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Khaled Hassan Rashed Qatar Economic Forum April 18 th , 2006

Investing in Qatar “The Amwal Experience”. Khaled Hassan Rashed Qatar Economic Forum April 18 th , 2006. Khaled Hassan Rashed Qatar Economic Forum April 18 th , 2006. Investing in Qatar Investing in Amwal. Table of Contents. Investing in Qatar. Advising on Investing.

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Khaled Hassan Rashed Qatar Economic Forum April 18 th , 2006

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  1. Investing in Qatar “The Amwal Experience” Khaled Hassan Rashed Qatar Economic Forum April 18th, 2006 Khaled Hassan Rashed Qatar Economic Forum April 18th, 2006

  2. Investing in Qatar Investing in Amwal Table of Contents Investing in Qatar • Advising on Investing

  3. Qatar – “An Opportune Time to Invest” Reasons to Invest Real GDP growth is estimated at 6.9% in 2005 GDP per capita is estimated at US$ 45,085 in 2005 CAGR 11.6% Current account balance is estimated at 36.1% of GDP Net FDI Inflows (US$ million) CAGR 34% CAGR 31.7% Source: Economist Intelligence Unit, World Investment Report 2005, QNB

  4. Qatar – “An Opportune Time to Invest” (Cont’d) Reasons to Invest Oil & gas contribution to GDP is estimated at US$ 25.2 billion in 2005 Stock market capitalization as % of GDP increased by 225% in 2005 CAGR 25.7% Brokerage – Total Value Traded (US$ million) Market index rose by 70.2% to reach 11,053 in 2005 Source: Economist Intelligence Unit, World Investment Report 2005, QNB, related Stock Market

  5. MENA IPO Fund Targeting IPO and Pre-IPO investment opportunities in addition to taking strategic minority stakes in listed companies in the MENA region. Islamic Private Equity / Mezzanine Fund Structuring Shariaa compliant funds to cater to the increasing number of investors seeking to participate in the Islamic Finance space. Regional Real Estate Fund Facilitating investors’ participation in the GCC real estate boom and reducing their risk exposure by investing in a diversified regional real estate fund. Fixed Income Fund Catering to investors who wish to preserve capital and get a fixed rate of return per annum. The fund will invest in Certificates of Deposits, Treasury Bills, Bonds, and other fixed income products. Investment Opportunities in Qatar – Asset Management New innovative funds catering to investors with different risk/return profile Source: Amwal’s Management

  6. Investment Opportunities in Qatar – Investment Banking Key Segment Opportunity Comments • Groups may divest their business due to generational issues, strategic focus or to diversify shareholder base. Investment Banking firms can advise them on viable exits with minimum risk Family Groups Divestment • Investment banks can also advise business groups on partnering with PE funds to benefit from their value creation discipline, corporate governance, compliance, etc Partnerships • Companies may sell their non-core business for strategic reasons such as concentration on core businesses or region. Investment banks will facilitate the sale process. Multinationals Corporate Refocus • Alternatively they may require the services of an investment bank to sell part of or all their business for financial reasons or to raise capital for organic and acquisitive growth Distressed Sale Small/Medium Enterprises (SMEs) • Fragmented nature of industries and regulatory changes such as WTO and GATT are likely to fuel consolidation and M&A advisory will be a key value added service provided by investment banks Consolidation • Credible management looking for opportunities to own a stake in their business will approach investment banks to find a suitable private equity sponsor Management Buy-outs Sector Liberalization/Privatization Sector Liberalization • Investment banks with sophisticated research and market knowledge will be able to provide clients on investment opportunities arising because of sector liberalization • Investment banking firms will play a key role in the facilitation of the potential privatization drive that the government will undertake providing advice to both buyers and sellers. Privatization Source: Amwal’s Management

  7. Investing in Qatar Investing in Amwal Table of Contents Investing in Amwal • Advising on Investing

  8. World Class Financial Services International Connectivity Significant Human Traffic Hospitable Business Environment Critical Success Factors for Setting up an Investment Bank Corporate Governance Human Capital Financial Capital Critical Success Factors Strong Shareholders Market Opportunity Proactive Approach Source: Amwal’s Management Source: Abraaj Capital Analysis

  9. Amwal from inception to date 1998 - 2002 2006 2005 2003 & 2004 • Abraaj & Shuaa Capital acquire stake in Amwal • Formation of QLIC – Qatar Ladies Investment Company • Proactive management approach by shareholders • Market leaders in investment banking, asset management and financial planning • Infusion of fresh international capital from new investors • Infusion of seed capital by prominent Qatari institutions and individuals • Capital increased to QAR 162.5 million • New corporate identity • Introduction of new grading and compensation structure • Asset Management & Investment Banking introduced • Obtaining License from QCB • First line of Business - Financial Planning • Expansion of team to 50 investment professionals • Re-branding of Amwal • Launch of proprietary portfolio • First mutual fund launched – Qatar Gate Fund • Al Mahfatha portfolio launched • Formation of key committees Source: Amwal’s Management

