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

Saudi regulator CMA approves four stake sale applications in Nomu

Jahez International, Nayifat Finance among those looking to sell stakes

UAE's Central Bank issues 2020 silver coins to mark Expo opening

Second commemorative coin released by banking regulator for global event

EFG Hermes close to obtain licence to finance startups

EFG Hermes targets expansion in e-payment and business management companies

GCC Quarterly Review Q3 2021

The third quarter of 2021 saw a number of legal developments in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates).

Bahrain cabinet asks parliament to approve VAT amendment: state news agency

Government is considering doubling VAT to 10% to boost state revenues and reduce its budget deficit

Bahrain to double VAT to 10% - report

Government looks to boost revenue and curb deficit

Saudi Center for Commercial Arbitration signs MoU with Saudi Contractors Authority

Seeking to support the growth of the contracting sector

Wizz Financial gets regulator green light to acquire UAE Exchange

All branches of UAE Exchange were closed in March last year, before its owner Finablr was acquired by Wizz.

Dubai Abolishes DIFC-LCIA Arbitration Centre and Moves to Revamp DIAC Arbitration

For parties entering into new arbitration agreements, it would seem important to immediately refrain from specifying the DIFC-LCIA Rules.

UAE Central Bank starts to withdraw COVID-19 stimulus measures

To leave lower reserve requirements for banks unchanged

Lebanon creditors could face 75% haircut in narrow recovery path - Goldman Sachs

Lebanon defaulted on its international debt in March 2020

Dubai decree changes Dubai disputes landscape

The DIFC-LCIA arbitration centre is effectively a partnership between the DAI and the London Court of International Arbitration.

IFLR Recognizes Two Milbank Associates as 2021 EMEA Rising Stars

She also advises on the related UK/EU regulatory framework, focusing on the EU risk retention regime as it applies to both EU and US securitization transactions.

England to accept UAE vaccine certificates

This means that travellers vaccinated in the United Arab Emirates will be able to enter England without having to quarantine or test before departure, though they will be required to take a test on Day 2 of arrival.

DAMAC founder gets regulatory approval to go private

At the time, an SCA representative told Reuters the authority was “inquiring into some facts and circumstances” of the buyout offer, without elaborating on what exactly it was looking into.

Lebanon banks under fire as PM promises audit

There are 63 banks operating in Lebanon with more than 1,000 branches and 25,000 employees

Abu-Ghazaleh Calls For Establishment Of ‘Arab Accounting Compliance Law’ By An Arab Consortium

He also pointed out that the drafting of the International Accounting Standards (IAS) should allow countries to add their own “local context” in accordance with their applicable laws, rather than on the basis of imposed laws regardless of thei

EBRD fosters trade in Jordan

The TFP facility will enable the Housing Bank to provide cash financing for pre-export, post-import financing and local distribution.

BANK NIZWA, Oman & AAOIFI, Bahrain sign a pioneering MoU for Islamic Finance Development in Oman

This makes Bank Nizwa the only bank in the Sultanate and internationally to carry such a wide-ranging relationship with AAOIFI

IPA Qatar, PwC release 'A tax and legal guide to Doing Business in Qatar 2021'

The guide was unveiled during an engaging webinar, held in cooperation with the General Tax Authority, the Qatar Financial Centre and the Qatar Free Zones Authority

Legal, Tax, Regulation & Compliance