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

Egypt, Russia, UAE to sign deal on joint investment fund tomorrow

The signing ceremony will take place during the 10th session of the Egyptian-Russian Committee meetings.

IFRS For SMEs Explained

After years of discussion, the new Commercial Companies Law No 02 of 2015 has been introduced

UAB recommends economic, legislative reforms in Arab countries to attract foreign investment

Participants in the forum called upon Arab banks and financing institutions to adopt new financing models for infrastructure projects, as they play a vital role in stimulating the economy.

Key financial mis-selling case in Dubai nears conclusion

An appeal by the defendant banks against the initial judgement of their liability in the case was heard by the DIFC Court of Appeal in September 2015.

JSCL restricted from buying Dubai Bank’s stakes in BankIslami

Earlier in August 2015, a consortium led by Ali Hussain of JSCL and Alkaram Group offered Dubai Bank to purchase its 144.200 million in the BankIslami.

CEO hopes to settle Saudi firm’s $6B of debts

The time may be right for the company's debts to be finally settled, CEO Simon Charlton said.

International law firm bolsters Dubai office

His sectoral experience covers financial services, aerospace and defence, energy, construction and insurance.

Amanda Staveley sues Barclays for almost £1bn

The bank said in a statement: “We believe the claim against Barclays is misconceived and without merit and Barclays will be vigorously defending it.”

Abu Dhabi Global Market establishes its Regulatory Committee

The Regulatory Committee is an extension of ADGM's commitment to advocating and upholding the highest level of international regulatory standards and governance practice at ADGM.

UK Considers Allowing Iranian Banks to Resume Business in London

The Iranian banks are now working with regulators to get up to speed with new regulation such as capital requirements, risk management and governance, before restarting operations.

Probe clears Malaysian PM Najib, says $681 mln transfer a Saudi gift

"There was no reason given as to why the donation was made to PM Najib, that is between him and the Saudi family," Apandi said.

Bahrain central bank says remains committed to dollar peg

The dinar, pegged at 0.376 to the dollar, has come under pressure in the foreign exchange forwards market as low oil prices damage Bahraini state finances.

Bahrain regulator says no decision on fate of Iran's Future Bank

The move demonstrated the vulnerability of Iran's business interests in the Gulf at a time of heightened political tensions.

Simmons & Simmons launches one of the first funds investing in Iran

The team was led by funds partner Dale Gabbert

Trowers & Hamlins advises on landmark project within the Bahrain Financial Harbour

The Harbour Row development is a landmark project within the Bahrain Financial Harbour.

Bahrain Bourse adopts Treasury Bills Trading guidelines

The minimum accepted order in the T-Bills Market is BD5000 (Five Thousand Dinars) or its equivalent in the T-Bill currency.

Commercial Bank signs MoU with Mexican national development bank

The signing comes against the background of high level visits between Qatar and Mexico and the strengthening of diplomatic and bilateral ties between the two nations.

Collas Crill Wins Landmark Case on State Immunity

Collas Crill Partner Elena Moran acted for Tepe, a construction company based in Turkey.

UAE c.bank halts foreign banks waivers on state-linked lending - sources

Large international banks should be unaffected by the move

Fitch: New Egyptian Bank Rules Could Weaken Asset Quality

Other measures announced by the central bank on 11 January 2016 are moderately credit positive but are unlikely to significantly affect the banks' overall risk profiles.

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