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

Bahrain’s MPs urged to fast-track pensions debate

Bahrain’s MPs to fast-track a government bill granting a three percent increment to them, starting this year

UAE and Economic Substance; Don’t be tempted to avoid its relevance!

Different jurisdictions have been introducing their own rules around this topic and the OECD has kept a watchful eye on its progress.

United Arab Emirates: Upcoming deadlines for economic substance filing requirements

All legal entities are encouraged to determine their upcoming ESR filing obligations as soon as possible for any completed FYs and take necessary steps to ensure filings are made within the applicable deadlines and all necessary supporting documentation i

How does updated SCA rulebook impact UAE advice firms?

Is the regulatory landscape set to become more or less complicated?

UAE drafts new law on charity fundraising to combat money laundering

The OECD had warned in a report that charities are being used for money laundering and tax evasion.

Retail group Marka declared bankrupt by Dubai court in landmark judgement

Dubai court issues strict limits on Marka's former board of directors

UAE drafts new law on charitable fundraising to fight money laundering

Legislation is still being developed; details to be announced soon, says senior official

Norton Rose Fulbright advises Servy.us

With the flexibility to operate with either collection or delivery options across concourses B & C, DXB&more has the potential to vastly improve the efficiency and customer service experience for all guests, with further plans already in place to

Talking point: Dubai Decree 34/2021 – implications for the DIFC-LCIA

The Decree comprises of 10 articles which set out the new vision for the consolidation of arbitration centres in Dubai.

GCC nations, UK in talks to bolster ties with free trade deal

Trade between the UK and the Gulf nations topped £30 billion ($41 billion) in 2020, according to the British government.

Real estate finance - Post COVID-19 trends across the globe

The asset classes which remain a favourite with lenders are beds, sheds, meds, and watts.

Saudi data protection reform to take effect in March 2022

The Saudi Data and Artificial Intelligence Authority (SDAIA) will supervise the implementation of the new legislation for the first two years.

Judge rules Bahrain’s GFH can seize Dubai fraudster David Haigh’s properties

Former Leeds United executive has been ordered to pay GFH $5m

World Bank official predicts 3.3% GDP growth for KSA in 2022

Along with tourism, Abousleiman pointed to green energy and climate change adaptation as key growth areas, as Saudi Arabia continues to diversify its economy away from oil.

The Central Bank of Oman and the Banking Sector...

It may be noted that the financial assistance being extended by CBO and the banking sector is part of their corporate social responsibility endeavor

Saudi data protection reform to take effect in March 2022

The Personal Data Protection Law (PDPL), published in the Official Gazette in KSA on 24 September 2021, sets out conditions around the processing of personal data as well as a series of rights that ‘personal data owners’ will enjoy.

Shareholders approve merger of Qatari lenders Masraf Al Rayan, Al Khalij

Deal expected to create one of region's largest Islamic banks

DIFC simplifies and clarifies employment law in amendments

The legislator has acted to remove any potential ambiguity and address unintended consequences that were arising under the law.

Dubai Financial Services Authority provides right regulatory framework for future of finance

Innovation is a key pillar of the UAE’s economic growth

Lebanon resumes IMF 'interactions', committed to fair solution for creditors

Beirut defaulted on its sovereign debt in March 2020, saying it needed the foreign currency reserves to meet basic needs.

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