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

Palestinian billionaire Masri released from Saudi detention

Masri was detained last Tuesday

The murky US prosecution of a Turkish banker

Banker, Mehmet Hakan Atilla, 47, had been charged with conspiring to violate US sanctions on Iran

Central Bank of Bahrain endorses launch of Bahrain FinTech Bay

In addition, the CBB will work closely to support innovators at the BFB in providing access and guidance to its regulatory framework, including the Regulatory Sandbox.

KPMG revenues grow strongly to record $26.4 billion

KPMG invested more than US$1 billion this year in a multi-year program focused on new technology, innovation and developing new services and solutions

Bahrain central bank raises key rate by 25 bps

The central bank’s key policy interest rate on the one-week deposit facility was raised to 1.75 percent from 1.50 percent.

UAE consumers to pay more as interest rates go up

The Fed has raised its key rates five times since the recovery from the Great Recession began in 2009.

Banks directed not to misuse Citizen’s Account deposits

The central bank asked the banks not to deduct the money from the Account for carrying out any banking transactions

English high court confirms that sharia non compliance will not affect the enforceability of an english law agreement in an islamic finance structure

The claimant has applied to the Court of Appeal for permission to appeal.

Turkey's wealth fund in talks with foreign funds for cooperation: acting chairman

Turkey’s sovereign wealth fund wants to form a fund to finance a domestic car project, Karadag also said.

Iran Tax Revenues at $19 Billion

Mohammad Reza Pour-Ebrahimi, the head of Majlis Economic Commission, said tax revenues will be the backbone of next year’s budget.

Detained Saudi billionaire al-Sanea seeks to end debt dispute

Reemas Group did not immediately respond to a Reuters request for comment.

US tax reforms to add value to Qatar investments

Qatar has significant exposure to US market, especially in the real estate and equity market.

Bahrain issues ETFs regulations

It will also permit the registration of listed offshore ETFs as detailed in CBB Rulebook Volume 7.

GFH plans to develop ‘one of the key land banks in the region’

Bahraini investment house in talks with two interested parties to develop more than 25 million square metres of land

A complete guide to the most sensational Saudi princes

The sprawling Saudi royal family has traditionally featured a massive, but generally secretive, cast of characters.

UAE questions US omission from tax haven blacklist

Dubai wealth managers have questioned why countries like the US and Switzerland have been left off the EU tax haven blacklist but the UAE has been included.

Qatari-French ties marked by continuous co-operation

This is the second meeting after the Qatari-French summit held at the Elysee Palace during the Emir’s visit to Paris in mid-September.

UAE must do more on transparency to get off tax blacklist -EU envoy

"The EU has been in touch over the last months with the UAE authorities and the UAE made a certain number of commitments," EU ambassador Patrizio Fondi said in an email to Reuters.

DFSA signs FinTech agreements with Hong Kong authorities

The DFSA signed bilateral agreements with Hong Kong’s Insurance Authority (IA) and the Hong Kong Monetary Authority (HKMA), in Hong Kong.

Bahrain to launch compulsory risk regime for Islamic banks

Consultation to be published in the first quarter of 2018, final set of rules in H2, says central bank official

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