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

UAE banks take precautions against coronavirus

Banks, financial institutions in UAE tell their staff to take precautions against COVID-19

National Bank of Bahrain signs a strategic partnership with StartUp Bahrain to empower the startup ecosystem

Through our partnership with StartUp Bahrain, we look forward to stepping into the next wave of innovation and contributing towards the Kingdom’s national efforts to progress as a digital economy.

Egypt to Roll Out New Plastic Currency in 2020

Amer also added that the new currency is cheaper to produce and said that the move will reduce counterfeiting

Bahrain central bank urges banks to ease debt terms, fees due to coronavirus - circular

It also urged the financial institutions to reduce profit and interest rates, fees and commissions

Central Bank of Kuwait cuts discount rate to 2.5 per cent

Saudi Arabia, the UAE and other Gulf states also reduced key interest rates tracking an emergency move by the Fed to soften the impact of the coronavirus outbreak

DFSA signs MoU with IOMFSA

Collaboration is crucial in enabling the DFSA to maintain the integrity, efficiency and financial stability of the Financial Services industry in the Dubai International Financial Centre.

Pilatus banker’s defence: U.S. dollar payments were not meant to breach Iran sanctions

Ali Sadr Hasheminejad trial in New York: defence says prosecution witness who recieved $50,000 from Stratus did not breach sanctions

UAE bank sanctioned

The bank's senior management delayed the release pending the outcome of a legal dispute between the bonds' applicant and beneficiary, urged by its client's legal advisor.

Barclays executives fend off fraud charge

Three senior Barclays bankers have been acquitted of fraud charges relating to emergency funding from Qatar in 2008.

Middle East businesses see biggest rise in customer fraud

The survey examined responses from eight countries in the Middle East, and PwC globally examined responses from 99 countries around the world.

Data and AI to Add More Than USD 10 Billion to Saudi Arabia's Economy

Saudi Data & Artificial Intelligence Authority is driving the country's transformation into a leading data-driven economy

ACC okays charge sheet against ex-AB Bank chair, 7 others

The commission director for public relations Pranab Kumar Bhattacharjee said that the commission’s investigation found that the money was siphoned off to the UAE by two business firms.

Middle East businesses see biggest rise in customer fraud

Middle East businesses reported that customer fraud and procurement fraud are the most disruptive of all economic crimes.

Kuwait registers $12.08bln real estate deals in 2019 – KFH

Number of real estate transactions increased by 6.4% in 2019

UAE central bank cuts interest rates by 50 bps

The UAE central bank said its repo rate for borrowing short-term liquidity had also been cut by 50 bps.

Bahrain central bank cuts key rate by 50 bps

It also cut the overnight deposit rate to 1.5% from 2%

Middle East: Banking in an age of conflict

War and revolution have shaped the Middle East’s recent history and have left their mark on the banking sector.

IMF deal seen as only way out for Lebanon

As Lebanon's financial crisis drags on and government revenues dwindle, the bill to rescue the country is rising.

UBF launches committees to promote growth of the UAE banking sector

The launch of the Fintech Committee and Consumer Protection Committee increases the number of federation’s technical committees to 22.

Middle East shares decline

The UAE's largest lender traded ex-dividend.

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