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

Iran, Turkey's senior officials discuss banking ties

On Oct. 20, Iran and Turkey's central banks announced that both neighbors had signed a currency swap agreement for conducting bilateral trade in local currencies.

Sagia grants 3 investment licences to Japanese firms

The granting of licences were revealed at the Saudi Arabia-Japan Business Forum on Sunday in Riyadh, said a Saudi Press Agency report.

Egyptian parliament approves limited cabinet reshuffle

The reshuffle of Prime Minister Sherif Ismail's cabinet is the third since it was appointed in September 2015

Baker McKenzie Habib Al Mulla launches tax practice

Company adds Andrew Mackenzie and Reggie Mezu to its management team

International law firm expands Middle East presence

This expansion was coupled with the recent appointments

Dubai Islamic Economy Development Centre to Enhance Cooperation in Islamic Economy With RIW Group

His Excellency Abdulla Mohammed Al Awar, Chief Executive Officer of DIEDC, and His Excellency Veniamin Popov, Coordinator of RIW Group, signed the agreement in the presence of senior representatives from the two entities

Iran steadily reaches its goal of luring foreign investment

By signing the deal, Italy has become the seventh country agreeing to finance projects in Iran since the Joint Comprehensive Plan of Action (JCPOA/ nuclear deal) was implemented in January 2016

Qatar is devising comprehensive regulatory framework for NBFCs

The QCB issued a draft regulation in August 2014, which eased limitations on the size of credit facilities previously imposed on NBFCs

Residents think before spending after VAT imposed in UAE

Residents are stopping, thinking and calculating before spending in the VAT era.

Italy and Iran to sign $5.97bln investment agreement- Treasury source

Opening of lines of credit to two Iranian banks by Invitalia, an Italian state-owned holding, in order to finance investment projects.

Central Bank of Bahrain Approves Ithmaar’s Dubai Listing

Ithmaar Holding B.S.C. (Ithmaar) received on Monday (ed note: 08/01/18) final approval from the Central Bank of Bahrain (CBB) to list on the Dubai Financial Market

Banks in Lebanon warn of double taxation consequences

Bankers said they would be obliged to raise interest rates on lending and reduce rates on customer deposits

Emirates to Seek $1 Billion Sukuk to Diversify Funding

Emirates, which has built its Dubai operations into a hub for transcontinental traffic between the U.S., Europe and Asia, has been a regular borrower in the aircraft-financing loan market.

ASAR acts as legal counsel to KIPCO, joint lead managers in KIPCO’s corporate bond issuance

The bond issuance was well received by both institutional and high net worth investors and was oversubscribed.

Central Bank of Bahrain grants licence to UK financial services firm

UK-based Nomura International has got a representative office licence to operate in Bahrain

Dubai's DFM reveals list of securities in short selling push

Dubai Financial Market says new service is part of plans to improve liquidity

Businessman Saiful evading ACC summonses for quizzing in AB Bank money-laundering probe

An AB Bank customer, businessman Saiful Haque, has not responded to the Anti-Corruption Commission summons twice for interrogation on charges of money laundering.

UAE central bank says enough coins in circulation amid overcharging concerns

The Department of Economic Development – Abu Dhabi has given shops permission to round up the cost of items

VAT to introduce transparency, industry leaders say

The VAT registration form is available online on FTA’s portal and it should be completed by a person who is the authorised signatory of the business.

Emirates NBD to provide clearing services for Index Securities

Bank is the first UAE-based financial services entity to be approved by the regulator as a General Clearing Member

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