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

Dentons advise DAMAC on inaugural debt issuance

Dentons capital markets partner, Alex Roussos, commented: "We are very proud to have advised Damac on its inaugural debt issuance.

Commercial Bank gets nod to increase FOL to 25%

The increased FOL became effective from yesterday. Commercial bank has 296.94mn total subscribed shares, of which free float constitute 81% or 240.77mn shares.

Thirty wealthy Gulf investors sign up for $1.3m EU passport scheme

Around 30 wealthy Gulf residents have expressed their interest in signing up for a controversial Maltese scheme offering European citizenship in return for investment of about $1.3m, with seven applications already submitted to Maltese officials for appro

International law firm Hires Leading Saudi Arabian Finance Lawyer

He has advised on the majority of the project financing arrangements for Saudi Arabia

Group is seeking debt deal

Thirteen former bank officials are currently standing trial in Bahrain's High Criminal Court on charges of corruption.

Leading international offshore law firm hires lawyer specialising in advising Middle Eastern clients

He worked previously for Pinsent Masons (2011-2014) and Boodle Hatfield (2008-2011) in London.

UAE money launderers face 10 years jail and Dh500,000 fine

UAE steps up fight against financial criminals

Bank manager in Dubai convicted of Dh1 million cheque scam

A financial manager who embezzled more than Dh1 million from the bank where he worked and then fled the country was on Sunday sentenced to five years in jail.

Saudi group offers new settlement

In 2009, AHAB’s Bahrain unit, the International Banking Corp. and Awal Bank collapsed

Libya Fund Accuses French bank of Fraud

French bank paid a middleman $58 million in alleged bribes to secure almost $2 billion in business from Libya's main sovereign-wealth fund during the final years of dictator Moammar Gadhafi's rule

Saudi Arabia's Algosaibi calls May creditor meeting

Saudi Arabian conglomerate Ahmad Hamad Algosaibi & Brothers has called a meeting of creditor banks in Dubai on May 7 to discuss a proposed settlement of billions of dollars of unpaid debt

Burgan Bank to raise capital this year

Kuwait’s Burgan Bank wants to raise more capital this year to comply with the Basel III banking industry regulations while any acquisitions were unlikely to come soon, the lender’s chief executive said yesterday.

Lebanon lifts banking secrecy 17 times in 2013

The Lebanese financial authorities lifted banking secrecy rules on 17 bank accounts suspected of involvement in money laundering, embezzlement and terrorist funding in 2013, the Central Bank’s Special Investigation Commission reported Thursday.

Clifford Chance names banking partner as new Middle East head

Clifford chance has named banking and finance partner as new Middle East managing partner to replace current head Graham Lovett.

RBS reprimanded by Qatar regulatory authority

The Royal Bank of Scotland has been reprimanded by one of the main financial regulators in Qatar for failing to comply with training and competency requirements.

Region needs pre-emptive action against Bitcoin

It was not so long ago that we were warned of the risk of dealing in the digital currency of Bitcoin.

Norton Rose Fulbright appoints new debt capital markets partner

I am looking forward to returning to the Middle East to continue to develop Norton Rose Fulbright’s conventional

Kuwait lets foreign banks open more branches to fuel growth

Kuwait will let foreign banks open multiple branches in the country to spur growth.

Qatar Regulator Reprimands RBS For Insufficient Staff Training

Qatar’s financial regulator has reprimanded Royal Bank of Scotland for insufficient training of its branch staff, it said on Tuesday.

QFB awaits regulatory nod for listing

The Qatar First Bank yesterday announced that it will go for listing on the Qatari bourse once it gets the regulatory approval.

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