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

Addleshaw continues management overhaul with Gulf and Asia heads

The management shake-down is a bid to simplify reporting lines devolve power to fewer key members of the firm.

Mena task force lauds Qatar’s measures in anti-money laundering

Qatar’s 2010 Law established a comprehensive framework for AML/CFT supervision and enforcement covering the entire range of business sectors (financial and other) at risk to money laundering and terrorism financing.

Sukuk will feature in liquidity guidance given to Islamic banks -IFSB

Banks across the Gulf have been waiting for regulatory guidance on how debt instruments such as sukuk will be treated under Basel III

Saudis to keep reserve management strategy -c.bank

The country's net foreign assets, swelled by high oil prices, are currently worth about $730 billion, and have been growing at an annual rate of about 9 percent.

Be alert against bank frauds

Fraudulent financial and banking practices are growing worldwide, posing a real threat to electronic financial dealings, said Talaat Hafiz, secretary general of the media and awareness committee for Saudi banks

Ex-official accused of $5 million fraud

GFH Capital, the Dubai-based subsidiary of Bahrain's Gulf Finance House, is in the midst of a legal battle against its former deputy chief executive David Haigh who it accuses of embezzling $5 million from the company, it has been revealed.

Bahrain's GFH loses appeal against Kuwait regulator monitoring

Kuwait's Capital Markets Authority has rejected an appeal by Bahrain-based Gulf Finance House against the regulator's decision to monitor its Kuwait-listed shares, the investment firm said on Monday.

GFH loses appeal against Kuwait regulator monitoring

Kuwait’s Capital Markets Authority has rejected an appeal by Bahrain-based Gulf Finance House against the regulator’s decision to monitor its Kuwait-listed shares

Kuwait government denies corruption allegations

Kuwait's government on Wednesday disputed allegations by the opposition that tens of billions of dollars were stolen from public funds by former senior officials, saying documents supporting the claims are fake.

Dubai Establishes New Dispute Settlement Authority

The new authority is intended as a "one-stop shop" for litigation and arbitration in the region.

Kuwait government disputes corruption claims

Kuwait’s government yesterday disputed allegations by the opposition that tens of billions of dollars were stolen from public funds by former senior officials, saying documents supporting the claims are fake.

Bahrain’s GFH in Legal Spat With ex-Leeds United Director David Haigh

Legal authorities in Dubai are weighing criminal charges,

Financial indicators point to the systemic strength of UAE banks

High level of profitability support strong internal capital generation

UAE And Maldives Sign Customs Cooperation Agreemen

The agreement is also aimed at protecting the society from improper commercial practices, according to Saud Salim Al Akroubi, Head of International Relations at FCA.

UAE banking sector to face stringent capital and liquidity rules

Financial Stability Report hints at regulatory overhaul to align local regulations with international best practice

Barclays' faces a £300m lawsuit from Amanda Staveley over Abu Dhabi deal

The legal action is linked to a Serious Fraud Office investigation into £322million of fees paid by Barclays

UAE central bank warns of soaring property prices

Monitoring development in the UAE real estate markets and the banks’ exposure to it remains a core financial stability priority.

UAE c.bank says to propose new capital, liquidity rules in H2 2014

The central bank of the United Arab Emirates plans to introduce new rules on liquidity and begin consulting with banks on a new capital regime which is in line with the Basel III framework in the second half of 2014, it said on Sunday.

Qatar 2022 bid committee instruct Schillings over World Cup bribery claims

Another of the Qatari bid committee’s legal advisers, magic circle firm Clifford Chance, is not understood to be advising on the recent claims

Bahrain clarifies Basel III capital rules, eyes 2015 rollout

Its rules detail the treatment of subsidiaries when calculating a bank's capital adequacy requirements and explain the use of subordinated debt, which can count towards Tier 1 core or Tier 2 supplementary capital.

Legal, Tax, Regulation & Compliance