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

CBUAE maintains the base rate at 5.40%

This decision was taken following the US Federal Reserve’s announcement today to keep the Interest Rate on Reserve Balances (IORB) unchanged

Saudi Central Bank and BIS co-host meeting on reserve management in Riyadh

The event served as a platform for participants to exchange insights

BlackRock signs agreement with Saudi wealth fund to anchor new Riyadh investment platform

The investment team will be a combination of existing BlackRock personnel and new, on-the-ground staff.

Two jailed for laundering cash in suitcases from UK to Dubai

The total amount of criminally acquired cash flown out of London to Dubai was around £104m

HEC Paris in Qatar partners with QCB to launch Central Banking Essentials Program

Developed in partnership with QCB, the program’s objective is to raise the organization-wide baseline understanding of QCB’s purpose and operations across functional and divisional lines.

UAE Labour Law: Six flexible salary payment options for UAE workers

Choose from monthly, weekly, commission-based pay, or more, as long as your employer agree

UAE-Kenya deals: ADQ to establish investment framework

In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year-on-year to $3.1bn

Network International obtains Stored Value Facility licence from UAE Central Bank

The Central Bank of the UAE issued the Stored Value Facilities Regulation in 2020

Baker McKenzie advises Allianz Group on the sale of its stake in Allianz Saudi Fransi Cooperative Insurance Co. to Abu Dhabi National Insurance Company

The transaction has closed on 17 April 2024 after clearing regulatory approvals.

The Central Bank: Banks & finance companies may defer personal and car loans installments for six months to overcome the repercussions of the weather condition

Rain -Damaged Vehicles & Homes are Covered by Insurance Companies

5-years jail for Kuwaiti in stealing expat cash from bank

The accused took advantage of the victim’s lack of knowledge of the Arabic language, as he was of Iranian nationality, and persuaded him to invest and earn monthly profits in a deposit scheme.

Saudi EXIM Bank, Swiss counterpart sign deal to boost non-oil exports

The Kingdom's primary exports to Switzerland included pearls, precious metals, and aluminum, valued at $587.57 million and $139.39 million, respectively.

Deloitte launches Kiyadat to advance GCC national talent into leadership roles

In Arabic, "Kiyadat" translates to "Leaders", symbolizing the commitment to fostering national talent and paving their way towards leadership roles

ADGM wins 'Most trusted financial centre brand, Middle East' at Global Brand Awards 2024

The esteemed Global Brand Awards, an annual ceremony organised by Global Brands Magazine (GBM) headquartered in England, celebrates international brands that excel across various industries annually

Greenberg Traurig Becomes Fully Incorporated in Kingdom of Saudi Arabia

Final government approval coincides with the firm’s first anniversary of KSA operations

UAE corporate tax: Exploring four major updates

With UAE Pass now integral to tax portal access, businesses must ensure they understand the requirements

Saudi finance minister to lead Kingdom’s delegation at IMF-World Bank Spring Meetings

The minister will also take part in the meeting of the World Bank Development Committee to discuss the global development plans implemented by the entity.

stc pay becomes STC Bank with Saudi Central Bank approval

STC Bank is committed to offering Sharia-compliant banking solutions, prioritizing security and customer protection by leveraging advanced financial technologies.

World Bank doubles Turkey’s exposure to $35 billion: minister

Turkey will become the third largest recipient of concessional World Bank loans in the world.

Baker McKenzie closes deal for ZCCM Investments Holdings on $1.1bln copper mine partnership for Mopani Copper Mines

ZCCM-IH took full control of Mopani from Glencore in 2021

Legal, Tax, Regulation & Compliance