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

First Abu Dhabi Bank raises $500m through Islamic bond

The latest deal is the first global sukuk issuance in 2023, the lender says

Emirates NBD & Prem Watsa-led Fairfax Group may join IDBI Bank race, stock gains

The government and LIC together are looking to sell 60.72 per cent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later ex

GCC steps help migrants remit money home: World Bank

Employment conditions for migrants were robust for the first months of 2022, boosted by labour shortages in the hospitality and health sectors of high-income countries, while windfalls tied to higher oil prices benefitted the GCC, which boosted demand for

Egyptian Banks Collect EGP 24 Billion from 25% Certificates within Two Days

The core inflation rate in Egypt reached 21.5% on an annual basis in November 2022, compared to 19% in October 2022.

NBK announces Al Jawhara prizes are now worth KD 4,925,000

Weekly and grand prizes increased 4 times

Growing its network, Bank Nizwa announces new branch opening in Mawaleh

Strategically located, the new branch constitutes the Bank's latest step towards redefining the banking experience

Six Kuwait banks join GCC Cross-border Payment System

The Governor added that AFAQ is optimized to process remittances in local GCC and other currencies in a short time and at reduced costs to customers in a safe and stable environment, and is part of a regional infrastructure operated and developed by Gulf

Wio Bank partners with FAB to facilitate cash and cheque deposits

The Wio Business app has been integrated with the FABePay portal to enable users to initiate cash or cheque deposits in a simple and convenient manner directly in the app, providing a unique reference number to be used on every deposit transaction.

Egypt has third best banking system in Arab world in terms of assets, deposits, and loans: UAB

UAB stated that the size of the banking sector in Egypt tripled during the past five years, between August 2017 and August 2022

Banque Misr sees 1567% surge in daily USD withdrawals abroad

That average surged to $3.1 million daily in November and $10 million in December

UAE Central Bank cancels insurance broker’s registration

Recently, the institution also imposed financial sanctions on exchange houses for violating the laws and regulations of the country

International gangs, apps hit Kuwait – Bank accounts targeted

Despite the repeated warnings of the Ministry of Interior over the past month about remote access applications, victims are still falling every day until the total number of complaints received by the Public Prosecution exceeded 300 complaints pertaining

Burgan Bank Assigns the responsibility of managing the Financial Institutions Department to Mr. Mohammed Najeeb Al-Zanki

Mr. Al-Zanki joined Burgan Bank in 2010 and held the position of Senior Corporate Relationship Manager until 2015

CBE warns of misuse of bank cards, fraud to obtain foreign exchange without need for it

We monitored the use of some credit, debit cards in operations abroad, despite their holders being inside the country: CBE

Last chance for registration in award winning 'Tamakan' training program supported by NBK

For the fourth year in a row

Central Bank of Egypt sets new measures for fraudulent and abusive use of credit, debit cards overseas

The Central Bank of Egypt (CBE) has set new measures meant to ban the fraudulent and abusive use of credit and debit cards outside the country.

First Abu Dhabi Bank teams up with ports, customs, freezones for cashless payments

Bank says it is a step towards Dubai’s shift to cashless economy

Commercial Bank names first two winners in ‘We’re Seeing Double’ campaign

Four more lucky winners will get the chance to win their salary or personal loan repayment paid for 12 months, in two more draws to be held on February and April 2023.

ADIB receives the e-Marketplace Champion Award from blockchain-powered e-Marketplace TradeAssets

Around 130 deals are secured through the platform with total value of closed deals till date is over USD 128 million

UAE banks’ credit fundamentals strong for 2023

Analysts at Fitch expect impairment charges to “fall further on the supportive macroeconomic backdrop and recovering real estate prices, and capital buffers will remain adequate.”

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