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

Standard Chartered STILL on the hook over Iran deals as it faces £1.2bn fine in US

StanChart will be saddled with an independent monitor until the end of March

The Fry Group receives rubber stamp for Dubai business

The firm plans to use Dubai as a platform to offer its services in the local market and across the wider Gulf region.

UAE bank bailout points to restructuring, mergers

After two of the UAE's biggest lenders, First Gulf Bank and National Bank of Abu Dhabi, merged in 2017 to become First Abu Dhabi Bank

Qatar establishes General Tax Authority

GTA has been established as a separate entity, under the supervision of the Ministry of Finance, and is in line with Qatar’s plans to reduce the country’s dependence on hydrocarbon resources.

DFSA regulatory accepts seven new firms to apply for an Innovation Testing Licence

The Innovation Testing Licence forms part of the DFSA’s commitment to support innovation and the development of financial technology.

Mohammed Bin Rashid Approves DIFC’s New Expansion Plan

His Highness said that developing the financial sector is a priority that supports the economic future of Dubai

No more chauffeur service for these Emirates passengers

Decision has been taken after careful review of customer feedback and operational considerations.

Dubai waives bank guarantee requirement for tourism firms, to issue Dh250 million in refunds

Dubai scraps requirement for companies to set up bank guarantees

Turkey’s bank regulator to take over debts of football clubs

The BDDK gave the football clubs one month time to prepare their balance sheets in order to plan the debt restructuring.

Investors aghast after jailed CEO denies taking money from them

Nowhera Shaik rejects accusations she collected funds from outside India

More changes to UAE residency laws expected, says Al Mulla

Investors will also demand further activities to be subject to foreign ownership exemptions, said the chairman of Baker McKenzie Habib Al Mulla

Tough draw for Banks and Financial Institutions League

The draw was also attended by representatives of the participating teams from the banking and financial sector and a number of media outlets.

Israel Approves CRS Tax Regulations, With a Caveat

Israel's parliamentary finance committee approved on Tuesday a series of statutes that will make life a lot harder for tax evaders in the country. Philanthropic Jewish orthodox community lending institutes will be exempted

Dispute Over $500M Frozen In Dubai Inches Towards Resolution, As Kuwaiti Emir Watches From Sidelines

The funds were frozen in November 2017 while passing through Noor Bank in Dubai after the Kuwaiti authorities said the money was linked to a dispute involving allegations of embezzlement by senior executives at The Port Fund

New 100% investment law redefines UAE's business landscape

Among a spate of path-breaking reforms aimed at fuelling economic growth.

HSBC Turkey CEO being probed for 2013 Erdoğan retweet

A retweet of a portion of a movie about Hitler’s downfall may see the CEO jailed, as insulting the Turkish president is a crime

UAE banks 'pumped $24bn into Saudi Arabia, Egypt'

The UAE's banking system is the largest in terms of assets in the Middle East and North Africa.

UAE begins implementing 10-year visa for expats

Investors will be eligible for a five or 10-year residency visa depending on the size of their investment in the UAE.

Ex Barclays boss John Varley among four of the bank's former executives facing £6bn Qatar corruption trial

It has been claimed the men conspired to illegally lend money to Qatari investors, who then used it to buy Barclays shares that propped up the bank during the financial crisis.

UAE expat poll shows dissatisfaction with financial advice

The region’s expat financial advisory industry is facing a raft of government reforms to the way they work

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