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

Mohammed bin Rashid enacts amendments to DIFC’s Common Reporting Standard Law

Updated Law enhances the Centre’s transparency

Gulf International Bank signs partnership with Alnahda

Specifically, in support of their leadership of the Women 20 (W20), one of the official G20 Engagement Groups, focused on closing the global gender gap and women's empowerment

UAE's first ETF tracking Sharia-compliant index lists on UAE markets

The Chimera S&P UAE Sharia ETF will have two different share classes that will track a Sharia-compliant index compiled from stocks listed in Abu Dhabi and Dubai

UAE Fintech NymCard Granted In-Principle Approval to Hold, Transfer Customer Funds, while Issuing Payment Cards

As first reported by MENAbytes, NymCard says it’s the first firm to have been given in-principle approval in 2020 by the FSRA.

Saudi Arabia Launches a New Event Focused on Tech

Backed by a multitude of government organisations, LEAP will serve as a catalyst for monumental digital transformation across every sector of Saudi industry and business.

How the world reacted to UAE, Israel normalising diplomatic ties

Nations, groups and individual stakeholders in Israeli-Palestine conflict react to UAE and Israel normalising relations.

Bahrain Seen Needing More Gulf Aid as It’s Downgraded by Fitch

Lower oil prices and the global coronavirus pandemic have combined to stretch its finances.

Bahrain to set up committee to counter money laundering and terrorism

The new body will report to the country’s cabinet

UAE lenders banking on gradual recovery

Financial institutions' performance to largely depend on economic rebound

Dubai ruler issues decrees to restructure boards of Investment Corporation of Dubai and Meydan City Corporation

Under the decree, Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum is now chairman of the corporation's board

Turkey’s Central Bank Is in a Bind Forward of Charges Day: Eco Week

All this in all probability interprets into the central bank holding charges when it meets on Thursday.

Global Anti-Money-Laundering Fine Amounts Released

For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.

UAE, Israel agree on historic deal to establish diplomatic ties

US President Donald Trump said the deal will facilitate peace in the Mideast

Oman secures $2bln bridge loan - sources

The loan, which will be repaid with money raised from an international bond issuance, will bolster state coffers hit by low oil prices and the economic downturn caused by the coronavirus crisis

IMF Grants Egypt $5.2 Billion Loan

Egypt’s central bank recently announced that net international reserves reached $38.31 billion at the end of July.

Samba Financial Group Chooses Dubai International Financial Centre for International Operations

The DIFC’s robust legal and regulatory framework, alongside its highly developed and comprehensive financial ecosystem, continues to be a catalyst for growth in regional banking.

Private firms told to cut Saudi staff enjoying compensation

Government had earlier announced financial compensation under SANED in the wake of the measures taken to mitigate the economic impact of pandemic

Lira rebounds after Turkey ditches cheap bank funding

The central bank halved the amount in an earlier move.

Kuwait: Parliament to Discuss 7 Bills Aiming at Reducing Expat Population

The committee rapporteur, MP Osama Al-Shaheen, said that the Ministry of Social Affairs presented short and long term solutions, revealing the ministry laid down a plan to terminate the services of 360,000 expatriate workers.

Turkey turns to BCG to help boost US economic trade

TAIK has already been working with BCG to find ways to achieve a bilateral trade volume of $100 billion between the two countries.

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