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Reclusive Leaders Reshaping Society
Inaworldwhereadesireforvisibilityoftenaccompanieswealthand
influence,thereexistsararebreedofchangemakerswhoprefertoremain behindthescenes—thereclusivephilanthropists.Theseindividuals embraceauniqueethosofcombiningbusinessacumenwithadeep commitmenttosocietalimpact,aconceptnowwidelyknownas “philanthrocapitalism.”Theyquietlybuildandgrowenterpriseswhile channelingtheirsuccesstowardsolvingsomeoftheworld’smostpressing challenges,frompovertyalleviationandeducationreformtoclimateactionand healthcareinnovation.
Theterm“philanthrocapitalist”mayconjureimagesofpublicfigureswhose charitableactsareshowcasedacrossmediaplatforms.Yet,thereisanequally powerfulnarrativesurroundingthosewhointentionallyavoidthespotlight, choosinginsteadtolettheiractionsspeaklouderthantheirnames.These reclusiveleadersembodyaphilosophyofpurpose-drivencapitalism,where profitandsocialgoodcoexistharmoniously Theyleveragetheirbusiness expertisetocreatesustainablesolutionsthatempowercommunitieswithout seekingrecognitionoraccolades.
Whatsetstheseindividualsapartisnotjusttheircommitmenttophilanthropy buttheirstrategicapproachtogiving.Data,scalability,andlong-term sustainabilitydrivetheirinvestmentsinsocialenterprises,nonprofits,and impactfulventures.Theyfocusoncreatinglastingchangeratherthantemporary relief,ensuringtheircontributionsleaveagenerationallegacy
Inthisfeature,InsightsSuccessdelvesintotheworldof The Reclusive Philanthrocapitalist —exploringtheirmotivations,theirmethods,andthe profoundimpacttheymakewhileremainingoutofthepubliceye.Theirquiet influencereshapesindustries,transformscommunities,andinspiresanewera ofleadershiprootedinempathy,responsibility,andlastingimpact.
Thesearethehiddenarchitectsofchange—individualswhosestoriesremind usthattrueleadershipdoesn'talwaysseekastagebutfocusesinsteadonthe greatergood.
Flipthroughthepagesandhaveadelightfulread!
Editor-in-Chief
Managing
Executive
Art
Business
Business
Digital
Co-designer
Marketing
Technical
Research
The Reclusive Philanthrocapitalist
David Chasteen Chief Opera ng Officer Company
Sidechannel sidechannel.com
Fawaz Ghazal CEO Flooss Bahrain flooss.com
Keith Davies CEO Kanoo kanoopays.com
Paul Infante Moñozca Chairman and CEO
The Dr. AB Moñozca Founda on monozca.com
Sofia Skiredj CEO CGF Bank Asset Management cfgafrica.com
Brief
As COO of Sidechannel, David Chasteen is likely involved in overseeing daily opera ons and strategic ini a ves within the company.
Fawaz Ghazal is Leading Flooss as CEO, his dedica on to financial inclusion materializes through innova ve fintech solu ons in the Middle East.
Keith Davies leads Kanoo, a company that appears to be involved in payment solu ons. He directed the successful development and deployment of the world’s first interoperable CBDC digital wallet.
Paul Infante Moñozca oversees the Dr. AB Moñozca Founda on, which is likely focused on philanthropic efforts.
As the CEO of CGF Bank Asset Management, Sofia Skiredj is responsible for driving business development, financial planning, risk management, and investment management.
Paul Infante Moñozca
The Reclusive Philanthrocapitalist Warchest: $100 Billion
David Chasteen Pioneering Proactive Cyber Defense Strategies
Fawaz Ghazal Revolutionizing the Digital Lending Transformation in Finance
Keith Davies Modernizing the Bahamian Finance Industry
Sofia Skiredj Navigating Investment Management
The Future of Venture Philanthropy and Charitable Contributions Understand Importance of Community Investment in Philanthropy
A leader takes people where they want to go. A great leader takes people where they don't necessarily want to go, but ought to be.
- Rosalynn Carter
Infante Moñozca P a u l
The Reclusive Warchest:
The Lakan wears a symbolic locket, the "keyhole with a butterfly key", symbolizing the unlocking of the people's wealth.
Paul Infante Moñozca Chairman & CEO
Moñozca Family Office & The Dr. AB Moñozca Founda on
Looking Beyond Singularity & AGI
TechnologicalSingularityisthepointwhere
HumanitymeetsArtificialGeneralIntelligence (AGI)andAGIovertakeshumanityandcontrolsit. AGIisdatadriven,thus“beyondAGI”isthechallengefor worldpeace.Avisionarybeyondthisiswhathumanity needstounderstandtherepercussionsofaworldrunby ArtificialIntelligence(AI)andasdecentralizationreaches theshoresofeverynation.
IntherecentlyconcludedElitePrivateBanking&Wealth ManagementSummit2024heldinCannes,Franceamuch talkedaboutreclusivefigureinthefieldofAIsuccession protocolswasthemuch-awaitedspeakeronthefinalday, attendedbymajorfinancialinstitutions,familyofficesand monarchies.FreshfrompledgestoitsFOinexcessof nd $100Billion,thereclusivefigureemergesthe2 time,the firstbeinginMontreaux,Switzerlandin2021.
Theworldfacespressingchallenges,fromsocialinequality, joblossesduetoautomation,identitysecurityandwars, demandinginnovativesolutionsthattranscendtraditional philanthropy.MeetthephilanthrocapitalistDr.PaulInfante Moñozca,avisionarywhoaddresseskeyissuesbeyond AGIandmergesfinancialsavvywithacommitmentto socialgood.Giventheofficialtitleof“Lakan”(supreme leader)inhisnativeculturalandancestrallandinthe Philippines,thisuniquebreedofphilanthropistrecognizes thataddressingglobalissuesrequiresmorethanjust donations;itcallsforsustainable,scalablesolutionsthat empowercommunitiesandhumanityasawhole.
Asaleadingglobalfigureinphilanthropyandbusiness,he istheChairmanandCEOoftheEUbasedMoñozca FamilyOfficeandtheDr.ABMoñozcaFoundation,he personifiesthespiritofphilanthrocapitalismwithhis mantra:“ImpactHumanity.”Thisguidingprinciplehas fueledhisinitiativesaimedattacklingsomeoftheworld's mosturgentproblems.
Historically,philanthropyhasoftenbeenviewedasaonewaystreet,wealthyindividualsgivingawaymoneywithout astructuredplanforlong-termimpact.However,Paul’s approachflipsthisnarrative.Hebelievesthattrue philanthropyisaboutbuildingrelationshipsandcreating systemsthatupliftentirecommunities.Underhis leadership,theMoñozcaFamilyOfficehasdeveloped frameworksthatnotonlyprovidefinancialsupportbutalso fosterlocalempowermentandinnovationthrueducation.
