The UAE announced yesterday it is introducing a new law to support the wealth management sector in the Gulf country. The Ministry of Finance issued a statement specifying that the new law, issued by decree, will give additional mechanisms for comapnies to better manage trusts and funds. The ministry added that "trusts form an important addition to the advanced legislative structure of the UAE." Younis Al Khoori, undersecretary of the Ministry of Finance, said yesterday the new law is aimed at supporting the wider wealth management industry in the UAE: "The Ministry of Finance issu...
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