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

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

Germany signs financing deals worth $228.3mln with Egypt

The second deal entails a €12 million grant to support Egypt’s dual education system.

Iran Denies Banking Troubles With Turkey

The account blockages only pertain to foreign exchange accounts that mostly concern major traders who move a considerable amount of currency out of Turkey.

Austrian Bank Opens €1b Credit Line for Iran

Iran's Economy Minister Ali Tayyebnia pointed to his last year's meeting with Jorg in Vienna and called for speeding up the process of boosting economic relations.

UAE Regulator Approves Emirates NBD as General Clearing Member

The bank will offer Trading Members a range of services to manage securities market transactions.

Qatar central bank chief says no disruption to domestic, foreign transactions

He said Qatari banks had an extensive international presence

UAE Central Bank Asks for Due Diligence on Qatar Bank Accounts

The list, endorsed by the U.A.E, Egypt and Bahrain, includes 12 entities and 59 individuals, according to a joint statement.

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