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

Iran's central bank issues draft rules on cryptocurrency

Government regulators recognise global cryptocurrencies and licensed trading but prohibit it as payment inside Iran.

Hawkamah and IMF Focus on Emerging Central Bank Governance Trends

Global Best Practice Discussions on Board Oversight, Internal Audit and Financial Risk at the Central Bank Governance Forum 2019

Lulu Group eyes for international market inks deal with Swiss real estate

Hailing from Kerala, Lulu Group's chairman is M.A. Yusuf Ali, who now operates out of the UAE.

Qatar National Bank hires arrangers for U.S. dollar bond: sources

A group of banks including Barclays, Deutsche Bank, ING and Standard Chartered have been hired to arrange the transaction, said the sources.

DFSA Enforces Fine in the UK Against Sanctioned Individual

While Mr Grimes did not challenge the DFSA’s findings against him, he failed to pay the fine by the date it was due.

EU puts Saudi Arabia on blacklist for lax control on money laundering

Last year, Saudi Arabia failed to get full membership in the Financial Action Task Force

Barclays deal with Qatar was ‘dodgy’

Court hears bankers admit to worries over fees

Angola’s parliament approves elimination of double taxation with Portugal, China and UAE

Portugal’s parliament last week voted in favour of the motion to approve the Convention on the Elimination of Double Taxation in Income Tax and Preventing Tax Fraud and Evasion between the Republics of Angola and Portugal

UAE Central Bank announces M1 increases by 1.3%

The increase in the money supply aggregate was mainly due to an increase of Dh6.2 billion in monetary deposits.

Dubai Islamic Bank successfully closes USD 750 million AT1 Perpetual Sukuk

The success of this transaction came on the back of an extensive marketing strategy aimed at updating international and regional investors with DIB’s strategy and continued strong financial performance.

What Barclays banker accused of getting £11.8bn secret bailout from Qatar during 2008 crash said to his colleague

Alleged four top executives agreed to funnel £322m in secret fees to Middle East

Saudi Arabia's turbulent years: For how much longer can King Salman shield MBS?

In the four years since King Salman assumed the throne, his son has made a mess of domestic and foreign policy

Qatar believes in strength of GCC: FM

H E Sheikh Mohamed bin Abdulrahman Al Thani said that there is no sign of a breakthrough in the Gulf crisis so far.

KFH, Al-Ahli banks merger to begin

Al-Ahli United Bank also announced that its Board of Directors meeting will be held to consider HSBC and Credit Suisse reports

KFH- Capital arranges $1.6bn sukuk issuances for FAB and DIB

The various structures used by KFH Group in arranging Sukuk, Ijara, Wakala or others, have made Sukuk highly competitive against conventional finance instruments.

Syria is ready to court investors, but Europe wants to prevent that

The types of penalties may not be new, but the logic is, and European diplomats said this week that they hope the sanctions will send a chilling effect through a business community that the Syrian government is now relying on to redevelop the country.

Jury to hear groundbreaking charges against top UK bankers

Former Barclays chief John Varley and three colleagues stand trial on fraud charges

Egypt postpones $6.6bn repayment to Saudi Arabia

Egypt received the Saudi deposit in 2013 and agreed to repay it in five years.

Heera Ponzi scheme victims welcome charge sheet against CEO

Many however remain sceptical about whether it could help them recover their investments

Bahrain got first funds from Gulf aid last year - c. bank governor

Bahrain was expected to receive $2 billion late last year, officials told Reuters in October, as part of a $10 billion aid package that Saudi Arabia, Kuwait and the United Arab Emirates pledged to avoid the risk of a debt crisis in the island kingdom.

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