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

European court rules against another Turkish bank seizure

The European Court of Human Rights states that Turkish state’s seizure of Demirbank in 2001 was unfair, in a repeat of a similar ruling concerning Kentbank.

SFO Offers Barclays Deal Amid Qatar Probe

The SFO gained powers to strike DPAs in February last year

JS Bank Limited receives a License from the Central Bank of Bahrain

The license allows the bank to expand its activities as wholesale bank from Kingdom of Bahrain.

UK Foreign Office says loses $1.3m in Dubai scam

The UK’s foreign office was conned out of $1.3 million (£870,572) after officials fell victim to a major fraud in Dubai.

Everys Solicitors expand into Middle East with Iranian law firm acquisition

The firm will now open a branch office in Tehran headed up by first ranking Iranian qualified lawyer Saeid Salari.

Central Bank issues Financial Stability Report – CBK also issues annual report for FY 2014-2015

The Central Bank of Kuwait has issued the Financial Stability Report for 2014 - Governor Dr Mohammad Al-Hashel announced yesterday.

Abu Dhabi Global Market Consults Open Market on Additional Financial Services Regulations and Rules

ADGM on Track for First Financial Services Licence Applications by Q4 2015

Barwa Real Estate arranges Shari'ah-compliant finance

Barwa Real Estate Group announced signing a Shari’ah-compliant financing contract with the International Bank of Qatar, worth $175 million approximately QAR 640 million.

200 wills registered under new DIFC probate system

More than 200 expats have registered their wills with a new common-law probate system launched in May, it was announced on Sunday.

UAE Ranks First in the World Justice Project's Rule of Law Index in MENA Region

These achievements are possible thanks to the accumulated expertise and skills of the UAE people

No BIT available? Multilateral investment treaties in Middle East and North Africa

This is surprising considering that intra-MENA bilateral investment treaties represent only a fraction of the more than 500 BITs in force in MENA states.

Oman takes legal action against Bulgaria over bank collapse

Oman's biggest sovereign wealth fund owned a 30 per cent stake in Corporate Commercial Bank

New international law firm announced

Will have more than 1,400 lawyers and legal professionals operating from 18 locations across Canada, the UK, Europe, Asia and the Middle East.

Clifford Chance advises on SBG's sukuk re-financing

Leading law firm Clifford Chance advised on Saudi Binladin Group’s sukuk re-financing of one of the phases of the on-going construction and development of the King Abdulaziz International Airport in Jeddah, Saudi Arabia.

Cases at DIFC Courts surge on growing reputation for legal excellence at home and abroad

Value of cases in H1 2015 rose 447% with small claims up by 134% Surge reflects increasing confidence in DIFC Courts and Dubai as a centre of legal excellence

CI affirms ratings of Arab National Bank

Capital Intelligence has announced that it has affirmed the ratings of Arab National Bank, based in Riyadh, Saudi Arabia. The Financial Strength Rating is affirmed at ‘A+’, supported by its strong asset quality, continued growth in customer

WB urges GCC states to improve quality of financial intermediation

The World Bank suggests that improving the quality of financial intermediation in GCC economies is a balancing act between enhancing access and preserving stability.

PEP soars at King & Wood Mallesons EUME

Profit per equity partner soared 39% to £610,000 on income up 7% to £191m in 2014/15.

Egypt's currency devalued in attempt to encourage investment

The Central Bank hopes a devaluing of the currency will boost exports and attract investment, but Egyptians are braced for high inflation

Two executives at Qatar-backed Uber arrested in France

The probe focuses on one of the company's several local transport options known as UberPOP

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