Latest news with #AlirezaValizadeh
Mid East Info
28-01-2025
- Business
- Mid East Info
Middle East families to experience USD 1trn transfer of generational wealth by 2030 - Middle East Business News and Information
New innovative report by DIFC Innovation Hub, Julius Baer and Euroclear identifies how technologies redefine legacy planning This collaborative effort by two of the most influential institutions within the wealth transfer space and the DIFC Innovation Hub compiles insights from family offices, financial advisors, legal experts and technology startups from across the globe Report is the latest initiative from DIFC and its partners to help family businesses manage their wealth. Dubai, UAE:January 2025: DIFC Innovation Hub, the region's largest innovation ecosystem; Julius Baer, the global Swiss wealth management firm; and Euroclear, the world's leading financial markets infrastructure provider, today launched a whitepaper that outlines how technologies are changing the transfer of wealth and highlights opportunities to streamline the process, particularly in the Middle East. The Navigating the Future of Inheritance report addresses the complexities of inheritance at a time when the region stands on the verge of a historic transition of USD 1trn (AED 3.67trn) in wealth to heirs and extended family members. This includes High Net Worth individuals in the United Arab Emirates who have seen their assets grow by 20 per cent to reach USD 700bn in value since 2022. Digital technologies such as Artificial Intelligence, Smart Contracts, Distributed Ledger Technology, and Tokenisation offer promising avenues to reduce friction, improve transparency, and ensure secure, efficient asset transfers. Despite these new technologies the report identifies that only 24 per cent of High-Net-Worth Individuals currently have a full estate plan in place, highlighting the urgent need for improved inheritance processes. Over half of families (53 per cent) believe that it is just too complicated and too time-intensive to gather, record and plan how to allocate assets across potentially large families. The report reinforces the importance of close collaboration between wealth managers, family offices, regulators, and service providers in creating a robust platform for wealth transfer and driving adoption. Mohammad Alblooshi, CEO of DIFC Innovation Hub, said: 'We stand on the crossover of a monumental generational wealth transfer in the Middle East in an era when wealth portfolio compositions are increasingly complex, driven by ever-widening asset categories and an appetite towards investments in digital assets. This report is the fruit of our partnership with Julius Baer and Euroclear, aiming to leverage this inflection point and drive meaningful change along the inheritance journey. Our goal is to harness emerging digital technologies to tap into the opportunities ahead and position the Middle East as a beacon of best practices in the wealth transfer space.' Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, said: 'Generational wealth transfer is gaining momentum in the UAE and the wider Middle East, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. As we work closely with current and future generations, it becomes more important than ever to take into account the evolving landscape with the onset of digital assets. We increasingly see the potential of technology particularly blockchain and tokenisation in enabling a secure and transparent process for wealth transfer. I am particularly pleased that we were able to collaborate with DIFC and Euroclear on the eve of our 20th anniversary celebrations on this innovation paper showcasing how we can work towards building the future of finance together.' Isabelle Delorme, Global Head of Product Strategy and Innovation, Euroclear, said: 'We are extremely pleased to take this next step with the DIFC Innovation Hub and Julius Baer in the launch of this report with the objective to explain the evolving inheritance landscape and its transformative potential. Together we have crafted a comprehensive guide to address the unique regional challenges and vast opportunities within this sector. Our ambition is to empower financial stakeholders and policymakers to embrace innovation, promote efficiencies and build a future-ready inheritance framework that benefits generations to come.' Beyond the future of inheritance, the issues and needs of a family business that has been operating for one or two generations may be very different from those of an established multigenerational family business. To cater to these varied needs, DIFC offers a flexible range of family business structures and solutions, which have been covered in a series of new guides. The first two guides in this DIFC series were prepared in collaboration with DIFC Family Wealth Centre partners including M/HQ, Equiom, Clyde & Co, and KENDRIS. 'Understanding DIFC Foundations: A Key Tool for Wealth Structuring and Legacy Planning' and 'Understanding DIFC Trusts: A Comprehensive Guide' are available for download for advisors and families. The series follows the DIFC Family Wealth Centre's first publication titled 'Prosperity Across Generations: Unlocking the power of DIFC for families', to empower families with access to knowledge and expertise on structures, governance, wealth management, succession, and estate planning in Dubai and DIFC. Reflecting the increasing interest from families across the globe to manage their business growth through DIFC, this guide is now available in Arabic, English, Mandarin, and Spanish.
