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

Swiss double taxation agreement with Bahrain

The new DTA promotes economic relations between Switzerland and Bahrain.

Malaysia's 1MDB gets go-ahead to pursue Abu Dhabi wealth fund in UK court

1Malaysia Development Berhad was an investment fund originally intended to develop the South-east Asian nation's economy.

UAE regulators and exchanges issue High-Level Statement on Sustainable Finance to advance national net-zero goal

Leading UAE regulators and exchanges, including MoE, MoF, the OSECC, MOCCAE, CBUAE, SCA, ADGM, DFSA, ADX, DFM, and Nasdaq Dubai, set out roadmap for sustainable finance growth

IBF Net receives shariah compliant certification for its impact cryptos

Social cryptos are a significant component of Confluence, the platform for measurement, rating and exchange of impact units, a project that recently won a place in the maiden cohort of FIKRA Accelerator program 2021 jointly offered by the Securities Commi

Saudi Export-Import Bank signs agreements worth over $100mln with DHAMAN

The agreements are part of the bank's efforts to provide financing and insurance products to Saudi exporters and increase the competitiveness of Saudi products in foreign markets

Dentons senior associate wins Rising Star Lawyer of the Year award

At the IFLR Middle East Awards 2021

Qatari Central Bank approves $50bln bank merger

The merged entity will be the second largest Islamic banking entity in Qatar

Central Bank of the UAE establishes Cyber Security Operations Centre

The Centre will be the leading security operations for the UAE’s financial sector

Former Abraaj managing partner fined $1.9m by Dubai regulator

Mustafa Abdel-Wadood is prohibited by the Dubai Financial Services Authority from doing any business related to financial services in or from the Dubai International Financial Centre

Dubai regulator fines former financial services firm director

He has appealed the decision and the case will go to a tribunal

UAE intensifies efforts to combat money laundering and terrorism financing crimes, and strengthen deterrent penalties for perpetrators

The legal authority and powers given to these organisations are part of supportive measures aimed at helping them detect crimes and its perpetrators without prejudice to the legislation in force.

Indonesia's sovereign wealth fund, DP World agree on $7.5 bln partnership

Indonesia's government launched its sovereign wealth fund in February, with an initial investment of $5 billion.

Dubai FSA fines and bans financial services firm director pending tribunal outcome

The DFSA said it took action against Rollet due to its view that there were "multiple breaches of DFSA legislation arising from his knowing involvement in La Tresorerie unlawfully providing physical cash to its clients in breach of DFSA Rules (Unlawf

Saudi deposits $3 bln in Egypt's central bank

The Saudi statement appeared to suggest the total size of its Egypt deposits had changed little since then.

Bahrain Court Orders Five Years In Jail, Hefty Fines For Financial Fraud

Court files say the two people - one of the suspects an Arab national - took funds from people to invest through two companies owned by one of them.

DIFC enacts changes to its employment laws

Ruth Stephen tells HRNews about the DIFC’s changes to its employment laws to simplify and clarify working arrangements

Citigroup plans more investment in Saudi Arabia, eyes banking license

Citigroup's client business model is built around serving multinational companies globally, as well as bringing global investors opportunities in a local market.

UAE to introduce new Federal Data Law

Ruth Stephen tells HRNews about new data protection laws to be introduced as part of the UAE’s ‘Projects of the 50’

Dubai royal divorce begins

A ten-day hearing at the High Court before Mr Justice Moor will decide the payout for the princess and their two young children.

Crypto too close to criminals, says SAMA governor

“Winners in the banking industry will be those who take steps today toward digitization rather than later.”

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