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

Oman’s public debt slightly declines to $39bn

This is thanks to continued government measures aimed at rationalizing spending, diversifying revenue sources, and directing additional revenues toward debt repayment.

Fake messages could run your bank accounts ‘dry’

The source warned that unscrupulous individuals are into these fraudulent operations to steal from people; indicating they illegally obtain vital information like the bank account number, password and name of the account holder.

UAE corporate tax: Deadline alert

New corporate tax deadlines for businesses to start in May. Here’s what you need to know

Saudi government assets to remain strong through 2030: S&P Global

S&P Global Ratings expects that growing debt issuance to finance Vision 2030 projects could pressure the sovereign’s fiscal metrics.

DIFC announces consultation for amendments to DIFC law on application of civil and commercial laws

The amendments seek to provide statutory certainty to the source of DIFC Law and how it may be interpreted.

CBUAE maintains the base rate at 5.40%

This decision was taken following the US Federal Reserve’s announcement today to keep the Interest Rate on Reserve Balances (IORB) unchanged

Saudi Central Bank and BIS co-host meeting on reserve management in Riyadh

The event served as a platform for participants to exchange insights

BlackRock signs agreement with Saudi wealth fund to anchor new Riyadh investment platform

The investment team will be a combination of existing BlackRock personnel and new, on-the-ground staff.

Two jailed for laundering cash in suitcases from UK to Dubai

The total amount of criminally acquired cash flown out of London to Dubai was around £104m

HEC Paris in Qatar partners with QCB to launch Central Banking Essentials Program

Developed in partnership with QCB, the program’s objective is to raise the organization-wide baseline understanding of QCB’s purpose and operations across functional and divisional lines.

UAE Labour Law: Six flexible salary payment options for UAE workers

Choose from monthly, weekly, commission-based pay, or more, as long as your employer agree

UAE-Kenya deals: ADQ to establish investment framework

In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year-on-year to $3.1bn

Network International obtains Stored Value Facility licence from UAE Central Bank

The Central Bank of the UAE issued the Stored Value Facilities Regulation in 2020

Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to Abu Dhabi National Insurance Company

The transaction has closed on 17 April 2024 after clearing regulatory approvals.

The Central Bank: Banks & finance companies may defer personal and car loans installments for six months to overcome the repercussions of the weather condition

Rain -Damaged Vehicles & Homes are Covered by Insurance Companies

Legal, Tax, Regulation & Compliance