AS BIG AS NOW

Oman 2018 | FINANCE | COLUMN

TBY talks to Lo'ai Bataineh, CEO, Ubhar Capital, on the sector.

Lo’ai Bataineh

How would you compare demand for U Capital's products and services in Oman to your international clients?

Many Middle Eastern clients like to use our services and do their investments from Oman. We also benefit from all the Middle Eastern clients banking with ABS and want to use the Swiss banking structure to reinvest in the region. We have many tie-ups across the region through brokers and asset management because we have funds and portfolios across the GCC and the broader Middle East. We also have a relationship with other international banks, so we can introduce their clients to our region.

What are your main goals for 2017 and how do you plan to implement them?

The biggest challenge was to finish December 2016 as Oman Arab Bank and open as U Capital on January 1, 2017. I would like to see U Capital as a USD3 billion company in two years, three times as big as now. We will reach USD1.5 billion assets under management and custody before YE2017. We have more than nine deals on our hands in our advisory capacity comprising USD700-800 million. In terms of brokerage locally U Capital is ranked number two, but we hope to be number one by YE2017.