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

Despite questions, SWIFT messages are valid and enforceable in Turkey

Under Turkish law, legal transactions exceeding TRY 2,500 (approx. USD 800) can only be proven by a written document signed by the debtor.

Seeing off the competition

The DIFC regulatory body, DFSA, also announced further changes to the regulatory regime earlier this year.

Facing slower growth, UAE bank deals may just be starting

A combination of NBAD and FGB would mark the country’s first major banking merger since National Bank of Dubai and Emirates Bank International combined to create Emirates NBD in 2007.

QCB may postpone 100% loan-deposit compliance deadline amid liquidity shortfall issues: MDPS

Lower oil and gas revenues have caused public sector deposits in the domestic banking system to shrink, tightening liquidity and driving banks to raise funds abroad, it said.

Bahrain keen on expanding ties with Russia

Adviser to prime minister expresses interest in activating agreements with Russia in order to boost bilateral trade

Middle East focus: the Dubai International Financial Centre as a conduit jurisdiction

These proceedings take place in Arabic, are often slow and can produce inconsistent results.

Bahrain Bourse lists 10 treasury bill issues and Ijarah Sukuk worth BHD 741 million

Bahrain Bourse announced on Thursday, 16th June 2016 the listing of 10 issues in the Treasury Bills Market worth a total of BHD 741 million, issued by the Central Bank of Bahrain with discount rates ranging between 2.03 per cent and 2.86 per cent for 3-12

Deloitte banned from audit work for two years by Saudi Arabia’s market regulator

The judicial committee did not yet specify the date when the new and more extensive suspension would begin.

Turkey's Banking Regulation and Supervision Agency BRSA" officially an Institutional Member of AAOIFI

AAOIFI's business trip was concluded by a visit to the Islamic Finance Center - World Bank., where the two sides discussed ways of fostering professional ties which extend over two decades.

Morgan Lewis Advises NBK Capital Partners in the Establishment of NBK Capital Partners Mezzanine Fund II

Our team has been fortunate to work with them since their first mezzanine fund raised in 2009

Clifford Chance advises on sale of Americana, the largest M&A deal in the Middle East in 2016

A binding agreement to implement the sale was entered into on 18 June 2016 with Adeptio AD Investments, an investment company controlled by H.E. Mohamed Alabbar.

Corporate Counsel Middle East Awards International Law Firm of the Year: Clifford Chance

The judges were particularly impressed by the firm's graduate training scheme, pro bono work and corporate deals.

Barclays labels US$1b lawsuit over 2008 fundraising 'misconceived'

Barclays has described as "fundamentally misconceived" a US$1.0 billion-plus lawsuit brought by British financier Amanda Staveley over the bank's emergency fundraising from Gulf investors at the height of the credit crisis in 2008.

Financial centres: the gatekeepers of untapped opportunities

It is therefore pertinent for these destinations to possess certain legal infrastructures as well as other relevant features to operate as a financial hub.

KFH fully adheres to CBK’s security standards on cheques

The cheques should be kept in good condition and not to be folded nor torn.

Oman looks overseas to boost liquidity

Due to the limited impact that local banks have on project financing, funding for large projects is expected to come from overseas through international banks or initial public offerings.

UAE Labour Law: Employers must give detailed job offers - termination terms

Global regulatory framework to boost Islamic finance transactions discussed

National Bank of Fujairah highlights impact of changing legislation and market challenges facing UAE companies in inaugural Knowledge Series

They emphasised the importance of preparing against key issues most likely to affect companies in the UAE.

MoF signs cooperation agreement with UAE Central Bank

The agreement aims to enhance cooperation in areas of joint work, including monetary statistics, and government financial and banking information.

AAOIFI, UAE's SCA sign cooperation agreement

The cooperation also involves conducting focused studies that would contribute to the development of these markets and the finance and investment services industry.

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