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

Swiss Authorities Extend Mubarak’s, Ben Ali’s Assets Freeze for Additional Year

The Freeze of the Tunisian exiled leader’s asset was renewed for three additional years to end in January 2017.

Regulatory updates in Dubai's DIFC

The Intermediate SPVs will only be available to entities that already have a substantive presence in the DIFC

Russia sells stake in Rosneft to Glencore, Qatari fund for $11bn

The Qatar Investment Authority is one of the biggest Glencore’s investors.

Central Bank of Kuwait Governor highlights fintech, regulatory risks

Technology is supporting the outreach of formal financial services to the millions of otherwise unbanked customers

Shareholders of NBAD, FGB approve merger

The merger still requires approval from international regulators and the UAE market regulator

Finding the right building blocks for Middle East portfolios

Regulatory uncertainty over the registration of mutual funds

NY Court of Appeals Finds Personal Jurisdiction Based on Use of NY Correspondent Bank Accounts

Courts and practitioners may have to reconsider their assumptions about personal jurisdiction in future cases.

Abu Dhabi Death Knell for Najib & Co: 'We are committed to bringing him to justice' - UAE Royals refuse to let Khadem Al- Qubaisi off

He is also believed to have run a lucrative embezzlement and money-laundering racket which brought millions to his personal account

Central Bank of Bahrain considers fintech regulations

During the event, Dr. Chris Chan, Associate Dean of Canada-based Ivey Business School shared some of the key findings of the institution that recently researched in the space of digital banking and fintech.

Saudi Arabian Monetary Authority: Saudi central bank changes name

SAMA, the bank's acronym, remains unchanged.

Bin Faqeeh appoints KHCB as ESCROW Agent for HIDD Heights Project

KHCB continuously works toward strengthening the relationship with real estate providers in the Kingdom of Bahrain.

SDIF starting to repay depositors of Bank Asya

This announcement follows Şakir Ercan Gül's, the Chairman of the SDIF, statement on November 5, 2016 that the customers of Bank Asya will be compensated.

SBI merger with its associates to result in consolidation of GCC operations

The detailed merger plan, including financial implications, are being vetted by the Reserve Bank of India

Switzerland eyes AEOI with 21 countries

The introduction of the AEOI confirms Switzerland’s international commitment to implementing the AEOI standard

QFC sucessfully concludes asia roadshow in Japan

Japanese businesses attending the high level event had the opportunity to discuss the outlook for investment in Qatar and the Middle East

Al Salam Bank, Eskan Bank sign deal to offer property financing to projects in Bahrain

We are delighted in signing our partnership with Al Salam Bank-Bahrain that will help in facilitating the citizens of Bahrain with property financing options to purchase adequate housing units.

Financial services firms prepare for CRS implementation

Common Reporting Standard to come into effect from 2018

Spain, Qatar eye $1 bln Latam investment fund signing in 2017

The QIA has in recent years been seeking to diversify its portfolio away from European assets, announcing in 2014 it would put $20 billion into Asia.

Kuwait's Al Ahli Bank rebrands subsidiary in Egypt

J.P. Morgan acted as financial advisor on the deal, with Ernst & Young acting as transaction and tax advisor.

Central Bank imposes fine on Jordan Kuwait Bank (Cyprus branch)

The Central Bank of Cyprus has decided to impose sanctions in the form of a fine on Jordan Kuwait Bank for failure to comply with certain provisions

Legal, Tax, Regulation & Compliance