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

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.

Lebanon’s Offshore Governor

Much of his money went to the U.K., a favorite destination for overseas investors looking for a discreet place to make their money grow.

EBRD fosters private businesses in Egypt

The EBRD expects to dedicate the entirety of its activities to combating the economic impact of the crisis and stands ready to provide support worth €21 billion over the 2020-21 period, in order to help the 38 emerging economies where it invests.

Kuwait May Deport 360,000 As Gulf’s Expat Exodus Continues

At the same time, the government is trying to reassure the country’s own citizens they will not suffer from the economic downturn.

Samba Financial gains approval for DIFC branch

The lender gained approval to offer 'selected financial services to professional clients and market counterparties' from the financial free zone

Kuwait's parliament reviews proposals to cut expat numbers

Kuwaiti MP Khalil Al-Saleh, who head the committee panel, said the committee plans to meet with the minister of social affairs, Mariam al-Aqeel.

Union Properties inks debt deal with Emirates NBD

The developer recently unveiled a three-year plan to turn around its fortunes after several years of underperformance and mounting losses

Lebanon's FFA Private Bank teams up with Ankura

With the business scene crumbling, banks are facing rapidly growing non-performing loans and asset risks on their balance sheets.

Saudi G20 Presidency and BIS Innovation Hub update on the progress made in the G20 TechSprint initiative

The G20 TechSprint initiative, launched in April 2020, aims to highlight the potential for technologies to resolve regulatory compliance (regtech) and supervisory (suptech) challenges.

Saudi governor reviews NGOs integration efforts

Prince Faisal called on all stakeholders to take advantage of the initiatives introduced by the council to achieve their objectives to serve national interests.

Saudi anti-graft watchdog probes 218 cases

Businessmen, Shura Council member, ex-judge, notary officer, ex-police director arrested

Italian FinTech partners with Abu Dhabi company on scheme to offer loans

Agreement between Supply@ME and iMass investments will trial an inventory monetisation programme with Abu Dhabi-based manufacturers and lenders

UAE central bank temporarily relaxes rules on liquidity, funding for banks

Banks will be allowed to go below the 100% 'net stable funding ratio' but not below 90%

Philippines open to Qatar investments in digital banking, says central bank official

In light of the progress the Philippines has made in Islamic banking, she stressed that offering a Shariah-compliant digital solution to the market 'will be very attractive.

Saudi Arabia approves policy on Artificial Intelligence, expects SR500b windfall by 2030

A government entity plans to go all out on cloud computing

GCC states to spur sukuk's rally to $170B in H2

Global issuances, however, expected to dip 5% in 2020 on effects of Covid-19 pandemic

New Abu Dhabi body formed to foster public-private links

Economic collaboration committee will focus on sectors including real estate, banking, retail, hospitality and manufacturing

Central Bank of the Philippines open to Qatar-based funding

This comes as part of the nation’s strategic planning to conduct at least 30% of all transactions via online or digital platforms.

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