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

Kuwait’s draft law on expat quotas to exempt domestic workers, those on government contracts

Under the new proposal, Indians must not exceed 15 per cent of the population of Kuwaitis

HSBC arranges first green export credit agency loan for Saudi ministry

The proceeds of the loan are being used to purchase buses from Germany for the kingdom’s public transport network

DFSA alerts institutions to increased risk of cyberattacks

The DFSA has observed an increase in attacks leveraging known and new malware and a soaring number of newly registered malicious domains referencing COVID-19 since March.

UAE residents warned against divulging bank details, personal information to random callers

Fraudsters continue to be on the prowl to steal data, money

Kuwait Investment Authority goes legal against former officials

Files claims against London office employees for indulging in salary hikes, bonuses

IMF may give Lebanon a smaller funding relief than it actually needs

Reluctance comes as financially strapped nation just can't seem to come up with solutions

Moody’s affirms Barwa Bank’s credit rating at ‘A2/Prime-1’ with ‘stable’ outlook

This rating encourages us to continue our expansion plans that meet the aspirations of our customers and shareholders and promote the Group’s position locally and regionally.

World’s Best Sub-Custodian Banks 2020

Subcustodians make cross-border securities investing possible

Appeals court increases fine on four banks, three officials in money laundering case

The Iranian men and the four Iranian state-owned banks – Future Bank, Bank Saderat, Bank Melli and Bank Saderat, Doha – are all facing charges in five money laundering cases worth billions of dollars in a Bahrain-based bank .

Fraudster David Haigh told he faces jail if he fails to provide financial details to a UK court

A judge has given the former executive of Bahrain’s GFH Financial Group two weeks to provide the documents

Oman picks FAB and Bank Muscat to arrange $2bln loan - sources

The one-year loan would subsequently be repaid with money raised from an international bond

Lebanon central bank governor inflated assets as liabilities grew, says audit

Most central banks record seigniorage, usually defined as a profit made from printing money, as an income stream.

Dubai-China FinTech agreement brings new opportunities for DIFC

Dubai-Chengdu bridge to benefit FinTech firms in both jurisdictions

Regulations in digital assets bring more confidence to investors in Gulf countries

Regulators are creating an environment where investors and customers feel safe to dabble in a secure manner, KARM Founder says

SICO to offer sukuk-based Murabaha service

The unique service allows participating financial institutions to offer Sharia’a-compliant Murabaha service through an efficient process, and hence contributing to promoting the Kingdom of Bahrain as a hub for Sharia-compliant transactions.

Emirates NBD completes customer migration to Smart Pass

Strong two-factor authentication for safer digital transactions

Kuwait sovereign wealth fund fights court battle with fired executives

London arm of KIA alleges top managers conspired to award unlawful pay rises

Abu Dhabi's NMC Health seeks another $250m in bank funds

UAE and international banks already have an exposure of $6b plus in hospital operator

Al Salam Bank becomes first bank in Bahrain to complete customer handover of Deerat al Oyoun Villa under Mazaya Scheme

Al Salam Bank customers can now purchase their dream family home under the Mazaya Social Housing scheme with no down payment or administrative fees.

Region's first: Dubai's DIFC-based GRIP to raise $10mln via digital securities

The issuance is the first major globally compliant digital securities offering in MEASA

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