Khaleej Times
28-01-2025
- Business
- Khaleej Times
Middle East families set for $1 trillion wealth transfer by 2030
Families in the Middle East, in particular across the GCC, are preparing for a monumental transfer of generational wealth estimated at $1 trillion by 2030. A report released by the DIFC Innovation Hub, in collaboration with Swiss wealth management firm Julius Baer and financial markets infrastructure leader Euroclear, sheds light on how emerging technologies are reshaping legacy planning and wealth transfer processes, particularly in the Gulf region. This report, titled 'Navigating the Future of Inheritance,' identifies cutting-edge digital technologies — such as artificial intelligence, smart contracts, distributed ledger technology, and tokenisation — as vital tools that can streamline inheritance processes. These technologies promise to reduce friction, improve transparency, and enhance security in asset transfers. However, despite the potential benefits, a significant gap remains: only 24 per cent of HNWIs currently have a comprehensive estate plan in place. Moreover, 53 per cent of families surveyed expressed that the complexities of gathering and allocating assets across larger families make the planning process daunting and time-consuming. The impending wealth transition will take place mostly across the GCC countries, particularly among high net worth individuals (HNWIs) in the UAE. According to McKinsey, nearly $1 trillion is projected to be transferred across generations in the GCC by 2030, leading to an increased awareness among families on the need for intergenerational wealth planning. As many family businesses in the GCC are beginning to transition into second and third generations, ensuring a smooth leadership change has become crucial for business continuity. Therefore, the pressure of establishing a succession plan has become a growing concern, with many HNWIs not having an inheritance plan in place. Since 2022, the wealth of HNWIs in the UAE has surged by 20 per cent, now totalling around $700 billion. This dramatic increase necessitates a reevaluation of how families manage and transfer their assets, the report said. 'The findings of this report underscore the urgent need for improved inheritance processes,' said Mohammad Alblooshi, CEO of the DIFC Innovation Hub. 'We are at a pivotal moment in the Middle East, where generational wealth transfer is becoming increasingly complicated, driven by diverse asset categories and a growing interest in digital investments. Our collaboration with Julius Baer and Euroclear aims to harness technological advancements to facilitate a smoother inheritance journey and position the region as a leader in wealth transfer best practices.' Alireza Valizadeh, CEO of Julius Baer (Middle East) Ltd, said: 'The generational wealth transfer momentum in the UAE and the broader Middle East presents unique opportunities. Our firm, rooted in family business principles, is well-positioned to guide clients through this evolving landscape, especially with the rise of digital assets. Technologies like blockchain and tokenisation are pivotal for creating secure and transparent wealth transfer processes. Collaborating with DIFC and Euroclear enhances our ability to contribute to the future of finance.' Isabelle Delorme, global head of Product Strategy and Innovation at Euroclear, said: 'This initiative aims to explain the evolving inheritance landscape and address its unique regional challenges. Our goal is to empower financial stakeholders and policymakers to embrace innovation and build a future-ready inheritance framework that benefits generations to come.' The report also highlights the distinct needs of family businesses at various stages, from those operating for just one or two generations to well-established multigenerational enterprises. To support these diverse requirements, the DIFC offers flexible family business structures and solutions, detailed in a series of new guides.
