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

Saudi Arabia fights forged accounting certificates to enhance sector performance

(SOCPA) recorded about 517 forged accounting certificates out of 200,000 submitted to the authority during the past three years

UAE anti-money laundering rule: Some businesses find compliance is no easy task

Fines of Dh50,000 and more - even up to Dh5m - await businesses delaying AML compliance

PwC Academy and Wiley expand collaboration into CFA domain

The CFA program is designed to equip professionals with skills in investment, and is considered one of the more advanced distinctions in the investment management profession.

Saudi Arabia approves merger of 32 firms to mitigate losses

The merger will result in a closed joint-stock company to mitigate the impact of the COVID pandemic

DP World to facilitate trade finance from DIFC in boost to SMEs

Small and medium sized enterprises make up the bulk of economies around the world, including in Dubai

JumiaPay partners with the National Bank of Egypt to offer business payment services

These licences will allow for ease of online banking, a medium for merchants to integrate several payment modes, and enable the onboarding process of customers for electronic payments on the platform.

Qatar Islamic Insurance Group board recommends amendment for up to 100% foreign investors' ownership

This was announced on the company website and on the Qatar Stock Exchange social media sites.

Record-breaking quarter for issuance of foreign investor licenses in Saudi Arabia as investment recovery accelerates

Saudi Arabia's robust economic performance continues with 478 new foreign investor licenses awarded in Q1 2021, the best quarter since records began in 2005

Giambrone instructed in a One Billion Pound Cross-border Fraud Claim

The case represents one of the leading cases on cross-border litigation when issues of res judicata (final judgment) of foreign judgments fall to be considered in the courts of England and Wales.

19 UAE-listed companies now have women board members

The SCA made it mandatory for listed companies to have at least one women board member in March

Tackling money laundering in the Gulf

Recent policy efforts in the region hint at sea change for the tackling of illicit monetary flows, but there is plenty more to be done

Turkey’s banking sector marks net profit of USD4B

Deposits held at lenders in Turkey – the largest liabilities item – amounted at more than 3.9 trillion Turkish liras (USD469 billion), increased 12 percent from a year ago.

Why Britain’s punitive tax system risks deterring Middle East property investors

Experts say rising tax rates make residential homes less attractive to wealthy foreign buyers

Demand for Dubai's e-commerce licences jumps 63% in first half of 2021

The emirate issued 3,243 DED Trader licences in the first six months

Kuwait's state bodies to return to pre-pandemic working hours as of August 15

There is a continued decline in coronavirus-related deaths

The Arab Monetary Fund extends a new compensatory loan to the Republic of Tunisia

With an amount of Arab Accounting Dinar 19.175 million, the equivalent of approximately USD 82 million, in face of current circumstances

Simmons advises on launch of first international Islamic digital bank

Simmons & Simmons has advised on the creation of Nomo, the world’s first international Islamic digital bank.

UAE's baraka secures regulatory approval for online trading

The zero-commission investment app will offer investors access to more than 5,000 US-listed securities

UAE 'Ultimate Beneficial Owner' rule: Businesses pay Dh15,000 fines for non-compliance and there could be more

Businesses slapped with heavy fines for failure to complete registration that costs Dh15

Qatar's PPP law expected to enhance opportunities in various sectors: PwC

Thirteen years later, Qatar has made concrete strides towards diversification, including through reforming the business environment and increased government spending on large-scale infrastructure development ahead of World Cup 2022.

Legal, Tax, Regulation & Compliance