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

Gulf Arab Rift Has No Effect On Central Bankers Meet

A diplomatic rift between Qatar and three other Gulf Arab countries had no effect on a meeting of Gulf central bank governors today

Sudanese bank says dealings with Saudi Arabia unaffected

The general manager of the Bank of Khartoum Fadi Salim Al- Faqih said that the bank’s dealings with its counterparts in Saudi Arabia are continuing as normal especially with the National Commercial Bank

Law and tax expert opens new office in Oman

They are strategically important areas for our clients

National Bank of Abu Dhabi : UAE central bank chief warning on capital rules

Sultan Al Suwaidi says small businesses are at risk under new global financial regulations

Central Bank chief warns Basel III capital rules could curb SME growth

The Central Bank governor yesterday warned that Basel III banking rules could curb the growth of small and medium-sized business worldwide.

UAE banks want home buyers to disclose source of money used for down payment

The UAE Central Bank issued directives in October 2013 stopping homebuyers from using personal loans or credit cards to meet their down payment requirements.

Egypt lifts ban on brokerage firms trading foreign stocks

Egypt's financial regulator, as part of a broader effort to invigorate the country's financial markets, has lifted a ban on brokerage firms and fund managers trading shares listed overseas.

GCC and Levant banks warned against complacency on capital requirements ahead of Basel III

GCC and Levant banks could face massive capital shortfalls because of tighter capital requirements if they do not manage their books more astutely.

Kuwait fines Ahli Bank chairman $5.3 mln over insider trade

Al Ahli did not give details of the allegations against Behbehani

Kuwait Al Ahli Bank chairman fined $5.3m

A Kuwaiti court has fined the chairman of Al Ahli Bank, the country's eighth largest bank by market capitalisation, 1.5 million dinars over alleged insider trading in the bank's shares.

Sudan says Saudi decision to suspend banking transactions not politically motivated

The Sudanese government has downplayed a decision by banks in Saudi Arabia to stop any dealings with their counterparts in Sudan saying it is not politically motivated.

Global law firm expands corporate offering in UAE

He will be based out of the firm's Abu Dhabi office and joins to expand its corporate and transactional capability in the Gulf and greater Middle East.

Allen & Overy is Best Overall Law Firm in Islamic Finance for the third consecutive year

The firm received a record fifteen awards which beats the previous record of twelve awards that the firm received in 2012.

Global law firm makes two senior appointments in the Middle East

I am proud to announce their appointments and I look forward to continuing working alongside them as Eversheds carves out an even stronger presence across the Middle East."

Prosecutors from UK’s CPS sent to Dubai, Spain to recover criminal assets

The UK’s Crown Prosecution Service is to base two specialist prosecutors in Spain and the United Arab Emirates to recover the assets of British criminals.

Iranian bank sues UK government for $4 billion over sanctions

Iran's largest private bank is suing the British government for almost $4 billion in damages after the Supreme Court quashed sanctions imposed against it over alleged links to Tehran's nuclear program.

Deutsche Bank ordered to hand over client info to Dubai regulator

A Dubai court has ordered the local unit of Deutsche Bank to hand over documents relating to its wealth management clients after the German lender was successfully sued by the regulator of the emirate’s financial free zone.

Banque Saudi Fransi gets nod for bonus share issue

Banque Saudi Fransi, the lender part-owned by Credit Agricole, has received regulatory approval for a 3 billion riyal capital increase through the issuance of bonus shares, it said in a bourse statement on Thursday.

Big money-laundering racket busted in Bahrain

The suspects are all Indians working in one of Bahrain's leading money exchange companies, including six branch managers, said a report in the Gulf Daily News, our sister publication.

SocGen the next target for Libyan Investment Authority

In its legal claim the LIA alleged that Goldman funded luxury trips to Morocco

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