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

QCB issues QR600m treasury bills for Jan

Treasury bills are issued through auction for banks operating in Qatar.

The Law Office of Salman M. Al-Sudairi and Latham Advise on the first ever IPO of a technology start-up in Saudi Arabia

Jahez’s SAR1.6 billion IPO marks the first listing in 2022 in Saudi Arabia.

DIFC launches specialised court for digital economy

“The goal of the judicial system and courts in Dubai is to deliver prompt justice in a country where the law prevails,” he added.

Barwa Real Estate obtains three global accreditation certificates

AlBinali emphasised that this achievement will constitute an additional incentive to continue Barwa Real Estate’s plans towards developing new projects that adhere to international standards.

Deloitte's 1,100 employees in UAE adopt Monday-Friday work week

“The new working week will also bring the UAE’s financial services sector into closer alignment with global real-time trading and communications-based transactions such as those driving stock markets, banks and financial institutions.”

Saudi central bank to launch repo operations using Bloomberg from this month

New system to increase efficiency of liquidity management in Saudi banking system

United Arab Emirates Updates Federal Labour Law

Beginning 2 January 2022, the entirety of the United Arab Emirates’ existing labour law (Federal Law No. 8 of 1980) and any subordinate regulation will be repealed and replaced with the new Federal Decree-Law No. 33 of 2021 (the Labour Law Decree).

Suez Canal Bank participates in 2 securitisation issuances worth EGP 200mln

The bank participated with EGP 100mln in the securitisation issuance of Global Corp

UAE cheque rules: A big leap towards global best practices

Law to bring more clarity and flexibility in cheque transactions

Dubai unifies all government health insurance systems; announces new benefits

The move covers all government insurance schemes, including Saada

Saudi Central Bank approves Gulf Union Al Ahlia's capital raise to $122mln

The increase will double the company's capital

Turkey’s banking field registers USD5.8b of net profit

Regarding the liabilities part, deposits kept at lenders in the country amounted at about 5.2 trillion Turkish liras (USD401.7 billion) in the end of November

Saudi cabinet approves law of evidence to develop the legislative system

The law of evidence will achieve a “major qualitative leap in the judicial legislation system,” the crown prince said

Binance Gets To Be The First-ever Crypto Regulator In The Middle East North Africa

In-principle approval is a sign that Binance must complete the application process in full and expects to complete “in the near future,” the announcement notes.

Qatar Chamber urges inactive companies to strike off their commercial registrations

Companies that fail to abide by such procedures alongside the submission of financial statements will be prone to pay financial penalties of QR500 for each day of the delay (maximum QR 180,000), according to Article 24 of the Income Tax Law.

Saudi Central Bank issues draft rules on real estate refinancing

The rules aim to contribute to the development of the finance sector promoting growth and stability in the secondary market for real estate finance

New amendments on cheque provisions in UAE to take effect from January 2

The clarification issued by the CBUAE aims to raise awareness on decriminalisation of bounced cheques and penalties

Compliance deadline set for cyber security regulations in Bahrain

Businesses offering financial services have until March next year to fully comply with new Central Bank of Bahrain (CBB) regulations

Dubai Courts begin decriminalising bounced cheque cases

Criminalisation is limited to cheques issued in bad faith

UAE Central Bank fines an exchange house for compliance failure

The banking regulator imposed a total penalty of $95,847 against the business

Legal, Tax, Regulation & Compliance