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

Bahrain probes $1.3bn Iranian money laundering network

Al-Buainain alleged that Future Bank and its controlling shareholders were involved in systematic and widespread violations of banking laws in Bahrain.

Bahrain-based banks are ready for Open Banking

The Bahrain OBF included the supporting technical standards, including APIs, customer experience guidelines, cyber security standards, and other relevant operational standards.

State bodies, investors and civil society make case for more women on boards of Turkish firms

Turkey’s listed companies are lagging their global peers, in terms of inclusion of women on boards, with almost 40 per cent of boards in 2019 consisting of men only.

Rare Middle East Push for Women on Boards Runs Into Culture Wall

Rule asks companies to have at least one woman on their board

Ajman's Department of Finance trains staff on how to run effective meetings

The programme aims to improve the skills of the department's team leaders in the effective planning of meetings, measuring their quality and evaluating their outputs, according to modern, scientific, and practical methods

Al Salam Bank Partners with the Ministry of Housing and Eskan Bank for the Danaat Al Baraka project

As part of the "Mazaya" Social Housing Scheme

Saudi businesses must submit excise tax returns before May 15

The excise goods tax in Saudi Arabia is imposed on goods that have negative effects on public health or the environment.

KPMG renews commitment to Special Olympics in the region

National director of Special Olympics UAE Talal Al Hashemi noted his organisation’s commitment to building value-driven collaborative relationships.

Bank Muscat encourages customers to use digital channels to transact safely

The bank pointed out that the bank’s e-channels and digital channels are continuing to play a key role in promoting health and safety of everyone during a period of enhanced social distancing

Al Rayyan municipality tops in building permit issuance in April

Umm Slal municipality issued 30 permits, Al Khor municipality 27 permits, Al Sheehaniya municipality 14 permits while Al Shamal municipality issued 10 permits.

Qatar freezes assets of six citizen businessmen

The six were named in a central bank circular distributed to financial institutions late last week

DIFC Courts boosts 'paperless' mission withadoption of electronic seal 'Ethaq'

Electronic seal 'Ethaq' is a custom-built initiative, powered by Dubai Electronic Security Center (DESC) to enable authenticity of entities' documents through UAE PASS, the secure national digital identity platform of the UAE

Banque Misr, MoneyFellows to provide fintech services

Bank will be providing MoneyFellows with payment services to develop together new disbursement

Tabreed selects Deloitte Consulting for SAP transformation

SAP expertise aside, Deloitte was picked as implementation partner for its broader digital capacity to oversee far-reaching changes in process design, change management and targeted operating model improvement.

COVID-19 impact: UAE reduces penalties on VAT, excise tax

The new provisions will be applicable 60 days as from April 28, 2021

Qatar finance minister arrested over alleged embezzlement -statement

Emadi steered Qatar’s economic policies during the 2014-2015 oil price crash that prompted the tiny nation – as well as other Gulf countries – to accelerate plans to diversify the economy.

Kuwait may take 4 years to introduce personal taxes

Political gridlock and a lack of expertise holding up plans

Qatar Emir sacks finance minister over corruption charges

Ali Shareef Al Emadi arrested over alleged abuse of power and misuse of public funds

Turkish central bank sticks to high interest rates after inflation rise

The central bank also said that past rate hikes – including as recently as in March – have begun to cool demand in the economy.

Jordan fires Basem Awadallah from Arab Bank administration

He was detained last month over an attempt to destabilise the kingdom's security.

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