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

Controversy intensifies over new Banking Law

CBE surveyed IMF and World Bank experts regarding the law after field visits to several central banks, Amer said in an earlier statement

Abu Dhabi Global Market inks new partnerships with Labuan

The Authorities are also prepared to develop relevant activities and events that foster financial innovation and closer regulatory cooperation in both jurisdictions.

Qatar deposited over $10 bln in banks to offset crisis outflows

Deposit outflows look likely to continue in coming months.

Imran urges UAE central bank to disclose non-residents’ accounts details

Panama Papers probe, in its final report, revealed Prime Minister Nawaz Sharif’s employment with an Emirate-based firm as chairman.

It's time to move on without Qatar

New regional relationships will emerge and strengthen.

Saudi foreign reserves rise in June for first time in a year

The long slide has worried financial markets because the reserves may be needed to defend the Saudi riyal from any speculative attack.

Dubai's Mashreq bank sees drop in demand for Qatar business

Some clients were waiting to see how the crisis unfolded before making financing decisions.

UAE asks banks to freeze accounts of those named on Qatar-linked blacklist

We have to go on without Qatar.

Bahrain's Al Baraka Banking Group and the Libyan Foreign Bank sign a memorandum of understanding to enhance their banking relations in all fields

The MoU was signed by Mr. Adnan Ahmed Yousif, President & Chief Executive of ABG and Chairman of Al Baraka Türk Participation Bank on behalf of Al Baraka Banking Group and Mr. Mohamed Mohamed A. Ben Yousef, General Manager of LFB on behalf of the

Another Fintech Bridge Opens

This Agreement will help to connect Australian fintech businesses with a range of exciting opportunities in a region ripe for further development.

Saudi multi-millionaire's daughter, 38, set to inherit £100m is demanding £7.5m from her Goldman Sachs banker ex-husband because 'her father can't be expected to support her lifestyle'

Appealing, the stay-at-home mother says the £5million penthouse apartment.

UAE Surplus Reserves Jump 77.6 Percent in June

The Central Bank typically represent an additional source of income that generates annual returns for traditional banks and consequently maximise their revenues.

Bahrain sends request for proposals for U.S. dollar bond, sukuk issues

Bahrain needs to raise external financing to plug a budget deficit caused by low oil prices.

UAE orders banks to freeze accounts, assets of those on terrorist list

The Kingdom of Bahrain and the Arab Republic of Egypt in the fight against terrorism.

Bank interest rates in Oman increase amid tight liquidity situation

Local currency deposits have attracted higher interest rates than foreign currency deposits in recent years.

Mena Growth Will Fall Considerably

After recovering to over $55 a barrel following a production reduction agreement by producers, oil prices receded on strong inventory levels and a pickup in supply.

Epic Saudi fraud trial coming to a close in Cayman court

The Cayman trial revolves around the claim from the Al-Gosaibi family that it was the victim of a $9.1bn fraud conducted by Al-Sanea

Saudi Arabian Monetary Agency says foreign assets close to SAR 2 trillion

The third category of SAMA’s foreign assets are in the form of bullion and cash which were SR245 billion representing about 13.2 percent.

Dubai DIFC a hit with Chinese, Indian financial firms

Recent changes to domestic regulations in India, and the India-Mauritius tax treaty, mean that Indian asset managers are seeking alternative fund juristictions.

Nawaz Sharif rejects JIT charge of hiding UAE employment

The JIT has recommended that the report's Volume-X should be treated as confidential as it contains details of correspondence with other countries.

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