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

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.

BLP opens new office in Dubai

BLP's Dubai office became operational this month and will work closely with the Abu Dhabi office

Ashurst acts for Fajr Capital on acquisition of stake in MENA Infrastructure Fund

The MENA Infrastructure Fund is a $300m Dubai-based specialist asset manager established in 2007 to invest in infrastructure and energy projects in the Middle East and North Africa.

Qatar banks to comply with Basel III by year-end: QCB

Later in June 2011, a revised rule text had been issued taking into consideration the feedback on the original text.

Did Citigroup defraud billions from Abu Dhabi?

Three years later, Abu Dhabi has likely figured out that in the U.S., gangsters have guns but banksters are far more dangerous – they have ivy league educated lawyers.

Hundreds swindled in Dubai property scam

“I’m going to lose my apartment and AED100,000 (US$27,200),” said a British expat who renewed her contract for a property in the Fairways in June but has since been unable to contact the company.

UK fails to freeze Mubarak-era assets

Much of that money was invested overseas in countries friendly to the regime. Countries like Britain.

Foreign banks in Iran face risk of US penalties

The drama played out last month between Standard Chartered and the New York state supervisor who threatened to strip the august British institution of its vital Wall Street banking licence was not entirely typical.

HSBC Investigated for Money Laundering

Furthermore, the investigators were also probing whether HSBC circumvented US law by transferring money through its American subsidiary for sanctioned nations, including Iran, Sudan and North Korea.

US regulations probed at forum

The event was organised by the Bahrain Association of Banks and accountancy practice KPMG Fakhro to update the delegates on the best approach for Bahrain.

Barclays Said to Face Possible U.K. SFO Probe Over Qatar Fees

The Serious Fraud Office, which prosecutes bribery and white collar crime, may inform the London-based bank about its decision on a probe this week, according to the people, who declined to be identified because the discussions are private.

Janata Bank recalls UAE chief

The bank's Dubai branch faces charges of fraud worth $1.3 million; a BB team visits Dubai to further probe the scam

Complaint filed with Israeli Banking Regulation against Bank HaPoalim

The conduct of the US government and Bank HaPoalim in this case is particularly unreasonable, given that the bank in question is located in Jerusalem - Corpus Separatum by international law.

Kuwaiti investment firm targets Carlyle in $25m claim

"NIG argues that the investment contract is void because Carlyle, despite doing business for years in the Middle East, has never had a securities licence in Kuwait," the firm said.

US investigates UniCredit over sanctions ‎

Unicredit has confirmed it is co-operating with a US investigation into a possible breach of sanctions.

Commerzbank admits Iran sanctions investigation

Commerzbank has become the latest bank to admit it faces being fined as part of a US investigation into sanctions busting by international financial institutions.

Iran looks to Armenia to skirt bank sanctions

With international sanctions squeezing Iran, the Islamic Republic is seeking to expand its banking foothold in the Caucasus nation of Armenia to make up for difficulties in countries it used to rely on to do business, according to diplomats and documents

UK's most wanted tax fugitives 'in Dubai'

HM Revenue & Customs published the details of the nineteen men and one woman, all wanted for payments totalling £765m.

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