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

Bank Hapoalim to Pay $874 Million to Settle U.S. Tax Charges

As part of the tax-evasion settlement, Bank Hapoalim B.M. admitted the firm conspired with U.S. taxpayers

SAMA values support by Saudi banks amounting to 100 million riyals

The companies have joined the list of others permitted in the 2 previous cohorts, bringing the total number to 30.

QIB’s Gamal warns of profit threat to every bank

Profit pressure is a threat to every bank, says Qatar Islamic Bank’s group CEO Bassel Gamal

Beware of 'phishy' numbers

While economies are dwindling, fraudsters are taking advantage of 'insecure' people

Banque du Liban governor: State spenders must be held accountable

Syria accuses Lebanese parliament speaker of corruption

Saudi G20 Presidency and the Bank for International Settlements Innovation Hub invite global innovators to find solutions to the most pressing financial regulatory & supervisory challenges

The BIS Innovation Hub, through its Singapore Centre, and the Saudi G20 Presidency have published high-priority RegTech/SupTech operational problems and invite private firms to develop innovative technological solutions.

What Asia-Pacific Can Learn From EU’s Open Banking Initiatives

Regulators are determining how to change these standards and where they apply for best results in a way that keeps both FIs, third-party providers and consumers as safe and secure as possible.

Bank closes Jersey branch after £475,000 fine

The company admitted the breaches and, in the judgment, the court said that if the regulations were not followed it would impact on the Island’s reputation as a finance centre.

Coronavirus: Hackers pose as Dubai Police to steal bank details

British businesswoman targeted by fraudster recounts experience

Blockchain could be a solution to supply chain problems

The World Economic Forum rolled out a guide for deploying the technology

Egypt seeks aid from IMF amid virus downturn

PM Mostafa Madbouli says IMF aid package crucial as flights are grounded and tourism halted

Combating coronavirus: Dubai warns of $10mln loan scheme fraud

DFSA had earlier warned consumers about an increase in scams and other fraudulent activity since the onset of Covid-19.

Lebanese banks set rate of pounds per dollar for withdrawals from dollar accounts-sources

According to a central bank circular last week, depositors with dollar accounts in Lebanon will be paid cash in the local currency

HSBC completes first funding under UAE Central Bank's targeted economic support scheme

HSBC has also taken significant steps beyond TESS, putting a focus on actions that ensure flows of essential goods and services into, and through, the UAE continue smoothly despite the disruption to international trade caused by COVID-19

Economic Substance in the UAE - 2020 Update

The OECD then turned its attention to combatting Base Erosion and Profit Shifting (BEPS)

DAC6 – The EU’S Mandatory Disclosure Regime (MDR) and its Impact on the UAE

It provides for the mandatory disclosure by intermediaries, or individual or corporate taxpayers, to the tax authorities of certain cross-border arrangements and structures that could be used to avoid or evade tax and the mandatory automatic exchange of

Legal, Tax, Regulation & Compliance