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

Financial Weather: Top UAE in banks resilient despite fall in profit

For UAE banks, the drop was mainly attributable to higher-than-expected credit losses on loans and advances

Qatar intends to repay $20bn in debt by 2021, says Fitch

The rating agency estimates that sovereign net foreign assets (reserves plus other government assets less external debt) were about $240bn (130% of GDP) in 2019.

Study: Europe oil majors fall short of UN climate goals

No company would meet the UN-backed Paris Agreement’s goal of limiting global warming to “well below” 2 degrees Celsius above pre-industrial levels by cutting emissions to net zero.

UAE bank results for Q3 to come under pressure from bad loans, low margins

Anemic loan growth and low interest rates seen squeezing profits

UAE Top 10 Banks See Profits Drop by 38.9 Percent in H1'20, KPMG Report Finds

It shares information on trends in the GCC on credit loss provisions reported by banks and a summary of significant regulatory support provided in each GCC country.

Top tips for effective remote meetings

The anticipated shift is not limited to the balance of roles, but will also impact how salespeople across various roles interact with advisors.

Majority of UAE bank customers will switch banks for better offers

Boston Research finds 87% are likely to open accounts in digital-only banks

Why the rich and the famous invest in the UAE

Nation among top 10 that witnessed highest inflows of millionaires last year, also becomes wealthiest country in region

Qatar Centre for Global Banking and Finance at King’s College London launches new executive education programme for QCB

The centre was formed following a “generous” donation from the QCB with the aim of developing cutting-edge research and research-led education to address the challenges faced by central banks around the world.

GCC Islamic asset managers stay resilient

According to the Global Islamic Finance Markets Report, Shariah-compliant assets represent a significant portion of total banking assets of the GCC.

Qatar expected to retire debt using accumulated contingency reserve funds, says Moody’s

The increase in government debt during 2018-19, prior to the coronavirus shock, Moody’s noted “was exclusively due to the government’s decision to borrow in excess of its budget financing needs.”

Deep Dive: Why The Pandemic Is Pushing MENA Regulators To Upgrade Open Banking, Privacy Laws

The Dubai International Financial Centre ratified the original version of its Data Protection Law (DPL) in 2007, for example — about a year earlier than Europe’s official General Data Protection Regulation (GDPR) and first Payment Services Dir

Bringing the money back home

Safeya Mounir looks into the cause of higher-than-expected remittances from Egyptian expatriates abroad

UAE still among most preferred destinations for ultra-wealthy

But there could be exodus of millionaires in short term due to COVID-19, says New World Wealth

UAE banks target Lebanese peers' units in growing Egyptian market for M&A

The banking sector is seen as having sizeable potential, with a vast unbanked population

UAE consumers expect a cashless society by 2030

Almost two-thirds of people in the UAE (64% in the UAE and 64% globally) expect the country to go fully cashless

Fintech Professional Claims that Digitization of the UAE Economy is Being Led by Individual Consumers, Not Service Providers

As reported by Gulf News, Iyer also mentioned that the UAE’s modern infrastructure has created the ideal environment for launching a digital banking platform.

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