NEWSLETTER10th Issue- Apr- Jun 2022

IBA ALUMNI U.A.E. CHAPTER

Dear IBA Alumni,

Mid of the year is already hereand so is the hot weather. Weare experiencing some hightemperatures in UAE this year, sotry to stay indoors and keepyourself hydrated.

This month has been quite ahappening month as we areapproaching towards the AlumniElection 2022 for Alumnirepresentation on the Board ofGovernors of IBA. Danish Kazi,President IBA Alumni UAEChapter is also contesting for theposition. We wish Danish andthe other contestants all the bestfor the elections. Javeria hascompiled a brief for us to giveyou a snapshot of the electionactivity. We would appreciate if you could have a look, it will giveyou a bird’s eye view.

Fahad Ali has been kind enough

to contribute an article outliningtheir participating in the AnnualGeneral meeting of PAD(Pakistan Association Dubai).

A detailed analysis has beenincluded in this quarter’snewsletter regarding the upsand downs in the prices of realestate market in some parts ofthe world.

Summer break is just around thecorner and its time to relax,enjoy and rejuvenate. You wouldfind article titled “Hidden gems ofUAE”, describing two places ofinfotainment in UAE. Bothdestinations are a perfect get-away in this weather and tolearn more about the culture &history of UAE.

With the high inflation ratesacross the map, Javeria has alsoshared some useful tips andtricks to keep you financially

stable and liquid.

Our newsletters cannot bepublished without the tirelessefforts of our Publication’sCommittee team membersKhadija and Javeria. With deepsorrow, we have to convey thatKhadija’s mother left us for ajourney to a better world. Ourcondolences to Khadija; may hermom rest in peace and mayAllah give strength to the familyto bear this loss (Ameen).

We would like to hear yourfeedback and input as to howwe can improve our newsletter.Hoping everyone enjoys thesummer break; stay safe, andhappy travels to those traveling.

Stay blessed,Andaleeb ShahidHead of Publications CommitteeIBA Alumni UAE Chapter

Welcome Note

UAE Chapter Office BearersPublication Committee

Ms. Andaleeb ShahidMs. Khadija AbubakarMs. Javeria Mustaqeem

Mr. Danish Kazi Mr. Waleed Hassan Mr. Fahad Ali Mr. Ahmer Arif

Hidden gems in the U.A.E.PAD- IBA AlumniTips to save moneyIBA BoG Elections 2022Global real estate price volatility

Contents

Al Qattara Arts Center

Situated in Al Ain, Qattara Arts Centre hasbeen serving as a community center for over adecade now. The center established in 2011,has been a venue for promoting arts andculture in Al Ain for years now. Manyexhibitions are held in Qattara Arts Centerdisplaying works of the finest artists from allover UAE. The center has been built keeping inmind the country’s traditional architectingstyle.

It has served as a family recreation and activitycenter. It has a Dry Studio that offers classesfor music, arts and handicrafts. There is also aWet Studio where lessons are conducted forpainting and drawing. There is also a separatesection for learning pottery and sculpturing.You will find a full scale digital studio withcomplete equipment for photography andcomputer tech. There is also a library and anexhibition hall. Occasionally arts and paintingexhibitions are held in the center show-casingthe wonderful works of artists in the region. Acafe is situated inside the center serving a widevariety for food. It also hosts a museumdisplaying some of the prehistoric piecesfound on this site.

Hidden Gems in the U.A.E.

Al Qattara Arts Center is also known for itshistorical importance. While constructing in the2000s, the archaeologist found a five-metersequence made of iron. The sequence appearsto be the work of early discovery to the IronAge dating back 3000 years old. The sequenceis displayed in a specially designed basementin the Arts center. It is open to public and anyone visiting the Arts Center can have a uniqueexperience of having a glimpse of this historicmaster piece.

This Center has served as an excellent familylocation to have some quality time, learn aboutthe culture of UAE and to acquire new skills ofpottery, arts and crafts.

By: Andaleeb Shahid- IBA Alumni 2003- Publications Committee

UAE Currency Museum

UAE Curency Museum was opened in 2013marking 40 years celebration of UAE. Locatedin the Al Bateen Area of Abu Dhabi, themuseum is located in the ground floor of theCentral Bank’s headquarter’s building.

