forth capital to set up in the difc
Forth Capital has received a decision in principle to set up in the Dubai International Financial Centre and expects to start doing business there as an independent investment and pensions adviser next month.
Dubai
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DIFC hosts Hong Kong delegation
The Dubai Financial Services Authority has hosted a delegation of government, financial and business leaders from Hong Kong.
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AES recruits Dubai employee benefits team
AES International has launched its Middle Eastern employee benefits team following the introduction of new legislation making employee health insurance in Dubai compulsory.
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difc celebrates 10 year growth into global hub
The Dubai International Financial Centre (DIFC)celebrates its 10th anniversary this month, after growing the number of companies registered with it over this decade to 1,039.
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UAE advisers to form trade body
A group of leading Insurance Authority (IA) licensed advisers in the UAE are working to form an association, in light of the new regulatory regime due to come into force this month.
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Standard Life pulls out of Middle East
Standard Life International is to close its office in the Dubai International Financial Centre at the end of January next year.
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Emirates NBD reaches record assets
Emirates NBD AMs recent SICAV push has led its assets under management (AuM) to pass the $2.5bn mark, a 100% growth for the company in little more than two years.
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Growth continues for Standard Life in Asia
Inflows into Standard Lifes Asia and emerging markets division jumped by almost 20% during the third quarter, although the company warned regulatory change in Hong Kong and Dubai will impact future new business.
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First Lux bank in DIFC
Banque Internationale-Luxembourg, has become the first Luxembourg bank to open in the DIFC, backing the grand duchy’s efforts to become the primary centre for Islamic funds outside of the Middle East.
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Ex Leeds MD imprisoned in Dubai faces
The ex-managing director of Leeds United currently imprisoned in Dubai has been hit by further allegations of fraud as his previous employer claims to have “sworn witness statements” incriminating him.
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Ailing bank sanctioned by Dubai regulator
The Dubai Financial Services Authority (DFSA) has restricted ES Bankers Dubai (ESBD) from taking or paying deposits after its operations were “seriously compromised by a fellow bank.
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Private bank loses $200m case in DIFC
DIFC-based Bank Sarasin-Alpen has lost a significant case against a wealthy Kuwaiti family, after it was found to have mis-sold investments worth $200m during the 2007/2008 financial crisis, with its CEO singled out for particular criticism.