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

Tax havens and tax hells

KPMG's latest Individual Income Tax and Social Security Rate Survey covers 114 countries and finds 10 countries that charge no personal income tax at all.

Israel Securities Authority joins IOSCO European Regional Committee

Securities Authority chairman Prof. Shmuel Hauser: This decision follows IMF and OECD recognition of the quality of Israeli regulation.

DIFC Courts wins UAE Customer Service Award

"We are thrilled to be recognised, once again, for our efforts in customer service. We are also very proud of the hard work that Rita and all members of our registry team deliver on a daily basis. "

Arab banks mull repercussions of US FATCA law

The Union of Arab Banks and the World Union of Arab Bankers organized Wednesday here a seminar on the impacts of the US adoption of the Foreign Account Tax Compliance Act (FATCA).

National Bank of Fujairah replaces Barclays on Eibor panel

The Dubai-based lender was selected to join the EIBOR

FATCA Seen To Impact All Financial Firms In Kuwait

Cost Of Non-Cooperation Could Be Significant

UAE has tightest bank rules in GCC

Report sees gradual recovery in credit by regional banks

Abu Dhabi bank sues Dubai crown prince's firm

Abu Dhabi Commercial Bank (ADCB) filed the case on Sept. 19, claiming $107.13 million from Zabeel, owned by the crown prince of Dubai, saying it failed to meet repayment obligations.

Ex-Bahrain bank CEO jailed for five years

The bank said in a statement that Al-Refai was found guilty of money laundering, fraud, illegally soliciting donations without prior licensing from Bahraini authorities and transferring the funds to his personal account.

Mashreq clear to pursue case

Mashreq, the UAE bank caught up in the affair, will also get its chance to press for the repayment of cash it has claimed from the Al Gosaibis.

I’ll See You in Court…in Dubai

“It’s pointless going to England if you want to enforce in Dubai.”

Latham and Watkins partner named to prestigious board position at World Bank

A strong Riyadh office is important to the strategic growth of our global practice.

DFSA sanctions Credit Europe Bank

The EUs result from a DFSA investigation into trading conducted by the former Head of Treasury, on behalf of CEBD.

NBQ wins appeal against Global Investment House

The Court of Cassation overturned the appealed judgment and referred the lawsuit to the Court of Appeal which will have a new panel. The Appellee was ordered to pay court expenses and Dh1,000 attorneys’ fees.

DIFC regulator accuses Arqaam, Ernst & Young of accounting violations

The regulator of Dubai’s international financial centre is accusing Ernst & Young and the Dubai-based investment bank Arqaam Capital of accounting irregularities and breaches of its rules in relation to the way Arqaam allegedly overstated its 20

Deloitte announces revenue results of US$31.3 billion

Deloitte Touche Tohmatsu today announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever.

Islamic banking regulation expected at any time: CBO

The much-awaited regulation for Islamic banks and window operations of conventional banks will be announced through a Royal Decree at any time.

Hamas financing case can proceed against Arab Bank: judge

Arab Bank denied the claims, saying that Gill was caught in the crossfire between two military forces and that Gill had failed to show Arab Bank's liability for the shooting.

Global law firm adds Dubai finance partner

She advises on a variety of structured credit and debt capital markets products, as well as bank lending, regulatory, derivatives, and Islamic finance matters.

RBS, others sue Dubai Group over $10 billion debt

Royal Bank of Scotland and two other banks have begun legal proceedings against an investment vehicle owned by Dubai's ruler, seeking immediate repayment after abandoning talks to restructure $10 billion in debts.

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