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

Obama administration asks top court to turn away Arab Bank case

Arab Bank said the judge’s ruling was forcing it to choose between running afoul of the U.S. court and violating bank secrecy laws in Lebanon, Jordan and other countries.

Former GFH Capital Deputy CEO arrested for fraud, embezzlement

GFH Capital said Dubai Police's investigations are ongoing, adding that it was "not appropriate" to comment in any detail on their inquiries at the moment.

Ex-Barclays chiefs face Serious Fraud Office probe over Qatari fundraising

Barclays’ fundraising meant it was able to escape a government bailout during the financial crisis.

Former Islamic bank GC arrested in Dubai over Leeds United sale allegations

GFH bought the football club from former owner Ken Bates in December 2012

UAE Seen Allowing Full Short Selling Of Stocks As Money Flows In

The UAE's market regulator, the Securities and Commodities Authority, has been liberalising securities rules since 2012

Bahrain central bank finalising rules for Islamic advisory firms

Bahrain's central bank is finalising rules for the supervision of sharia-compliant advisory firms, part of a wider overhaul of standards as the Gulf state steps up its efforts in Islamic finance.

Surat diamond Hawala case: Enforcement Directorate to send LRs to Middle-East, Hong Kong

The agency has detected some funds which have been sent through illegal banking channels to Hong Kong and China and legal replies from these countries would b.e obtained to take the probe further

Gulf, Sudanese banks to resume dealings—official

National Bank of Abu Dhabi only Gulf bank still transferring funds into and out of Sudan, says Arab League Economic Affairs unit secretary-general

Qatar eyes deposit insurance as part of financial reforms

The scheme is part of a strategic plan for Qatar's financial sector developed by the country's three regulatory bodies, which they aim to implement by the year 2016.

Qatar's financial regulator bans, fines senior JP Morgan exec

A senior JP Morgan executive has been fined $20,000 and banned from being employed by any company operating in the Qatar Financial Centre over acts of "serious misconduct".

UK fraud office steps up probe into Barclays over Qatar: FT

The UK fraud office stepped up its probe into British bank Barclays Plc's dealings with Qatar, the Financial Times reported on Sunday. Officials at Barclays were not immediately available for comment Sunday afternoon. Bob Diamond and John Varley, b

Bahrain: New $1.9bn claim in bank collapse

Administrators of a collapsed Bahraini bank have filed a $1.9 billion lawsuit against a Saudi conglomerate caught up in a global fight over massive debts.

Bahrain's GFH appeals Kuwait market regulator monitoring

Kuwait's regulator noticed GFH stock traded in high volumes in May 2013, the Islamic investment firm said in a statement late on Wednesday. The company's shares are listed in both Bahrain and Kuwait.

King & Spalding Recruits Finance Lawyeri to Its Saudi Practice

Al-Farisi is rejoining King & Spalding from Confluent Law Group, an Iraqi legal consultancy, where he was a managing partner.

UAE strengthens enforcement against money laundering

The UAE has taken steps to clear up concerns about money laundering in the region with new rules clamping down on illicit financial flows.

Ex-Mizrahi Banker Said to Be Indicted in U.S. Tax Fraud Case

Baravarian of Beverly Hills, California, was an employee of the Israeli bank

UAE regulator cuts minimum sukuk size, eases securities borrowing

UAE equity markets are expected to see more participation by foreign investors

Banks affirm support for Credit Bureau after deadline

All UAE banks have affirmed their support to the launch of Al Etihad Credit Bureau as the deadline to submit data by banks to the bureau expires today, the UAE Banks Federation said on Wednesday.

UAE Central Bank inks MoU with Abu Dhabi Global Market

This MoU also touches upon cooperation in training and developing of performance of staff

Middle East Urged To Do More To Fight Financial Crime

The Middle East needs to do more to reduce its vulnerability to financial crime by implementing tougher anti-money laundering regulation.

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