Philanthrocapitalist Mantra: “Impact Humanity.”
Paul'sworkexemplifieshowphilanthropycanactasa catalystforchange.Byintegratingcommercialstrategies withcharitablegoals,hedemonstratesthatfinancialsuccess canindeedcontributetothegreatergood.Hisinitiatives haveinspiredothersinthephilanthropiccommunityto rethinktheirapproaches,emphasizingcollaborationand sustainableimpactovermerefinancialcontributions.
Throughhisvision,heshowsthatphilanthropyisnot merelyaboutgiving;it’saboutcreatinglastingchangethat resonatesacrossgenerationsas“TechnologicalSingularity” evolves.
Let’s know more about his journey:
MotivationtoEmbarkonPhilanthropy
Paul'smotivationtoenterthephilanthropicsectorstems fromadeep-seatedbeliefinhisroleasaninstrumentfor good.Hearticulatesthatwhenonerecognizestheirgifts, theirfocusshiftstowardsconnectingthedotsoftheirlife journeyasopposedtocreatingthedotswithoutlooking back.
Thisperspectiveallowshimtoseebeyondimmediate challengesandenvisionabroaderimpactonhumanity.His organization’smissionresonateswiththisethos,aimingto createmeaningfulchangethroughstrategicphilanthropic initiatives. The Reclusive
TheInceptionofMoñozcaFamilyOfficeand Foundation
TheDr.ABMoñozcaFoundationwasestablishedinthe early1980s,rootedinacommitmenttocharitableprograms thataddresspressingsocietalneeds.Asthefoundation grew,itbecameclearthataseparateentitywasnecessaryto balanceitsphilanthropicendeavorswithbusiness opportunities.
Thus,in2010,theMoñozcaFamilyOfficewasspunoffto identifyandcapitalizeonopportunitiesthatcould"change theworldwelivein."Thisdualapproachallowsforamore comprehensivestrategythatintegratesbusinessacumen withphilanthropicgoals.TodaytheMonozcaFOhasbotha singleandmulti-familyoffice.
TransitionfromCorporateCareertoPhilanthropy
Paul’stransitionfromacorporatebackgroundto philanthropywasnotmerelyacareershift;itwasa profoundtransformationofpurpose.Havingworkedwith multinationalcompanieslikeQuakerOats,Siemensand PricewaterhouseCoopers,hegainedinvaluableinsightsinto corporatedynamicsandfinancialsystems.
Thisexperienceequippedhimwiththeskillsnecessaryto navigatecomplexchallengesinphilanthropy.Hebelieves thattrueleadershipinvolvesrecognizingone’sgiftsand usingthemforthegreatergood,whichhasshapedhis perspectiveonsocialimpact.
ChallengesFacedinEstablishingtheFoundation
EstablishingtheMoñozcaFoundationwasnotwithoutits challenges.Onesignificanthurdlewassecuringadequate humancapitalandfinancialresourcestosupportits ambitiousgoals.Additionally,navigatinglegalstructuresin SoutheastAsiaposeddifficultiesinobtainingfinancingfor philanthropicprojects.
Toovercometheseobstacles,Paulstrategicallyrelocated theFamilyOfficetotheEuropeanUnionwhilemaintaining thefoundation'soperationsinSoutheastAsia.Thismove allowedforgreateraccesstoresourcesandopportunities whilecontinuingtoservecommunitiesinneed.
TheRoleofTechnologyinPhilanthropy
Today,technologyplaysacrucialroleinenhancing philanthropicefforts.Paulacknowledgesboththepotential benefitsandrisksassociatedwithtechnological advancements,particularlyartificialintelligence(AI).
Paul is a reclusive figure in the field of ‘AI succession protocols’ and fresh from $100 Billion in pledges to its hybrid bank and UBI program.
Ononehand,AIcanproviderapidaccesstoinformation andfacilitateinnovativesolutions;ontheotherhand,it posesethicaldilemmasandrisksofmisuse.Heemphasizes theimportanceofensuringthatAIevolvesresponsibly, aligningwithhumanity'svaluesratherthanundermining them.
TokenizationusingRealWorldAssets(RWA’s)digital currenciesisakeydrivertoitsphysicalandground resourcesencompassingpreciousmetals,historical/ culturalassetsandavatarCOCdata.
The"ContinuityofConscience"AIProtocol
OneofPaul’svisionaryprojectsisthe“Continuityof Conscience”(COC)AIprotocol,designedtosecure successionmandateswithinprivatebankingandwealth management.Thisinitiativeaimstoaddressclients' concernsabouttraditionalbankingsystemswhileensuring ethicaldecision-makingprocesses.Byeliminatingrogue decisionstypicallyassociatedwithtraditionalcustodians, COCseekstocreateamoretransparentandaccountable frameworkforfinancialmanagement.
UniversalBasicIncomeasaSolution
Paulalsoadvocatesforaprivate-sectorledUniversalBasic Income(UBI)asaviablesolutiontocombatchallenges posedbyautomationandtechnologicaladvancements, besidesthecorruptionmostcountriesface.Hearguesthat misconceptionssurroundingUBI,someviewingitasa communistplatform,areunfounded.
Instead,hehighlightsitspotentialtoprovidefinancial securityformarginalizedpopulations,particularlyin emergingeconomieswherejoblossesandtheriseofcrime duetoautomationareprevalent.UBIproponentslike ThomasPaine,MartinLutherKingJr.,StephenHawking andnowElonMuskhavelongrecognizeditssignificance forsocialequity.
LessonsLearnedattheIntersectionofBusinessand Philanthropy
Reflectingonhisexperiences,Paulemphasizesthat effectiveleadershipisrare;trueleaderspossessthevision andcapabilitytoexecuteimpactfulprogramswhich replicateitssuccessmodelwithoutmucheffort.He critiquestheprevalenceofsuperficialexpertiseoften showcasedonsocialmediaplatforms,advocatinginstead forgenuineconnectionsbuiltontrustandcollaborationand thecommunityandclienteleclearlyseen.
Forfutureleaders,hestressestheimportanceof understandingthatrealphilanthropyrequirescommitment beyondfinancialcontributions;itdemandsbuilding relationshipsthatfostersustainablechangefromallwalks oflifeandsustainablesolutionsthatcorrectproblemslong term.
MeasuringSuccessinPhilanthropicInitiatives: EducationisKey
Successinphilanthropyisoftenmeasuredthroughtangible outcomes;however,Paulemphasizesamorenuanced approachcenteredaround"EducatingaMindsetChange." Hebelievesthattruesuccessisreflectedwhencommunities beginaskingcriticalquestionsabouttheirfuturesand activelyparticipatingintheirdevelopment.Theabilityof individualstoretrainthemselvesforaneradefinedby technologicalsingularityisindicativeofpositiveprogress; educationiskey
ImpactfulProjects:ACloserLook
Paulhasspearheadedseveralimpactfulinitiativesthrough theMoñozcaFamilyOffice,focusingonenhancing economicopportunitiesandenvironmentalsustainability acrosstheglobe.
