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

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Qatar govt prepared to cover banks if deposits ‘withdrawn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

UAE one of the easiest places in the world for accounting and tax compliance

Regulations and controls are in place to ensure that while the UAE attracts international businesses and makes a name in international financial services, it also has reputable standards.

The legitimacy of new bank fees

The newly revised banking fees are imposed on customers through an automatic system and every one of us is forced to pay them and keep silent.

Barclays to learn if SFO will press charges over Qatari cash injections

Reports suggest announcement as early as Tuesday after five-year investigation into fundraising at height of financial crisis

The legitimacy of new bank fees

The newly revised banking fees are imposed on customers through an automatic system and every one of us is forced to pay them and keep silent.

Barclays braced for outcome of five-year SFO fundraising probe

The SFO will announce the outcome of its five-year probe into Barclays' crisis-era deals with Qatar within days

Banker bribed to invest Dhs70m in penny stocks

A review of these stocks revealed they were widespread in that country’s market but they were inactive and not wanted by buyers on the stock market.

Kuwait sits out Fed rate move on modest growth

Gulf Arab countries are struggling to bolster economic growth as oil prices fall and a strong dollar hurts industries such as tourism.

Central Bank of Bahrain debuts regulatory sandbox

The testing duration is nine months, with a maximum extension of three months.

Qatar Crisis Challenges Gulf Assets as Middle East's Safe Haven

Change follows Saudi Arabia, allies, cutting ties with Qatar

Abu Dhabi investigators foil attempt to steal $173m from UAE bank account

Nearly 40 Asian and European individuals have been arrested in connection with the crime

International Lenders Support Qatari Banks Hit by Regional Rift

Saudi Arabia, the UAE, Bahrain and Egypt last week severed diplomatic relations with Qatar, accusing it of support for Islamist militants and Iran.

Kuwait Central Bank keeps the discount rate at 2.75%

The decision is also based on continuous monitoring by CBK of the domestic market, taking into consideration movements in interest rates on major international currencies, he added.

Federal Reserve raises interest rates, GCC countries react

The Fed raised its Federal Funds Rate by 25 basis points on 14 May 2017, resulting in several central banks' across the GCC either raising, or maintaining their rates.

Qatar crisis challenges Gulf assets as Middle East’s safe haven

The average spread paid by governments in the Middle East to borrow in bond markets has since risen seven basis points

Bahrain launches new rules for fintech firms

The testing duration is nine months, with a maximum extension of three months.

Bahrain wealth fund Mumtalakat has up to $300 mln for new deals

We are looking at some business opportunities to invest in the Saudi market.

Egypt central bank removes foreign currency transfer limit

The controls were imposed to crush a black market for dollars that had sucked foreign currency out of the formal banking system.

Qatari banks fall after UAE red flag, Dubai's Emaar climbs

The UAE, as part of its response to the diplomatic rift in the region, told local banks to apply "enhanced due diligence" to the Qatari institutions

Legal, Tax, Regulation & Compliance