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

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

Kuwait's parliament approves Credit Bank capital hike

The capital of Kuwait Credit Bank is increased by $993.31mln

Kuwait approves Credit Bank capital hike: Finance minister

The parliamentary proposal had aimed to increase the capital of the Credit Bank by 750 million dinars in order to finance housing units for Kuwaiti citizens.

UAE tax authority extends penalty revision scheme until December 2022

The earlier deadline for re-determination was December 31, 2021

Latham Advises Chimera Capital

Transaction represents Chimera’s second venture capital fund as it looks to find multi-million dollar opportunities in "growth-stage" companies.

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