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

CBK Governor: GCC central banks seek to enhance liquidity predictability

These economies are also characterized with free internal and external money movement

Switzerland and the UAE removed from EU tax haven lists

Finance ministers in the European Union are expected to take Switzerland and the UAE off its list of tax haven jurisdictions on 10 October

Former Barclays executives set for fraud trial over Qatar rescue

Varley was acquitted when a judge ruled that the evidence against him was insufficient for the case to proceed

Jordan amends conditions to grant nationality to investors

Under the new decision, the term of the zero-interest deposit is reduced to three years instead of five, the Jordan News Agency, Petra, reported.

Abu Dhabi to host UAE-Lebanon Investment Conference on October 7

The delegation is led by Lebanese Prime Minister Saad Hariri and includes six ministers

The DFSA authorises its 500th financial firm

Kotak Mahindra Bank’s DIFC branch is its first overseas branch.

DFSA Action Concerning Chairman and SEO Referred to Financial Markets Tribunal

DFSA decided to take enforcement action against Dr Sheikh for breaches of DFSA legislation

UAE Economic Substance Regulations: Five Things You Need To Know

The only current exception to these requirements is for companies that are at least 51% owned directly or indirectly by UAE federal or Emirate-level governmental authorities.

Dubai rolls out virtual business licences for global investors

Under the new arrangement, investors can obtain a virtual commercial license from anywhere in the world, including opening bank accounts and securing e-residencies.

Andersen Global Continues to Expand Throughout Middle East

Jordan-Based Zalloum & Laswi to Become Andersen Tax & Legal

Uae banks federation meets with the U.S. Treasury Department's Office of Foreign Assets Control to reinforce financial and banking relations

Senior compliance bankers of UAE Banks and high-level OFAC and U.S. delegates attended a meeting to discuss key financial topics and ongoing developments in the banking sector

Saudi regulator grants fintech experimental permit for equity crowdfunding platform

Permit will enable Emkan to experiment crowdfunding in a fintech medium, at which investors can finance SMEs

Oman’s central bank issues treasury bills

The treasury bills are for a maturity period of 28 days, from October 2, 2019, until October 30, 2019.

Sanad Aerotech signs $114.89m financing deal with Masreq

We are pleased to partner with Mashreq Bank and this successful transaction underscores the confidence that the banking community has in our business.

Bahrain ranks among top most improved economies

Bahrain implemented a comprehensive reform programme, making it easier to do business in nine of the 10 areas included in the ease of doing business ranking (all but starting a business)

Banks apply limited interest cuts after CBE slashes basic rates

The National Bank of Egypt decided last Thursday to keep interest rates on fixed-rate saving certificates unchanged, to remain at 14% for three-month certificates and 14.25% for quarterly return certificates.

MoneyGram Teams Up With Agricultural Bank to Expand in Egypt

This partnership will lead to increased remittance transactions for MoneyGram leading to overall revenue growth.

Fitch affirms National Bank of Kuwait at 'AA-'; outlook stable

The Stable Outlook on NBK's Long-Term IDR reflects that on the Kuwaiti sovereign rating.

QNB Group receives regulatory nod for Hong Kong branch

The bank, along with its subsidiaries, has operations in over 31 countries across three continents. Its staff headcount is over 30,000.

KIB leads Kuwait’s financial transformation

After years of sluggish growth, Kuwait’s banking sector is finally booming and its financial institutions are capitalising.

Legal, Tax, Regulation & Compliance