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

Saudi finance minister issues license for STC and Saudi Digital banks - cabinet

"The finance minister will issue the necessary licenses for STC Bank and Saudi Digital Bank, both under establishment," the Saudi Press Agency added

Saudi Arabia to improve its legislative and business environment

These law reforms represent the Kingdom's intention to entrench the principles of justice, transparency, protect human rights and achieve comprehensive and sustainable development in different sectors

DFSA imposes restrictions on FFA Private Bank (Dubai) Limited

The prohibition will remain in place until FFA is able to demonstrate that it has addressed these weaknesses. FFA is cooperating with the DFSA to resolve the issues

Expat divorce has radically changed since recent UAE legal overhaul, say lawyers

Spousal support, separating assets and joint custody is increasingly based on laws of the country where the couple married

PwC Legal Middle East wins two awards

PwC Legal Middle East winners of the Innovation through Technology Team of the Year and Banking, Finance and Restructuring Team of the Year and finalists for International Law Firm of the Year at the Middle East Legal Awards 2021

UAE, UK seek to identify, tackle money laundering and terrorist financing

Programme focused on enhancing protocols designed to identify and tackle money laundering practices, while stemming the flow of funds and commodities for illicit means

Saudi Arabia awarded highest ICT regulatory classification by ITU

Saudi Arabia achieves the G5 regulator classification two years ahead of the targeted date of 2023, set by the ICT Sector Strategy 2023

A guide for company directors in Saudi Arabia

This guide aims to help Saudi Arabian companies and their investors

Sohar International introduces Escrow accounts for real estate sector in Oman

The introduction of escrow account is key to this objective, as it protects deposits of investors following the purchase of real estate developments within the country

UAE Central Bank raises interest rate by 5bp after US Fed move

Rate hike guidance to weigh on emerging market currencies, including Indian rupee, stocks

CBUAE Financial Stability Report highlights resiliency of UAE's financial system amid COVID-19 pandemic

The report gives a comprehensive overview of the development of the UAE economy and financial system in 2020. CBUAE projects that the UAE economy is expected to gradually recover during 2021 and 2022 from the repercussions of the COVID-19 pandemic

United Arab Emirates: Guidance issued on mutual agreement procedure

The UAE has entered into approximately 136 double tax treaties, all of which contain a MAP article based on the provisions of article 25 of the United Nations Model Double Taxation Convention and the OECD Model Tax Convention.

QCB denies QLM from paying interim dividend

The company’s Ordinary General Assembly agreed to distribute an interim dividend to shareholders from under the profit account for the year 2021

UAE and Saudi central banks awarded 2021 Global Impact Award

Recognition is for digital cross-border payment initiative Project Aber

UAE's new capital rule could trigger further bank M&A in 'overbanked' market

The rules do not affect existing risk-weighted capital requirements.

Changes to the UAE Foreign Ownership Laws

The Amendment proposed that all business activities in the UAE are open for 100% foreign ownership except for a negative list of activities which would be determined by the relevant UAE authority.

Bain & Company creates a more sustainable, equitable and inclusive world

Bain & Company's 2021 Impact Report outlines the transformative impact the company is working to create--as a partner to its clients, as a champion for global communities and as a firm

Lebanon's banks stuck in reverse: jobs go, lending dives

About 3,000 bankers, or more than 10% of the banking industry workforce, have resigned or lost their jobs so far since a financial crisis flared up in late 2019

Saudi Arabia to Form Entity With $29 Billion in Equity Holdings

PPA, GOSI also own other assets including bonds, real estate

PwC's $12bln global strategy will create 6,000 Middle East jobs

Firm says its new investment will create 100,000 jobs globally in five years

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