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

Court backs payment to AHAB

The order follows an interim ruling last month by the same court, which held that AHAB would be entitled to recover at least $2.5bn from Mr Al Sanea.

Turkish banks' capital ratios will drop because of the country's switch to Basel II

Basel I favoured Turkey. As a member of the OECD, Turkish sovereign and bank exposures attracted lower capital charges.

32 ADX listed companies disclose financial statements for the Q2 2012

The companies that disclosed their financial statements did so within the first 31 days of the 45 day deadline. Companies whose securities are listed on the exchange are required to provide ADX with Interim financial reports which are reviewed by the exte

Iran sentences four to death over banking scandal

The embezzlement case, discovered in September 2011, revolved around forged documents allegedly used by the directors of an Iranian investment company to secure loans totaling $2.6 billion to buy state-owned enterprises.

Latham and Watkins advises joint lead managers in the largest USD Sukuk offering

Latham & Watkins represented the joint lead managers in the State of Qatar's recent sovereign Sukuk.

Global Investment Management Industry Continues To Face A Regulatory Avalanche Of Disparate Rules: KPMG Report

Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up.

Barclays to leave UAE rate panel in 90 days - sources

The British-based lender had previously indicated to the UAE central bank that it wanted to quit the 12-member panel, whose quotes are used to set the Emirates interbank offered rate (Eibor).

‘HSBC report pushes West to rethink alliance with Saudi Arabia’

Middle East expert Ali Rizk told RT that the findings put pressure on the West to reconsider its friendly relations with Saudi Arabia.

UAE Bank Law Frustrates Expat Women

A spokesperson for the bank told reporters that, because the UAE is a Muslim country, it is the father who must open bank accounts for his children.

UAE banks to complete due diligence on accounts of Syrians

Banks and financial institutions operating in the UAE will do a full due dilgence by Sunday in compliance with a central bank circular

Emiratis want crackdown on women's skimpy dress

But it wasn't until the 23-year-old marketing worker came face to face with two scantily-clad female foreigners at one of the many luxury shopping malls in the United Arab Emirates that she decided to take action.

Financial fraud: When gatekeepers see no evil, hear no evil and speak no evil

Media’s ‘bad apple’ theory no longer works

Syrian funds come under UAE scanner

The Central Bank of the UAE gave the banks and financial institutions three days to submit details of any financial assets, transactions made by the Syrian ruling elite.

The Kingdom of Saudi Arabia issues new finance laws

The Minister of Finance has also announced that the implementing regulations of the Finance Laws (which is likely to refer to the Finance Lease Law, the Real Estate Finance Law and the Law on Supervision of Finance Companies) are to be drafted by the Saud

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