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

UAE bank warns customers: Don’t be tricked by magic pen

Bank issues a notice to its customers to be aware of magic pen and other banking frauds

Win for Dubai Bank as land firm’s appeal dismissed

Appellate judges Alnashir Visram, Gatembu Kairu and Agnes Murgor said they were in agreement with the High Court’s decision that Kwanza Estates Ltd’s request for the judgment was not only premature but irregular.

Solidarity Bahrain has no plans to shut any branch

The firm has six branches spread across the country and has noted an increase in foot traffic with all outlets performing very well

The IFSB database disseminates data for Islamic Banking systems in member countries, including Libya for the first time

This 13th dissemination completes the availability of quarterly data from Q4 of 2013 to Q1 of 2019, and is part of the IFSB's Prudential and Structural Islamic Financial Indicators project

Emirates NBD determined on UAE Paralympic success

Bank signs 2-year partnership with National Paralympic Committee, including 2020 Paralympics in Tokyo

Dubai bank worker jailed and ordered to pay Dh1.6 million over fraud

The assistant manager forged a cheque valued at more than Dh600,000

UAE monetary base up to AED386.3 bn in August

Current account balances reached AED18.3 bn in August, with reserve requirements growing from AED125.4 bn in July to AED127.6 bn in August.

RPT-UAE central bank cuts rates by 25 basis points

The central bank also said the repo rate for borrowing short-term liquidity had been cut by 25 bps.

Saudi and UAE cut key rates following Fed, Kuwait stands pat

Saudi central bank officials had said earlier this week that lower interest rates would help the country's banks because it would boost lending.

Lebanon central bank agrees to liquidation request from sanctions-hit bank

The value of the bank's assets, and its share of the national deposit guarantee body, are in principle enough to pay all deposits and commitments

Merkel urges return to Iran nuclear deal to defuse Middle East tensions

In recent days tensions in the region rose and Germany will always be in favor of deescalation and long-term solutions are only possible through a political process.

Safe Haven ETFs to Grab Amid Middle East Tensions

Other precious metals like silver rose 3% and platinum inched up 0.7%.

Bahrain mandates banks for dual-tranche transaction - document

The dual-tranche transaction, subject to market conditions, is for a seven-year Islamic bond and a 12-year bond.

KAMCO shareholders approve draft merger contract and capital increase in shares allocated to Global shareholders

As set out in the Amalgamation agreement between KAMCO and Global, KAMCO shall be the merging company and Global the merged

Kuwait hosts economic policy makers

The first session will also address geopolitical challenges, trade disputes, oil price fluctuation, currency exchange and effects of financial technologies; in addition to addressing expectations, tools available for facing future challenges and impact of

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