Wealth Protection and Creation are Integral Part of Growing Banking Business Models

Doha Bank hosted a knowledge sharing session “Enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event included Mr. James' Robertson, Head of Corporate and Wealth Managing Partner Taylor Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property.

Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies growth at 4.5 percent for 2017. We have seen geopolitical developments increasing in the global space. We have also seen announcement of elections in UK in June 2017. The forthcoming French elections is also an important development to watch. Qatar growth expected to be at 3.4% this year. In response to fed action most of the GCC central Banks have hiked rates in last December and in March this year. Some of the GCC Sovereigns such as Saudi Arabia, Kuwait and Oman have come up with bond issues this year and fiscal reforms are going to continue in GCC. The progress is also happening on VAT implementation across GCC. There are risks associated with political uncertainty, trade frictions and effects from a volatile dollar. We’re entering a new stage of international global relations where national policies could shape how globalization eventually develops. Global financial wealth in the world is close to$168 trillion. The Middle East North Africa was at $8 trillion. GCC is home to more than 4,500 ultra-high net worth (UHNW) individuals.  Out of Global SWF wealth assets worth $6.5 trillion, GCC SWFs have assets close to $3 trillion.”

Qatar Exchange CEO, Rashid Bin Ali Al Mansoori gave insight on developments in Qatar. He said “Qatar Exchange had got MSCI in 2014 and we are still strong despite the low oil price. We are planning to introduce a number of products this year which will improve the investor’s participation. We are also having a well regulated environment for the benefit of investors.”

Mr. James Robertson, Head of Corporate and Wealth, Managing Partner, Taylor Wessing spoke on “Financial and Succession Planning.” He covered issues for clients such as UK property tax changes, Safe havens and offshore jurisdictions, Citizenship and visa matters and importance of trust and family institutions. He gave insight on Stamp duty land tax in UK and post Brexit trends. He also highlighted how global affairs could be planned in the light of relevant visa matters.”

Mr. Fahmi Algussein, CEO, Amwal gave insight on “The Crown Jewels of EM “. He gave insight on GCC economies and their economic fundamentals. The long term growth is going to be driven by region’s diversification initiatives as well. He also highlighted on Saudi capital market reforms and other fiscal reforms. He gave comparison between GCC markets and global markets on various parameters.”

Mr. Rami Jamal, Portfolio Manager, Amwal gave insight on Qatar economic fundamentals and the benefits of Exchange traded funds (ETFs), its comparison with mutual funds and stocks. He also explained Qatar Exchange trade funds (QETF)’s key features.

Ms. Nicole Perry Associate Director of Investment, Grant property gave insight on UK economy fundamentals and the key attributes such as globalized economy, diverse population, stable nation and world class education system. She also gave insight on UK residential market outlook post Brexit and the potential opportunities.