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

Gulf states not holding back on major reforms

Kuwait did what was deemed unthinkable in the past by proposing corporate taxes

Ex-Leeds Utd MD David Haigh acquitted in Dubai on Twitter abuse charges

He expected Mr Haigh to return to the UK in two to three days.

Bahrain Islamic Bank Joins the Pearl Initiative's Growing Network of Regional Corporate Partners

Since its establishment in 2010, the Pearl Initiative has developed a network of more than 40 partners across the GCC region.

MoF prepares 16 federal laws for banking sector

Laws include those on Central Bank, money laundering and financial services

Offering United Bank for sale still pending: chairman

CBE, other parties still studying issue of sale, we have not received instructions so far, says El-Kady

Pension reforms can be a timely solution for the UAE

It could easily unlock fund flows and value in equity and real estate

Saudi Arabia Tells Foreign Banks to Publicly Disclose Finances

Banks must also disclose senior executives’ pay and significant risk factors, two people with knowledge of the matter said, asking not to be identified as the matter is private.

Dentons advises MENA Infrastructure on sale of interests in United Power Company

The fund invested in UPC in 2009, becoming the single largest shareholder.

Judges announced for Corporate Counsel Middle East Awards

In a major innovation for 2016, the shortlists for General Counsel of the Year, International Law Firm of the Year and Middle East Law Firm of the Year will be drawn up following nominations from the region's in-house lawyers.

Saudi bank cost of credit ‘on the rise’

The decision could reflect positively on banks’ profits and spark a credit-induced economic growth; however, from a credit standpoint it entails relaxing one of SAMA’s proudly held safeguards against over -leverage.

Saudi ambassador sues Irish ‘fraudster’ for £25m

Mr Ryan’s business partner, Mohammed bin Abdulrahman al-Bisher, the Saudi Arabian ambassador to the United Arab Emirates, is suing him for the return of money he claims he paid into the businessman’s personal bank account.

Ashghal, QDB sign MoU to support SMEs in Qatar

The MoU will also ensure that Ashghal is conducting regular meetings in collaboration with QDB to monitor the performance of the companies in accordance with the mechanism agreed upon by the two parties.

FGB denies making bid for Barclays Egypt

Bank ‘has not engaged in any discussions’ on possible bid

Saudi central bank raises home buyers' loan-to-value limit to 85%

The change is part of a series of steps taken by the Saudi authorities in recent months to make financing more readily available for home purchases, as they seek to address complaints by a burgeoning population of young people over the kingdom's shor

Qatar to pass law on public-private partnerships by year-end

In PPPs, private investors take stakes in projects along with the government, bearing part of the risk and sharing profits.

Vinson & Elkins closes Abu Dhabi office

The firm further added, “ We consistently monitor all of the markets we serve to ensure that our practices are in alignment with client needs and the firm’s overall strategic goals.

Oman Law Firm Wins Islamic Finance Award

Islamic banking assets accounted for 7.4 per cent of the total banking sector at the end of 2015 and are forecast to reach 10-12 per cent within the next two years.

EIBFS hosts 70 bank employees at Basel III workshop

Emirates Institute for Banking and Financial Studies hosted an interactive workshop on Basel III implementation strategies and associated challenges for more than 70 senior-level attendees from the UAE’s banking sector.

Saudi central bank governor vows to keep currency peg

Currency speculators have put pressure on the riyal in recent months because of the impact of lower oil prices on Saudi Arabia's fiscal balance, causing a projected large deficit this year.

Falcon Private Bank secures licence in Dubai

Said Eduardo Leemann, chief executive officer of Falcon Private Bank: “Our new DIFC licence will enable us to strengthen our local wealth management capabilities.”

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