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

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.

UAE c.bank studying new rules for bank lending against shares

The United Arab Emirates central bank is looking at proposals for new rules covering bank loans against shares

Basel III standards are probed

Bahrain-based General Council for Islamic Banks and Financial Institutions, a global umbrella organisation for Islamic financial institutions, held an in-focus session on Basel III and Islamic banks during the 21st World Islamic Banking Conference

Eversheds scoops double award win at the Middle East Solar Industry Association’s Awards 2014

Law firm Eversheds has won Law Firm of Year at the Middle East Solar Industry Association’s annual solar awards presentation.

Shrink to fit - Tackling the new regulatory climate in the UAE

With the Emirates Insurance Authority rolling out a host of regulations last month, it seems inevitable that the market will consolidate dramatically as the smaller players struggle to meet strict new requirements.

Iraq investigates private banks for money laundering

Banks also falsified the documents of the money’s destination

Kuwait's leading corporate law firm acts as Kuwait legal counsel to a consortium of international, regional and Kuwaiti banks associated in KUFPEC's USD 1 billion five-year term loan

The five-year term loan facility was signed to meet KUFPEC 's ambitious general corporate purposes and international expansion plans.

Saudi regulator suspends Deloitte from auditing listed companies

Saudi Arabia’s market regulator has suspended the local unit of accountancy firm Deloitte & Touche from doing auditing work for listed firms in the kingdom from June 1, 2015

Leeds' financial drama takes new twist as David Haigh's lawyers write to Football League chief with information relating to allegations against club's co-owners

The financial drama at Leeds has taken a new twist, with lawyers representing the club’s former managing director, David Haigh, writing to the Football League to say he can provide information relating to serious allegations about the club’s c

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