• ProjectBorderssignificantlytransformedthe remittancelandscapeforoverseasforeignworkers (OFWs).
ByinvestinginaSingapore-basedcompanyin2003, transactionfeeswerereducedfrom$10to$3.50within twoyears,benefitingover5millionusersworldwide. Thisplatform,knownasthe"ParmonPayment Network"(PPN),facilitatedcross-bordertransactions andempoweredsmallandmediumenterprises(SMEs) toconnectwithemergingmarkets.Theintegrationof ATMsintothispaymentsystemmarkedapivotal momentformobilebanking,layingthegroundworkfor today'seWallets.
• ProjectSpiritestablishedatrainingplatformfor athletesgloballythroughtheSpiritSportsProgram andSpiritSportsUniversity(SSU).Bypartnering withorganizationsliketheAmericanBasketball Association,theCaltexGolfPro-Am,theManchester UnitedSoccerSchoolandvarioussportsacademies,it providedathleteswithworld-classtraining opportunities.Thisinitiativehassinceevolvedintoa PrivateEquityFundfocusedondevelopingsports teamsandleagues.
Tokenization using Real World Assets (RWA’s) digital currencies is a key driver to its physical and ground resources encompassing precious metals, historical / cultural assets and avatar COC data.
AGI is data driven, thus “beyond AGI” is the challenge for world peace.
• ProjectCoralemphasizesmarineconservation throughinvestmentsinCoralWorldParkUndersea ResortsLtd.andthemaintenanceofselectedmarine reserves.TheMoñozcaFamilyOfficecollaborates withmultinationalbrandstoprotectcoralreefsand marinebiodiversity,ensuringsustainabletourism practicesthatbenefitboththeenvironmentandlocal economies.
• ProjectLegacyconsolidateseffortstoprotectnatural resources,includingwater,energy,andforests. ThroughtheFormulaGreenCorporation,itsupports over300cooperatives,advocatingfora"Resource BasedEconomy"thatprioritizeslocalcontrolover naturalassets.
• Lastly,ProjectCheckmateleadsinimplementinga privatesector-drivenUniversalBasicIncome program.WithinvestmentsinBangkoMaharlikaLtd., dubbed“TheBankofHumanity”,itaimsto decentralizewealththroughtokenizationanddigital currencies,attractingmillionsofregistrantsand emphasizingfinancialinclusioninaneraof technologicaladvancement.ProjectUBIisnowthe “CentralBanktoAutonomousRegions(ARs)” worldwideandensure“successionprotocolsreachthe peopledirectly.”
TheRoleofFamilyOfficesinPhilanthropy
Familyofficesplayanessentialroleinshapingthefutureof philanthropybyprovidingcontinuityandlong-term commitmenttoinitiatives.Unliketraditionalfundswith limitedlifespans,familyofficesaredeeplyrootedintheir founders'legacies,ensuringsustainedsupportfor philanthropicendeavors.Paularguesthatgenuine
philanthropytranscendsexittimelines;itrequiresan enduringdedicationtofosteringpositivechangewithin communitiesasthehistoryandtrackrecordofyourfamily isthekeydriver
FamilyOffices(FOs)haveliquidfinancialresourcesof $100millionandaboveandwithvaluationsofAI companiesshootingthrutheroofinthehundredsof billions,itisraretofindFO’swhobasetheirresourceson itsphysicalassets,onhandorpledgedbyotherFOs.The MoñozcaFOissupportedby7AutonomousRegionsto dateandmultipleSultanatesworldwide,whichshowsthe relationshipprowessofitsPhilanthrocapitalistleadership.
PromotingPoliticalNeutralityofReligionandCulture inHumanitarianEfforts
WhilePaulrefrainsfromcommentingonspecificpolitical initiativesatthistimeduetoongoingboarddiscussionsata localandgloballevelofthecooperatives,associationsand cultural/religiousplatformsheisinvolvedinwiththeUBI programreachingover50countries,heremainscommitted topromotinghumanitarianeffortsfreefrompolitical influence.Hisroleunderscorestheimportanceofcreating platformsthatprioritizepeacebuildingthrough collaborationamongdiversestakeholders.
PersonalValuesInfluencingInvestmentDecisions
Paul’sinvestmentphilosophyisdeeplyinfluencedbyhis valuesregardingresourceaccessibilityforallhumanity.He believesinvestmentsshouldempowerindividualsrather thanimposeburdensthroughtaxationorothermeansdueto whattechnologycandotoday.Thisperspectivedriveshis commitmenttoselectedprojects“whichchangetheworld welivein.”
AspirationsfortheMoñozcaFoundation
Lookingahead,PaulenvisionstheMoñozcaFoundationas a“TorchofTruth”dedicatedtoimpactinghumanity positivelyoverthenextdecade.Hisaspirationsinclude addressingpressingglobalchallengessuchascultural identityprotection,protectionofnaturalresourcesenabling a“dividendforhumanity”andglobaldecentralizationof keyindustrieswhileensuringtransparencyand accountabilitywithinphilanthropicinitiatives.
TheTorchofTruthWeb3/MetaverseMuseumwillbe availablethruselectedcommercialairlinesworldwide startingFy2025.
Pioneering Proactive Cyber Defense Strategies David Chasteen
Thecybersecurityrealmisa labyrinth—amazeofthreats andvulnerabilities.Here, constantvigilanceiscrucialtostay aheadofattackers,andinnovationis thekeytofortifyingdefenses.Inthis continuallyadvancinglandscape,even theslightestmisstepcanhavecatastrophicconsequences;therefore, skilledleadershipismoreimportant thanever.
DavidChasteenisemergingasa seasonedleaderinthisrealmwitha distinctivejourneythatbridgesthe military,intelligence,andnow corporatedomains.Hiscareerpath beganinthetrenchesofnational security,combatingthreatstoUS computersystemsandcriticalinfrastructureduringhistenurewiththe CIA.
Transitioningfromfederalserviceto thedynamictechhubofSanFrancisco, Davidfoundhimselfdrawndeeperinto theworldofcybersecurity.His experienceinstandingupsecurity operationsforthecityandlater assumingtheroleofCISOfortheSan FranciscoPoliceDepartmentunderscoredhisknackfornavigating
complexsecuritychallengeswith strategicfinesse.
