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

Banks in Saudi, emerging markets will see spike in bad loans- S&P

Lenders with exposure to SMEs, retail, real estate to see biggest impact

Legal fraternity in Qatar advocate increased Pro Bono hours to keep businesses afloat

Recently, Qatar International Court and Dispute Resolution Center offered Pro Bono services to spearhead the delivery of swift, fair, and efficient judgments as part of an innovative legal model for commercial and civil dispute resolution.

Egyptian government prepares new economic stimulus package

The government is already providing aid to several of the commercial sectors most affected by the pandemic

Kuwait MP set to grill finance minister over fund corruption

The corruption case involves a Malaysian Fund and a Chinese company

OECD recognises UAE's efforts in fighting coronavirus

The commendation followed an ongoing analysis issued by the organisation about the possible impact of the Covid-19 outbreak on countries

Union Properties subsidiary announces $408.4m legal figh

Company is taking action for construction works completed around ten years ago

Qatar achieves self-sufficiency in essential products; supply chain well diversified: KPMG

Retail malls are facing difficulties as the countermeasures of the pandemic has led to closure of all stores

Remittances from UAE to drop

The World Bank has predicted that, globally, remittances would decline sharply by about 20% in 2020

Emirates NBD transforms property rental with finance program

While landlords can benefit from receiving the entire rental amount for the year upfront offering access to improved cash flows.

We’ll beat this: Crown prince vows Saudi Arabia will overcome virus pandemic

The Kingdom celebrated the first two days of Eid under a 24-hour lockdown to curb the spread of COVID-19, but restrictions will be eased from Thursday, Health Minister Dr. Tawfiq Al-Rabiah said on Monday.

Lebanon's government welcomes banks' input in rescue plan

The government will continue engaging with the association and its advisers to seek solutions to the crisis, it added.

UAE Exchange starts issuing refunds – report

UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March

FAM Properties responds to Damac legal claims

The dispute began when the developer received complaints from clients about e-mails sent to them by FAM Properties

Mashreq provides help to a quarter of its retail clients through Covid-19 scheme

The lender says most requests are for payment holidays on credit cards and personal loans

English High Court rules former Leeds United MD David Haigh rebranded as #FreeLatifa “human rights lawyer“ a “fraudster”

High Court rules to retrieve Haigh’s hotel and farm, bought with embezzled funds.

Lebanese PM: central bank to intervene to protect Lebanese pound

The pound has lost more than half of its value since October.

Doing business in The United Arab Emirates

The population of the UAE has tripled since 2000 to nearly 11 million, 90% of whom are foreign-born workers employed in a wide range of industries.

Emirates NBD and Urban partner to create a financing program

Following the partnership with the bank, Urban tenants can now look forward to paying their rent on a monthly basis in any Urban property through a customised rental loan, thereby enabling them to enjoy payment flexibility and convenience.

Dubai’s ICD faces ‘adjustment’ in wake of pandemic downturn

In addition to Emirates NBD and the Emirates aviation business, the ICD also holds several other assets regarded as the jewels in the crown of the Dubai business scene.

GCC banks consolidation drive to continue in 2020, says KPMG

Credit growth is not expected to pick up significantly from last year given the economic impact of Covid-19 and significant fall in oil prices.

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