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Private wealth in the UAE to reach $1 trillion by 2019

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Staff writer ▼ | April 4, 2016
Abu Dhabi Islamic Bank (ADIB) has presented its outlook on the investment climate to its top private banking clients at a number of events in Abu Dhabi, Dubai and Al Ain, held by invitation only.
ADIB
Investment   ADIB releases outlook on regional and global investment climate
Senior ADIB executives from ADIB's Private Banking arm explained to clients how to manage wealth effectively in times of economic and political volatility.

Mohammed Azab, head of Private Banking, and Shahzad Ali, head of Investment Advisory (Private Banking), presented the outlook to 100 clients in Al Ain, Abu Dhabi and Dubai.

The outlook covered the current state of play in the global and regional economy as well as its expected impact on the major investible asset classes - equity, sukuk, currencies, commodities and real estate – particularly, in the current low interest rate environment.

The seminar was attended by a cross section of ADIB's private banking customer groups.

Following the seminar clients were advised on matters of particular interest to them, such as the investment outlook in securities, the sukuk markets performance, what to expect in the current year and how to manage their portfolios to weather the current market challenges.

A recent report from Boston Consulting Group found that private wealth in the UAE is projected to grow at a compound annual growth rate of 10.7 percent and reach an estimated $1 trillion by 2019.

The report also found that the growth of talent in the UAE, along with the burgeoning opportunities for investment, is another reason for why private wealth is more likely to stay onshore in the future.

Shahazad Ali, Head of Investment Advisory (Private Banking) at ADIB commented: "In the current economic climate, continuous growth achieved by Dubai and Abu Dhabi is enhancing the attractiveness of the UAE as a safe haven for investors in the region as a whole.

"We recognise that people currently want to keep their money closer to home and are looking for specialist investments that can deliver returns while meeting ethical and Islamic investment criteria.

"ADIB is well positioned to guide investors in the region through these times of volatility and through seminars such as this, can better advise our clients on the key issues and themes that they need to be aware of in making investment decisions."​

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