The museum is unique and holds wide rangeof coins and currency notes. Few of its exhibitsdate back to pre-nation’s union in 1971. It alsohas the first notes and coins issued in 1976 bythe UAE government. It displays some of theoldest gold and silver coins and historiccurrency notes.

Complete range of UAE notes issued todatecan be found here. We can also find thespecial commemorative coins and currencynotes issued by UAE from time to time tomark the imporatnce of a specific event / date.

The museum also unveils the old currencysorting and counting machines used in earlieryears. It also displays few historic currencynotes from other counties.

PAD- IBA AlumniBy: Fahad Ali, MBA 2003. General Secretary. IBA Alumni UAE Chapter

The PAD Annual General Meeting was held atthe Pakistan Auditorium in the attendance ofkey stakeholders and 300 PAD members, andincluded an important keynote speech fromCEO and Co Founder Careem, Mr MudassirSheikha. The IBA Alumni UAE Chapter took theopportunity to celebrate 60 years of servicewith the member of the PAD. Alongwith keyfinancial and annual reports presented for2020-2021, a snapshot of the activitiesconducted by the wings, including the IBAAlumni UAE Chapter, was also shared.

Representation in ICAP organized webinarduring 76th Independence day of PakistanZoom Webinar with Standard Charteredon Investment Opportunities in PakistanAwareness Webinar for investing in StockMarket with CDC Pakistan.

Alumni Office bearers interacted withMinistry of Education to enhance remotelearning and reading habits in childrenRemote sessions with Prominentbusinessmen, IBA Alumni on ongoingeconomic environment and conditions inPakistanRemote Gathering of IBA Alumni on Zoomduring lockdownsRepresentation of IBA alumni in Bank ofPunjab Investment Seminars during EXPO2020.

In terms of activities covered, the IBA Alumnishared the progress and achievement of thefollowing activities and initiatives, despite theCOVID lockdowns.

The Executive committee of the PakistanAssociation Dubai and its office bearersappreciated the efforts that the IBA Alumniand its office bearers have put in to ensureconstant interaction with and from thecommunity. In his motivational talk, Mr Mudassir Sheikhaspoke at length about broadening ourcollective vision as Pakistanis and using ouracquired skills to make a difference within ourcommunities.

Tips to save money

With rising global inflation owing to the Russia -Ukraine war, many a people are helplesswatching their bank account balances dwindle.Below are few tips to help you get started withbuilding saving habits and achieve some levelof financial stability.

1.First and foremost, know your expenses. Agood starting point would be to record yourmonthly expenses and note down yourmonthly salary/income. Sort your expensesinto categories such as necessities,entertainment, luxuries etc. Make sure toinclude all insignificant but recurring purchases(indulgences) every month. do not forget yearlybut recurring expenses such as carmaintenance, insurance, and registrationexpenses.

2. Add a savings category to your record. Aim tosave at least 10-15% of your monthly income.Write it separately and deduct it from yourspending budget. It is highly recommended tohave two bank accounts: each separate forexpenses and savings.

Once you’ve determined your monthly budgetfor spending, note how much each category ofexpense must be allocated relative to yourincome and needs.

3. If your expenses exceed the spendingbudget or if you’re looking to save more; gothrough your expenses list again and try to cutdown on indulgences. Having a store-boughtcoffee everyday does not bring you much joybut it sure adds up to a significant amount atthe month end.

By: Javeria Mustaqeem- IBA Alumni 2015- Publications Committee

4. Create short and long-term savings goals. Ashort-term goal can be to save for travel in thenext holidays whereas a long-term goal can besaving for retirement or for your child’s highereducation. Such goals would motivate you tokeep separating your savings every month.

5. Most often, money loses its value if left inbank accounts owing to inflation. Startinvesting your savings in different financialinstruments and commodities to increase yoursavings. Stocks, mutual funds, Treasury Bills,cryptocurrencies, and commodities such asgold are all possible options to invest into. Builda portfolio with ranging risk percentages tosecure healthy gains.