Hi Dubai
28-01-2025
- Business
- Hi Dubai
Middle East Families to Experience $1 Trillion Transfer of Generational Wealth by 2030
The DIFC Innovation Hub, in collaboration with Swiss wealth management firm Julius Baer and financial infrastructure provider Euroclear, unveiled a new whitepaper titled Navigating the Future of Inheritance. This report highlights the role of emerging technologies in transforming wealth transfer processes, with a specific focus on the Middle East, where a historic $1 trillion (AED 3.67 trillion) wealth transition is underway. The whitepaper explores the complex challenges of inheritance in the region, particularly as High Net Worth Individuals (HNWIs) in the UAE saw their assets grow by 20% to reach $700 billion since 2022. The report underscores how technologies such as Artificial Intelligence, Smart Contracts, Distributed Ledger Technology, and Tokenisation can enhance transparency, security, and efficiency in asset transfers. Despite the potential of these technologies, the report reveals that only 24% of HNWIs have a complete estate plan in place, and 53% of families find wealth allocation to be overly complex and time-consuming. This points to a critical need for better processes in managing inheritance. Key stakeholders in wealth management, including family offices, regulators, and service providers, must collaborate closely to address these challenges. Mohammad Alblooshi, CEO of DIFC Innovation Hub, emphasized the region's unique position in leveraging digital technologies for wealth transfer, positioning the Middle East as a leader in best practices. Julius Baer's Alireza Valizadeh and Euroclear's Isabelle Delorme echoed the importance of embracing innovation in navigating this evolving landscape, aiming to empower stakeholders and build a future-ready framework for generational wealth transfer. News Source: Emirates News Agency
Emirates 24/7
28-01-2025
- Business
- Emirates 24/7
Middle East families to experience USD 1trn transfer of generational wealth by 2030
DIFC Innovation Hub, the region's largest innovation ecosystem; Julius Baer, the global Swiss wealth management firm; and Euroclear, the world's leading financial markets infrastructure provider, today launched a whitepaper that outlines how technologies are changing the transfer of wealth and highlights opportunities to streamline the process, particularly in the Middle East. The Navigating the Future of Inheritance report addresses the complexities of inheritance at a time when the region stands on the verge of a historic transition of USD 1trn (AED 3.67trn) in wealth to heirs and extended family members. This includes High Net Worth individuals in the United Arab Emirates who have seen their assets grow by 20 per cent to reach USD 700bn in value since 2022. Digital technologies such as Artificial Intelligence, Smart Contracts, Distributed Ledger Technology, and Tokenisation offer promising avenues to reduce friction, improve transparency, and ensure secure, efficient asset transfers. Despite these new technologies the report identifies that only 24 per cent of High-Net-Worth Individuals currently have a full estate plan in place, highlighting the urgent need for improved inheritance processes. Over half of families (53 per cent) believe that it is just too complicated and too time-intensive to gather, record and plan how to allocate assets across potentially large families. The report reinforces the importance of close collaboration between wealth managers, family offices, regulators, and service providers in creating a robust platform for wealth transfer and driving adoption. Mohammad Alblooshi, CEO of DIFC Innovation Hub, said: 'We stand on the crossover of a monumental generational wealth transfer in the Middle East in an era when wealth portfolio compositions are increasingly complex, driven by ever-widening asset categories and an appetite towards investments in digital assets. This report is the fruit of our partnership with Julius Baer and Euroclear, aiming to leverage this inflection point and drive meaningful change along the inheritance journey. Our goal is to harness emerging digital technologies to tap into the opportunities ahead and position the Middle East as a beacon of best practices in the wealth transfer space.' Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, said: 'Generational wealth transfer is gaining momentum in the UAE and the wider Middle East, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. As we work closely with current and future generations, it becomes more important than ever to take into account the evolving landscape with the onset of digital assets. We increasingly see the potential of technology particularly blockchain and tokenisation in enabling a secure and transparent process for wealth transfer. I am particularly pleased that we were able to collaborate with DIFC and Euroclear on the eve of our 20th anniversary celebrations on this innovation paper showcasing how we can work towards building the future of finance together.' Isabelle Delorme, Global Head of Product Strategy and Innovation, Euroclear, said: 'We are extremely pleased to take this next step with the DIFC Innovation Hub and Julius Baer in the launch of this report with the objective to explain the evolving inheritance landscape and its transformative potential. Together we have crafted a comprehensive guide to address the unique regional challenges and vast opportunities within this sector. Our ambition is to empower financial stakeholders and policymakers to embrace innovation, promote efficiencies and build a future-ready inheritance framework that benefits generations to come.' Beyond the future of inheritance, the issues and needs of a family business that has been operating for one or two generations may be very different from those of an established multigenerational family business. To cater to these varied needs, DIFC offers a flexible range of family business structures and solutions, which have been covered in a series of new guides. The first two guides in this DIFC series were prepared in collaboration with DIFC Family Wealth Centre partners including M/HQ, Equiom, Clyde & Co, and KENDRIS. 'Understanding DIFC Foundations: A Key Tool for Wealth Structuring and Legacy Planning' and 'Understanding DIFC Trusts: A Comprehensive Guide' are available for download for advisors and families. The series follows the DIFC Family Wealth Centre's first publication titled 'Prosperity Across Generations: Unlocking the power of DIFC for families', to empower families with access to knowledge and expertise on structures, governance, wealth management, succession, and estate planning in Dubai and DIFC. Reflecting the increasing interest from families across the globe to manage their business growth through DIFC, this guide is now available in Arabic, English, Mandarin, and Spanish. Follow Emirates 24|7 on Google News.
