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

BB fears rise in inflation due to pay-hike

The central bank has expressed the fear that the proposed pay-hike for public servants might trigger inflationary pressure on the economy in the year 2015

Alizz islamic bank opens new branch in Sohar

alizz islamic bank, Oman's full-fledged Sharia-compliant bank has opened a new branch in Sohar to reach out to more clients

Israel's Bank Leumi gave the U.S. data on former customers

Leumi also agreed to pay $400 million to settle two separate investigations into whether it helped its American clients evade U.S. taxes.

US Court Directs Bank Creditors To File Claims

A US court has directed the "reorganised Arcapita Bank BSC" to initiate transfer of claims by eligible holders.

Turkey’s regulator puts Adabank up for auction again

Turkey’s Savings Deposit Insurance Fund will auction off Adabank on Feb. 4, 2015 after previous auctions did not yield results, as was announced in the Official Gazette Dec. 25.

Al Baraka Bank complies with Basel III requirement

The three prominent Islamic banks, Islamic International Arab Bank, Al Baraka Banking Group, and Bank of Khartoum, showed that they currently have sufficient levels of capital, far beyond what is required under Basel III.

VP: financial sector spurs progress

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE’s Vice President and Prime Minister and Ruler of Dubai, has emphasised that the UAE’s financial plans and monetary policies are part of an all-encompassing national economic vision that i

Islamic banking in Oman likely to grow at double-digit rate

Muscat - Islamic banking in Oman is expected to grow at double-digit rates as Sharia-compliant banking products increasingly gain acceptance and the government's plans to ease restrictions come to fruition.

Serbia's central bank issues licence to UAE's Mirabank

Serbia's central bank has issued an operating licence to Mirabank, a unit of the United Arab Emirates-based Royal Group conglomerate, the central bank said in a statement on Tuesday.

Former British Regulator Sants To Advise Abu Dhabi Financial Zone

Hector Sants will advise the Abu Dhabi Global Market (ADGM) on the creation of its regulatory framework and its strategy.

Do panic moves by central banks ever work?

A surprise interest rate hike by the Russian central bank late Monday night left analysts debating whether such "panicked" moves by officials have any genuine impact.

The important role of sukuk in the Basel III era

The implementation of Basel III rules has created several challenges to Islamic financial institutions (IFIs) especially with regards to capital adequacy and liquidity requirements

DIFC Authority announces enactment of DIFC netting law

Dubai International Financial Centre (DIFC) Authority announced today that His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has enacted the Netting Law, DIFC Law No. 2 of 2014.

GCC business houses need to integrate new accounting standards at an early stage: EY

The new standard is compulsory for banks and other organisations reporting under IFRS for annual periods beginning on or after January 1, 2018.

Galadari announces regional expansion with the opening of their DIFC office

The new office will be led by Managing Partner, Abdulla Galadari

Abu Dhabi Global Market forms panel of 16 financial institutions

Abu Dhabi Global Market today announced that its Pre-Open Market Consultation is underway and that ADGM has formed an expert panel of 16 international financial institutions to support the development of the draft regulatory framework

Abu Dhabi Financial Zone Prepares To Receive Licence Applications

Abu Dhabi’s new financial free zone is preparing to receive next year its first licence applications from firms seeking to operate there, after appointing a panel of 16 institutions to advise on its regulatory framework

DIFC hosts Hong Kong delegation

The Dubai Financial Services Authority has hosted a delegation of government, financial and business leaders from Hong Kong.

Malaysia forecast to have more billionaires than UAE in 2018

Malaysia is forecast to have more billionaires in 2018 at 20 than the United Arab Emirates with 19, according to a new white paper from the London-based WealthInsight Intelligence Center.

UAE's Bank of Sharjah plans to refinance $200 mln loan in Q1 2015

Bank of Sharjah plans to refinance a $200 million two-year loan maturing next year, said the lender's executive director, as the United Arab Emirates bank hopes to benefit from lower borrowing costs.

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