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

Dubai Islamic Bank Board Recommends Buying Local Competitor

The deal would create a lender with about 278 billion dirhams ($76 billion) in assets.

Shuaa Capital nears merger with Abu Dhabi's ADFG

Shuaa chairman resigns from the board to take on the group chief executive position in the combined entity

ABX wins approval for crypto asset exchange and custodian

Hirander Misra, chairman and CEO at GMEX Group and vice chairman at Arabian Bourse, believes that the partnership will bring proven market expertise and technology, with a deep understanding of the exchange landscape in the Middle East.

Qatar Imposes Additional Restrictions on UAE's Largest Bank

In a statement on Sunday, QFC said the new bar was "because FAB continues to fail to satisfy the Regulatory Authority of its fitness and propriety in respect of its conduct in the QFC".

Here We Go Again by Gary Dugan

Mario Draghi said that the Council' would use all instruments at its disposal' including a rate cut if necessary.

Emaar signs MoU with China’s BNA

The mixed-use project will be located within the Aero-Economic Area of China’s latest airport

KFH Group achieves leading positions in arranging Sukuk issuances globally and regionally

Value exceeding $5bln

VAT update: recovery procedure in the UAE and 2020 SAF-T confirmed in Norway

Need to catch up on what’s happening in the world of VAT and wider tax updates? Here’s a summary from our global tax team.

Implementation of tax transparency initiative delivering concrete and impressive results

Voluntary disclosure of offshore accounts, financial assets and income in the run-up to full implementation of the AEOI initiative resulted in more than EUR 95 billion in additional revenue for OECD

The Innovators 2019: Cash Management

With creative deployment of technology, banks are competing with tech firms while helping corporate and retail clients manage their cash.

Former Kaupthing Luxembourg CEO Gets ECHR Justification

The four bankers claim that the Supreme Court in Iceland had not been impartial on account of the positions held by family members of one of its judges and that they had not been granted access to all of the prosecutor’s documentation.

Maybank Islamic wants to link up Gulf Cooperation Council with Asean

Last year, MIB announced that it might receive regulatory approvals to set up its Dubai branch in the first half of this year.

The IMF and World Bank — wolves in sheep’s clothing

Although VAT has hardly been a success story, the IMF now promotes personal income tax as well as taxes on businesses and real estate purchases.

UAE Central Bank bites bullet on growth, but better news is to come

Add this to projected growth of 3.7 percent in the oil economy — still the most important motor of the economy despite steady progress toward diversification — and the UAE was looking at a healthy 3.5 percent increase in GDP in 2019.

New economic corridor widens trade possibilities

They view that the force multipliers that inter and intra-regional capital, trade and logistics can bring about are positives for the country's macro economy and the banking sector.

Experts confirm expats in UAE ripped off by unscrupulous IFAs

Mis-selling is a major weapon for these 21st century bandits, with a huge number of expats losing most if not all of their life savings due to their activities.

UAE's VAT collections exceeds expectations by a wide margin in 2018

$7.35bln paid in 2018, surpassing government target of $3.26bln; revenue seen growing more this year

Gulf stock investors may go in for profit taking

After Eid break, region’s stock markets might start mirroring global equity sell-off

Kuwait - IMF and World Bank wolves in sheep's clothing over taxes

Although VAT has hardly been a success story, the IMF now promotes personal income tax as well as taxes on businesses and real estate purchases.

Israel Tax Authority handed details on Cayman Islands accounts

The Knesset Finance Committee passed the regulations facilitating transfers of information to and from Israel in January.

Legal, Tax, Regulation & Compliance