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

Never share bank details over the phone, cops in UAE warn

The police said fraudsters send such messages, usually via SMS or WhatsApp, to dupe bank customers into sharing their personal data.

UAE Central Bank fines 2 exchange houses for violating rules

The Central Bank has taken a number of initiative in the last few months about money laundering and fighting terror financing.

Firm hired to audit Lebanon central bank has not received all requested info - sources

The central bank said this month that it had provided "all the documents and information which Lebanese laws allow."

Dentons advises Commercial Bank of Dubai on its issue of Additional Tier 1 capital securities

Dentons also regularly advises CBD on its annual EMTN programme updates and the issuance of notes under the programme

Kuwait cuts some rates to ease currency and virus pressures

Kuwait, which pegs the dinar to a basket of currencies dominated by the US dollar, cut to 1.5% and was the only Gulf country that matched the Fed’s unexpected decrease of a full percentage point.

Central bank digital currencies on track for financial systems

But the US central bank is an active participant in research - while conducting its own - into the prospect in partnership with other central banks and the Bank for International Settlements (BIS).

A framework agreement of cooperation between IsDB and Standard Chartered Bank

The COVID pandemic has disrupted international financial channels and put pressure on hard currency inflows to Emerging Markets

CBUAE imposes administrative sanctions on two exchange houses operating in the UAE

The CBUAE took the exchange houses' poor compliance histories into account

CBO issues treasury bills worth OMR29 million

The average accepted price reached 99.723 for every OMR100 while the minimum accepted price arrived at 99.550 per OMR100.

Major overhaul of UAE financial services regulatory framework announced

The CBUAE is also now responsible for protecting the rights of the insured and monitoring the financial solvency of insurance companies.

UAE merges Insurance Authority with Central Bank

The UAE government announced yesterday it has merged the Insurance Authority (IA) with the Gulf state's central bank.

Arab world’s lone growth outpost lures debt investors back

Egypt’s finance minister Mohamed Maait points to economy’s relatively strong performance despite pandemic

Banque du Caire obtains CBE license for POS

Fayed noted that this move comes in line with the bank’s expansion strategy that relies on new digital channels

Jersey's BIT with the UAE and reflections on investment treaty practice in non-sovereign autonomous regions

Jersey is set to sign its first BIT with the UAE later this year.

First batch of Qatari real estate brokers obtain licence

Al-Suwaidi said that the batch received the licence after completing the regulatory procedures specified in accordance with the provisions of the law.

UAE merges insurance authority with central bank - Dubai ruler tweet

The decision also transfers all operational and executive powers of the Securities and Commodities Authority to the local stock markets

Sarwa Capital, Amer Group to issue sukuk before year-end

Amer Group signed consumer- and structured-finance player Sarwa Capital and Misr Capital Investments, Banque Misr’s investment arm, as advisors on the corporate Sukuk issuance in July.

Turkey holds rates in a surprise decision

The decision to leave the rate unchanged sent the lira down more than 2% to near 8 versus the dollar and prompted economists to question the central bank’s commitment to lowering inflation.

Saudi Arabia Partners With the World Bank to Ensure No Nation Is Left Behind on AI

The partnership will support target nations to identify gaps in their own readiness and ability to utilize AI and data and develop their own AI policies for innovation and acceleration of AI based on sustainable development goals.

Lebanon follows McKinsey advice and legalises cannabis farming

The parliament has legalised cannabis farming for medicinal and industrial use, with the specific objective of exporting the crop to foreign markets.

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