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

GITEX 2024: KPMG launches Risk Hub in the UAE in collaboration with Microsoft and IBM

The solution is a powerful combination of KPMG’s expert risk management, powered by IBM’s OpenPages, hosted on Microsoft Azure.

Saudi banks reach highest-ever levels of credit

Saudi Central Bank (SAMA) shows growth rate of 12.1%

IMF warns Turkiye of risks to gradual approach to inflation fight

“The authorities’ gradual approach to fighting inflation prolongs the period during which risks might occur”

DIFC Courts launches new suite of digital services at GITEX Global 2024, including Digital Assets Will

Digital Assets Will launched using a non-custodial wallet and built on Hedera Distributed Ledger Technology (DLT)

From November 15, UAE's exporters will get VAT-related savings from new incentive

From November 15, exporters no longer need to get exit certificates to reclaim VAT costs

Updates to Saudi Arabia's Personal Data Protection Regulations: SCCs, Guidelines and More

In addition, SDAIA issued standard contractual clauses for personal data transfers outside of the Kingdom.

EBRD joins ING Türkiye’s first Basel III compliant Tier II bond issuance

EBRD committed to bolstering financial sector in Türkiye

Eversheds Sutherland advises on three major solar PV IPP projects with a capacity of 5.5GW in Saudi Arabia

The Power Purchase Agreements (PPAs) were signed by a consortium comprising of ACWA Power, PIF subsidiary Badeel and Saudi Aramco Power Company.

Hong Kong Monetary Authority and Qatar Central Bank strengthen financial cooperation

The HKMA looks forward to working closely with the QCB to foster connectivity

Bank transactions on hold for thousands of Kuwaitis

Dealings frozen over failure to meet mandatory biometric fingerprinting deadline

Kuwait suspends electronic banking for 60K with biometrics unregistered

The number of individuals visiting fingerprinting centers has significantly increased, with an average of 6,000 Kuwaitis per day, compared to the previously reported 600 daily.

Opportunities for Asset Managers Looking to Set up in the United Arab Emirates

The UAE is an increasingly common jurisdiction for global asset management businesses seeking to capitalize on the benefits of the Gulf region.

Abu Dhabi, Dubai CDS drop; reflects fiscal resilience, says CBUAE

These developments reflect a robust economic landscape in the UAE, characterised by a solid banking sector and increasing investor confidence

Total reserves of Turkish central bank hit new record high

The bank's gold reserves surged slightly from $61.4 billion to $62.3 billion in the same period, according to the bank's weekly report on banking and money statistics.

National Bank of Egypt reports $2.59bln in pre-tax profits for 2023

According to the financial statements, the bank’s total assets reached $107bln in December 2023

NBK-Egypt signs cooperation protocol to provide equipment for Baheya Hospital new branch in Sheikh Zayed

As part of the Group’s dedication to fostering its leading role in social responsibility

Turkey’s central bank raises reserve ratios

Move follows sixth consecutive decision to hold rates

Turkey holds key interest rate again

Move comes as inflation, though falling, remains above 50%

Tough anti-money laundering frameworks require public-private alliances

Strictest regulatory framework in tandem with private sector partnerships are the cure.

Gulf central banks join Fed in cutting interest rates

The UAE regulator reduced its base rate for the overnight deposit facility by 50 basis points

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