Financial institutions must be flexible and innovative to ensure long-term growth, says addax’s al essa
Innovation in the Gulf financial sector is essential, to see the region capitalise on its booming economy to facilitate long-term growth, according to one of the region’s leading bankers.
Yousef Al Essa, CEO of Bahrain-based Addax Bank, said: “With high liquidity in the GCC at present, it would have been easy for Addax to stick to tried-and-tested investment options, such as real estate.
“However, we look to add sustainable value to companies and projects we invest in, rather than just inject capital, and we choose emerging industries like education, heathcare, media, hospitality and business support systems.”
The bank, which has won a number of international awards in the finance sector, has built its operations on a commitment to building an innovative investment strategy since the bank was founded less than five years ago.
Al Essa added: “We have taken the approach that we need to invest across sectors and markets, in order to diversify the portfolio of the bank and its investors. The only thing our projects must have in common is that they should be interesting and innovative. Real estate – while producing a good return on investment – should not be the only avenue, despite its current high returns.
