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

Dubai’s largest bank sees decline in revenue over Coronavirus

The Emirate NBD put aside $697 million for risks in recognition of a potential deterioration in credit quality in subsequent quarters related to the coronavirus pandemic.

Middle Easterners Apply for Citizenship by Investment From Dominica

Last year, the Financial Times' Professional Wealth Management magazine ranked Dominica as having the best CBI programme in the world.

Abu Dhabi 'Executive Regulation of Human Resources Law' released

The regulation lists 14 key provisions including the appointment of graduate interns, part-time work for UAE nationals, overtime compensation, appointment of civil and military retirees, empowering people of determination (persons with disabilities) and s

ITA announcement 22 March 2020 to postpone mandatory dates for submission of 2019 Israel individual income tax returns

Additional extensions are granted on a rolling basis by the Israeli Tax Authorities

Collapse of the banking system could mean the end of Lebanon

Lebanon’s leadership has no understanding of the regional changes taking place, as was the case in the 1970s.

Merged SHUAA Capital entity holds first general meeting virtually

General Meeting approves the Board of Directors' report in respect of the activity and financial position of the Company for the financial year ending 31 December 2019

EY ordered to pay whistleblower $11m in Dubai gold audit case

Court rules accountancy firm breached code of ethics in its dealings with a refiner

Asset buffers and fiscal discipline protect Abu Dhabi from external shocks, says finance head

The government is focused on maintaining a resilient balance sheet through returns on assets and optimising spending, chairman of Department of Finance says

Banks in Bahrain warned against wage funds misuse

CBB warned banks against using the funds tosettle companies’ financial obligations

Islamic Authority and Arab States in a Time of Pandemic

The most pressing goal is to shut down sites of potential contagion as Ramadan approaches.

UAE banking sector resilient because of government support

With adequate measures in place, the UAE Banks Federation is confident that the current crisis will be overcome

Finance minister: Saudi Arabia facing current global crisis from position of strength

He pointed to the country’s huge reserves and relatively low debt obligations as factors that would allow it to withstand the slowdown of the world economy due to the coronavirus pandemic.

Qatar government debt ‘mitigated’ by ‘credible’ currency peg: Moody’s

The national airline, Qatar Airways, which Moody’s expects to post losses as a result of the global coronavirus pandemic, has debt of only around 3% of GDP.

Abu Dhabi Government ties up with banks to expand SME financing

The deal with FAB, ADCB and ADIB will enhance support for smaller business to withstand market fluctuations

UAE banks told not to terminate Emiratis or cut their salaries due to coronavirus

Emiratisation drive in the financial sector postponed.

Insurance brokers in UAE offered capital relief

It will help firms meet their operating expenses during the coronavirus outbreak

Legal challenge seen in rush to cut pay in Kuwait

Central Bank of Kuwait aims to reduce salaries and benefits of top banking officials

UAE advisers split on game changing regulation

With one-in-10 chief executives considering their exit strategy

Arab Africa Trade Bridges Program Outlines Actions to Support Developing Countries Cope with the COVID-19 Crisis

Initiatives focusing on pharmaceuticals and healthcare and other value-added sectors such as agriculture and textiles to take precedence

Turkey’s banking watchdog slashes limits on banks' FX transactions

Those with a maturity of 30 days were reduced to 2% of the banks’ equity.

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