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

Kuwait enacts law to enhance tax transparency

This includes both automatic information exchange and responding to requests from the Ministry of Finance within 21 days.

DIFC Courts records strong uptake of services in first six months of 2024

Increase of 10% in the total number of cases filed with the Court of First Instance

Saudi CenBank launches government banking services platform

It aims to digitize the financial operations services of government agencies on their accounts

Turkey is on verge of disinflation, top two economic policymakers say

The central bank has lifted its main rate to 50%, from 8.5% in June when Simsek was appointed, and has pledged to be patient with its tight policy.

Saudi Central Bank clarifies amounts exempted from bank account seizures

The Saudi Central Bank emphasized that clients can benefit from the exempt amount if it is deposited after the seizure.

Dubai Chambers and VFS Global Sign MoU to Accelerate Trade and Investment Opportunities

Our cooperation with VFS Global will enhance the competitiveness of Dubai’s private sector by facilitating smoother entry into global markets.

SAMA regulations enhancing Saudi Islamic banks’ transparency: Fitch Ratings

S&P Global also noted that Islamic banking assets grew 56 percent in 2023 compared to 72 percent in 2022.

UAE Virtual Asset Ecosystem

With the objective of operating Virtual Assets, withagility, and yet, mitigating and managing risks, associated with Virtual Assets.

Qatar Central Bank's foreign reserves surge to $68 billion

The reserves are composed of various assets including bonds, treasury bills

Egypt’s remittances reach $2.7 billion in boost to foreign reserves

Egypt’s liquidity crisis has been alleviated by recent investment from the United Arab Emirates and help from the International Monetary Fund, though inflation and debt remain issues.

Commercial Bank of Dubai signs exclusive strategic partnership agreement with Visa

This agreement aims to further accelerate digital payments in the UAE, offering innovative and customer-centric solutions to CBD cardholders across all segments

Saudi banks’ aggregate profit reaches 14-month high of $2bn

This complacency might deter them from pursuing ambitious transformation

Turkish central bank 'determined to bring down inflation': Karahan

The bank has raised the rate by 4,150 basis points since June last year

Treasury sukuk auction for Q3 attracts strong demand from eight banks

Bids worth AED6.76bn were received, marking an oversubscription of 6.1 times

UAE Corporate Tax: Many businesses keep missing key registration deadlines

Foreign investor owned firms, startups among those missing UAE corporate tax registration

Kuwait’s central bank approves launch of new WAMD instant payments system

Among the latest adopters of WAMD are the National Bank of Kuwait (NBK), Kuwait Finance House (KFH) and the country’s first digital bank, Weyay Bank.

CBUAE explores solutions and initiatives to achieve "zero bureaucracy” in the financial sector

The initiative aims to take a significant step in government procedures

Turkey removed from FATF money laundering grey list

Turkish officials welcomed the move, which is seen as improving its international standing and potentially drawing in fresh investment.

QFC receives ISO certification for processing immigration services

This validates QFC’s proactive approach to demonstrating quality, which can bring long-term, positive benefits to employees, customers and society.

Phoenix Consulting's takeaways from the Saville International Conference

One of those partners is Saville Assessment, a talent management consultancy that specialises in providing psychometric tools to employers.

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