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

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

Egypt Central Bank increases cash withdrawal limits

the limits were imposed as part of a plan to mitigate the coronavirus pandemic. But bankers say the limits helped tamp down the black market in foreign currency by reducing the amount of available cash.

UAE central bank urges Islamic Financial Institutions to appoint Emiratis as trainees

The Resolution includes guidance for IFIs on the membership of the trainees

UAE Data Protection Law: The requirements and ensuring compliance

The UAE cabinet has established the UAE Data office as Competent Supervisory Authority to ensure federal law enforcement.

Saudi Central Bank approves two new Fintech companies

SAMA is currently working on developing and implementing an integrated high-standard network to carry on Open Banking Solutions in the Kingdom

UAE: Over 70 nationalities can get visa on arrival for up to 180 days

30-day, 60-day and 90-day visa eligibility, application process explained

Egypt’s new Central Bank Governor has 3 important issues to address

Abdalla will deal with a lot of other urgent files, on top of which are the coordination between the fiscal and monetary policies

Dubai’s largest bank raises wages due to inflation

Emirates NBD, which is majority-owned by the Dubai government, said it did not comment on staff-related issues.

Al Ahli Bank of Kuwait K S C P : and Gulf Bank Sign Memorandum of Understanding to Outline Proposed Acquisition

Mr. Boodai stressed the keenness of Gulf Bank's board of directors to study all available opportunities in pursuit of all shareholders' interest, and to ensure transparency throughout every step of the process.

IMF sees Saudi inflation contained at 2.8% as GDP growth hits decade-high

The IMF report added that the increase in interest rates is expected to have only a limited impact on the Saudi economy.

Capital Bank of Jordan signs USD 115mln 1-year debut senior unsecured syndicated term loan facility

Mashreq bank psc acted as the sole Coordinator, Facility Agent, Mandated Lead Arranger and Bookrunner (the “MLAB”) for the Facility

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