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

Compliance With FATCA ‘Inevitable,’ Says Withers

As a result, every US passport holder living in Kuwait is now responsible to pay taxes to the IRS

Premier client’s personal adviser loses appeal in embezzlement case

The Dubai Appeal Court rejected M.H.’s appeal and upheld the five-year imprisonment against him.

Israel arrested UBS adviser, 13 others, in tax evasion investigation

Israel arrested 14 people, including a senior UBS investment adviser, as part of an investigation into Israelis allegedly holding undisclosed bank accounts with UBS worth hundreds of millions of euros

U.S. probing Standard Chartered over Dubai banking -sources

U.S. authorities are investigating London-based Standard Chartered Plc for potential U.S. sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe.

Leading UAE law firm Appoints Chief Operating Officer

He has over 20 years' experience in senior management and leadership roles and most recentlyjoins from Simmons & Simmons Middle East LLP, where he was Chief Operating Officer for the firm in the region.

DED brings out handbook on managing government finances

The Internal Audit sector in the Department of Economic Development ( DED ) has issued a Government Employee Handbook on the specific mechanism ways of managing finances within any government institution.

Banker Beats Israeli Account Tax Fraud Charges At Trial

The acquittal was a setback in the seven-year, U.S. campaign to curtail offshore tax evasion.

Ex-Mizrahi Octogenarian Banker Acquitted at Tax Trial

Six taxpayers testified as government witnesses

Saudi Sheikh launches $10bn lawsuit against Barclays over banking licence fraud

Claims Barclays 'hatched a fraudulent' scheme

Dubai court orders Swiss Private Bank to pay $10.45 mln to members of Kuwait's wealthy Khorafi family

A judgement accompanying the award said that the defendants falsified accounts.

Kuwait’s Burgan Bank Gets Regulator Approval For $74.8m Rights Issue

Burgan Bank, Kuwait’s third-largest lender by assets, has received regulatory approval to launch a KD21.6 million rights issue by the end of 2014, it said in a bourse filing on Thursday.

Compliance with U.S. regulations seen as existential issue

Complying with evolving U.S. economic sanctions and anti-money laundering regulations is an existential issue for Lebanese and Arab banks, bankers and legal experts said Tuesday at the 2014 annual forum for the heads of compliance units at Arab banks and

ICAEW: GCC companies must prepare for introduction of new financial reporting standards

The release of this standard was swiftly followed in July by the publication of a final and complete version of IFRS 9

Deloitte named a leader in Global Risk Management Consulting services by Gartner

Cyber Risk Services and Crisis Management round out broad portfolio Deloitte considers cyber risk services to rank among its most important offerings in the marketplace.

Bitcoin future in UAE uncertain due to lack of regulation

Efforts to promote the use of Bitcoin in the UAE have stalled amid uncertainty over how it is regulated here and in the wider region.

UAE Central Bank signs MoU with National Bank of Kazakhstan

The agreement puts in place a mechanism for cooperation between the two banks on regulatory matters

Leading Omani Law Firm triumphs at IFLR Middle East Awards 2014

The firm scooped the 'Equity Team of the year' award in the face of strong competition from UAE-based legal powerhouses, Clifford Chance, Linklaters, and Latham and Watkins.

Abu Dhabi Global Market recognises regulatory soul mate in Singapore

But one centre has appealed to ADGM more than the others: Singapore

Abu Dhabi Global Market recognises regulatory soul mate in Singapore

The UAE currently has four, including the Central Bank and Insurance Authority, in addition to the federal Securities and Exchange Authority and the Dubai International Financial Services Authority.

Turkey's Banking Code To Change, Regulatory Powers To Expand

A Parliamentary bill regarding the country’s banking law was submitted to the Turkish Parliament yesterday

Legal, Tax, Regulation & Compliance