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

Saudi government reserve drops by near $23bln in Q4 - official figures

Saudi government reserves have more than halved to $132.2bln over the past four years, central bank statistics show

Is Brexit good news for the GCC?

One of his goals, he says, is to bolster these relationships by lending British expertise to the various ‘vision strategies’ and transformation agendas that GCC governments have embarked upon, such as Saudi Arabia’s Vision 2030 and the U

12 fined Dhs1.96 million over bank scam

Three gang members approached a telecom company clerk (29) and offered him a Dhs10, 000 bribe to confirm the Indian’s telephone number was correct.

Saudi prince’s anti-corruption sweep ends with $106B netted

Analysts and critics said it was also a way for the prince to sideline potential rivals and consolidate power as he prepares to inherit the throne from his father, King Salman.

Dubai regulator secures $52,500 fine through British courts

Insurance intermediary boss failed to pay after firm was caught advising clients outside the DIFC

Digital giants ‘profiting’ from settlements; call to oppose Eurovision

Israeli public security minister Gilad Erdan threatened to bar Amnesty from access to the Jewish state over its charge.

DFSA joins launch of Global Financial Innovation Network

The DFSA is proud to have been a founding member of the GFIN

Turkey central bank trims 2019 inflation forecast

Central bank cuts its 2019 inflation forecast to over 14 percent while vowing to keep tight monetary stance until current fast rising prices fall back.

Agusta accused deported from UAE

Lawyers of Saxena claimed that he was picked up by UAE authorities in the morning and "illegally extradited" to India.

Barclays' lawyers did not object to £322m fees paid to Qatar, court told

Bank’s legal team said to have ‘persuaded themselves’ that agreement in 2008 was lawful

Dubai Has Become A "Money Laundering Paradise" Says Anti-Corruption Group

In a report issued in June last year, C4ADS said it had identified 44 properties worth some $28.2m that were held directly by sanctioned individuals

Dubai Drags Its Heels On Release Of $500m In Frozen Funds, Missing Its Own Deadline To End Dispute

The Port Fund’s lawyers said they had received assurances from the authorities in the UAE that the funds would be released once the Kuwait government approved such a move, but at the time of writing the money remains out of reach.

Yemeni gov't seeks to unfreeze bank accounts in foreign countries

The German ambassador also met with the country's Prime Minister Maeen Abdulmalik and discussed key financial issues and the suitable ways to support the war-torn Arab country economically.

UAE, Saudi central banks to launch common digital currency called 'Aber'

Central banks want to be front-runners in application of technology in their operations

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

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