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

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.

Banks Legal on COVID-19 and leases in the UAE

Banks Legal senior associate, Anshul Kalra, looks at some of the key issues facing tenants and landlords in the current economic and legal environment

UAE Central Bank unveils more measures to shore up banks

The CBUAE has also clarified that for the purposes of calculating NSFR and ASRR, the CBUAE Zero Cost Funding Facility under the TESS programme should be treated as stable funding with a 50 per cent weight, irrespective of its maturity.

Qatar ADR: scope to resolve construction claims

Often claims on construction projects arise because of the changes to the original scope of work, known as variations.

Porto Group signs joint, several guarantees with Banque Misr

Porto Group (PORT) will provide a joint and several guarantees to Banque Misr

Lebanon Central Bank tells banks to give loans to those affected by Beirut explosion

Lebanon has been shattered by the tragic blast that erupted out of Beirut's port area killing at least 135 people and wounding thousands

Turkey’s tumbling lira tests Erdogan’s rate resolve

Investors, analysts and sources close to Turkey’s central bank say that the most direct solution to the lira’s costly slide, in the form of a rate hike, would only happen as a last resort.

UAE: 665,246 Business Licences Issued in July

The register’s data showed that over 81 percent of licensed businesses are located in Dubai, Abu Dhabi and Sharjah.

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