Today,asChiefOperatingOfficerat SideChannel,Davidleverageshis formidablebackgroundtodrive forward-thinkingcybersecurity solutions.Hisapproachisnotmerely technicalbutstemsfromamindset cultivatedduringhistimeintheArmy andCIA—amindsetcharacterizedby unconventionalthinkingandaninnate curiosityabouttheinnerworkingsof systems.
Let us learn more about his journey:
ForgingaSecureFuture
SideChannelwasoriginallyfoundedby BrianHaugli,whoservedastheCISO atthePentagon.Davidhadbegun transitioningtotheprivatesectorafter leavingCCSFandhadjoinedtheboard ofdirectorsatCipherloc,apublicly tradedPost-QuantumEncryption company
Seekingtocontinuehisworkasa CISO,DavidconnectedwithBrianjust asSideChannelwasgettingstarted. Theydiscoveredtheysharedsimilar
ideasandgoals,whichledtoDavid becomingapartneratSideChannel.
Ultimately,itmadesensetomerge CipherlocandSideChannel,resulting inthecurrententity.Bythistime, DavidwastheCEOatCipherloc,soit waslogicalforBriantobecomethe CEOofthenewcompanywhileDavid tookontheroleofCOO,overseeing operations.Nick—theCTOand Ryan—theCFOhadpreviouslyheld theserolesatCipherlocandseamlessly transitionedtotheirrespective positionsinthenewcompany.
Theleadershipteamatthenewly formedentityishighlyalignedand collaborative,withDavidnotingthe pleasureofworkingwithcolleagueshe bothlikesandrespects.
Team-CentricPhilosophy
Mostofhiscareer,particularlyduring histimeattheCIA,Davidhadthe privilegeofworkingwithremarkable teams.Hehumblyacknowledgesthat hewasneverthesmartestpersoninthe room,emphasizingthatcollective intelligencealwayssurpasses individualbrilliance.
David Chasteen Chief Operating Ofcer SideChannel
Davidbelievesintheimportanceof clearchainsofcommandand proceduresthatencouragetheentire teamtocontributeideasandtake ownershipofsolutions.Thisapproach hasconsistentlyproventobeabest practice,especiallyasthestakesget higher.Forhim,inclusiveleadershipis notjustethicallyright;it'salsothe mosteffectivestrategy.
ApproachtoCybersecurityand BureaucraticAgility
Peopleoftenassumethatbureaucracies arenecessarilyhideboundanddifficult tonavigate.Davidhasfoundthatinthe militaryandintelligencecommunities, 90%ofindividualsgenuinelyprioritize themission.Whenthereisaclear missionthatpeoplebelieveinandit's communicatedeffectively,a bureaucracycanadaptandchange remarkablyquickly.Thekeyis connectingwithindividualsona personallevel,lookingthemintheeye.
Davidalsoappreciatesthehumanscale ofcitygovernment,notingthatitis mucheasiertofindanddirectly interactwiththerightperson.This directinteractionmakescity governmentmoreagilecomparedto
David attributes his successes to adhering to these principles and recognizes that when his teams haven’t succeeded, it was usually his fault.
thefederalgovernment,capableof rapidadaptationwhennecessary
UnconventionalWisdom
Davidemphasizestheimportanceof mindsetineffectivesecuritypractice. Whileframeworksarehelpfuland necessary,theystillrequirea practitionerwiththeright mindset—someoneskilledinthinking abouthowtobreaktherules.Many securityprotocolsoperateonthe assumptionthatpeoplewillalwaysdo therightthing.
Forexample,manypoint-of-sale devicesthataccepttap-to-payalsoask foraPINbutallowbypassingthePIN byusingthedebitcardasacreditcard. Insuchcases,thePINbecomesamere securitytheater.Ifathreatactorcan bypassacontrol,andifthecontrolis optional,itfailstomitigaterisk effectively.
Davidobservesthathumannature oftenleadstosecurityvulnerabilities. Herecallsworkinginacitybuilding withasecurefrontentrance,but becauseitwasfartherfromthe restaurantswherecityemployeeswent forlunch,theywouldpropopenaback doorclosertotherestaurants,thus underminingthefrontdoor'ssecurity measures.
Ahumanpractitionermustseethe totalityoftheenvironmentand infrastructure,considerhowan adversarywouldviewthe opportunities,understandwhatthe adversarymightwanttoachieve,and thenbuildsystemsthataccountforall thesefactors.Hebelievesthisiswhy havinganexperiencedsecurityleader isfarmorevaluablethansimply relyingonanengineeror,worse,an LLMfollowingachecklist.
HonoringCommitments
Davidhasalwaysfeltsomewhat frustratedbytheconceptof"Veterans Charity."Whileheacknowledgesthe importantworkdonebyveteran serviceorganizations,hebelievesthat veteransshouldnotneedtoaskfor handouts.
AccordingtoDavid,Americaowesits veteransthehealthcareandbenefits theywerepromised,muchlike employeesareowedtheirsalaryand healthcareaspartoftheir compensation.It'snotafavor;it'sa responsibility
Throughhisexperience,hehaslearned thatleadership,asaparadigm,is overrated.Agreatleadercannotmake abadteamgood,butabadleadercan makeagoodteambad.Leadership comeswithresponsibilities,andgood leadershonorthoseresponsibilities. Successisduetohavingagreatteam, notnecessarilybecauseofagreat leader.Evenifoneisagreatleader, honoringcommitments—doingwhat onesaystheywilldo—isparamount. Thismanifestsinnumeroussmall, oftenmundaneways.Forinstance,if leaderstelltheirteammembersthey areentitledtoleavebutdon’tcreate opportunitiesforthemtotakethat leave,theyarefailingintheir leadership.
When there is a clear mission that people believe in, and it's communicated effectively, a bureaucracy can adapt and change remarkably quickly.
Empoweringteammemberstomake decisions,exercisejudgment,and utilizetheirstrengthsiscrucial.Ifa leaderforcesteammembersto constantlyremindthemaboutbenefits orapprovals,thatleaderisfailing. Respectingteammembersby providingthemwithbenefits, autonomy,self-determination,credit, andfaircompensationiskeytogood leadership.
Davidattributeshissuccessesto adheringtotheseprinciplesand recognizesthatwhenhisteamshaven’t succeeded,itisusuallyhisfault.This mindset,ingrainedintheArmy's officerculture,issomethinghebrought
to
IAVAandhascarriedwithhim throughouthiscareer
TheUrgentNeedforProactive Cybersecurity
Davidobservesthatinformation campaignsbyforeigngovernments, organizedcrime,andother transnationalthreatactorsare effectivelylegalintheUnitedStates. Withcriticalinfrastructurelargelyin private,state,orlocalhands,thereisa significantchallengeinhowtheU.S. militaryandnationalsecurity structures,whicharedesignedto protectgeographyandmilitaryassets, canpivottodefendthisinfrastructure.
