Middle East Edition of Businesslife now online

Posted: 23/11/2021

BLME 2021 coverA special edition of Businesslife, exploring the relationship between the Middle East and the Channel Islands, is now available.

Jersey and Guernsey are set to play an increasingly pivotal role in helping Middle East wealth players meet the challenges of a shifting demographic and changing client needs, the latest edition of Businesslife finds.

The Middle East Edition, out now, explores how Channel Islands firms are set up to support Middle Eastern wealth managers as they juggle multiple shifts in demand. 

Jon Watkins, Editor-in-Chief of Businesslife, said: “Like many places round the world, the Middle East is seeing a rise in female wealth holders; a greater number of younger wealth holders and investors; and a shift away from traditional wealth strategies.

“For a region that has long done things a certain way, that requires a big shift in approach. What this issue of Businesslife has found is that Channel Islands firms, with their long history of tackling these issues, are stepping in to help as partners and service providers.”

Building relations

The issue includes an extensive joint interview with the heads of Jersey Finance and Guernsey Finance, in which they set out how the islands are building increasingly strong and fruitful relations with firms in the Middle East.

“Our reputation, the high-quality regulation we have and the expertise across the board are the most important factors [in terms of our appeal to Middle Eastern partners],” Jersey Finance CEO Joe Moynihan told us.

“The financial services ecosystem – the infrastructure – we have is second to none. And we also have a supportive, strong regulator,” added Rupert Pleasant in our interview.

Driving forces

Elsewhere in the issue, we explore in-depth challenges that Middle Eastern firms must overcome.

Our article on the changing demographic explores how women are becoming far more prevalent in investment and wealth decisions. It’s estimated, for example, that women are adding $5trn to the wealth pool globally every year – outpacing the growth of the wealth market overall.

Alongside this demographic change, there is also growing demand in the Middle East to tailor succession planning to individual needs, rather than simply following the age-old path. We examine how Channel Islands firms are helping with that, as well as helping align Shariah principles with those of ESG.

Elsewhere in this issue…

We also look at: 
• Jersey building a bilateral trade agreement with the UAE
• Middle East firms looking to embrace the power of digital and technology
• The ability of Channel Islands firms to service the vast swathe of expats in the region
• How succession planning strategies are changing

Click here to view our Middle East edition online.

The physical version of the magazine will be available from its usual distribution points shortly. 


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