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

Dubai watchdog stiffens oversight after private equity failures

Private equity industry in Dubai was rocked by the collapse of Abraaj in 2018

Qatar businessmen keen on Islamic finance in PH

“There is also a potential, and inward focus into the Philippines from Qatar, around the area of Islamic finance or Islamic banking,” he said.

Saudis targeted in new wave of financial scams

Fraudsters claim to be from trusted institutions such as central bank or Public Investment Fund

Supporting business: More than 320,000 customers benefit from UAE Central Bank's TESS

CBUAE report states role played by national banks in providing financial relief

Kuwait has no choice but to borrow to tackle deficit - audit body

The annual transfer will now be made only if Kuwait achieves a budget surplus

Lebanon gets more time to meet audit demand by creditors

But the central bank has handed over less than half of the documents needed to proceed with the audit.

Qatar Credit Bureau receives 2 ISO certifications for cybersecurity, business continuity

Sheikh Abdullah praised the centre's employees and its partners for their efforts in implementing the strategy and for their dedication to providing trusted solutions to their clients that helps develop the financial sector.

CBB warns banks’ customers on sharing information

In addition and as per prior alerts, customers are reminded that the CBB and banks would never request such sensitive information through telephone calls.

Saudi VAT increase: What are the long-term implications?

The kingdom hiked its value added tax (VAT) from 5 per cent to 15 per cent in July

Abu Dhabi introduces PPP regulations to support private sector investment in infrastructure

Abu Dhabi announced on 28 October 2020 that it will issue foreign direct investment licences to investors

The Impact of SARs Disclosures on Financial Institutions

The surprising releases of information from Suspicious Activity Reports (SARs) that were filed with the Financial Crimes Enforcement Network have sent shockwaves through the financial industry

Bahraini Court Fines Central Bank of Iran in Money Laundering Case

To date, the court has imposed a total of BD 330 million in fines against those found guilty in cases related to the Future Bank, confiscated financial transfer amounts worth $323 million, and issued custodial penalties against them.

Central Bank emphasises impact of Mohamed bin Zayed’s constant support during COVID-19 crisis on UAE’s current economic recovery

CBUAE stated that His Highness’ directives to support the UAE’s national economy and financial system during the COVID-19 crisis had an incredible impact on the country’s current economic recovery.

‘We have great admiration for our Saudi partners’ says UK envoy to Riyadh

Ahead of the G20 Riyadh summit, the UK envoy hails what he describes as a ‘modern partnership’

CBUAE and ADGM announce winners of FinTech Abu Dhabi 2020 Innovation Challenge

Solutions to be showcased during the FinTech Abu Dhabi Innovation Challenge Demo Day on 25 November 2020

UAE's FTA to issue Tax Residency, Commercial Activities Certificates for investors via its e-Services portal

Authority will begin receiving applications for the issuance of Tax Residency and Commercial Activities Certificates via its e-services portal as of November 14

Government should be the one to submit its accounts to audit: Lebanon central bank

The central bank said in a statement that Banque du Liban could not submit such information as it would then be in violation of the country's bank secrecy laws

CBO warns against unlicensed money collection

The conduct of money transfer business by non-licensed entities/individuals is illegal and incriminated pursuant to Oman laws, and customers depending on such illegal channels are vulnerable to the fraud risk and they may lose their hard-earned money.

Qatar Chamber calls for reviving GCC free trade negotiations with EU

The meeting discussed topics related to enhancing co-operation in the industrial and commercial sectors between member countries.

UAE construction sector gets some maneuver room with revised Bankruptcy Law

This will be quite visible in how the Arabtec liquidation is played out

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