Monday, November 18, 2019

Getting To Know Mustafa Kheriba

Mustafa G. Kheriba

Opinion: The UAE's shift towards becoming a hub for financial innovation The country's financial sector shows how leading the pack leads to unprecedented value ....... The United Arab Emirates has emerged as a shining example of how a traditional oil powerhouse can diversify its sources of national revenues away from oil to other industries. ..... the banking sector in the UAE continues to be quite fragmented, with 23 domestic banks and 29 foreign institutions operating onshore, as well as a plethora of alternative finance companies that exist to serve SMEs and retail clients whom have exhausted traditional banking lines and offerings. ........ hydrocarbons sector will continue to be the compelling force behind anticipated growth for the near future ......... The UAE banking sector recently saw the merger of two dominant players, First Gulf Bank and National Bank of Abu Dhabi, creating one of the largest financial institutions regionally, with the breadth and scale to be competitive globally....... property markets across the emirates continuing to show softening trends in prices and depressed yields ....... Fintech is redefining modes of operation in the financial industry, and we are witnessing unprecedented levels of change and growth....... Fintech – which is now omnipresent in the industry – is providing the critical elements of swift action, more convenience and higher accessibility to the delivery of financial services. The influx is exceptionally transformational and continues to gain momentum........ The UAE has been at the forefront of such changes, with the introduction of e-banking, e-dirhams, online platforms and regulatory bodies such as the Abu Dhabi Global Markets and Dubai International Financial Centre serving as bright examples of how the country is becoming a hub for financial services innovations in the region. ........ as the country works towards a roadmap for the UAE’s centennial in 2071



THE GCC: OPPORTUNITY BORN FROM POSITIVE MOMENTUM Why the GCC is geared to become one of the most rewarding investment destinations in 2018 Sovereign wealth institutions in the region are among the wealthiest in the world, and the investment appetite for diversifying national sources of revenue has always been healthy. ....... we are seeing a fundamental change. The GCC is increasingly becoming a destination for capital deployment with ample opportunities for investment in various sectors such as hydrocarbons, healthcare, education and real estate to name a few. ........ The oil crisis has had a positive impact in allowing the regional regimes to explore new avenues of income. ...... A big theme I predict in 2018 is consolidation, as well as acquisitions outside of the region that will help with the diversification of funding sources and capital inflows. ...... the quiet before the storm of 2018. The region will see the best and fastest to come in the next few years........ The robust economies of the UAE and Saudi Arabia continue to lead the pack. ......... Saudi Arabia is in a positive momentum given the recent reforms implemented by HH Sheikh Mohammed Bin Salman the Crown Prince. The fight against corruption surge that has been going on in the last few months has given great hope to the people and to the positive growth momentum of the economy in general. The initiatives are moving Saudi Arabia away from secular and rigid Islam, to more moderate and mainstream Islamic beliefs and practices.................... He has been named among the top 50 MENA Fund Managers in the 2015 and 2016 annual survey conducted by MENA FM. Mustafa holds a BA from the University of Toronto, and an MBA from Ohio Dominican University with Magna Cum Laude honours.


A LETTER FROM ABU DHABI On innovation and why Brexit does not represent erosion of value Abu Dhabi has been aspiring to be the Middle East and regional hub for everything from regulated financial services through setting up Abu Dhabi Global Market, to arts and culture and the highly anticipated opening of the Louvre Abu Dhabi. It is where we call home, and from where we aim at conquering the world........ Spending time in Riyadh at the Future Investment Initiative was both inspiring and aspirational. His Royal Highness Prince Mohammad bin Salman laid out what he sees as beyond the Vision 2030 to outline a new remarkable city, Neom, and a bright future for the Kingdom. ....... the adamancy that moderate Islam is the only way forward and the accepted path, while eradicating extremism was key .......... Today, and after only six years of launching the company out of Abu Dhabi, Abu Dhabi Financial Group (ADFG) has become synonymous with opportunistic investing and an astute deal making. Our platforms now expand across multiple geographies with a particular focus on public equities, private equity, real estate, debt and technology. Early in 2011 we launched the first secondary private equity fund that served to provide liquidity to an otherwise cash crunched microeconomic environment. The fund focused on limited partners who invested in regional funds. Good assets held by ailing investors was the key message that helped us realize handsome returns by acquiring these positions at significant discounts to their intrinsic value....... At over $5 billion of direct assets under management, ADFG is considered a serious contender and a market maker. One of our key calls to fame is our real estate development activities in the UAE and London. Today we stand as the largest private developer of new builds in prime central London with over £3 billion worth of projects underway.

The reality of real estate Real estate has always been the surest way to accumulate wealth – and is likely to remain so. Yet, the financial crisis of 2008 changed the game, and brought a healthy dose of reality back to the real estate sector. Today, as investors look at this asset class again with renewed optimism, we need to ask ourselves if we have truly learned the lessons of the past five years. ........ real estate has provided investors with a stronger and steadier return than any other investment option. It has an uncanny ability to bounce back after a downturn and outperform other asset classes......... The 2008 crisis was a case of the pursuit of profit crowding out sensible investment decision making. ....... Many lost vast sums of capital when property values plunged by half. ...... Abu Dhabi and Dubai real estate sales showed a significant upward trend from Q4 2011 to Q2 2012. Despite a slowdown during the third quarter, year-on-year activity was still higher, suggesting that Abu Dhabi and Dubai’s real estate market is well on the path to recover.......... and with the absence of property taxes and income tax, the value becomes extremely competitive, especially compared to other major cities around the world........ thanks to more people investing in completed projects rather than speculating on off-plan developments. ....... The UAE’s sophisticated regulatory milieu, highly developed financial infrastructure, and a legal system increasingly following rules of global best practices, provides a healthy investing environment for both home buyers and investors alike. In addition to the solid commercial infrastructure, the time is right to capitalise on the underlying value waiting to be unlocked in the UAE real estate sector.

























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