recovery by 2022

Financial soundness indicators remain healthy, boding well for future performance

KPMG Report: Despite pandemic, Saudi banks have thrived

The Saudi Central Bank came out proactively with the stimulus programme to support borrowers and simultaneously helped banks to accelerate their digital journey for ensuring continuation of all banking services without physical interaction with customers.

Bahrain sees 140% rise in government health contracts

While overall value of tenders dropped 14%, Ministry of Health spending soared in fight against COVID-19

Next generation retail and private banking

But also an important factor is the need to respond to the rising threat and competition of fintech companies, says Samih Abutaleb, group head of digital transformation at AUB in Bahrain.

Harnessing the power of data and analytics to reimagine customer engagement

Data has evolved dramatically in recent years in type, volume, and velocity which led to new ways of collecting and storing this data.

Rising demand for wealth management services among Middle Eastern women

Founded in Singapore in 2016, StashAway has clients in 145 countries and has so far raised $36.4 million in four funding rounds

After a Down Year, Dubai Sees Few Luxury Building Launches in Coming Months

The desert city pins hope on 2021 to be a better year for the real estate industry

UAE gross bank assets up to $863.6bln by end of January

Gross credit in the banking system grew in January 2021

GCC holds a positive outlook on the future of work - PwC Middle East survey

COVID-19 has accelerated digital upskilling and the growing impact of technology on workforce in the GCC

Saudi banks thriving on back of govt reforms: KPMG

The KPMG report answers to post-pandemic era questions, reflecting on lessons learned in the field of operational resilience, digital transformation and internal control.

KPMG shares best practices for navigating financial distress

In particular family businesses and small and mid-sized businesses are said to be facing the brunt.

Succession planning in the Middle East

Most HNW families want to set up structures in jurisdictions with an excellent reputation and compliance framework.

Will Gulf banks suffer from ‘long-COVID?’

The regional real estate sector is likely to remain subdued with Dubai’s supply overhang preventing any short to medium term recovery.

Slow Gulf economic recovery to have long-lasting impact on banks - S&P

These factor swill weigh on bank's asset quality with non-performing loans expected to increase, as well as on profitability, with some banks expected to post losses in 2021.

Summit discusses development of ‘Open Banking’ in Middle East

Banks have to comply with an 'individual’ request / consent to share their bank account details.

Moody’s upgrades Beema rating to 'A3' with sable outlook

The changes in the investment portfolio have also alleviated previous pressures on capital adequacy and liquidity.

UAE’s economy shows remarkable ability to overcome virus impact

In its report on the UAE’s sovereign credit profile, Moody’s pointed out that the country’s credit strength is supported by a high GDP per capita, as well as by its internal stability and strong and broad international relations.

UAE: The sky is the limit for gender reform

The reforms were championed by the UAE’s Federal Competitiveness and Statistics Authority in collaboration with the Gender Balance Council, Ministry of Justice, Ministry of Human Resources and Emiratization, and Ministry of Community Development.

Less than 10% of ME companies have mastered enterprise risk

Through last year, the firm surveyed 150 businesses of various sizes, industries and nationalities in the Middle East – to gauge the region's risk management maturity.

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