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

Dubai’s DAFZA, Export Bahrain sign agreement

The MoU seeks to encourage companies across the two countries to expand joint trade relations and enhance cooperation

Bank of Israel pledges to keep policy accommodative as risks remain

The shekel last week reached a 26-year high versus the dollar and 20-year peak against the euro.

Egypt issues regulations for SPACs

Also, the ownership percentage of legal persons shall not be less than 50 percent of the capital, while the proportion of financial institutions or qualified investors shall not be less than 25 percent.

Standard Chartered facing court case

Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.

Liechtenstein Confirms Probe into Lebanon’s Central Bank Governor

Salame has repeatedly denied any wrongdoing and said he had demonstrated that his wealth had been acquired before he took up his central bank post in 1993.

DIFC Court clarifies its jurisdiction in long-running Abraaj claim

The DIFC Court has the discretion to exercise its jurisdiction even where there is an opt out clause.

Dubai says gold-trading allegations are 'lies' and 'attacks'

UAE officials say critics feel threatened by the country’s success in building a gold industry.

Dubai regulator unveils sustainable finance task force in DIFC

The SFTF will meet in January to discuss the next steps and how issues surrounding sustainable finance could be progressed.

Turkey faces threat of inflation, currency crisis

But the lira is likely to continue its freefall and another abatement is likely in December, experts said.

Taiwan's taxation pact with Saudi Arabia takes effect

The agreement is the 34th taxation pact Taiwan has signed with another country, according to the MOF.

DFSA launches task force on sustainable finance in DIFC

Sustainability forms a key area of regulatory focus for the DFSA

UAE Labour Law revamp will help businesses in talent war

Dubai-based Luke Tapp of Pinsent Masons, the law firm behind Out-Law, was commenting after Federal Decree - Law No.33 of 2021 on the regulation of labour relations in the private sector was issued.

UAE Central Bank issues guidance for licensed exchange houses to combat money laundering

The country has strict laws to prevent money laundering and the financing of terrorism

United Arab Emirates a go-to offshore haven for Africa’s political and business elite, leaked records show

The UAE’s record on illicit finance raises concerns for its relationship with the world’s poorest continent, experts say.

Top US Treasury official urges UAE bankers over vital 'open communication' on illicit activities

"Participants shared their views about the banking sector's role in the global economic recovery, risks facing the financial sector in the region, and cybersecurity.

Commercial Bank launches 'direct payment service' in cooperation with General Tax Authority

CIB will also provide real time update to GTA of the payment status.

Guidelines for Financial Institutions adopting Enabling Technologies: UAE regulatory authorities

The Guidelines, published Monday, set out cross-sectoral principles and best practices for financial institutions

UAE regulators issue guidelines to financial institutions on use of enabling technologies

The recommendations will help the financial institutions to 'proactively and appropriately' manage risks arising from innovative technologies

PwC Legal grows presence in Saudi Arabia with local partnership

PwC’s Legal arm has extended its footprint in the Middle East through a partnership with Dr. Qaisar H Metawea Law Firm, a Saudi Arabia based boutique.

UAE Government amends federal tax procedures

This is the first time that the FTP law has been amended since its introduction in 2017.

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