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

Oman launches debit card e-payment gateway project

OmanNet Debit Card E-Payment Gateway infrastructure provides safe and secure e-commerce transactions

Chinese banks active in UAE to spur regional growth

Statistics show trade between the UAE and China is expected to hit 60 billion U.S. dollars by the end of 2016

Kuwait: IMF calls for more critical reforms

The situation forced it to introduce the liberalization of diesel and kerosene prices while increasing energy prices and water.

Man Group closes Dubai office, to serve Middle East from UK

The company said it would also be withdrawing its licence from Dubai Financial Services Authority.

Iran official sees no long-term negative impact from Trump election

The administration will come to the point that they have to honor the JCPOA and that’s the only right way forward.

Saudi Oger said near $1.1b deal to sell Arab Bank stake

A sale of the stake in Arab Bank, Jordan’s largest lender, will help Saudi Oger repay some of its debts, according to sources

Dubai ruler issues decree on mortgaging granted lands in the emirate

According to the Decree, the Dubai Land Department will not register any mortgage unless all these conditions are satisfied.

Dubai's Shuaa says gets regulatory approval for ADFG to buy stake

Alternative investment firm ADFG agreed in June to acquire the stake from Dubai Banking Group, a subsidiary of Dubai Group.

Saudi Arabia is wrestling down money rates, central bank says

The central bank launched seven, 28 and 90 day repurchase agreements that it could use to supply banks with funds

Industrial and Commercial Bank of China /ICBC/ celebrates listing of a 400 million USD bond on Nasdaq Dubai

Trade between the UAE and China reached 54.8 billion US dollars in 2015, a 16% annual increase over the previous six years

Saudi central bank: hopes money rates to keep falling, not worried by U.S.

Saudi authorities have made no new decisions about the investments, he said.

Saudi 'comfortable' with foreign reserves level: central ban

The world's biggest oil exporter, in its budget released last December, projected a deficit of $87 billion this year.

UAE employee’s unlimited contract not subject to penalty

AB is not liable to pay her employer anything if she leaves as it is their responsibility to pay for all costs, including her flight to the UAE and any agent or visa fees

Payments evolution in the Middle East

Creation of digital finance ecosystems is a necessary facilitate long-term changes in the economy

Brooks Macdonald signs deal with Dubai-based Abacus

The quality, experience and fee-based model at Abacus made them a natural fit for our first international alliance and we are confident that our investment solutions will help to meet the needs of their clients.

Turkish central bank fixes interest rate on reserves in bid to boost lending

The rate varied from 300 to 500 basis points less than the average cost of funding, based on the volume of loans.

Painful reforms seen stabilising Egypt’s public finance

The IMF’s Extended Fund Facility will ease Egypts’ near term foreign exchange requirements

MENA Financial Crime Compliance Group launches

The group marks a significant milestone for MENA banks as they seek to bring collective action in the fight against money laundering and terrorist finance in the region.

iTrader Israel Owner Out on Bail, Ran a Well Oiled Scam Machine

The brokerage's top leadership is accused of fraud under serious conditions and unlicensed portfolio management.

Egypt pumps $2 bn into banking system from bond issue

It said the entirety of recent Egyptian government bond issues had been offered as security for the loan.

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