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.
UAE
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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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Conflict drives investors towards
The UAE’s perceived status as a ‘safe haven’ has seen its private capital increase by nearly 30% this year, as investors relocate assets en masse in a bid to shelter themselves from global turmoil.
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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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Licensed providers and brokers named
The UAE Insurance Authority has published, for the first time, a full list of companies it has licensed to conduct insurance business in the country.
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Thousands of Standard Chartered UAE accounts
Small and medium enterprise customers in the UAE have been told by Standard Chartered that their accounts are in the process of being closed.
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St Jamess Place says UAE office plans
FTSE 100-listed wealth manager St Jamess Place (SJP) has given its clearest indication yet that it has plans to open an office in the United Arab Emirates (UAE).
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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.
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Standard Chartered may face legal challenges
Standard Chartered may face legal action in the United Arab Emirates after the New York Department of Financial Services reached an agreement with the bank on Tuesday for it to exit “high-risk client relationships” within certain business lines in its UAE branches.
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fgb set up in south korea
FGB, one of the key banks in the UAE, has set up a new representative office in Seoul, South Korea.
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Your cut out and keep guide to the changing
From the UAE to Singapore, the asset management industry is witnessing huge regulatory change. Here KPMG provides a concise breakdown of what you need to know.
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Zurich and UAB sign five year insurance agreement
Zurich and United Arab Bank (UAB) have signed a five year general insurance distribution agreement.