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

Former Lebanon economy chief in plea for $25bn bailout plan

Rescue package needed ‘to restore confidence’ and kick-start major banking reforms

PwC dragged into bitter Middle East legal battle between an entrepreneur and a sovereign wealth fund

It also claimed Azima, who runs a cargo airline with customers including the US Navy, orchestrated a 'campaign of denigration' against Saud bin Saqr Al Qasimi, the ruler of Ras Al Khaimah.

Lebanon PM signs 2020 state budget with $700m spending cuts

The plan, approved by Berri today, provides between three and 100-day deadlines to carry out the policy proposals, forecasting a six per cent deficit, plans a $700 million reduction in spending, and intends to maintain public services.

Lebanon Banks Tighten Withdrawal Caps, Sparking Outcry

Withdrawal limits differ from bank to bank, but have so far generally been capped at around $1,000 a month, while most transfers abroad have been halted.

DAE signs deal for $300m financing facility with ENBD

Five-year unsecured financing can be raised to $600m

Capital markets in UAE set for listings boost

A draft law in the United Arab Emirates will see more family-run corporates listing, while pension reforms will create a huge pool of investable assets.

Citigroup Suspends Trader for Stealing Cafeteria Food

Junk-bond trader Paras Shah allegedly took food repeatedly from office cafeteria without paying

Qatar Commercial Bank completes trial on the Marco Polo Platform

Commercial Bank operates in retail and wholesale banking, and makes strategic investments through its associates and subsidiaries.

Is BLOM bank leaving Egypt?

The due diligence of BLOM Egypt requires the approval of the Central Bank of Egypt, which has not been discussed until now.

Regulation of digital securities evolves in the Abu Dhabi Global Market

For the purposes of the guidance, a ‘digital security’ is defined as types of digital assets that possess the features and characteristics of a security.

Saudi Arabia effectively combating money laundering

FATF is an intergovernmental body established in 1989.

City lawyer accused of intimidation campaign on behalf of Gulf clients

Dechert partner denies High Court claim over ‘interrogation’ of emirate’s captive

Saudi regulator fines SABB Takaful for late disclosure

Under market rules and regulations, listed companies must immediately and without delay disclose such events to the market authority and the general public.

HSBC planning withdrawal from Turkey after 30 years: reports

Since then Turkey has continued to be problematic for HSBC, with currency volatility in the Turkish lira and a swathe of loan losses within the subsidiary.

Doha fintech meet to help Qatar move towards becoming a global leader in supporting innovation

It will feature a special panel session on the new wave of regulatory technologies (RegTech) that is currently revolutionising the supervision of financial services and other compliance-focused sectors.

Saudi central bank shrugs off weaker growth forecast as tourism sector heats up

The International Monetary Fund this month cut its economic outlook for the region, citing a downward revision to Saudi Arabia’s own projection

Saudi SAMA launches licenses for non-bank financial institutions -statement

The move to license financial technology companies was aimed at opening financial services to non-banking actors and supporting development of the national economy

French experts expected in Seychelles to examine tax haven blacklist issue, president says

Faure said that a national committee has been established to look at relevant laws as well as the relationship Seychelles has with the European Union and the OECD -- the Organisation for Economic Co-operation and Development.

Egypt- World Bank Group, Partners launch new initiative to expand A2F for MSMEs, drive growth, jobs in MENA

As a result, MSMEs in MENA have among the lowest levels of usage of bank loans in the world, the statement said.

Egypt: African Development Bank approves $22 million to expand leasing financing to corporates and SMEs

The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole

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