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

Kuwait's central bank sets up test ground for fintech

Bahrain has created a fintech regulatory unit and Abu Dhabi and Dubai is cultivating a financial startup scene.

U.A.E. Banks Look Outside of Their Home Turf to Boost Loan Deals

First Abu Dhabi Bank part of 51 foreign syndicated loan deals

Global Forum on Tax Transparency marks a dramatic shift in the fight against tax evasion

The meeting marked the widespread rollout of automatic exchange of financial account of information.

Ex-Falcon Board Members Charged

The two are being investigated by Swiss prosecutors and the banking regulator, which allege they used their position on Falcon's board to enable 1MDB to conduct unlawful business.

Goldman Sachs sued over 1MDB scandal by Abu Dhabi fund

The sovereign-wealth fund says the bank played a ‘central role’ in the 1MDB scandal

BMB directed to seek resignation of board of directors with immediate effect

The regulator has asked the bank to also ask the chief executive and chief financial officer to resign immediately as it does not consider them "fit and proper".

Bahrain cbank revises crowdfunding rules

Crowdfunding has globally witnessed incremental growth aided by Fintech platforms, the CBB noted.

Bahrain signs key business deals with China

The parties also attended the Bahrain – Hebei Business Forum to discuss opportunities and strengthen cooperation.

CFA Institute and the Middle East Investor Relations Association sign an MoU

The collaboration between CFA Institute and MEIRA underscores the mutual commitment of both organisations to contribute to improve the communication of the Middle Eastern companies

In Dubai, U.S. Sanctions Pressure Historic Business Ties With Iran

The deteriorating bank ties also threaten a larger re-export trade of other countries' goods to Iran through Dubai's ports and airports

UAE, Jordan sign $100m agreement to support entrepreneurs

New agreement is aimed at financing micro, small and medium-sized enterprises in Jordan

The GCC’s pension systems are ripe for reform

These generous policies for the local populations now face a key problem: how to ensure they remain sustainable in the long-term.

UAE's Senaat hires banks for planned sukuk -document

The industrial group is planning a 5- to 7-year tenor fixed-rate U.S. dollar-denominated senior unsecured sukuk under their $3 billion Trust Certificate Issuance Programme, subject to market conditions.

World Bank calls for ‘moonshot’ approach to Middle East economy

A new economy really is needed in MENA.

$1bn received from Saudi Arabia: State Bank of Pakistan

The new government has been struggling to plug the big hole on the external front as the current account deficit reached record $18bn in FY18.

Jordan’s Parliament Approves Amendments to Income Tax Law

Under the existing law, the figure is JD24,000 for households with JD4,000 in exemptions on VAT medical and educational receipts and invoices and JD12,000 for individuals.

Qatar to implement mandatory IR framework from October 2019

For some (listed constituents), this (the new framework) will be just "business as usual’ but for others, they will "undoubtedly" need to pay more attention to the IR function and its resourcing, he said

Deloitte issues call for common sukuk practices

Inconsistent laws and practices were highlighted in a dispute between UAE-based Dana Gas and its bondholders over the repayment of a $700 million sukuk and whether it still complied with Sharia law.

Qatar to ride on Big Four Agenda to deepen bilateral ties with Kenya

Even so, the trade balance is still in favor of Qatar, which exported goods worth $54.6 million (Sh5.4 billion) to Kenya in 2015 according to latest figures.

KPMG suspended in Oman as woes spread from UK to South Africa

The audit firm is already coming under scrutiny in countries such as the UK, South Africa and the UAE.

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