  10. Evolution of Amwal 1998 - 2002 • Founded by the most progressive Qatari Institutions including Qatar National Bank, Qatar Navigation and Qatar Foundation under the leadership of Sheikha Hanadi – Vice Chairperson and Managing Director. Strong Shareholder Base Financial Capital • Seed capital was provided by Qatar National Bank, Qatar Navigation, Qatar Foundation and prominent Qatari individuals. Market Opportunity • Opportunity to cater to the investment needs of Qatari ladies offering savings plan, insurance, investment and protection plans. Proactive Approach • Top-down niche approach through intensive market research and analysis of clients investment needs. Human Capital • Skilled investment professionals with expertise in financial planning were hired to execute. Corporate Governance • Internal policies & procedures were put in place to ensure corporate governance and compliance with QCB regulations. Source: Amwal’s Management

  11. The Evolution Continues… 2003 & 2004 Strong Shareholder Base • Two of the most reputable regional investment houses, Abraaj Capital and Shuaa Capital from the UAE took a stake in Amwal through a pioneering Private Equity and M&A transaction in Qatar. Financial Capital • Infusion of fresh capital through foreign direct investment (FDI) by regional firms, Abraaj Capital and Shuaa Capital. • Significant opportunity in asset management with specific focus on investing in the expanding equity market in Qatar due to easing of restrictions and incentives for companies to list on the DSM. Market Opportunity • Addition of 2 new business lines – Investment Banking and Asset Management • Launched proprietary investment portfolio. • Launched Al Mahfatha portfolio – The first investment portfolio in Qatar. Proactive Approach • Hired experienced Director and Business Development executives for Financial Planning. • Seasoned investment professionals hired for the two new divisions. Human Capital Corporate Governance • Formation of key committees such as Audit and Risk committee to supplement the executive committee. Source: Amwal’s Management

  12. The Evolution Continues… 2005 • Based on their strong belief in the business, shareholders took a more hands-on and pro-active approach and seconded highly skilled managers to further build on the strong foundation of the company. Strong Shareholder Base Financial Capital • Capital increased to QR. 162.5 million to facilitate acquisition opportunities in investment banking, asset management and financial planning sectors. Market Opportunity • Booming IPO market in the GCC fueling appetite for Mutual Funds investing in the same. • M&A and private equity deal flow increasing. Proactive Approach • First mutual fund (‘Qatar Gate Fund’) was launched for both Qatari nationals and expatriates to invest in the DSM and the regional markets. Human Capital • The team was doubled by hiring investment professionals representing more than 15 countries. Together they bring over 100 years of combined investment banking and asset management experience. Corporate Governance • Enhanced the overall organization structure in terms of grading and compensation to reflect high standards of corporate governance, international best practices and ethical standards. Source: Amwal’s Management

  13. Investing in Qatar Investing in Amwal Table of Contents • Advising on Investing Advising on Investing

  14. Investment Banking Track Record • Exclusive underwriter in Qatar for one of the largest IPOs (QAR 1.2 billion). • First underwriting assignment outside Qatar for Amwal. • Successfully executed the transaction in a record time of three weeks over-subscribing the issue 3 times Ithmaar Bank Doha Insurance • Investment banking advisor on asset allocation and capital deployment. • M&A advisor on potential acquisitions and investment opportunities. Salam International Investment Limited • Advisor to Salam International Investment Limited. • Conducted a valuation of the company. • M&A advisor on a potential merger with parent company. Source: Amwal’s Management

  15. Asset Management Track Record – Proprietary Portfolio Performance Statistics Proprietary Fund DSM Index Jan-04 to Dec-05: 403% 115% 2005 Growth: 148% 43% Source: Amwal’s Management

  16. Performance Statistics Jun-03 to Dec-05: 189% YTD : 61%* Performance Statistics Jun-03 to Dec-05: 141% YTD : 36%* Asset Management Track Record – Al Mahfatha Portfolio AL-Mahfatha DSM Index *As of December 2005 Source: Amwal’s Management

  17. Asset Management Track Record • First mutual fund in Qatar, launched in July 05 • Funds under management: QAR 130 million as of Feb 06 • Focused on equity investments in listed companies in Qatar • First fund to be established in Qatar open to both nationals & expatriates Qatar Gate Fund Source: Amwal’s Management

  18. First investment company to be licensed by QCB 1. First investment company catering exclusively to Qatari Ladies First Independent Financial Planning Provider in Qatar 1. First investment in Qatar by institutional private equity players: Abraaj Capital and Shuaa Capital First investment company to attract FDI in Qatar 1. First to launch an investment portfolio in Qatar: Al-Mahfatha Portfolio 1. First to launch a mutual fund registered in Qatar open for investment to Qataris and Expatriates: Qatar Gate Fund First company to underwrite an a non-Qatari IPO: Ithmaar Bank Amwal – The Company of Firsts!!!! Source: Amwal’s Management

  19. INVEST IT RIGHT, AMWALIZE IT

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