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

CBE governor briefs Sisi on efforts to secure hard currency, fight black market

The procedures taken by the central bank regarding the exchange rate increased dollar supply at banks

Herbert Smith Freehills Latest Big Firm to Close Mideast Outpost

Herbert Smith Freehills is poised to become the latest Global 100 firm to consolidate its operations in the Middle East, announcing plans to shutter its Abu Dhabi office.

HFW advises Stanford Marine on AED1.2 billion refinancing

HFW's Middle East finance team, led by Partner Ian Chung, has advised Stanford Marine Group on a AED1.2 billion (US$326.7 million) sharia-compliant loan for the purposes of consolidating existing deb

Dentons advises Bank Sohar and QNB on Dalma's US$77.5 million syndicated loan

Dentons advised Bank Sohar as agent bank on a US$77.5 million syndicated facility to Dalma Energy International

Alleged Hezbollah-linked banker may relinquish post to son

This accusation prompted the bank’s management to sell all its assets to SGBL.

HSBC gets license to buy Saudi stocks directly

HSBC Holdings has received a qualified foreign investor license in Saudi Arabia and traded shares on the bourse on Monday, the first day that direct foreign investment was allowed, the bank told Reuters.

ATM fraud alert sounded out

The Saudi Arabian Monetary Agency, the Kingdom’s central bank, has warned commercial banks to improve their systems and customers to be wary, after a gang was found stealing money from ATMs in Riyadh using sophisticated card readers and cameras.

Bonds and sukuk issuances under the new UAE Commercial Companies Law

The long anticipated UAE Federal Commercial Companies Law no. 2 of 2015 (the “New Companies Law”) was issued on 25 March 2015 and will be in force by 1 July 2015

Abu Dhabi’s financial hub to accept tenants from today

This is the first phase in a series of activities as ADGM looks to ramp up its efforts in preparation for launch in the second half of this year.

Kafa’a seeking to enhance financial sector standards

The Qatar Finance and Business Academy has launched the Kafa’a initiative to elevate and advance Qatar’s financial services sector.

Saudi billionaire facing expensive UK divorce

A Saudi billionaire is facing what could be one of the UK’s most expensive divorce claims.

UK judge dismisses claim by jailed former Leeds Utd boss against GFH exes

An application lodged by David Haigh to have two senior executives of Dubai's GFH Capital arrested has been dismissed by a UK court.

Clifford Chance advising Citi on the sale of its consumer banking business in Egypt

Clifford Chance is advising Citi on the sale of its consumer banking business in Egypt.

Abu Dhabi ruler issues law to regulate property market

Abu Dhabi's ruler has issued a decree to regulate and improve transparency in the emirate's real estate sector, requiring brokers and developers to be licensed and introducing rules to protect buyers of projects that are not yet completed.

Kentaro raided in probe into Brazil vs Argentina friendly in Qatar

On Wednesday, November 17, 2010 Doha's Khalifa International stadium was the scene of a prestigious friendly between South American titans Brazil and Argentina.

Russia, Qatar could lose World Cups: FIFA official

Russia and Qatar could lose the right to host the 2018 and 2022 FIFA World Cups if evidence is found of corruption in the bidding process, a FIFA official was quoted as saying on Sunday.

Amended law means more central bank responsibilities

International bodies such as the International Monetary Fund have recommended independence for the central bank.

Lebanon's C.bank governor says hopes govt can issue more dollar debt this year

Lebanon's central bank governor said he hoped the country would be able to issue more dollar-denominated debt this year and that the government should not rely on the central bank's foreign reserves to repay debt.

UAE may give Central Bank role in setting monetary policy

The governor of the Central Bank says the Government is working to allow the lender of last resort to control monetary policy independent of the state.

ASAR - Al Ruwayeh & Partners highlights important issues relating to arbitration and PPP projects in Kuwait

Kuwait's leading tier one law firm hosts the Kuwait Chapter of the Association of Corporate Counsel Middle East

Legal, Tax, Regulation & Compliance