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

6 Indians arrested in Riyadh over illegal money transfers

SR3.4m caught in possession of suspects collected from illegal residents

United Arab Emirates publishes MAP guidance for resolving tax and transfer pricing disputes

The guidance discusses various topics

Saudi Arabia steps up crackdown on shadow economy

The government in March introduced an option for people in breach of the new law to make the necessary changes needed to become compliant.

Andersen Global Expands Practice in the United Arab Emirates

Collaborating with Andersen Global allows us to serve our clients with multi-jurisdictional needs in a seamless manner and further positions our firm as a benchmark organization that sets the standard for best-in-class, bespoke solutions in the United Ara

Norton Rose Fulbright LLP and Save the Children launch global strategic partnership

Save the Children operates in more than 100 countries including the UK.

Oman suspends local filing transfer pricing reporting requirement

Moreover, the alert affirms that the country-by-country notification requirement shall continue to apply.

Napier sets up at Dubai’s leading financial center in the Middle East with new DIFC office

Napier already works on AI-led anti-financial crime solutions with many organizations across MEASA, including Saudi Arabian Monetary Agency, Central Bank of UAE and directly with DIFC.

Kuwait said to mull tapping future generations fund to help balance budget

The plan will proceed in tandem with other reforms to public finances according to the investment authority.

Crypto in the UAE: TRES Was Approved by DMCC for OTC Trade License to Operate With Cryptocurrency

The cryptocurrency industry has already shown its strength and serious intentions to conquer the whole world and make it better.

Dubai Islamic Bank wins latest round of ongoing legal tussle with NMC's administrators

Case goes to arbitration with administrators ordered to pay 75% of the lender's costs to date

Licencing regime introduced for UAE’s retail payments service providers

Central Bank of UAE issues Retail Payment Services and Card Schemes Regulation

Dubai’s Mashreqbank applied for Saudi banking license

UAE's lender is also planning to enter the Omani market

Syria's Assad says funds frozen in Lebanese banks biggest impediment to investment

Many Syrian front companies had long circumvented Western sanctions by using Lebanon's banking system to pay for goods which were then imported into Syria by land.

The evolving and complex tax landscape: transformation and risk mitigation in the new reality

Further, the COVID-19 crisis has hastened changes globally within tax frameworks and brought more alignment among tax authorities

Dubai regulator fines former Abraaj finance chief $1.7 million

"Mr Dave was aware that approximately $200 million was taken from the Abraaj Growth Markets Healthcare Fund (AGHF) and used for the Abraaj Group’s working capital or other investment commitments,"

Qatar Central Bank announce Eid Al Adha holiday for financial institutions

Qatar Central Bank indicated that all financial institutions and banks will resume their business for the public on Sunday, July 25.

Clifford Chance advises as Banks’ counsel on Yahsat’s landmark IPO and listing on the ADX

With operations in more than 150 countries spanning five continents, Yahsat is the preferred partner for reliable integrated satellite communication solutions and an industry centre of excellence for both government and commercial customers.

UAE urges DNFBP executives to fight money laundering and terrorist financing

They include executives from professions outside the financial services sector that have heightened AML/CFT exposure

UAE Central Bank Sets Roadmap for CBDC Launch

The central bank prioritizes CBDC for its 2023-2026 roadmap.

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