dubai regulator hands 50k fine to local bank
United Investment Bank in Dubai has been fined by the local regulator for a number of failings in relation to its custodial services.
Middle East
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standard life offers uae investors access
Standard Life is offering investors in the United Arab Emirates access to four mutual funds managed by its Indian joint venture business HDFC Asset Management.
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Will new UAE fund fees reduce competition?
Regulators in the United Arab Emirates recently announced plans to introduce fees for the distribution of investment funds within the country.
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barclays to sell uae retail banking operation
Barclays has announced it is to sell its retail banking unit in the UAE following the conclusion of a company-wide strategic review.
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hsbc cuts more middle east operations
HSBC, one of the Gulf's largest international banks, is to stop offering wealth management products in Bahrain, Jordan and Lebanon, as it continues to shed its less profitable operations globally, following a strategic review.
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ESCA fees could damage UAE asset management
The planned introduction of a fee regime for fund distributors in the UAE has been met with quiet dissent by some in the asset management industry.
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UAE fund distributor fees to be introduced
The Emirates Securities and Commodities Authority (ESCA) is to introduce a series of fees for those who wish to register and distribute funds in the United Arab Emirates.
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uae qatar asset managers to benefit from upgrade
International asset managers with a local presence in the United Arab Emirates and Qatar are expected to be among the main beneficiaries of the MSCI’s decision to upgrade the two countries to emerging market status.
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prosperity opens bangalore office
Abu Dhabi-headquartered advisory firm Prosperity has opened an office in India, the second UAE based IFA firm to do so this year.
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nedbank appoints bates to head middle east
Nedbank Private Wealth has appointed Andrew Bates to head its Middle East and Asia operation.
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many UAE advisers join lm action group
Seven IFA firms have formed the ‘UAE chapter’ of an adviser-led organisation representing clients who invested in funds run by failed LM Investment Management.
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acuma to remain independent within devere
The chief executive of Acuma, a Dubai-based wealth manager acquired by deVere Group chief executive Nigel Green earlier this month, has confirmed the business will remain independent within the company.