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

GCC Quarterly Review - Q4 2021

This follows the amendment to the SCA’s Resolution No.11/R.M of 2016 regarding the offering and issuance of shares on public markets

Central Bank of Kuwait Issues Digital Bank Guidelines

The guidelines were developed after studying the regulatory approaches of 25 central banks and the business models of 40 digital banks.

Saudi sovereign fund in talks for extension on $15bln loan: sources

The sovereign wealth fund started raising bank debt in 2018

UAE unveils 9% corporate tax

It ‘shouldn’t pose any issue to businesses looking to benefit from life and opportunities’ in the country

UAE Central Bank launches new general terms and conditions for standing credit and liquidity insurance

Move defines discretionary powers related to activation of facilities

UAE to impose 9% corporate tax on businesses from June 2023

No corporate tax will be imposed on personal income from employment, real estate or other investments, according to the country's Ministry of Finance

CBUAE launches new general terms and conditions for its standing credit and liquidity insurance facilities

The new terms and conditions, which will come into effect on March 1, 2022, define the discretionary powers related to the activation of these facilities, and the guidelines for collateral management

Why employees will continue to pay no income tax in the UAE

What is the difference between corporate and salary tax?

AML UAE launches Anti-Money Laundering Consulting Services in UAE

The new AML Consulting Services include the preparation of AML/CFT Policy and procedures as per the guidelines of the ministry.

17 Black-linked company used Pilatus Bank to wire millions – report

UAE company used Pilatus Bank to send 'suspicious' transections to a Seychelles company called Mayor Trans

Kuwait corruption case: Swiss banks avoid UK bribery trial

Kuwait’s state pension fund is pursuing its former head over a $850 million embezzlement scandal

QIIB obtains ISO 27001 certificate for third time

“Receiving the ISO 27001 certificate is a practical indication to all our customers and dealers that we are a trusted partner and reliable in all circumstances to obtain the best banking services that enjoy the highest standards of safety and protec

Dubai, Monaco sign agreement to attract ultra-wealth individuals

The agreement focuses on enabling Ultra High Net Worth Individuals and family offices, with DMCC being the primary destination for global business.

Dubai DFSA slaps $136mln fine on Abraaj Group founder Arif Naqvi

Naqvi and partner Siddique refer decision to tribunal

UAE introduces new Articles of Association

Those regulations require the adoption by 2 January 2022 either of the updated Standard Articles (model AOA prescribed by the DMCCA) or of Non-standard Articles (modified AOA), which take effect on their registration by the Registrar.

OECD to launch global report on pensions from Bahrain

Speakers in the Webinar shall be the writers of the report, which include Maciej Lis, pensions economist, Andrew Reilly, pension analyst and Romain Despalins, OECD statistician.

Abu Dhabi issues new family business ownership governance law

The law also aims to increase family businesses' contribution to growth and economic diversification

Open Banking Exchange launches in Saudi Arabia

By working with regulators, self-regulated organisations (SROs), and national communities, OBE helps turn vision into operational reality.

Deutsche Bank blames client in $565m false sales lawsuit

Deutsche Bank is now investigating whether some of its products were mis-sold.

E-Trader licence records 6% growth during 2021

The growth reflects the ongoing efforts to consolidate the emirate's position as a global platform for e-commerce

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