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

Managing settlement of construction project claims in Qatar

Achieving amicable settlement of these claims is a top priority for both developers and contractors and will be pivotal to the successful conclusion of projects

Lebanese banks disavow banking group's objection to IMF plan

Their objection to the letter's contents reveals growing fissures in the association, which counts more than 50 banks as members.

IIFM plans to develop new standards relating to Islamic syndication and liquidity management

Held its 46th meeting virtually to discuss the Islamic finance standard-setting body’s new standardization and industry development initiatives

BHM Capital acquires a new SCA license in fund management

The development is aligned with the company's strategy to provide a range of financial instruments to suit investors’ needs, whilst having the confidence of working with one of the top-ranked firms in the country

ABCK-AmCham Kuwait, EY Kuwait and Dalal Al Mulla hosts a tax seminar

To provide an overview of the Corporate Income Tax landscape in Kuwait including recent developments

Cairo Amman Bank and Network International Jordan sign exclusive Cooperation Agreement to provide e-payment services for card issuing and management

This development is in line with the accelerating shift away from cash and Network International’s commitment to the advancement of payment systems and cashless societies.

UAE Central Bank bans insurance firm from issuing new policies for violating laws

Second company in a week to be penalised for not adhering to local regulations

Stephenson Harwood advises lenders on US$160 million leveraged buyout financing for Allianz Marine

The deal relates to the announced acquisition by SHUAA, the leading asset management and investment banking platform in the region, of Allianz by its managed funds.

Al Fardan Exchange L.L.C signs anti-money laundering compliance solutions agreement with Kiya.ai

The agreement entails Anti-Money Laundering compliance solutions for transactions monitoring, sanctions screening and AML risk assessment

CBB raises key interest rate by 75 basis points

CBB’s key policy interest rate on the one-week deposit facility is raised from 1.75% to 2.50%

FAB Egypt rebrands to FABMISR after legal merger with Bank Audi

FAB Egypt’s assets will operate under FAB’s newly introduced brand identity FABMISR

Finance Ministry in Kuwait currently working to activate economic, financial reform initiatives

By reviewing public services, improving state revenue collection, strengthening tax administration capabilities, improving customs flows, improving oil revenues, and developing public financial management

Entities operating in microfinancing activity in Egypt increased to 1,026 by the end of March 2022: FRA

The authority clarified in a recent report that these entities are divided into 32 bodies and civil institutions along with four companies

Central banks step up tightening to rein in soaring inflation globally

Weaker growth, stronger inflation and damage to supply chains - a threefold crisis

CBUAE signs a MOU with Jordan and Egypt to promote financial and banking relations

Central Bank governors from the UAE, Egypt and Jordan discuss prospects for developing co-operation and supporting industrial partnerships

Egypt’s Sovereign Fund to establish sub-fund with $4bln state assets

The fund could eventually rise to more than $5-6bln

Alvarez & Marsal releases Saudi Arabia Banking Pulse for Q1 2022

Saudi banking sector profit remains well diversified

Clifford Chance advises DP World on the sale of a minority stake in its strategic UAE assets to CDPQ for US$5 billion

Tranche 1 (US$5 billion) of the transaction is expected to close in the second or third quarter of 2022, and tranche 2 (up to US$3 billion) is expected to close during the fourth quarter of 2022.

Saudi issues 9,400 new investment licenses for foreigners in first quarter of 2022

This figure is about 19 times more than the licenses granted in the first quarter of 2021, according to the data issued by the Ministry of Investment

UAE leads international money laundering, tax evasion operation in arrest of Sanjay Shah

For the past two years UAE authorities have worked closely with their Danish counterparts to compile a strong body of evidence in this case

Legal, Tax, Regulation & Compliance