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

Leading advisers predict new UAE rules will cull firms by 50%

Howell said this may lead to brokers moving to enhance and augment their services with ‘value-adds’ such as tax advice and other extras

Turkish participation banks' profit soars 36 pct in first half

It is possible to say that when we exclude the damage of a participation bank exiting from the sector.

Criminal Probe of Former Bank Execs Worries Other Israeli Bankers

Probe of Bank Leumi's has not gone unnoticed in Hapoalim, Tefahot, both still in midst of investigation by U.S. authorities on allegations that they, too, enabled customers to evade taxes

Banque Misr, Egypt Post, Visa sign to co-ordinate in digital financial services

The agreement includes integration of traders in financial coverage system and provision of ATM machines at the post office

Swiss private bank hands to investigators documents related to UAE ambassador linked to 1MDB and Jho Low

Yousef allegedly has a financial link to Jho Low, the Malaysia businessman whom US prosecutors believe masterminded the illicit trail of state money into private coffers.

Europe accounts for 37% of Qatari banks’ cross border funded liabilities, says QCB

Britain’s exit from the EU or Brexit will have wide range of implication to global economy including the GCC economies, the report said.

Saudi Arabia has lost $250 billion in three years

The figure has also showed a 12.4 per cent decline compared to a year ago.

U.S. watchdog may fine Habib Bank, Pakistan's biggest lender, up to $630 million

The DFS said in a filing that its investigation had found that HBL held a U.S. clearing account with Saudi’s largest private bank Al Rajhi, which has been linked in the media and by the U.S. Senate to Al Qaeda and the financing of extremism.

Over 80 firms for Middle East franchise expo

The event will also cover workshops and seminars offering insights on legal, financial and entrepreneurial aspects.

Central Bank of Iran Assigns Sukuk Trading to Capital Market

The government started issuing bonds for its debts to contractors in 2015 and they were exclusively traded on the over-the-counter market Iran Fara Bourse

Bank employees pocket $10m in bribes

The developer counterfeited data in 15 facilities and guarantees’ transactions by filling in data in favour of ineligible individual applicants and companies.

DFSA and Hong Kong’s SFC sign FinTech Cooperation Agreement

It intends to catalyse growth and efficiency in a variety of areas including trade finance, alternative finance and Shari'ah-based services.

Qatar Banks Seek Asian, European Funding as Diplomatic Crisis Bites

One of the sources added that QNB, which is the Middle East's largest bank, was also considering private placements in other Asian markets.

New LIA chief wants UN to introduce “smart sanctions”

The new LIA chairman Ali Hassan Mahmoud has begun a charm offensive to gain backing for the smart sanctions scheme.

Israel, Arabs Now Have Big Opportunity for Cooperation

The group came away hopeful that the new generation of Arab leaders is a potential "game-changer," said a senior administration official.

Central Bank withdraws Dh8.2b of surplus liquidity

UAE working on laws to boost non-oil sector contribution to 80% by 2021

Sultan Al Mansouri, the Minister of Economy, speaks exclusively with The National

Sluggish July imports in Qatar show sanctions still hurting economy

Saudi Arabia, UAE and Bahrain cut diplomatic, transport ties with Qatar on June 5

UAE bank credit increases in July - Khaleej Times

The Central Bank data disclosed that total bank deposits also increased by Dh3.1 billion during July mainly due to Dh5 billion increase in non-resident deposits, overriding Dh1.9 billion fall in resident deposits.

Egypt court acquits Hussein Salem of money laundering

The prosecution’s investigation into the case revealed that Salem gave his children some of the money.

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