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

Abu Dhabi Signs MoU With Chinese Bank Regulator

Similarly, ADGM supports its local stakeholders in their aspirations to expand their engagement with China.

Law to trade through social media urged

Banks will inform security agencies when they receive suspicious amounts and foreign remittances into the accounts of clients to check the source of amount,” he told Makkah Arabic daily.

Cma Oman's sukuk regulation aims to provide transparency

It is to be noted that not all jurisdictions have specific and separate sukuk regulations, particularly in the Gulf Cooperation Council countries

Adgm and UAE central bank in partnership against money laundering and terrorism financing

The two institutions have pledged to cooperate closely on AML/CFT issues, and to coordinate training and technical assistance in this area.

Saudi bourse says to have T+2 settlement early 2017

The Saudi Stock Exchange will introduce in early 2017 the settlement of trades within two working days of execution, it said on Tuesday, a reform that could help the market join global equity indexes and attract billions of dollars of foreign money.

Legal business structures in Dubai

These structures are applicable to new businesses set up within Dubai, excluding all free zones

Saudis Ease Stock-Investing Rules in New Foreign Enticement

In a separate statement on its own website, the exchange said it will amend its settlement cycle for share trading, bringing it in line with European markets.

Know your LLCs from your SPVs in the GCC

Company laws in both Saudi Arabia and the UAE say that all shares in a limited liability company (LLC) must have the same value.

Saudi central bank net foreign assets fall $6bn in March

Net foreign assets held by the central bank dropped by 1.0 per cent from the previous month

Can Abu Dhabi's new financial free zone compete?

The team set about drawing up commercial regulations for financial and non-financial firms.

Bahrain’s economy to slow further in 2016-17, IMF says

Fund welcomes Gulf nation’s fiscal reforms but says more needed; calls for steps to address impediments to private investment

Gcc banks remain resilient, long-term outlook still positive

Banks are experiencing new challenges as a result of the current economic environment, greater regulatory oversight, supervision and stiffer competition.

Qatar National Bank allegedly hacked, data of 1,200 entities leaked

The data breach includes the personal bank accounts and passwords for Al Jazeera employees and members of the ruling al-Thani family

UAE regulator SCA extends scope to cover financial planning

The change to the ‘Financial Consultation and Financial Analysis’ licence follows a consultation with the industry last year, and is one of a series of amendments, which also include a code of conduct for employees, made to the regulations ear

GIB raises 2 billion Saudi Riyals

The demand from a large number of highly respected entities reflects the market’s confidence in GIB’s experience and strong financial position.

Foreign court judgments could now be enforceable in onshore UAE via the DIFC Courts

DIFC law and practice on the enforcement of foreign court judgments is now in line with the DIFC law and practice on the enforcement of arbitral awards.

National Bank of Kuwait gets regulatory nod for capital raise

The rights issue will be worth 137.58 million dinars ($455.64 million), according to Thomson Reuters calculations.

Dla Piper confirms commitment to Abu Dhabi with new premises

Dla Piper has relocated its Abu Dhabi office, taking up premises in the Emirates Institute of Banking & Financial Services Building.

Turkey fully compliant with Basel III

This is the outcome of the extensive rulemaking efforts of the Banking Regulation and Supervision Authority, which has introduced sweeping changes since 2013 to ensure Turkish banking laws' compliance with Basel III.

Turkey is scrambling to stop hedge funds from driving the lira higher

Turkey had already cut that rate by a quarter of a percentage point earlier in 2016

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