Zawya
28-01-2025
- Business
- Zawya
Middle East families to experience $1trln transfer of generational wealth by 2030
This collaborative effort by two of the most influential institutions within the wealth transfer space and the DIFC Innovation Hub compiles insights from family offices, financial advisors, legal experts and technology startups from across the globe Report is the latest initiative from DIFC and its partners to help family businesses manage their wealth Dubai, UAE: DIFC Innovation Hub, the region's largest innovation ecosystem; Julius Baer, the global Swiss wealth management firm; and Euroclear, the world's leading financial markets infrastructure provider, today launched a whitepaper that outlines how technologies are changing the transfer of wealth and highlights opportunities to streamline the process, particularly in the Middle East. The Navigating the Future of Inheritance report addresses the complexities of inheritance at a time when the region stands on the verge of a historic transition of USD 1trn (AED 3.67trn) in wealth to heirs and extended family members. This includes High Net Worth individuals in the United Arab Emirates who have seen their assets grow by 20 per cent to reach USD 700bn in value since 2022. Digital technologies such as Artificial Intelligence, Smart Contracts, Distributed Ledger Technology, and Tokenisation offer promising avenues to reduce friction, improve transparency, and ensure secure, efficient asset transfers. Despite these new technologies the report identifies that only 24 per cent of High-Net-Worth Individuals currently have a full estate plan in place, highlighting the urgent need for improved inheritance processes. Over half of families (53 per cent) believe that it is just too complicated and too time-intensive to gather, record and plan how to allocate assets across potentially large families. The report reinforces the importance of close collaboration between wealth managers, family offices, regulators, and service providers in creating a robust platform for wealth transfer and driving adoption. Mohammad Alblooshi, CEO of DIFC Innovation Hub, said: 'We stand on the crossover of a monumental generational wealth transfer in the Middle East in an era when wealth portfolio compositions are increasingly complex, driven by ever-widening asset categories and an appetite towards investments in digital assets. This report is the fruit of our partnership with Julius Baer and Euroclear, aiming to leverage this inflection point and drive meaningful change along the inheritance journey. Our goal is to harness emerging digital technologies to tap into the opportunities ahead and position the Middle East as a beacon of best practices in the wealth transfer space.' Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, said: 'Generational wealth transfer is gaining momentum in the UAE and the wider Middle East, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. As we work closely with current and future generations, it becomes more important than ever to take into account the evolving landscape with the onset of digital assets. We increasingly see the potential of technology particularly blockchain and tokenisation in enabling a secure and transparent process for wealth transfer. I am particularly pleased that we were able to collaborate with DIFC and Euroclear on the eve of our 20th anniversary celebrations on this innovation paper showcasing how we can work towards building the future of finance together.' Isabelle Delorme, Global Head of Product Strategy and Innovation, Euroclear, said: 'We are extremely pleased to take this next step with the DIFC Innovation Hub and Julius Baer in the launch of this report with the objective to explain the evolving inheritance landscape and its transformative potential. Together we have crafted a comprehensive guide to address the unique regional challenges and vast opportunities within this sector. Our ambition is to empower financial stakeholders and policymakers to embrace innovation, promote efficiencies and build a future-ready inheritance framework that benefits generations to come.' Beyond the future of inheritance, the issues and needs of a family business that has been operating for one or two generations may be very different from those of an established multigenerational family business. To cater to these varied needs, DIFC offers a flexible range of family business structures and solutions, which have been covered in a series of new guides. The first two guides in this DIFC series were prepared in collaboration with DIFC Family Wealth Centre partners including M/HQ, Equiom, Clyde & Co, and KENDRIS. 'Understanding DIFC Foundations: A Key Tool for Wealth Structuring and Legacy Planning' and 'Understanding DIFC Trusts: A Comprehensive Guide' are available for download for advisors and families. The series follows the DIFC Family Wealth Centre's first publication titled 'Prosperity Across Generations: Unlocking the power of DIFC for families', to empower families with access to knowledge and expertise on structures, governance, wealth management, succession, and estate planning in Dubai and DIFC. Reflecting the increasing interest from families across the globe to manage their business growth through DIFC, this guide is now available in Arabic, English, Mandarin, and Spanish. All reports can be downloaded at: About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 43,800 professionals working across over 6,150 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations. For further information, please visit our website: or follow us on LinkedIn and X @DIFC. About Euroclear Euroclear group is the financial industry's trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International. For media enquiries, please contact: Nivine William | Nisha Celina Burson | | Rasha Mezher | Dubai International Financial Centre Authority Manager, Marketing & Corporate Communications Jorgen Muylaert | Euroclear Media Relations Manager
