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

UAE Central Bank to launch new overnight deposit facility

'This new facility will support banks operating in the UAE in proactively managing their day-to-day liquidity'

UAE central bank to launch overnight deposit facility

Conventional banks launching the overnight liquidity of depositor.

Abu Dhabi Islamic Bank raises foreign ownership to 40%

The announcement came after obtaining the necessary regulatory approvals from the Central Bank of the United Arab Emirates, the Securities and Commodities Authority, as well as the bank's shareholders during the Annual General Meeting (AGM) held last

Saudi Arabian Monetary Authority quashes rumors of bank account freezes

Rumors on social media is a punishable crime subject to anti-cyber crime law penalties

Wirecard Probe Expands with Arrest of Head of Dubai-Based Subsidiary

Wirecard filed for insolvency last month owing creditors 4 billion euros ($4.5 billion) after disclosing a 1.9 billion euro hole in its accounts that its auditor EY said was the result of a sophisticated global fraud.

DFSA’s 2020 Summer Innovation Testing Licence Programme accepts largest number of innovative firms to date

Many of these business models are focused on facilitating financial inclusion and literacy by serving low-income migrant workers.

New body speeds up processing of Saudi judicial liquidation

Infath assigns each case to suitable service providers based on the experience of the provider and the nature of the asset.

Dubai witnesses 83% growth in Trader licences issued in first half of 2020

In June, Trader licence issuances surged by 163%

Norton Rose Fulbright forced to quarantine Dubai staff after infection

But while NRF confirmed that one of its Dubai staff did fall ill, it said the individual "did not contract the disease in our offices".

UAE needs to bring in the ‘revenge’ spenders

Unlock pent up demand, and that’s where the recovery process will start from

UAE among most active countries in Middle East in providing economic incentives

The incentives include a monetary expansionary policy and a support plan by the Central Bank of the UAE, as well as incentives presented by the Federal Government to support economic activities, and incentives provided by the local governments of every em

Gulf’s betting big on banking consolidation, and it will pay off

Recent moves in banking sector offer more than a glimpse into what’s likely

Former Barclays CEO John Varley grilled on negotiations with Qatar in High Court

On the first day of Varley's testimony, Staveley’s attorney pressed him on the blue-chip bank’s negotiations with Qatar

Shock move comes as PM warns of ‘financial blockade to starve the people’

Lebanon’s banks will ease restrictions on US dollar withdrawals following a surprise announcement on Thursday by the head of the country’s banking association.

AIB into private hands

Sherine Abdel-Razek reports on the planned purchase of majority stakes in the state-owned Arab Investment Bank

Saudi Arabia: 15% VAT hike comes into effect

VAT increase applicable of all goods and services

Saudi Arabia facilitates corporate money transfer abroad

Saudi Arabia facilitates money transfer abroad

UAE: new consumer and data security law moves closer

The law will enable the fair and prompt settlement of disputes, and help consumers obtain fair compensation.

UAE Central Bank and ADGM invite FinTech firms for an innovation challenge

Successful companies will receive a grant of $20,000 each to develop a proof-of-concept solution to a problem statement

Dubai Startup Hub Market Access programme’s second cohort attracts 44 start-ups

Emirates NBD will collaborate with four start-ups

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