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

Israeli banks demanding to see U.S. citizens' tax returns

Those who refuse to do so risk having their applications denied

Barclays faces further regulatory scrutiny as it braces for US fine

Barclays reports third-quarter loss as US authorities mull fine over energy trading and Middle East fundraising faces scrutiny

State prosecutor indicts former Hapoalim chairman

He has been indicted for aggravated fraud, fraud and breach of trust, money laundering, and harming the proper management of a bank.

A&O and Bakers steer $1bn Turkish bond issue following Istanbul launches

Allen & Overy (A&O) and Baker & McKenzie have won roles advising on a major bond

GFH faces scrutiny over Shari’ah compliance of Leeds United bid

Gulf Finance House (GFH) may be forced to seal off pubs, restaurants and betting points at the Leeds United Football Club's stadium to allow the proposed acquisition to go ahead.

KPMG named ‘Most outstanding Islamic advisory firm’

‘KPMG is committed to the growth and development of Islamic Finance in Oman said Khalid Ansari, Partner Advisory Services.

Shearman & Sterling Honored at IFLR's 2012 Middle East Awards

Shearman & Sterling was a big winner at International Financial Law Review's 2012 Middle East Awards in Dubai.

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.

Legal, Tax, Regulation & Compliance