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

Egypt central bank slashes key interest rates by 200 bps

The bank set the deposit rate at 22% and the lending rate at 23%, bolstering the government's emphasis on economic growth

Will Central Bank of Egypt cut interest rates again amid economic shifts?

Current economic indicators suggest that the CBE may be in a comfortable position to resume monetary easing.

Lebanon agrees bail for ex-central bank chief: judicial officials

He is widely viewed as a key culprit in Lebanon’s economic crash

ADGM launches ‘Real Estate Advertising Permit’ service in collaboration with Madhmoun

The service introduced in line with ADGM’s aim to reduce fake listings

CBE reports uptick in foreign assets and reserves in mid-2025, NFAs hit $10.49B in July

The continued growth in reserves has been underpinned by improved tourism receipts

Turkish central bank’s reserves grow to record $176B as foreign equity inflows continue

Net reserves excluding currency swap transactions.

FTI Consulting deepens Strategy & Transformation capabilities with senior hires

The new senior experts will help the firm meet growing client demand for transformation expertise across both the public and private sectors.

UAE Central Bank suspends licence of insurance company Yas Takaful

Company penalised for 'failure to comply with the regulatory framework governing insurance companies'

UAE Central Bank suspends licence of YAS Takaful over regulatory breaches

Despite the suspension, the company remains legally obligated to fulfill all commitments related to insurance contracts issued prior to this action

Gulf Bank warns of rising fraud attempts during summer and travel seasons

In a Marina FM interview, Gulf Bank reinforced its commitment to the “Diraya” campaign

UAE Central Bank imposes over Dh370 million in fines on banks, exchange firms, and insurers

The penalties resulted from inspections that revealed violations in three areas

Federal Tax Authority organises “Innovation Retreat” on Taxes’ 'Zero Digital Bureaucracy'

In line with second phase of Zero Government Bureaucracy Programme

Kuwait Renews $2 Billion Deposit with Egypt’s Central Bank

The External Position Report offers a comprehensive analysis of Egypt’s balance of payments

Central Bank of Egypt Eases Rules on Credit Card Use Abroad

In a decision announced this week, the CBE canceled a clause from a previous directive issued in October 2023.

Kuwait busts Nigerian-led cybercrime ring targeting telecoms, banks

Specialised teams from the Criminal Security Sector launched an urgent investigation, uncovering a network of suspects who allegedly used advanced electronic devices to breach telecom systems.

Qatar Central Bank foreign reserves rise 3.28% in July

The Bank’s holdings of foreign bonds and treasury bills rose by around QR 57 million to QR 138.754 billion

UAE Central Bank penalizes finance firm Dh600,000 for regulatory violations

Firm failed to comply with Market Conduct, Consumer Protection Regulations and Standards

17% of Jordanian programme completed to boost digital services transformation — WB

The programme is financed through two main components: a $321 million World Bank loan and a $29 million trust fund grant

Egypt’s net international reserves hit record $49.04bn in July: CBE

This marks the highest level of foreign currency reserves ever recorded in Egypt

Saudi central bank submits new banking draft law to legislative authorities

The banking sector was highlighted for its strong capitalization, with a solvency ratio of 19.6% at the end of 2024

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