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

Kuwait Finance House postpones AUB deal process until December

The postponement came under the guidance of the regulatory authorities in the two countries

Jurisdictions move towards full implementation of standards for financial market infrastructures

The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to fully implement the PFMI.

Regulatory, stimulus measures to help UAE banks repel virus

The central bank last week doubled the size of its stimulus package

Lebanon Draft Crisis Plan Sees Need for $10 bln-$15 bln and Depositor Contribution

It sets out a restructuring of the central bank and commercial banks to include “a transitory exceptional contribution from large depositors” and outlines a special fund to compensate depositors’ losses resulting from restructuring.

Covid-19 impact on UAE courts and arbitration

Technology has been widely used to mitigate the impact of the global pandemic on the UAE's onshore courts, DIFC Courts, ADGM Courts and arbitration centres

Dentons plays key role in Oman solar project finance deal

This is a landmark project as it is the largest renewables project in Oman and will be the first renewables IPP for AIIB in the region, with a consortium of international and regional banks also participating.

DFSA Takes Measures to Support its Financial Community

The DFSA stands ready to consider any reasonable requests for regulatory relief and DFSA staff are available to answer any questions.

UAE banks increasing aggression towards debtors during Coronavirus crisis

Most people contacting us have taken a loan or credit card in good faith and serviced the loan for years, never missing payments.

Qatar to sell triple-tranche dollar bonds amid low oil prices -sources

The bond sale's success will depend on the pricing, which will determine investor appetite for a deal.

KPMG recommends steps to bolster cybersecurity in the COVID-19 era

Hackers are jumping on the COVID-19 pandemic to exploit global uncertainty

Lebanon speaker Berri to central bank governor: deposits are "sacred"

The parliament speaker discussed the financial and monetary situation, and ways to protect depositors' money, especially the small ones

UAE's $70bn stimulus will help bank liquidity but could increase problem loans, says Moody's

QFB holds AGM to discuss performance, future initiatives

The AGM was held at the QFB Lounge premises in Doha, “adhering to all the precautionary measures to ensure the safety of participants.”

Qatar issues $10bn bonds in international debt markets

The new 2025, 2030 and 2050 bonds launched at a final spread of 300 basis points (bps) and 305 bps, respectively, over the underlying five, and 10-year US Treasury notes, and a final yield of 4.40% on the new 30-year maturity.

Lebanese banks set 2,600 pounds to dollar rate for small accounts

A senior banking source said this rate would be fixed

Lebanon to audit central bank accounts

Lebanon’s coronavirus lockdown has compounded woes in a country with a weakening currency, dwindling reserves, and soaring inflation.

Dubai’s Emaar chairman takes 100% salary cut, assures employees ‘this too shall pass’

A new salary structure will be implemented April 1 onwards, until further notice

Jordan Central Bank Says Too Early to Predict Impact of Coronavirus on GDP

The International Monetary Fund, which last month approved a four-year $1.3 billion program with the kingdom, had expected Jordan’s economy to grow around 2.1% in 2020 but gradually rise in the next few years to 3.3%.

Saudi imposes 24-hour curfew in several cities including Riyadh, Dammam

Entry into and exit from the areas under curfew has been banned until further notice

DFSA Takes Measures to Support its Financial Community

These initiatives are designed to allow the DIFC community to focus on protecting the wellbeing of their staff and supporting their clients during this time of stress and uncertainty.

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