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

Gold flat ahead of inflation with more big rate hikes looming

Bullion has mainly fluctuated between $1,700 an ounce and $1,720 in September after several months of declines

UAE Cabinet approves new law on public-private partnership

Licencing of the first electric cargo aircraft in the region also gets go-ahead

UAE among top 10 in 432 global indicators: Federal Competitiveness and Statistics Centre

FCSC said that according to the IMD's WCY, the UAE ranks 12th globally, with a score of 88.67 (out of 100) and is leading the MENA region

Top UAE lawyer Habib Al Mulla parts ways with Baker Mackenzie

Decision was after remarks made by the prominent lawyer on Twitter

Dubai: Number of new businesses in DIFC up 22% in June

FinTech, innovation firms post 23% growth

Saudi Export-Import Bank signs MoU with BOK International Bank (Bahrain)

The signing of the MoU with BOK International Bank (Bahrain branch), comes in line with EXIM Bank’s continuous efforts to increase support for the export of Saudi non-oil services and products, and to enhance cross-border trade: official

Abu Dhabi Development Fund financed projects worth $202m in 2021

Government entity's finances, investments and bank deposits stood at $42.7bn as of December

QFMA issues covered short selling rules, securities lending, borrowing rules

The importance of the new rules is that they add new financial services activities aimed at increasing the volume of activities

Saudi Fund for Development finances $18.4bn worth of projects in developing countries

The Federation of Saudi Chambers joined hands with the development fund to promote the use of local resources in the procurement of projects and capitalize on ways to maximize benefits to the Kingdom’s business sector.

Saudi Arabia to highlight sustainability successes during G20 Development Ministerial Meeting

They will also review the progress that has been made on plans and commitments agreed during the first Development Ministerial Meeting in Matera, Italy, last year.

Central bank demand for gold remained robust in July, World Gold Council says

Qatar Central Bank was largest buyer of bullion, adding 15 tonnes of gold to its official reserves in July

Saudi Industrial Development Fund approves $20bn loans since Vision 2030 launch

The new figures come as the Saudi Deputy Minister of Industry and Mineral Resources announced the imminent launch of the National Industrial Strategy, according to Arabic news outlet Asharq Alawsat.

QNB Group announced as Official Partner for Lusail Super Cup

“We are delighted to welcome QNB Group as an Official Partner for the Lusail Super Cup. QNB continues to be a major supporter of sporting events in Qatar as the country builds up to the FIFA World Cup in just a few months’ time.”

KIPCO shareholders approve company’s merger with QPIC

‘This transformative transaction will make combined entity one of the largest public investment holdings in the MENA region’ says company’s Group CEO

AGDM regulator fines five financial institutions for breaching reporting requirements

The penalties and administrative fees range from $8,169 to $32,403

Egypt issues first Islamic micro-financing license

On Monday, Egypt’s Finance Minister Mohamed Maait said that the government plans to issue Islamic sukuk between $1.5 billion and $2 billion once the effects of the war in Ukraine on global markets ease.

Qatar central bank grants first digital payments license

QNB’s open banking platform builds on earlier work with Ooredoo which allowed Ooredoo wallet holders to access banking facilities such as virtual IBAN, virtual MasterCard, payroll solutions and remittances.

QFC authority and UBS Asset management to collaborate

On innovative sustainable private markets initiative

UAE central bank launches digital portal amid effort to be ‘among top central banks globally’

Website visitors will be able to access various digital services, such as the purchase of commemorative coins, museum visit bookings, along with other interactive platforms

Arab countries’ deposits at Central Bank of Egypt hit $13bln end-March

UAE and Saudi Arabia deposited $5bln each, while Qatar placed $3bln

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