Thesestructuresdonotownanddonot haveclearlegalauthoritiestoeven observemuchofthiscritical infrastructure.
DavidnotesthattheU.S.tendstobe reactiveratherthanproactivein addressingsuchthreats,oftenwaiting forhigh-profilecatastrophesbefore allocatingthenecessaryfiscaland policyresourcestomitigatethese threatsproperly
Thecurrentcorporateincentives exacerbatetheissue,withrisksoften socializedwhileprofitsareprivatized. Thenumberofseriousbreachesmade publicisjustafractionoftheactual breachesoccurring.Consequently, consumers,citizens,andinsurance companiesareexposedtounmeasured levelsofcyberandprivacyrisk,with noeffectiveregulatoryregimeto counterthesetrends.
Therehavebeensomehigh-profile casesofCISOsfacingfederal prosecutionforlyingtoinvestigators anddefraudinglimitedregulatory structures.Whilethisisastepinthe rightdirection,aslongasitremains profitabletoimposeriskoncustomers andtaxpayersnon-consensuallyand breakthelawwithoutfacingserious consequences,theseissueswillpersist.
Davidbelievesthesituationwill worsenbeforeitimproves.Smart organizationswillmaketherelatively smallinvestmentsneededtogetahead oftherisk,whilelessprudent organizationswillcontinuetoplayfast andloose,joiningthegrowingranksof thosedestroyedbytheirunwillingness torecognizetherealityofthethreat.
,, ,,
Wealth consists not in having great possessions, but in having few wants.
- Epictetus
Fawaz Ghazal
Revolutionizing the Digital Lending Transformation in Finance
Leading the Charge in Accessible Financial Solutions in Bahrain!
Astraditionalbankingfalters undertheweightofevolving customerexpectations, innovativeleadersareemergingto reshapethefinanciallandscape.Fawaz Ghazalstandsatthevanguardofthis transformation,championinganewera ofaccessibilityandefficiencyin finance.
Withover22yearsofexperienceinthe financialservicessector,heistheCEO ofFloossBahrainBSC,the Kingdom'spioneeringdigitallending company.Hismissionisclear: democratizeaccesstofinancial resourceswhilesimplifyingtheuser experience.Inanindustryoften boggeddownbyoutdatedpractices, Fawaz’sinnovativeapproachleverages digitalplatformstostreamlineloan processes,makingfinancial managementmoreintuitivefor consumers.
Hisextensivebackgroundincludes leadershiprolesatglobalgiantslike OrascomTelecomandZain,wherehe excelledinsales,productdevelopment, andstrategicpartnerships.
Thiswealthofexperienceequipshim withauniqueperspectiveontheneeds ofbothconsumersandbusinesses, allowinghimtocraftsolutionsthat resonatewithtoday’sdigital-savvy clientele.
Fawaz’svisionextendsbeyondmere transactions;heaimstoenhance economicgrowthandstabilityby ensuringthatfinancialservicesarenot justaccessiblebutalsouser-friendly. AsheleadsFloossBahrainintothe future,heexemplifiestheinnovative spiritneededtobridgethegapbetween traditionalbankingandthedigitalage,
provingthatwiththerightleadership, financialempowermentiswithinreach foreveryone.
Here are the interview highlights: Canyoupleaseintroduceyourself andyourmotivationtoembarkon thissector?
IamFawazGhazal,aseasoned financialservicesprofessionalwith over22yearsofexperienceinthe industry.IamcurrentlytheCEOof FloossBahrainBSC,thefirstdigital lendingcompanyintheKingdomof
Building and coaching a high-caliber team ensures my ability to delegate tasks where I can focus more on growing the company and reduce the requirements for the CEO in daily operations, thus ensuring a healthy work-life balance in the long term. ‘ ‘ ‘ ‘
FawazGhazal CEO FLOOSSBAHRAINB.S.C.
Bahrain,whichaimstodemocratize financialservices.Iholdabachelor’s degreeincommunicationsand ElectronicEngineering,aswellasan MBAfromNYIT.
Beforethisrole,IhadservedasCEO ofPaymentInternationalEnterprise, whereIledthecompanytoobtaina licensefromtheCentralBank, launchedasaPaymentService ProviderintheKingdom,andsecured thefirstMasterCardissuerlicensefor anindependentissuer.
Ialsooversawthelaunchofthelargest QR-acquiringpaymentnetworkinthe Kingdom,aswellascustomized paymentsolutionsformorethan20
ministriesandauthorities,alltelecom operators(STC,Zain,Batelco,and cross-borderservices).
Couldyoupleasegiveabrief introductiontoyourcompanyand itsinceptionstory?
Floossisthefirstinstantregulated Sharia-compliantserviceinthe KingdomofBahrain,wherethe companychangedthegame. Customerscanapplyandgetfinancing from$260to$4000withinseconds! Withnopaperwork,rigidbanking conditions,Anytime,Anywhere:Your FinancingApplicationCanBeDone Anytime,Anywhere.Floosspromotes theconvenienceofdigitizingfinancial
servicesandreducingthetimeconsumingprocessesforcustomersfor asimpleexperience.Floossislicensed byCBBasafinancingcompanyandis intheprocessofexpandingtothe KingdomofSaudiArabia.
Whathasbeenthebiggestchallenge you'vefacedinyourroleasCEO, andhowdidyouovercomeit?
Themainchallengesatthelaunchof Floossweretheregulatoryobstacles. WeworkedwithEDBandCBBto issuenewrulesthatsupportdigital financingbylaunchingFloossfirstin Sandbox,thensecuringalicenseand launchingittotheBahrainmarketin 2023.Currently,weareawaitingfinal
licenseapprovalforKSA,whichwe expecttolaunchinQ12025.The secondchallengewasraisingequity anddebttoensurethecompany's abilitytomeetthehighdemandinthe market.Isuccessfullyraisedmorethan $17millioninequityanddebtby workingwithmultiplesourceslike familyoffices,banks,privateequity, VCs,andinvestmentbanks.
Howdoyoumaintainahealthy work-lifebalanceastheleaderofa company?
Buildingandcoachingahigh-caliber teamensuresmyabilitytodelegate taskssoIcanfocusmoreongrowing thecompanyandreducethe requirementsfortheCEOindaily operations,thusensuringahealthy work-lifebalanceinthelongterm. Additionally,Itrytotakeafamily vacationeverysixmonths,evenfora fewdays,torefresh.
Howdoyoufosterapositiveand productivecompanyculture,and whatroledoyouplayinshapingit?
It’sacontinuouseffortbytheCEOto buildaculturethatissafetofailbut alsodemandshighproductivityand creativitybyempoweringmembersof theteamtotestnewideasand supportingthemiftheyfailorsucceed. Thisensuresasafe,creative,and collaborativeenvironment.
