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

Simmons’ alliance partner expands in Saudi

Simmons & Simmons Middle East chief Andrew Wingfield highlighted Saudi’s strategic importance as a G20 member and the largest economy in the Gulf Cooperation Council.

Clifford Chance launches Dubai-based training contract

The firm’s first intake of three trainees has already been recruited to start in August

Gulf Finance House responds to press coverage of dispute verdict

Gulf Finance House issued a statement to the Bahrain Bourse responding to local coverage regarding the verdict announced by Bahrain Chamber for Disputes Resolution (BCDR) against the bank and its former chairman, Essam Janahi to the benefit of Tanmiyat.

UK's SFO says Bruce Hall sentenced to 16 months in prison

Bruce Hall was today sentenced to 16 months in prison for conspiracy to corrupt, in relation to contracts for supply of goods and services to a Bahraini company, Aluminium Bahrain BSC

Former banker now a legal eagle in Dubai

The chief executive of Abdulhakim Binherz Advocates and Legal Consultants, which is based in Deira, Dubai, previously led the merger of Emirates Bank and NBD in his role as the general counsel at the bank.

Heaven’s Bankers: Inside the Hidden World of Islamic Finance

Is sharia-compliant banking just a way of twisting the rules?

CFA Institute recommends greater transparency in bank financial reporting

The CFA study has observed that banks are opaque to many external stakeholders, including the investors upon whom they rely for both equity and debt capital, and the financial crisis presented a clear opportunity for enhancing bank transparency.

Al Anwar Wins Legal Case Against Bahrain Bank

Al Anwar Holding Co has won a long-drawn legal case with Bahrain-based Addax Bank regarding investments made in the bank.

Regulators take aim at murky UAE markets after Arabtec debacle

Fifty billion dollars may be enough to trigger major changes to regulation of the Arab world's second biggest stock market.

Takaful: Specific regulations to improve insurance penetration

Takaful is experiencing rapid growth in the GCC and some regulators have recently responded by proposing a host of new takaful-specific regulations that are expected to boost the market access of these companies.

UAE market regulator shakes up brokerages with new rules

The stock market regulator yesterday approved new rules that will shake up the UAE’s brokerage sector, opening the industry up to greater international competition and tightening oversight on lending to clients.

Debt trap in UAE: to repay or to run away?

Legal experts caution debt-ridden expats against taking the easy way out as the long arm of the law can catch up sooner than later

SCA sets up body for tighter supervision

The economic regulators reviewed the performance of the stock markets in light of Arabtec’s share-price plunge, which had its negative impact on the overall market.

Kuwaiti bank gets approval to raise up to $425m via bonds

Commercial Bank of Kuwait has received regulatory approval to issue up to 120 million dinars ($425.8 million) of bonds

Bird & Bird forms cooperation agreement with leading Turkish technology law firm BTS & Partners

The move follows significant client demand for legal services in the region, particularly in the technology and media sectors, where BTS & Partners is an acknowledged market leader.

Mashreq becomes First Bank in UAE to receive Accreditation from Institute of Internal Auditors, USA

This is a ground breaking milestone for Mashreq

Dubai's GFH Capital defends action against ex-Leeds Utd chief

GFHC’s senior executive officer, said it also had no control over criminal proceedings, but backed the Dubai justice system, which under UAE law can keep somebody in custody without charge.

Baker & McKenzie Habib Al Mulla expands UAE presence with DIFC office

Leading law firm Baker & McKenzie Habib Al Mulla has expanded its UAE presence with the opening of an office in the Dubai International Financial Centre on 1 July 2014

Conyers’ Dennis Ryan promoted to head of corporate services in Dubai

He will hold this position in addition to his role as counsel.

King & Spalding advises Kuveyt Turk on $500 million Senior Unsecured Certificates

King & Spalding advised Kuveyt Turk Katilim Bankasi A.S. (Kuveyt Turk), one of the leading Turkish participation banks, on the issuance of $500 million senior unsecured certificates due 2019

Legal, Tax, Regulation & Compliance