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

Middle East Banks Should Be Preparing For Regulatory Changes

The new standard impacts three major areas for banks: classification and measurement, impairment and general hedge accounting.

Climate change, ethical investments and corporate social responsibilities

In an address at the White House, he said he was prepared to negotiate a new agreement or re-enter the accord on improved terms.

UAE to get first legal structure for foundations

The aim is to provide a complement and alternative to trusts for asset protection and wealth structuring.

Qatar Development Bank signs cooperation MoU with Dubai Exports

The agreement aims at supporting trade between exporters in Qatar and the UAE as well as enhancing trade and business opportunities between entrepreneurs from the two countries, including manufacturers, exporters, traders and service providers.

Kuwaiti government highest-spending in the world

Analysts say that the high rate of public spending reflects the extent of government intervention in the national economy.

Iranian Bank Account Closures in 3 Countries Dampen Trade Prospects

Iranian business owners in the Emirates believe that it is not all about the nuclear accord and sanctions.

Clifford Chance advises NBK on GMTN programme

The offering constitutes the first bonds to be offered and sold to qualified institutional buyers in the United States in reliance on Rule 144A and Regulation S from a GCC financial institution since 2009.

Bahrain’s GFH receives $2.5m as legal settlement from Prescott Energy

GFH won a legal case filed in 2013 against against Prescott Energy

Large portion goes in paying public employees’ salaries

It also indicates the ongoing spending and consumption inflation, which poses a burden on the national budget.

Businessman accused of embezzling wife’s Dh30.5m

Banker accused of helping forge woman’s signature on money transfer and banking facility forms

UAE Central Bank orders closure of money exchange

Committee formed to evaluate losses to customers and compensate them

UAE forms fatwa council to advocate moderate Islam

The Cabinet approved during it sessions the formation of the UAE Council for Fatwa to be the sole reference for fatwa across the UAE and to ensure the alignment of all issued fatwa.

Qatar and UK continue to count the cost of Barclays bailout

All were deemed to be vulnerable to the dramatic falls in asset values prompted by the collapse of US sub-prime real estate.

Saudi foreign assets keep falling in April amid heavy overseas borrowing

The government has been drawing down the assets, which hit a record high of $737 billion in August 2014

Lebanon seeks a secure financial sector

Central Bank Governor Riad Salame wins a fifth six-year term in a move widely praised

DFSA launches Innovation Testing Licence for FinTech Firms

This initiative signals the next phase of the DFSA’s regulatory roadmap to foster innovation in Dubai.

Tehran, Muscat after stronger banking ties

Leading a high-ranking banking delegation to Muscat, Valiollah Seif made the visit in order to follow up earlier agreements reached during earlier visit of President Rouhani to the Persian Gulf littoral state.

UAE Central Bank signs MoU with Abu Dhabi Judicial Department

Commenting on the signing, Muhammad Al Falasi, said, "Signing this MOU reinforces the continuous efforts exerted by Central Bank to support electronic transformation of services provided by federal and local entities and authorities, in line with the

Now, pay Dubai RTA fines in instalments

The move is a further step towards cementing the strategic partnership between ADCB and RTA.

Chipping away at the personal debt problem

He is now being treated in a Dubai hospital because of a mental illness and cannot return home because of his outstanding debt of Dh335,000.

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