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

BMCE Bank of Africa / BMCE BANK International Plc gets DIFC category4 license

With the prospects of $200mn transactions from year one

Turkish banks delay loan payments to ease the impact of COVID-19

Last week, President Recep Tayyip Erdogan unveiled a TRL 100 billion ($15.2 billion) package of tax cuts, payment deferrals for businesses and pension increases

Saudi Arabia implements urgent measures to mitigate impact of coronavirus on economy

UAE shuts public & private beaches, swimming pools, public parks, fitness centres and cinemas

Closure for 15 days starts from Sunday, March 22

Saudi banks should embrace fintech strategies and collaborate

The swift evolution of fintech has forced traditional banks to face a new reality wherein products, services and business models that have worked in the past are no longer relevant or considered as a viable option in the digital world.

Dubai regulator fines director of failed wealth firm

The DFSA took action against MGL on 6 January 2020 for the above-mentioned contraventions. The detailed reasons for the DFSA’s action against Mr Arora are set out in the DFSA’s Decision Notice dated 10 March 2020 which can be found in the Reg

UAE eases restrictions on internet calls to contain virus

The UAE will permit companies to use Microsoft Teams and Zoom applications that allow virtual conferencing

Corruption And The Coronavirus

How to prevent the abuse of power during a global health pandemic

Metro Bank hit with fresh lawsuit by Iranian customers

Metro Bank has not alleged that any of the claimants were involved in any illegal or illegitimate activities and it has released the restrictions on some accounts during this process

UAE suspends issuing visas on arrival

Measure comes into effect on 19 March as part of the fight against the spread of covid-19

Aion Digital, Qarar team up to boost digital banking in Middle East

Banks across UAE, Bahrain and Kuwait use Aion’s banking platform to offer digital solutions to their customers.

QBA lauds Qatar’s crisis management on Covid-19

The QBA noted that Qatar adopted a wide range of precautionary measures to control the transmission and spread of the epidemic, and set an example for many countries in the world to follow.

UAE Central Bank issues 'Dormant Account Regulation'

Issues regulation to protect customers losing their money held in such accounts

Six-Month Deferral On Instalments

The move also applies to credit cardholders impacted by the outbreak.

Qatar Central Bank lowers interest rates

That had been the first rate cut outside of a regularly scheduled policy meeting since the financial crisis in 2008.

Dubai's DIB shareholders approve increase in foreign ownership limit

Board recommended an increase in the foreign ownership limit of its shares to 40% from 25%

GCC central banks cut interest rates following Fed's shock move

Global markets continued to slide on Monday despite the US Federal Reserve cutting rate to near zero on Sunday evening

MaCeen Capital license suspension ends – Saudi CMA

The suspension was imposed on October 23, 2018

UAE Central Bank cuts interest rates to stem coronavirus impact

Move comes after US Federal Reserve cuts rate to near zero

Liquidity in Saudi banks 'very good', says SAMA governor

Saudi Arabian Monetary Authority Ahmed al-Kholifey has also backed the riyal's peg to the dollar

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