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

Fighting financial crime is costly but worth every penny

HSBC spends a fortune in new technologies that will help thwart fraud and scams as it bids to become an industry leader in risk management

GFH to pursue David Haigh's Dubai and London assets in damages enforcement

Collection of damages awarded to GFH will impact company's 2018-19 results

UBF to develop banking experts' profession

The initiative comes in line with UBF objective of keeping up with the latest global developments to promote digital transformation

EU lawmakers back plan for European Investment Bank work in Iran

The European Parliament overwhelmingly blocked a motion by far-right lawmakers seeking to prevent the European Commission from lifting restrictions on the EIB in Iran

Four Big Banking Issues Affecting UAE Company Formation

This is a challenge for entrepreneurs in the UAE and worldwide.

Lawyer: Dubai’s troubled Abraaj nears out-of-court settlement

The Cayman Islands court appointed liquidators to oversee an “orderly restructuring” of the group.

Dubai courts uphold claims against ex-Leeds owner Haigh

Former deputy chief executive of GFH Capital ordered to pay $6m to company's Bahraini owners

King ratifies Bahrain-Egypt tax accord

The King also ratified and issued an amended law on co-operative societies.

KPMG was a key witness as investment firm Abraaj unraveled

Investors have accused the Dubai-based private equity firm of using money from its funds for purposes that were not sanctioned

Bank Nizwa unveils reduced property financing rate

Bank Nizwa’s property finance solutions offer customers a choice between the Ijara/Forward Ijara scheme

Dubai investigates Abraaj over alleged mismanagement: sources

The DFSA declined to comment. Abraaj said in a statement discussions between it and the regulator were “ongoing.”

Qatar’s foreign investment law could be a ‘game changer’

Before finalising their investment decisions they are keen to understand the exact details of the draft-law after its final nod.

David Haigh trial opens in Dubai in dispute with Bahrain’s GFH Capital

Subsidiary of Gulf Finance House claiming $5m from its British former deputy chief executive

Bahrain central bank's net foreign assets fall in May

The assets dropped to BHD671.1million ($1.78billion) from 779.4 million dinars in April.

Kuwait’s cabinet resists pressure to tax expats’ remittances

The government had officially notified the parliament that it rejects demands to cancel decisions of increasing the fuel, electricity and water prices, according to local media.

Landmark tax agreement to strengthen tax treaties enters into force with additional countries joining

The new signatures and the imminent entry into force of this landmark agreement underlines governments’ commitment to update the international tax rules and ensure they are fit for purpose in the 21st Century

Gulf neighbours Kuwait, Saudi Arabia and the UAE will offer new aid to strengthen the country's "fiscal stability"

Meanwhile, a statement carried by the Saudi Press Agency said the countries are committed “to consider all options to support the Kingdom of Bahrain and to finalise an integrated programme".

Hong Kong Seeks to Widen DLT Use in Trade Finance

The HKMA said under the cooperation agreement, it will collaborate with the FSRA to develop innovative financial technology projects, with a specific interest focusing on DLT utilization in international trade finance.

DED Signs up With Adcb and Mashreq to Support E-Traders

The e-Trader licence allows Emiratis and GCC citizens aged 18 or above and residing in Dubai to conduct business across social networking sites.

CI Capital signs Brokerage Services Agreement with Maybank Kim Eng

The collaboration aims to offer global institutional investors access to Emerging and Frontier markets spanning from MENA to Asia.

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