Global billionaire numbers fall

Global billionaire numbers fall

There were 2,397 billionaires across the world in 2016 with a combined net worth of $7.4trn (£5.9trn, €6.85trn), lower than reported in the previous Billionaire Census survey.

Published : 23, Mar 2017
Holborn Assets ordered to immediately cease pension transfers

Holborn Assets ordered to immediately cease pension...Lock icon

The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.

Dubai’s DIFC slashes start up costs for new fund managers

Dubai’s DIFC slashes start up costs for new fund...

The Dubai International Financial Centre (DIFC) has scrapped the application fee for setting up as a fund manager in the free zone as competition with rival financial hubs in the region heats up.

Published : 20, Mar 2017
UAE minister sets prospective VAT for Gulf at no more than 5%

UAE minister sets prospective VAT for Gulf at...

VAT no higher than 5% will come into force from 1 January 2018 in the UAE and other Gulf States covering most products and services.

Published : 16, Mar 2017
UAE and Saudi Arabia life industry face consolidation says S&P

UAE and Saudi Arabia life industry face consolidation...

Regulatory pressures and fierce competition will lead to significant consolidation of the life industry in the UAE and Saudi Arabia over the next two years, according to a report by S&P Global Ratings.

Published : 15, Mar 2017
Dubai's DFSA signs cooperation with ESMA

Dubai's DFSA signs cooperation with ESMA

The Dubai Financial Services Authority (DFSA) and the European Securities and Markets Authority (ESMA) have signed a new information sharing and cooperation agreement.

Published : 23, Feb 2017
Market opportunity for critical health cover in UAE, Zurich finds

Market opportunity for critical health cover in...

Residents of the UAE are willing to spend more on critical illness insurance cover than the global average, but remain significantly under-insured, according to a new report by Zurich International Life, Middle East.

Published : 20, Feb 2017
Hansard's alliance with UAE insurer Union goes live

Hansard's alliance with UAE insurer Union goes...Lock icon

Hansard International launched its new strategic alliance with UAE-based Union Insurance Co on Thursday, which includes the provision of two new savings and investment products under the brand name ‘Infinity’.

Published : 9, Feb 2017
Soaring expat demand drives growth and new hires at ITA

Soaring expat demand drives growth and new hires...Lock icon

Rising demand from local and expat clients in Dubai coupled with improved IT systems are the driving force behind Investors Trust Assurance’s “phenomenal growth” in the region, according to Philip Story, the life company’s head of distribution for EMEA.

Published : 6, Feb 2017
Agnostic investors embracing Shariah products

Agnostic investors embracing Shariah productsLock icon

Agnostic and ethically-minded investors are increasingly turning to Shariah compliant products with asset managers happy to meet demand, says Jad Shams, head of Mena for Mirae Asset.

Published : 2, Feb 2017
Abu Dhabi finance centre to share information with Mauritius

Abu Dhabi finance centre to share information...

The regulator of the Abu Dhabi Global Market (ADGM), the UAE’s new international financial centre, has signed an agreement with the regulatory authority in Mauritius to strengthen cooperation and facilitate the exchange of information.

Published : 31, Jan 2017
Hansard shows Q2 double digit growth driven by LatAm and MEA

Hansard shows Q2 double digit growth driven by...Lock icon

Hansard Global’s Middle East and Africa business continued to drive growth in the second half of 2016, which was also boosted by Latin American and regular premiums.

Published : 26, Jan 2017
Hansard to add UAE products under Union Insurance deal

Hansard to add UAE products under Union Insurance...

Hansard International plans to launch two new products in Dubai as part of its recently announced alliance with the UAE-based general insurer, Union Insurance.

Published : 25, Jan 2017
Asia banks take dominant position in Dubai's DIFC

Asia banks take dominant position in Dubai's DIFC...

Chinese, Japanese and Indian banks now occupy the top slots in the Dubai International Financial Centre (DIFC) in terms of total assets, the chairman of the centre’s regulator has told a forum in Hong Kong.

Published : 24, Jan 2017
Hansard joins forces with IA regulated insurer in UAE

Hansard joins forces with IA regulated insurer...Lock icon

Hansard International has signed a strategic deal with a ‘major local insurer’ in the UAE which is regulated by the Insurance Authority.

Published : 19, Jan 2017
US shares details of 35,000 accounts with Israel under Fatca

US shares details of 35,000 accounts with Israel...

America's Internal Revenue Service (IRS) has shared details of more than 35,000 US accounts held by Israeli citizens with the Israel Tax Authority (ITA), according to local media.

Published : 17, Jan 2017
Reading the regulatory writing on the UAE wall

Reading the regulatory writing on the UAE wall...Lock icon

Regulatory changes in the United Arab Emirates pose a challenge to existing business models for IFAs in the region but Sean Kelleher at Mondial is one step ahead, and after years of hard work in preparing his business for the new requirements, he is ready to reap the rewards.

Published : 17, Jan 2017
UAE commission ban may face 'two-year delay'

UAE commission ban may face 'two-year delay'Lock icon

The UAE Insurance Authority (IA) is to issue a new draft and open a fresh consultation on plans to tackle high fees and hidden commissions in the life industry after requests for a 'two-year delay', sources have told International Adviser.

Published : 12, Jan 2017
OMI's Dolan succeeds Bradshaw as global sales director

OMI's Dolan succeeds Bradshaw as global sales...

Brendan Dolan, a veteran of the Middle East and Africa life industry, is to take over the position vacated by Marcel Bradshaw as head of sales worldwide for Old Mutual International, part of Old Mutual Wealth.

Published : 10, Jan 2017
DFSA rules out ban on commission, Insurance Authority update

DFSA rules out ban on commission, Insurance Authority...Lock icon

The Dubai Financial Services Authority (DFSA) has no proposals to ban commission, according to chief executive Ian Johnston.

Published : 4, Jan 2017

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UK to 'raid pensions' to fund U-turn on self-employed tax hike
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Holborn Assets ordered to immediately cease pension transfers
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