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

Meeting UAE's new Consumer Protection Standards for banks

The goal is to adopt global regulatory best practices and implement them across all financial institutions in the UAE

Get ready to face fines of up to Dh100,000 in case of ‘ultimate beneficial owner’ rules violations

Ministry of Economy will begin imposing fines on violators from July after the campaign

Saudi-backed real estate startup in talks to expand into KSA

The company allows investors to buy shares in a property and earn regular returns in the form of quarterly dividends

Banks in Qatar embrace ESG

The webinar discussed some of Qatar, and wider GCC, banking specific issues, challenges and opportunities as they relate to ESG adoption for banks.

Saudi Arabia implements cybersecurity framework

The framework ensures an increase in the level of confidence in the integrity of the infrastructure of service providers, and the application of best practices to develop appropriate cybersecurity measures.

Dubai Coin cryptocurrency was never approved by any official authority

Officials sounded caution on a crypto asset that has been making the rounds, claiming to be the official digital currency of the emirate

Saudi Central Bank allows mothers to open bank accounts for their children

Saudi Arabia was the top reformer and improver among 190 economies in the World Bank’s Women, Business and the Law 2021 report

NMC's administrators set for new round of hearings in dispute with Dubai Islamic Bank

Alvarez and Marsal had sought power over securities held by the bank relating to insurance payments

Bahrain central bank gives instructions to postpone all loan installments

Shopping malls, restaurants and coffee shops began on Thursday observing a two-week shutdown

Abu Dhabi judge rules in favour of Dubai Islamic Bank in NMC case

NMC's administrators Alvarez & Marsal filed a suit in ADGM courts last month to obtain power over those securities, claimed by Dubai Islamic Bank, and possibly to use them to pay other creditors.

2021Saudi Central Bank mulls adding COVID-19 insurance coverage for non-Saudi tourists

Saudi Central Bank says possible coverage would remain for the duration of a visit to the Kingdom

Qatar National Bank removes ex finance minister from board after arrest

Emadi had been minister of finance in the wealthy Gulf Arab state since 2013

Kuwait central bank issues warning against digital currencies

The apex bank has partnered in this campaign with the Kuwait Banking Association and all Kuwaiti banks to raise financial awareness in the country.

UAE Central Bank foreign assets reach Dhs392.4bn by end of Q1 2021

The central bank’s foreign assets increased 0.4 per cent year-on-year

Andersen Global Expands Practice in Turkey with Istanbul-Based Tax Firm

The quality of service and client satisfaction are critical aspects of our business

Abu Dhabi judge rules in favour of Dubai Islamic Bank in NMC case

NMC ran into trouble last year after the disclosure of more than $4 billion in hidden debt

GCC governments to see sharp fall in fiscal deficits from this year

GCC states have shown spending restraint in response to oil price decline and COVID

Saudi Arabia, World Bank pledge $100m for global tourism fund

It will be the first global fund dedicated specifically to supporting global tourism growth

Saudi Tas'heel gets credit card finance approval from SAMA

eXtra said the approval comes in line with the company’s strategy to offer a complete set of solutions in Sharia-compliant consumer finance to reach to a wider customer base

Saudi seeks to raise $55bln through privatisation by 2025

According to a report by Financial Times, funds raised through future sale of Saudi Aramco shares will go to PIF

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