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

Deloitte LCB audit case set for trial

A Dubai court will use Lebanese law to explore Deloitte’s role in the collapse of the Lebanese Canadian Bank

Saudi Arabia's SEC to close USD2b credit facilities pact

In a statement Tadawul carried, SEC conrmed that a funding of USD1.5 billion is to be directed towards an initial tranche for three years, with a USD572.5 million to be financing the second tranche for a period of five years.

SQM FrontierManagement Selects BNY Mellon to Provide Custody Services

SQM, an SEC registered investment adviser focused on emerging markets, specifically frontier Africa and the Middle East, selected BNY Mellon following a competitive tendering process.

Bahrain central bank considers new guidance for Islamic banks

Bahrain’s central bank has already tightened governance rules for Islamic banks

Case against Deloitte unit moves closer to trial

The Lebanese Canadian Bank collapsed following a US investigation in 2011 that accused the institution of supporting money laundering networks and international drug trafficking

UAE reaches agreement for facilitating domestic funds licensing

His Excellency added that the agreement implements passporting mutual recognition as a regulatory mechanism for the promotion and supervision of investment funds, and encourages foreign licensed firms in financial free zones based in other countries to mo

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.

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