What sectors and investment strategies are promising for family offices today and why?
Family-owned businesses make up 90 percent of private companies in the UAE, according to a report by the UAE Ministry of Economy. They are crucial to the economy and provide employment opportunities for over 70 percent of the private sector workforce. Family-owned businesses also play a significant role in Dubai’s economic diversification. They have a strong presence in various sectors such as real estate, construction, retail, hospitality, tourism, manufacturing, finance, healthcare, education, and technology. A new report by KPMG and Agreus UAE predicts that financial wealth in the UAE, generated by family offices and ultra-high-net-worth individuals (UHNWIs), will increase to 46 percent by 2026. In addition, it forecasts family offices expected to contribute $500 billion to the UAE economy by that year.

How do you foresee the future of family offices evolving, and what trends will shape the industry in the coming years?
The UAE’s family offices industry is set to undergo significant changes driven by various trends and factors. The country’s tax-efficient policies, stable economy, strategic location, and numerous free trade zones make it an attractive destination for family offices. The increasing number of millionaires and top investors flocking to the region reinforces its growing popularity as a family office hub. This is due to various factors such as access to skilled professionals and talent, favorable regulatory framework and legal structures. Innovative policies such as the UAE investment and golden visa programs are also contributing factors.

How is Al Fardan Exchange adapting to the rapidly changing financial landscape and embracing technological innovations?
We recognize the imperative of adapting to the evolving financial landscape, and our approach is anchored in embracing technological innovations. We have strategically integrated advanced digital solutions into our operations to enhance efficiency and customer experience.

Amidst increasing globalization, how does Al Fardan Exchange navigate regulatory challenges while expanding its services?
Al Fardan Exchange’s operational strategy strongly emphasizes navigating regulatory challenges in the face of globalization. As a remittance and payment solution company that is licensed by the Central Bank of the UAE, we prioritize compliance with both local and international regulations. Our commitment to maintaining excellent relationships with major international organizations ensures we can move funds seamlessly within a robust compliance framework. Across all branches, we have implemented world-class Anti-Money Laundering (AML) practices, aligning with guidelines from the Financial Action Task Force (FATF). Upholding the highest standards, we foster trust and transparency in our global financial services by providing timely due diligence information and observing KYC principles.

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