Whatarethemostimportant qualitiesorskillsyoubelievea successfulCEOmustpossess?
• Buildingandcoachingleaders
• Buildapositive,creative,and safeenvironmentwheretheteam canflourish.
• Abilitytodrivenewbusiness linesandrevenue
Howdoyouapproachstrategic decision-making,andwhatfactors doyouconsiderwhenmaking criticalchoicesforthecompany?
Severalfactorscomeintoplay
• Value-drivenbythestrategic decisionandhowthatenhances theproduct'spositionorthe company'sabilitytocompetein themarket
• Capexandopeximpacts,along withfuturecashflows
• Allstakeholders's feedback—employees,customers, theboardofdirectors,and investors’aspirations
Inyourexperience,whatarethekey driversofinnovationandgrowth withinyourindustry?
Continuousproductinnovation,the abilitytorunmanyexperiments, customerfeedback,andthecourageto comequicklyfromfailureswhile double-downonsuccess.
Howdoyoustayinformedabout industrytrends,emerging technologies,andchangesinthe competitivelandscape?
• Readbooksandkeepupdating yourskills.
• Attendregionalandinternational conferencesandexhibitions.
• Readaboutcompetitors' successesandfailures.
Whatisyourleadershipstyle,and howdoyoumotivateandinspire yourteamtoachievethecompany's goals?
Leadingbyexample,Ifosterand challengetheteamforinnovationand takeonresponsibilityandresults.
Whatadvicewouldyougiveto aspiringentrepreneursorbusiness leaderslookingtofollowinyour footsteps?
Successisalongjourneyfullof learningandfailure;don’tstop learning;ensuretohavethebestteams around,anddon’tacceptmediocrity.
Whatisyourvisionforthefutureof yourcompany,andwhatstepsare youtakingtoensureitslong-term sustainabilityandgrowth?
Expandingbothourproducts,like embeddedfinance,withourpartnersin insurance,health,andtelecom,and expandingregionallyintheGCC,the MiddleEast,andinternationallyto serveallMuslimpopulations worldwide.
,,
,, Successisnotthekeyto happiness.Happinessisthekeyto success.Ifyoulovewhatyouare doing,youwillbesuccessful.
- Epictetus
Keith Davies
Modernizing the Bahamian Finance Industry
On a Mission to Position Bahamas as a Global
Leader in Digital Currency!
TheBahamas,likemanysmallislandnations,facesa uniquechallengeintheexcessivelygrowingworldof finance:howtomodernizeitsfinancialinfrastructurewhile maintainingeconomicsovereigntyandimprovingthelives ofitscitizens.MeetKeithDavies,CEOofKanoo,a visionaryleaderwhohasmadeithislife'smissiontosolve thiscomplexpuzzle.
Keith,aveteranoftheBahamianfinancialsector,hasmade ithislife'smissiontomodernizethecountry'sfinancial infrastructurewhilemaintainingeconomicsovereigntyand improvingthelivesofitscitizens.Hislatestventure, Kanoo,issettolaunchthenation'sfirstCentralBank DigitalCurrency(CBDC)-enabledpaymentservice provider,amovethatcouldfundamentallyalterhow Bahamiansinteractwithmoney
Thisgroundbreakinginitiativeisjustthelatestinhislong careeroffinancialinnovation.Fordecades,hehasbeenthe drivingforcebehindtheBahamas'financialevolution.His fingerprintscanbefoundonvirtuallyeverymajor developmentinthecountry'sfinancialsector,fromcrafting theregulationsthatgovernthesecuritiesindustryto buildingthenation'sstockexchange.
Keith'sjourneyisanexampleofhiscommitmentto progress.Hehasbeeninstrumentalindevelopingthe clearingandsettlementsystemsforcapitalmarketsand creatingthegovernment'stradingplatform.Eachstepofhis careerhasbeenmarkedbyadedicationtopushing boundariesandembracingnewtechnologies.
As a leader, you must sometimes make unpopular decisions to protect the future of the business, staying true to the principles that guide you. This commitment helps you navigate tough choices, knowing it's for the greater good. ,, ,,
Keith Davies CEO Kanoo
Butit'shisworkwithKanoothattrulyshowcaseshisvision forthefuture.ByembracingCBDCtechnology,he'snot justkeepingTheBahamasrelevantintheglobalfinancial conversation;he'spositioningthecountryasapotential leaderinthedigitalcurrencyspace.Thismovecouldhave far-reachingimplications,notonlyforTheBahamasbutfor smallnationsworldwidegrapplingwithsimilarchallenges.
Forhim,thisisn'tjustabouttechnologicaladvancementor keepingupwithglobaltrends.Attheheartofhisworkisa deep-seateddesiretoimprovethelivesofhisfellow Bahamians.Heseesfinancialinnovationasameanstoan end—awaytocreatemoreopportunities,increasefinancial inclusion,andboosteconomicgrowthinhishomeland.
AsKanoopreparestorolloutitsinnovativepayment solutions,theeyesofthefinancialworldareonthe Bahamas.WithKeithatthehelm,thissmallislandnationis poisedtomakeabigsplashinthefutureoffinance.His blendofregulatoryexpertise,innovativespirit,and commitmenttosocialgoodmakeshimauniquefigurein theworldoffinance.
Davies'storyisapowerfulreminderthat,withtheright leadershipandvision,eventhemostdauntingchallenges canbecomeopportunitiesforgroundbreakinginnovation. AsTheBahamasstepsintothespotlightoftheglobal financialstage,itdoessowithaleaderwhounderstands thattrueprogressismeasurednotjustintechnological advancementsbutinthepositiveimpactonpeople'slives.
Below are the interview highlights:
Pleasebriefusaboutyourselfandwhatinspiredyouto embarkonthissector.
Ithriveoninnovationandgrowth,whichhavedefinedmy career.I'vehelpedbuildtheregulationsthatdevelopthe securitiesindustry,reputableTheBahamas'stockexchange andcapitalmarketsclearingandsettlementsystems,and createdthegovernment'stradingplatform.Ialsolaunched thefirstCentralBankDigitalCurrency(CBDC)-enabled paymentserviceproviderinthecountry
Theinspirationcamefromtheopportunitytoworkon transformativeprojectsthatimprovethelivesof Bahamians.Itwasanaturalprogressionformetotakeon thesechallengesandgivemybesttoachieveourgoals.
Canyougiveourreadersaninsightintoyourcompany anditsinceptionstory?
Kanooisadigitalpaymentserviceproviderlicensedbythe CentralBankoftheBahamas.Ourdigitalwalletallows merchantsandconsumerstotransactdigitallybasedonthe corevaluesofsecurity,prosperity,empowerment,and convenience.
