“If you look at the UAE or around the wider GCC markets, you find that the majority of workers are expatriates who are currently not adequately covered under any pension umbrella. This could be seriously problematic for them and their families in the future,” said TAKAUD’s board member and acting chief executive Osama T. Al-Ghoussein.
“In fact, TAKAUD DIFC and the parent company in Bahrain have been incorporated to address such a social need and major business opportunity in the region, by providing simple solutions that are accessible, affordable and portable especially for the young locals and expat workers,” he added.
He also elaborated that TAKAUD is focusing its strategy on its original business vision which is largely conceived around pensions and savings for retirement – serving both individual and corporate client segments in this regard.
“The TAKAUD Private Client Managers and Corporate Pension team in our Dubai office are internationally qualified, and also have the full support of TAKAUD’s expert investment team in Bahrain who work together with the clients to find them the investment / savings solutions that best meet their needs,” elaborated Al-Ghoussein.
Commenting on a story published earlier by International Adviser about TAKAUD DIFC’s wealth management division, he said there was obviously a case of “media miss-reporting” as TAKAUD DIFC did not have the number of employees in the wealth management advisory team cited in the earlier article.
“The fact of the matter is that in business, employees come and go, and offerings and dynamics of business keep changing always. It’s natural. So, I can firmly say that for TAKAUD DIFC, it’s business as usual and we’re seeing great prospects in our current growing pipeline of advisory for professional wealth clients, corporate pension schemes and pension transfers where TAKAUD, as a well-backed regional provider, enjoys many unrivalled strengths,” he concluded.
Editor’s note: Due to additional information which has come to light since publishing an article entitled “Dubai adviser closes wealth management division” on 27 March 2018, the publishers have retracted the original version and replaced it with the story above.
