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

Tunisia cbank allows resident firms to borrow from abroad in foreign currencies

No. of firms applying for listing quadruples in March-May

Oman to set up an investment authority to manage government assets - state TV

The investment authority will also replace sovereign wealth funds in the country's official documents

First Abu Dhabi to redeem $750 mln in perpetual bonds -filing

FAB is committed to maintaining an efficient capital structure and as such will continue to evaluate its capital position, taking into consideration prevailing market conditions

Lebanon removes banking secrecy rules to fight corruption

The approval of the law came two months after the Cabinet approved a draft resolution to abolish the country’s banking secrecy laws

Saudi banks face tough few quarters but are well capitalised, say CEOs

Central bank data shows Saudi banks’ profit declined by an annual 38.4% in April to 2.9 billion riyals

UAE Government's TRA responds to 77,000 cyber-attacks in April

Monthly report reveals team also dealt with 285 cyber incidents last month

Region’s first Regtech event hosted by the Dubai Financial Services Authority and Dubai International Financial Centre

The event focused on thought leadership surrounding the world’s most advanced and innovative regulatory compliance technologies.

Forum discusses tax cooperation among BRI’s member countries

The Forum met on Wednesday via videoconferencing technology bringing together 178 participants from 38 countries and organisations from around the world.

Pepperstone Secures Lucrative DFSA License in Dubai

A team headed by Tarik Chebib has been organizing the effort on behalf of the Melbourne-based firm.

Authorities “may be sowing seeds of Turkish economy’s downfall” by pumping money at fastest rate for more than decade

Prior to the impact of the coronavirus (COVID-19) pandemic, Turkey’s policy makers, urged on by the Erdogan administration, were already cranking up flows of credit into the economy

Dubai's DIFC firms to benefit from group healthcare scheme

Dubai-based EC3 Brokers will facilitate the purchase of cost-effective health insurance for DIFC registered companies.

Bank ABC in founding partnership deal with Bahrain Fintech Bay

This partnership builds on Bank ABC’s commitment to lead the fintech revolution in the Mena region and support local efforts to attract fintechs and entrepreneurs to establish a footing in Bahrain and tap into the vast potential for innovative finan

Qatar capital market seen needing short-term, good quality Shariah products

Qatari bonds are of interest to a wide variety of investors, including global money market funds, and international banks seeking US dollar-backed exposure.

Saudi wealth fund suspends plans to change $10 bln loan terms - sources

Banks continue to court the PIF, but a proposal made earlier this year to delay the repayment of a $10 billion bridge loan raised in October was questioned by some of the lenders.

Saudi central bank injects SR50bn to support liquidity of banking system

Dr. Ahmed Alkholifey, governor of SAMA, told Al-Arabiya that the funds will come in the form of one-year no-interest deposits in all Saudi banks.

Emirate of Sharjah hires banks for sukuk that could go up to $1 billion

Benchmark bonds are generally meant to be over $500 million, but a source close to the deal said the transaction could range between $750 million and $1 billion.

Banque Syz expands into Turkey

Banque Syz has four offices in Switzerland and two other representative offices abroad, in South Africa and the United States of America.

UAE Central Bank issues financial reporting guidance to calculate Covid-19 credit losses

The regulator proposed ‘practical solutions’ to manage economic uncertainty while complying with IFRS 9

Saudi Arabia's central bank injects 50bn riyals to boost liquidity of financial sector

The move is part of the central bank's efforts to support the kingdom's financial institutions

Investor confidence rebounds as trade licences rise in May

The total number of licences issued in the UAE in May reached 648,684.

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