6. Review and revise your budget every monthif needed. Keep a tab on your savings andchange plans if necessary.

NameYear of

GraduationProgram Email Address

Muhammad Ashaar Saeed

1992

MBA

ashaarsaeed@gmail.com

Muhammad Sohail Abdul Hameed

1994

MBA

sohail@topline.com.pk

S.M Imran Owais Kazmi

1996

MBA

crystal.kazmi@gmail.com

Fahim Abbasi

2010

MBA

info@fahimabbasi.biz

Muhammad Danish Kazi

2002

MBA

m_danish_kazi@yahoo.com

Kirshan Vaswani

2000

MBA

vaswanyy@gmail.com

IBA BOG Elections 2022

Courtesy: Malahat Awan- Director Corporate Affairs & Alumni Affairs IBA

IBA Alumni representative elections for theBoard of Governors is set to take place fromJune 29- July 02 2022. This is a prestigiousposition for which IBA Alumni are urged to votein favour of their choice of candidate.

The final list of candidates who are contestingfor the alumni representative on the BOG isgiven in the table below.

Online VotingFrom- Wednesday, June 29, 00:00 hrs PSTTo- Friday, July 01, 23:59 hrs PST

Manual VotingFrom- Saturday, July 02 10:00 hrs PSTTo- Saturday, July 02, 14:30 hrs PST

Compiled By: Javeria Mustaqeem- IBA Alumni 2015- Publications Committee

Kindly note- Mr. Muhammad Ali Shahzad Kharral is not contesting the elections, but his name will be included incandidates list as he withdrew his name after the deadline had passed.

The voting will be carried out as per the following schedule:

IBA arranged a session on June 19, 2022, at theJS Auditorium to have a one-on-one sessionbetween the candidates for the alumnirepresentative on the BoG and IBA Alumni.

It was attended by all the six candidates (5attended physically while one attended viazoom from Dubai).

The session was attended by approximately100 participants physically and 40 virtually. Itstarted with a brief introduction of all thecandidates. They then presented theirmanifesto and profiles followed by a Q& Asession by participants (physically and virtually).The link of the complete session is given below:

YouTube link: https://youtu.be/ITJ68LE6_4Y

A session with the IBA BOG Candidates is alsobeing organized for the UAE Chapter on the25th of June, 4pm UAE time.

Manual voting will be taking place at the IBACity campus, JS Auditorium and a proof ofidentification will be required.

For a seamless voting experience, kindly ensurethat you are included in the graduate list andyou have your login credentials (email andpassword) to avoid any inconvenience on theday itself.In case, if your credentials have not beenreceived yet, contact- alumni@iba.edu.pk.

Detailed step wise procedure for online votingis depicted in the picture below.

We wish all the candidates best of luck for the elections. May the right candidate win!

Housing prices have seen 11.2% year-on-yeargrowth this year. This is coupled by increase inpurchasing power of the people living in UK.The unemployment rate has fallen to a 50-yearlow figure. Jobs are being created as theeconomy is swinging upwards. This haspushed the demand for housing. However,the recent increase in interest rate hasrestricted the demand side. The rising interestrates, if continues, can result in highermortgage payments and thus can result inslow down in property prices in UK. Risinginflation figures in UK has also led to adecrease in disposable income available withthe individual to invest in a property. What canbe seen in UK, recently is that the prices forshop real estate has increases which signifiesthat people are now inclined more in investingin businesses rather than housing.

Bank of Canada increased its overnightinterest rate by 50 basis points to 1.5% in earlyJune this year. The bank has indicated that ifnecessary further monetary policy steps will betaken to tackle the rising inflation figure in thecountry. Canadian CPI inflation hit 6.8% in Aprilthis year.

Global Real Estate Price VolatilityBy: Andaleeb Shahid- IBA Alumni 2003- Publications Committee

With covid numbers diminishing steadily,economies are opening up. The world isshowing a sign of recovery, trade graphs areshowing upward trends and the economicactivity is recuperating. Though we are still tosee the same economic figures as of pre-covidtimes; the growth has started. Churning up ofeconomic cycle has created a number of jobs,previously lost due to the pandemic outbreak.The purchasing power of households haverisen leading to better standards of living.Demand of housing has also risen as a result,jacking up the property prices world wide.

