UAE - Pison Public Relations

His Excellency Mohammad Ashraf Ghani, President of Afghanistan, inaugurated the Abu Dhabi Fund for Development (ADFD) financed Sheikh Khalifa bin Zayed City Housing Complex in Afghanistan. Located in the Qasaba district of Afghanistan’s capital Kabul, ADFD contributed an estimated US$192 million to the social housing development project.

Aimed at increasing the supply of affordable accommodation options in the country, the crucial project encompasses 3,330 residential units. Including extensive infrastructure works such as roads, water, and electricity networks and support services, the project seeks to elevate living standards for its residents through its power stations that generate 22 megawatts of energy with minimal downtime.

Present at the event were His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, His Excellency Saif Al Shamsi, Charge d’affaires at the UAE Embassy in Afghanistan, His Excellency Sadat Mansoor Nader, Afghan Minister of Urban Development and Housing, and several high-ranking Afghan officials.

Al Suwaidi, said: “In line with the directive of the UAE leadership to support the Afghan government’s housing development goals, the construction was funded by the ADFD-managed Abu Dhabi government grant earmarked for Afghanistan. Not only will this crucial project provide adequate housing for thousands of Afghan citizens, it also will go a long way in bolstering the country’s social housing sector.

ADFD is committed to supporting the Afghan government in overcoming the challenges facing Afghanistan, reaching the country’s desired development goals, and achieving long-term prosperity.”

Moreover, His Excellency Sadat Mansoor Nader praised the efforts of the UAE in implementing humanitarian and development programmes in Afghanistan. He noted that the 53.8-hectare project will provide housing options to suit the lifestyle of Afghan families.

Since it first commenced supporting development projects in Afghanistan in 1977, ADFD has allocated US$325 million towards the development of 14 projects that contributed to the economic and social development of the country.

ADFD is a national organisation owned by the Abu Dhabi government. Established in 1971, its purpose is to help emerging countries by providing concessionary loans to finance sustainable development projects alongside other long-term investments and direct contributions. ADFD manages Abu Dhabi government grants and monitors the course of the relevant projects. It has invested AED80 billion in development projects across 88 countries.

UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty announced the creation of “Finablr”, a new holding company which, subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella. Incorporated in the UK, Finablr will provide strategic direction and oversight for the category-leading brands across its network.

Finablr also seeks to drive financial enablement and empowerment by accelerating customer-focused technology innovation through R&D efforts, industry ecosystem engagements, investments and potential acquisitions. As a diversified network, Finablr will combine the cumulative industry expertise of its trusted network brands including UAE Exchange, Travelex, Xpress Money etc. to deliver innovative-technology-driven and market-leading experiences. As a platform of complementary capabilities, the Finablr network will facilitate seamless and connected experiences for individuals and enterprises.

With over four decades of industry experience, 18,000+ employees, and handling more than 150 Million customer transactions annually, the Finablr network brands boast an impressive global footprint. Collectively touching over a billion lives through its retail stores, agents and digital channels, the Finablr network brands have a direct presence in 45 countries and a network reach across 165 countries. Technology innovation and integration into the new economy is key to Finablr’s growth strategy.

In its efforts to embrace new technologies that transform the way customers and businesses engage, Finablr is setting up Innovation Hubs (i-Hubs) across its global network. i-Hubs will identify disruptive trends in the industry and implement innovations that deliver enhanced business benefits to its network of brands. Through its investment arm, Finablr will seek to acquire capabilities that complement its portfolio through inorganic pursuits. The Finablr investment arm will continue the inorganic pursuits on behalf of its network brands, including strategic investments and acquisitions plans (of USD 250-300 Million) announced by UAE Exchange.

Finablr has also announced the intent to rebrand the non-UAE operations of UAE Exchange as “Unimoni. Short for “Universal Money”, Unimoni will offer a broad spectrum of financial services and will build on the brand equity and legacy of UAE Exchange.

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Abu Dhabi Fund for Development Finances US$192 Million Sheikh Khalifa bin Zayed City in Afghanistan April 24, 2018 11 0

Finablr launched in UAE