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

Saudi Re named ‘Reinsurance Company of the Year’

The gross written premium grew 18 percent to SR935 million

Saudi EXIM Bank, HSBC and SABB sign MoU to advance trade & export finance and credit insurance collaboration

The scope includes the establishment of a framework for cooperation in export-import financing and insurance products

Mubadala Capital Commences Operations as a Wholly Owned Asset Management Subsidiary of Mubadala Investment Company

While Mubadala Capital is now operating as an asset, it remains fully owned by Mubadala

Saudi Arabia allocates independent budget to free zones authority

The authority had also signed with the Industrial Fund and Emaar the Economic City, a tripartite cooperation agreement to activate the industrial and logistical integration initiative

Israel's Sovereign Wealth Fund to begin operating mid-2022

The Sovereign Wealth Fund had been scheduled to operate from 2018 but was postponed several times, among other things because of lower than expected revenue from some of the fields in recent years.

Emirates Islamic rings market-opening bell to celebrate listing of $500mln sukuk on Nasdaq Dubai

The 5 years’ benchmark issuance rated A+ by Fitch Ratings was priced at 2.082% and was 2.4 times oversubscribed

BHM Capital reports net profit of AED 9.2mln in Q3 of 2021

Company continues to deliver strong results

Qatar and Rwanda Establish US$250M Pan-African Social-Economic Transformation Fund

The Fund’s Head Office will be based in Kigali and domiciled in the Kigali International Financial Centre (KIFC), which offers a safe

Dubai launches $272mln Future District Fund to invest in startups

The aim of the fund is to support emerging companies in the technology sector

General Reinsurance expands its Middle East presence with new office at DIFC

The establishment of General Reinsurance AG Dubai Branch reinforces DIFC as the reinsurance hub of choice

Emirates Development Bank, Dubai Industries & Exports sign agreement to boost industrial growth

This partnership aligns with EDB’s continuous efforts to enable the industrial transformation and economic diversification agenda in the UAE, build a knowledge-based economy, increase global competitiveness and sustainable growth, and support startu

GCC start-up & SME sectors recognised as key drivers

Become key factors for regional GDP growth, employment and innovation as regional economies recover

Deutsche Bank, UAE's FAB execute Middle East's first green repo transaction

Deutsche Bank will deploy the funds into green financing activities such as development of renewable energy

Bahrain Investcorp leads $17mln investment in India's Wingreens Farms

Omidyar Network India participated in the deal

Gulf Insurance Group raises KWD 60mln for Kuwait's first perpetual bond in KWD and first bond issued by an insurer

Kamco Invest acted as the Lead Manager & Structuring Advisor

Amlak Finance reports $294mln profit to September

The increase in income is attributed to arbitration settlements and debt settlement arrangements

Kamco Invest reports net profit of KWD8.2mn

Income generating properties were acquired in the UK and US on behalf of clients with a total value of USD343mn.

GGICO posts Q3 loss at $6.55mln

Investment company said losses of $478 million were due to impairment of assets in a challenging market and finance costs incurred by the company in previous years

Abu Dhabi Securities Exchange, Bahrain Bourse sign strategic partnership agreement

The two entities will introduce products and services including exchange-traded funds, smart order routing and cross-border direct trading

Turkey’s Akbank receives US$ 50 million EBRD loan to finance women-led firms

The funds are part of the EBRD’s newly expanded flagship Women in Business programme, which is providing a total of €600 million to women-led businesses through Turkish banks.

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