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

Kuwait Finance House – Bahrain concludes ‘Wa’ed’ Graduate Trainee Program

A number of graduates were hired upon successful program completion

Egyptians Can Now Open Bank Accounts without a Minimum Deposit

These initiatives include different ‘Bedaya’ (beginning) accounts with the aim of tailoring banking services to individual needs and making them more accessible.

Egypt's central bank leaves key interest rates on hold

As forecast by analysts, the bank left its lending rate at 19.25% and deposit rate at 18.25%, its Monetary Policy Committee said

Corporate Tax: At Dh1m, UAE ensures sizeable upper limit for individuals in business unlike VAT's Dh375,000

VAT ceiling for individuals doing business is Dh375,000 in annual revenue

UAE announces key tax rule update for resident, non-resident entrepreneurs

The Ministry of Finance has increased the tax threshold for business or business activities conducted by individuals

All you need to know about mandatory UAE Unemployment Insurance Scheme

Pay up to Dh120 to receive up to Dh20,000 monthly if you lose your job or face Dh400 fine

Saudi Arabia modernises arbitration rules

The court will be comprised of 15 Saudi and international expert legal practitioners, retired judges, former leaders of arbitral institutions and academics.

Lebanon central bank chief did not attend French fraud hearing – judicial source

The three have been charged in two separate cases in Lebanon.

UAE Central Bank imposes sanctions on 8 banks

The banks did not comply with guidelines on not granting loans to select

KPMG: Building a regulatory ecosystem conducive to innovation and regulating it

Since governments have become increasingly aware of the importance of these technologies, they have begun taking measures to ensure their citizens have access to these technologies.

Federal Tax Authority organises an awareness session on the amendments to Emirates’ reporting for electronic commerce supplies

H.E. Khalid Al Bustani: Clear mechanisms for e-commerce transactions’ reporting to capture accurately receipt and consumption in this vital sector

Central banks 'should change regimented ways' of regulating FinTech industry

Frameworks should be upgraded to allow expansion of industry and maintain oversight, Bahrain central bank governor says

Abdalrahman Bin Kharbash (PwC) wins 'Best Emirati Talent' award

Notably, Abdalrahman received the award in the presence of UAE’s two most influential leaders: President Mohamed bin Zayed Al Nahyan, and Vice President, Prime Minister, and Ruler of Dubai, Mohammed bin Rashid Al Maktoum.

Emirates NBD to collaborate with DIFC to advance shared goal of supporting the Dubai Economic Agenda D33

Letter of Intent signed at Dubai FinTech Summit 2023 by Arif Amiri CEO of DIFC Authority and Abdulla Qassem, Group Chief Operating Officer, Emirates NBD

Oman Central Bank raises interest rate by 25 basis points

Raising the interest rate includes a number of advantages for the Sultanate of Oman

DIFC enacts new Venture Studio regulations

This move will establish the first global legal framework for the regulation of venture building, which will aim to promote the growth of innovative start-ups and scale-ups in the region from within DIFC

Dubai's Drake & Scull registers lawsuit against PricewaterhouseCoopers

Lawsuit in Dubai Court of First Instance comes after independent consultant's report

Most GCC central banks raise interest rates tracking US Fed move

Central banks in the GCC usually track the Fed’s policy rate moves as their currencies are pegged to the US dollar

Bank Nizwa partners with Buna to offer seamless cross-border payments

Will provide its customers with seamless payments in both Arab and international currencies, within a safe, risk-controlled and transparent environment

UAE's mandatory job loss insurance scheme: 2 new employee categories added

Failure to subscribe by June 30 will result in a penalty for employees

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