Major charitable donations among ultra-high net worth (UHNW) individuals rose to an all-time high last year, growing by 3% since 2014, according to a new report by Dubai-based consultancy firm Arton Capital.
Expats in the UAE have been advised that banks and other financial institutions will be contacting some of their customers to collect information about their tax status in early 2017, reports local newspaper Gulf News.
AxiomSL, a firm specialising in regulatory reporting and risk management, has announced it will be opening its first Middle East office in the the Dubai International Financial Centre (DIFC).
Leading figures from the financial services industry in the Middle East give their views on the proposed cap on commission and the prospect of commission disclosure coming to the region.
The price of Brent crude oil surged above $50 (£40, €47) per barrel as rumours became reality that OPEC members had finally reached an agreement.
Financial advisers in the Middle East are finding clients increasingly reluctant to use their services, partly due to growing geopolitical uncertainty but also because of regulatory changes and poor value-for-money products from asset managers and life companies.
The UK is set to benefit from expats and investors in the Middle East moving their money out of the region amid rising concerns of Saudi Arabian political and economic instability and growing fundamentalism in surrounding states, says Nick Rucker, partner at law firm Irwin Mitchell Private Wealth.
Life and investment product providers, fund managers, and intermediaries need to swiftly absorb what the potentially game-changing regulation for the UAE’s life insurance industry means for their business and be ready to provide their feedback before the 30 November cut-off date, say Tom Bicknell, Wayne Jones, and Peter Hodgins of international law firm Clyde &…
Indemnity commissions are to be prohibited under new rules proposed by the UAE’s Insurance Authority which regulates life insurance companies and family takaful businesses.
Man Group, the world’s biggest listed hedge fund, plans to close its office in the Dubai International Financial Centre and service its Middle East clients from London.
Forth Capital founder and chief executive Tom Tracy explains the firm’s departure from Dubai and its plans to pivot towards its most profitable and new markets.
The main life insurance regulator in the UAE has unveiled plans to tackle high fees and hidden commissions across the industry after receiving what it described as “an alarming amount of complaints from policyholders”.