Ourinceptionbeganwhenourchairman,NicholasRees, introducedmetoatechnologycontactin2016or2017.We quicklystarteddiscussingwhatwecouldachieveandbegan developingaprojectplan.NicholasandIworkedclosely, puttingtogetherthepiecestobringKanootolife.Since then,we'vebeenworkinghandinglove,andtherestis history.
Whatmotivatesyoutoleadandinspireyourteam towardsachievingbusinessgoals?
Asaservantleader,Imeasuremysuccessbythesuccessof thoseinmycharge.Itakeresponsibilitywhenthingsgo wrongandupliftmyteamwhenthingsgoright.Myfocusis onlearningandimprovement,encouragingmyteamtosee mistakesasopportunitiesforgrowth.It'saboutcontinuous progressandhelpingothersrecognizeandachievetheir potential.Ifindjoyinseeingotherssucceedandexceed theirownexpectations.
Howdoyoubalanceshort-termsuccesswithlong-term success?
Inthisbusinessandmanyothers,it'samarathon,nota sprint.Whilequickeruptionsofenergyaresometimes needed,it'sessentialtofocusonyourultimategoaland workbackwardfromthere.Balancingshort-termsuccess withlong-termsustainabilityrequiresconsistent,positive steps.Short-termwinsandlossesarelessimportantthan maintainingsteadyprogress.Failuresarepartofthe learningprocess,andrecognizingfleetingopportunitiesis crucial.Stayinggroundedandunderstandingbothshorttermandlong-termgoalsiskeytoasuccessfulbusiness strategy
Canyoushareasignificantchallengeyoufaceasa businessleaderandhowyouovercameit?
Ihadtopivotastrugglingbusinessmodelearlyinmy careerafterraisingsubstantialcapital.Duetovarious
At Kanoo, we aim to move at the speed of life, whether walking, jogging, or running, providing tools that make life easier. ,, ,,
misstepsanduncontrollablefactors,wefacedfinancial trouble.Ihadtoquicklychangeourcorebusiness elements—staff,practices,products,services,and technology—tomakeitwork.
Asaservantleader,myprioritywasensuringmyteam's success,helpingthemfindnewpositions,andtakingcareof them.Thisapproachpaidoff,asformeremployees continuedtosupportthebusiness.
Overcomingthischallengerequiredhardwork,dedication, focus,andtheabilitytopivot.Iimplementedalong-term, goal-orientedplan,stayingfocuseddespitethenormal businesscycle'supsanddowns.
Howdoyoufosterapositiveandinclusivework environmentinyourorganization?
Leadershipsetsthetoneforanorganization.Ifleadersaren't positiveandinclusive,itaffectseveryone.Ibelievein practicingwhatIpreach,alwayslookingforthebestinmy team,andneverblamingthemforhonestmistakes.Lest somethingbeintentionallyillegalorharmful,Iseeitasa jobwelldone.Idemonstratethisthroughmyworkethic andexpectthesamefrommyexecutives,certifyingthatit permeatestheorganization.Asafamily-orientedcompany, weshowcareandsupport,andourpeoplerespond accordingly
Whatroledoesinnovationplayinyourbusiness's growthandsuccess?
Innovationdrivesourbusinessgrowthandsuccess.In fintech,wesolveproblemsbyprovidingwhatpeoplewant, notwhatwethinktheyneed,andbyapproachingtheminan invitingway Wemeetpeoplewheretheyareandguide themtowheretheywanttobe.
AtKanoo,weaimtomoveatthespeedoflife,whether walking,jogging,orrunning,providingtoolsthatmakelife easier.Innovationiscrucial,soweconstantlythinkabout what'snextandhowtoimprove.Ourgoalistooffer solutionsthatpeoplefindessentialandcan'tdowithout.
Howdoyouadaptyourleadershipstyletodifferent personalitiesandworkstyleswithinyourteam?
Iinsistonhiringpeoplesmarterthanmewithdifferent personalitiesandleadershipstyles.Bringingindiverse perspectivespreventsfailureandpromotesgrowth.Inthe Bahamas,wecomparethistoamixedconchsalad,whichis deliciousbecauseofitsvariety
Wewantteammemberstoembracechange,bescrappy, shakethingsup,andthinkoutsidethebox.Myleadership styleiswelcomingandencouragesindividuality,allowing ideasfromtheleftfieldtothrive.Thisapproachmakesusa strongerorganization.
Canyoudiscussatimewhenyouhadtomakeadifficult decisionasabusinessleaderandwhatfactorsinfluenced yourdecision-makingprocess?
Ioncehadtomakethedifficultdecisiontoscaledown operationsatacompanyIwasleading.Althoughitwas hardtosendpeoplehome,Iunderstoodthatthebusiness neededtosurvivetoeventuallygrowandhelpmorepeople. Ibalancedbusinessneedswithpersonalcare,ensuringthat employeesweresupportedastheytransitionedaway.
Asaleader,youmustsometimesmakeunpopulardecisions toprotectthefutureofthebusiness,stayingtruetothe principlesthatguideyou.Thiscommitmenthelpsyou navigatetoughchoices,knowingit'sforthegreatergood.
Whatdoyoumeasuretomeasurethesuccessofyour business,andwhatmetricsdoyoufocuson?
Inbusiness,theprimarygoalisprofit.AsCEO,myroleis tosafeguardapositivereturnoninvestmentforour investorsandshareholders.Achievingthisrequiresgood businesspractices,corporategovernance,anddeliveringa high-qualityproductatacompetitivecost.Ourproduct mustbesleek,scalable,andmeetmarketneeds.Wealso needaskilled,motivatedteam.Byfocusingonthese elements,weaimtogenerateprofitanddrivebusiness growth.
Whatadvicewouldyougivetoaspiringbusinessesthat wanttomakeapositiveimpactintheirindustry?
Goodworkcanbehard,butworkingsmartiskey.Working foryourselfmeanslonger,harderhours,butit'srewarding whenyoureffortsbenefityoudirectly.Focusanddiscipline areessential.Yourvisionisunique,andnoteveryonewill seeitrightaway Youmustclearlycommunicateyour visiontootherssotheycanadoptandsupportit.
AtKanoo,whenItalktobusinessesaboutbecoming merchants,theyquicklygraspandfeelourvision.Many havetoldme,"I'msold.Iwanttobepartofthis,"within minutes.Thisemotionalconnectionmakesiteasyforthem tojoinus.Whenpeoplearesoldonyourvision,delivering servicesbecomeseffortless,astheyareeagertobepartof whatyou'redoing.
