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

Banque Misr to acquire capital shares of CI Capital

In August 2020, Banque Misr purchased 9% of CI Capital, raising its stake to 24.70%

Egypt’s central bank issues LE 20B on T-bills Thursday

The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday, Feb. 4, to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respective

UAE's FTA clarifies tax rules for owners of multiple establishments

Authority clarifies whether entrepreneurs should get a registration for every 'sole business'

Dollar losses to continue during next 2 years: National Bank of Kuwait exec

The fund plans to make 10 to 12 investments of between $15 million and $50 million over the next eight years, Yaser Moustafa, senior managing director of NBKCP, told Arab News on Tuesday.

Qatar and Rwanda signs double tax avoidance agreement

The agreement was signed by His Excellency Ahmed bin Issa Al Mohannadi, the GTA's President and His Excellency Francois Nkulikiyimfura, Rwanda's Ambassador to Doha, in the presence of His Excellency Ambassador Abdulrahman bin Mohammed Al Dosari,

Former Dubai banker fined $165,000 for anti-money laundering breaches

Former employee found to have operated offshore firm while working with DIFC-based bank

Saudi Arabia to launch new wave of judicial reforms

Reforms aimed at Personal Status, Civil Transactions, Penal and Evidence laws

Shareholders to vote on Saudi's NCB and Samba merger next month

NCB shareholders will also vote in increasing the bank's capital to $13bln

Owners of multiple 'sole businesses' need have only one VAT registration: FTA

But this will not apply to one-man company formations,says tax regulator

Egypt capitalises on bond boom with $3bn borrowing plan

Low borrowing costs and hopes of a vaccine-driven global economic rebound are emboldening investors to bet on risky assets.

Saudi asset management industry resilient in 2021: KPMG

“The industry is well prepared to play a pivotal role in providing the necessary impetus to the overall economic recovery.”

Yemen government appoints Ernst & Young to audit central bank - statement

Yemen’s government statement said Abdulmalik ordered a thorough and urgent investigation on how the Saudi deposit was spent.

Banks in Lebanon may seek more time to raise capital, repatriate funds from abroad

This is the general impression some bankers and financial analysts gave as BDL’s February 28 deadline approaches

The Arab Monetary Fund holds a virtual workshop on the US Dollar inclusion in Buna

More than 200 senior officials will attend, representing central banks and a wide spectrum of financial institutions from the region and beyond

Job loss protection schemes being dropped by some UAE insurers, credit card issuers

Sharp rise in such claims after COVID-19-elated job losses hurt insurers

Swiss Lebanon Probe Grinds On

Beirut represents the next hot spot that may backfire for Switzerland: as much as $2 billion reportedly made its way to Swiss offshore accounts, amid a financial and economic crisis.

Law firm praises Saudi Arabia tax amnesty extension

If it is settled between April and May, there will be 75 percent exemption of fines

Saudi Arabia selected to chair key IMF committee

The fund’s executive board is made up of 24 directors representing the 190 member countries

JRE, Kilinc Law & Consulting, Al Sulaiti Law Firm sign MoU

The major thrust of the MoU is to promote mutually beneficial cooperation between Just Real Estate, Kılınç Law and Consulting and Al Sulaiti Law Firm

Two Abu Dhabi execs fined Dhs8bn, jailed for 15 years in money laundering case

The two men, who have not been named, reportedly took advantage of their position in the company and misused public funds

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