Aberdeen has become the first international asset manager to open an office in Abu Dhabi Global Market (ADGM), the new international financial centre in the capital of the UAE, after being granted a license by the Financial Services Regulatory Authority (FRSA).
Former Brooklands Pensions chief operating officer Mark Sanderson is to spearhead the development of Praemium’s retirement business in the Middle East and other key expat markets.
Old Mutual International has moved to reflect the changing trend towards more flexible products in the offshore market by closing two of its contractual savings plans in three key regions.
Brooks Macdonald, the specialist discretionary fund management provider, has announced its first international strategic alliance, signing a deal with Dubai-based advisers Abacus Financial Consultants.
Bermuda-based Northstar Financial Services, which recently opened an office in the Dubai International Financial Centre (DIFC), has launched a range of model portfolios specifically designed for the Middle East.
The United Arab Emirates has ruled out the imposition of any income tax on individuals as its seeks alternative sources of revenue to counter the impact of falling oil prices on the government’s budget.
Saudi Arabia’s Capital Market Authority (CMA) board has given the green light to foreigners in the Kingdom to trade Real Estate Investment Trusts (Reits) on the Saudi bourse.
Geneva-based Pictet Asset Management has opened a new office in Dubai’s International Financial Centre (DIFC).
Dubai-based senior wealth manager Nicholas Thompson has left Finsbury Associates and joined rival firm Holborn Assets as one of its senior partners, along with five new advisers.
New mutual fund registration rules introduced by the UAE’s Securities and Commodities Authority (SCA) in August, and currently within a six-month implementation grace period, are expected to come with a series of sanctions for breaches of the regime.
Rising rents in the Dubai International Finance Centre (DIFC) and the cost of regulatory compliance maybe to blame for the sudden spate of departures from the free zone by three financial service providers.
Kuwait’s Ministry of Commerce and Industry has rejected a proposal to establish a separate body to oversee the insurance industry, despite wide-sweeping reforms to sector’s capital adequacy requirements.
