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

UBF council explores UAE's evolving banking sector

With UAE Banks operating with high capital, the outlook for the sector remains positive and we are confident that it is well-positioned for future growth over the coming year."

UAE the hub of Panama's Middle East strategy, says ambassador

Dubai's non-oil trade with Panama amounted to $42m in 2018

UAE Central Bank foreign currency assets hit $94.82bln in January

The total foreign currency assets held by the Central Bank of the UAE indicated a growth of 6.7%

Saudi Arabia's New Rules Set to Raise Islamic Tax for Some Banks

That’s equivalent to a corridor of between 10 percent and 20 percent of net income, Bloomberg Intelligence analyst Edmond Christou said.

UAE authorities introduce passporting regime for investment funds

Financial regulators in the United Arab Emirates (UAE) have formally introduced new investment fund passporting protocols across the country.

Bahrain issues new cryptoasset rules

The Central Bank of Bahrain (CBB) has published final rules allowing for the regulation and licencing of dealing, advisory, and portfolio management services in accepted crypto-assets and as a cypto-asset exchange.

Saudi insurers face upheaval as regulator mulls capital hike

Draft insurance rules contain proposals to increase minimum capital requirement five-fold, Moody's analyst says

Qatar freezes new business for First Abu Dhabi Bank amid currency probe

Qatar keeps its riyal pegged at a fixed rate to the U.S. dollar, but saw it trade several percent weaker than its usual rate of 3.64 per dollar in offshore markets just after the Gulf dispute began.

Qatar bars FAB from adding clients amid probe

The restriction doesn’t stop the lender, which operates one wholesale banking branch in Doha, from continuing to provide services to existing customers.

Egypt affirms support for the African Development Bank, regional integration agenda

The Bank team also met several other cabinet ministers and the Chairman of the Central Agency for Public Mobilization and Statistics, Khirat Barakat.

Government and businesses to accelerate entrepreneurial growth

The annual summit, now in its sixth year, also celebrated successful entrepreneurs from various verticals and featured some of the region’s most innovative startups like Fetchr, Starz play & Ekar.

CBUAE foreign currency assets hit AED348 bn in January

Government deposits amounted to AED297.6 bn in January, while monetary deposits hit AED415 bn and quasi-monetary deposits stood at AED819 bn.

Abu Dhabi state investor Mubadala halts business with Goldman Sachs amid 1MDB lawsuit

A spokesman for Goldman Sachs declined to comment.

CBQ to power opening round of MERC in Qatar

Al Atya has over 50 rally starts and he has gone on to win many international rallies.

Dubai and Hong Kong to forge strong investment, trade ties

Dubai FDI and HKTDC also agreed to cooperate on trade and economic information sharing; provide support by facilitating network platforms for companies keen to expand business in both markets; and extend support and assistance to visiting delegations seek

Legal, Tax, Regulation & Compliance