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

GIB Granted Retail Banking Licence in Bahrain

The licence is considered to be an important milestone for GIB as it will expand the bank’s presence in Bahrain and pave the way for further expansion across the GCC.

The mysterious fall in Saudi foreign reserves

Net foreign assets falling despite narrower budget deficit, mystifying economists and diplomats monitoring Riyadh.

Foreign exchanges in many countries are refusing Qatari riyals

Exchanges in Jordan and Lebanon, for example, are still operating normally.

Qatar riyal FX market in chaos but bankers believe peg still solid

This week it traded between banks as low as 3.81, more than 4 percent below its peg - the lowest level this decade.

The mysterious (and continuing) fall in Saudi foreign reserves

Net foreign assets falling despite narrower budget deficit; Rate of decrease almost the same as in 2015 and 2016

CB says Qatar-Gulf crisis could pose threat to remittance inflows

Despite being oil rich, this has put immense pressure on Qatar’s economy.

Qatar banks 'well-placed to weather crisis'

We are extremely comfortable with our positions, our investments and liquidity in our systems.

Qatar rejects list of demands from Saudi Arabia

The rift between the US Gulf allies has been awkward for Washington.

Future of "monetary tightening" unknown -- NBK report

President William Dudley reinforced expectations of another interest rate hike this year stating that inflation should rebound alongside wages as the labor market continues to improve.

Ex-Dubai Bank boss now faces fresh suit

The KDIC believes that Mr Zubeidi used the accounts to launder funds before transferring them to his personal coffers.

Rift risks upping Gulf debt issuer costs

We are not yet ready to increase our exposure to the region.

Gulf states prepare for VAT in time of crisis

Saudi Arabia, the UAE and Qatar are due to introduce VAT in early 2018, with the other three GCC members — Bahrain, Kuwait and Oman — following at a later date.

Qatar banking sector’s robustness proved again: Al-Shaibei

He stressed that Qatari banks are “very well capitalised”.

CBB licenses Bahrain Clear

It will also reflect enhancing the investors' confidence in the components of this sector and its legislative, technical and technological structure.

Abu Dhabi court ruling to allow investor to proceed with case against Citi

Sami Abbas Hussein Ali Al Amri has accused Citi of “mismanagement, self-dealing and an attempted cover-up”

UAE President restructures board of Abu Dhabi wealth fund ADIA

The Abu Dhabi Investment Authority is one of the world’s richest sovereign wealth funds

Money supply in UAE continues to increase in May

Biggest gain came from an increase of 0.9% recorded in gross bank assets

UAE cbank foreign currency assets top $87bn

The bank's total assets in May amounted to Dh382.1 from Dh364.45 in December 2016.

Dubai: Aadhaar card not mandatory for NRIs for financial, I-T transactions

NRI accounts to be unaffected, as Central government clarifies that mandatory linking of bank accounts to Aadhaar card is not applicable to NRI accounts.

Qatar govt prepared to cover banks if deposits ‘withdrawn

$18 bln deposits from blockade nations

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