Year 2021 has been a growth year in realestate sector in most parts of the world.However, with Ukraine - Russia political crisis,lockdowns in China, and disruptive supply offood and taw materials have once again led touncertainty among investors and businesses.Effects if the same are evident on propertymarket too. Buyers are not ready to buyhousing as they are afraid of getting theirinvestments and savings stuck. People preferskeeping themselves liquid. With reduceddemand, the prices of real estate has seen adecline. On the supply side, owners are hastilyselling their property to keep themselves liquidand to take their investments out to avoid anydown turn or losses in property market price.This has resulted in a stagnancy anduncertainty in the real estate market worldwide.

UK has a similar trend in housing propertyprices. Brexit added to the speculation factorleading to a further down turn. Now thatfinancial factors have stabilized, we can see agrowth in real estate sector.

The Canadian housing market has matured abit early and has already surpassed the pricecorrection stage. The property prices jumped in2021 showing a boom and confidence in themarket. The average value of Canadianhousing market have increased up to 50%since Dec 2019. It was estimated that this maycontinue till end of 2022. However, with themacro policies in place by the government vizrise in interest rates, the mortgage paymentshave plummeted. Affordability is the key nowand thus a price correction can be seen in thehousing market. The government has alsobeen implementing few micro economic policymeasures in real estates to limit speculation. Allthese measures have led to a cooling phaseand a much needed price correction in the realestate market.

A similar pattern can be seen in theScandinavian countries. Economies haveshown signs of growth post covid scenario. Butnow they are facing stagnancy in growth rateowning to Ukraine war and high inflation rates.Accordingly to the research paper issued byNordea Bank, Denmark experienced a sharpdip in GDP during 2020 as a result of covidpandemic. The economy later picked up andnow has reached a growth rate of 5% in 2021.This is the highest GDP figures of Denmark inthe last 25 years. Expected growth rate for2022 has been kept at 3.5% owning to the geo-political scenario in the region. Economicfigures are expected to even worsen in the Yr2023 and thus the expected growth rate targethas been further slashed down to 1% only.

The current scenario has led to increasedinflation rates in the country. Inflation inDenmark for 2022 is estimated to be at 5%.Though employment has increased over theyears, but due to high inflation, the disposableincome available to a household isdiminishing.

Housing prices are rising at a higher rate thanthe increase in income. This is coupled byrising interest rates and pumping up theannual mortgage payments adding furtherpressure on the buyer.

According to a report by CNBC, Singaporeresidential property prices rose up by 10.6% in2021. In 2022 also, it is expected that theprices will rise by 1%-4%. Limited supply ofhousing units and strong demand has led tosuch high numbers. In Dec 2021, Singaporegovernment introduced some real estatelaws. According to these new rules, Stampduty is raised to 30% from 20%. Buyer needsto pay 35% to the regulator on purchasing asecond or subsequent property. Also thebanks have tightened the approval andreimbursement of home loans. Though thesemeasures will have a limited effect on peoplebuying property for living in and notinvestment purposes. These micro economicmeasures were intentionally introduced bythe regulator and government to give acooling phase to the much - hiked propertyprices in Singapore. Now foreigners andinvestors have to think twice beforepurchasing property in Singapore.

This curbs the unnecessary speculation in thereal estate market. Similar pattern and effectwas witnessed in rental payments ofresidential property too.

International economic scenario is changingtoo rapidly and anything can be expected inthe future. There had been a sharp decline ineconomic activity due to the pandemic. Thencame the growth phase, primarily in Yr 2021,leading to higher demand in housing sector.However, it was too short lived. The recentUkraine - Russia political scenario, rising oilprices, disruption in food / grains supply,higher mortgage payments etc; all thesefactors have resulted in decline in disposableincome of people. Thus having a directnegative impact on demand in real estatemarket. Uncertainty is at peak these days.Nevertheless, we expect that a balance will beachieved in the coming months after a pricecorrection and in accordance with thedemand and supply in the housing market.