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

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

Dubai’s Mashreq in settlement talks with ING over investment ‘trickery’

Dubai’s Mashreq has agreed to settlement discussions in a lawsuit that it brought against ING Group in a New York court.

UAE banks are immune to real estate crisis: Sultan bin Nassir Al Suwaidi

Governor says rules on new capital requirements for banks to be enforced in Q1

Global law firm launches new association in the Kingdom of Saudi Arabia

The new Riyadh office opened for business on 27 January 2014

King & Wood Mallesons SJ Berwin appoints ME Real Estate group head

He also advises clients in relation to the real estate aspects of property finance and corporate finance transactions

Taylor Wessing acts for AJIB in connection with HSBC acquisition

Taylor Wessing acted for Arab Jordan Investment Bank on its exchange of contracts on 20 January 2014 with HSBC Bank Middle East to acquire HSBC’s business and assets in Jordan.

Turkey hopes judicial crisis will not cause EU friction

Turkey voiced hope on Monday that controversial judicial reforms would not provoke a major crisis with the European Union.

Dubai Regulator Strengthens Links With Hong Kong and Asia

The forum was attended by 2,400 delegates from Asia, Europe and America, where finance ministers, central bankers, heads of governments and business leaders gathered to discuss economic developments and business trends in China and the rest of Asia.

Saudi, UAE move to combat counterfeits

Directors general of customs departments in Saudi Arabia and the UAE discussed ways to enhance cooperation and reach a joint mechanism to facilitate trade

Abu Dhabi Bank Tries To Revive $40M Credit Suisse Row

Abu Dhabi Commercial Bank PJSC urged a New York appellate court to revive its suit claiming Credit Suisse Group AG oversold the potential restructuring benefits of a troubled $40 million investment

King & Wood Mallesons announce new practice management lineup

King & Wood Mallesons has announced the appointment of Craig Pollack as the new global co-ordinator for dispute resolution/litigation.

QFC Authority introduces amended regulations

Insolvency Regulations deal with debtors who are unable to pay their debts or find that their liabilities exceed their assets

Strategic Acquisition Financing in the ME

Kerri Lefebvre of Conyers Dill & Pearman explores why using a British Virgin Islands company for acquisitions and acquisition financing in the Gulf Region is a popular choice for local corporate groups, international banks and other financial institut

50 Percent Of Executives Surveyed Say Companies Have Limited Or No Protocols For Cross Border Investigations - KPMG

This revelation comes at a time when data and employee privacy issues, often triggered by investigations, are dominating the headlines and major corporations are facing increased regulatory scrutiny around anti-bribery and corruption legislation

Clifford Chance launches mixed Saudi Arabia partnership

English-qualified banking lawyer Tim Plews and corporate and capital markets lawyer Omar Rashid are also joining the team as well as banking lawyer Paul Latto.

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