Coaching is unlocking a person's potential to maximize their growth. ,,
- John Whitmore
The
Thelandscapeofphilanthropyischanging,andthe
shiftisinfluencedbythenewwaveofstrategic givingthatgoesbeyondtraditionalfrontiers. Venturephilanthropyleadsthischangebyseekingtocreate sustainablesocialimpactbymergingtheprinciplesof venturecapitalwithcharitablecontributions.Beyonddirect financialintervention,thereisalsoemphasisonbuildingthe capacityandstrategicpartnershipintendedforlong-term change,notshort-termrelief.Venturephilanthropyseemsto bethebestwayofdealingwithcomplexsocialproblemsas theworldcontinuestotryandfindaneffectivesolutionfor them.
Philanthropyfundinghas,overthepastcoupleofyears, experiencedatremendousshiftindirectiontowardsamore engagedandresults-orientedapproach.Withgrowingdonor
interestinmaximizingtheirimpacts,venturephilanthropy hasgainedgroundasaplausiblealternative.Thisapproach targetsinvestinginnonprofitorganizationswiththe intentionofmakingthemmoreoperationallyeffectiveand sustainable.Notonlydoventurephilanthropistsdonate funds,buttheyalsoofferexpertiseandrelatedsupport; thus,venturingphilanthropyredraftstheserviceofgiving andenhancesacultureofaccountabilityandmeasurable results.
VenturePhilanthropyEmerges
Venturephilanthropyispremisedonthefactthatsuccessful philanthropiccontributionsinvolvemorethanjustmoney giving.Itcallsforadedicationtolearningwhatnonprofits needandforcollectiveefforttowardimprovingthe effectivenessofthesame.Thestatisticsrevealthatventure philanthropyisagiantinthelandscapeofphilanthropyand manyhavenotedhigherimpactsbecauseoftheventure approach.Forexample,researchstudiesshowthatimpact realizedbyanonprofitwithventurephilanthropycanbeas highas50%comparedtothatachievedwhenutilizingthe conventionalsourcesoffunding.
CollaborationandInnovation
Asventurephilanthropycontinuestomoveforward, coordinationamongvariousactorshasbecomeextremely important.Philanthropicgroupsarenowbringingtogether resourcesandexpertisetoattackcomplexsocialissues together.Whilethiscollaborativestyleofphilanthropy magnifiesimpact,italsoencouragesasharedsenseof accountabilityamongthefundersthemselves.Ashasbeen reported,nearly70%offoundationsareexploringthe possibilityofco-fundingopportunitiesasamethodto increaseeffectiveness.
Inaddition,theintegrationoftraditionalphilanthropic approacheswithventurecapitalhasgivenbirthtonew fundingmodels.Forinstance,impactinvestingisa relativelynewformofventurephilanthropythatseeks financialreturnsaswellasmeasurablesocialoutcomes.The convergenceofinterestsisreshapingexpectationsaround charitablegivingandencouragingdonorstothinkcritically abouthowtheircontributionscandrivemeaningfulchange.
NavigatingChallenges
Despiteitspromisingoutlook,venturephilanthropyfaces severalchallengesthatmustbeaddressedforittoreachits fullpotential.Onesignificanthurdleisaligningthediverse
goalsofvariousstakeholdersinvolvedinphilanthropic initiatives.Differentmotivationscanleadtoconflictsin priorities,makingitessentialforallpartiestoestablish clearobjectivesfromtheoutset.
Measuringlong-termimpactisalsoquitechallenging.Most organizationshavedesignedframeworkstoassess outcomes,butthereisaneedforstandardmetricsthatwill beabletoeffectivelycapturetheeffectivenessofventure philanthropicinvestments.Asthisfieldmatures,therewill beanongoingdialogueandcollaborationamong practitionerstorefinethesemeasurementtools.
TheFutureLandscape
Thefutureofventurephilanthropyisthereforebrightasthe sectorcontinuestoevolveandmeetchangingsocietal needs.Increasedinterestinsystems-changingphilanthropy, whichseeksrootcausesratherthansymptoms,signalsa growingappreciationfortheideathatsustainablesolutions requirecomprehensiveapproaches.Bytakingasystemic changeapproach,venturephilanthropistswillbeabletouse theircapitaltoaffectbigger,moreoverarchingchangesin society.
Inaddition,thevaluesandexpectationsofnewgenerations ofdonorsenteringthephilanthropicarenaarelikelyto shapefuturetrendsingiving.Youngerphilanthropistsoften focusonsocialjusticeandenvironmentalsustainability, whichcreatesdemandforinnovativeapproachesthatalign withtheseprinciples.
Conclusion
Venturephilanthropyisattheintersectionofinnovationand compassion,offeringatransformativeapproachto charitablecontributions.Byprioritizingstrategic investmentsinnonprofitorganizationsandfostering collaborationamongdiversestakeholders,thismodelnot onlyenhancestheeffectivenessofgivingbutalsopavesthe wayforlastingsocialchange.Aswemoveforwardintoan uncertainfuture,embracingthisdynamicformof philanthropymayholdthekeytobuildingresilient communitiescapableofthrivingamidstchallenges.
- Franklin D. Roosevelt
Sofia Skiredj
Navigating Investment Management
Investmentisthecornerstoneforeconomicgrowthand
financialstabilitybecauseitprovidesacriticalmethod ofresourceallocationinwaysthatencourage innovation.Giventhecurrentdynamicsofthemarketplace, properinvestmentmanagementmeansfarmorethanjust analysisoffinancialdata;ithastodowithstrategic foresightinthefaceofrisksandopportunities.Onegood exampleofthisimpactthatthoughtfulinvestmentstrategies canhave,bothonindividualportfoliosandatthelevelof theeconomyitself,is Sofia Skiredj
Sofiahasover15yearsofexperienceinthefinancialsector inMorocco,withherbeingaseasonedleaderininvestment andassetmanagement.AstheCEOofCFGBankAsset Managementfrom2020,sheoverseesroughly2.4billion USDinassetsandtakespartinkeyfunctionsinthe ExecutiveCommitteeofCFGBank.Hercommitmentto corporategovernanceisalsoillustratedthroughher positionsontheboardsofASFIMandNetwork-Economy, anorganizationfromSwitzerlandcommittedtosustainable initiatives.
Sofia'spassionforassetmanagementisrootedinitsblend ofanalyticalrigorandstrategicforesight,andwhatshecan dotocreateimpactonthelong-termvaluebasis.She believeseffectiveleadershipisabouttrust-buildingand empoweringteams.
We were in a discussion with Sofia on how her role as CEO will impact the bank in long-term. Let's delve into it.
Couldyoupleasebriefusaboutthecompanyandits inceptionstory?
CFGBank,foundedover30yearsago,originatedfrom CasablancaFinanceGroup,atrailblazerinMorocco’s financialmarkets.Guidedbythecorevaluesofinnovation (AlAmam),hopeandpatriotism(AlAmal),andtrust(Al Aman),CFGBankisknownforitscommitmentto excellence,ethicalpractices,andfosteringMorocco's economicdevelopment.Thebank’smissionistoprovidea premium,personalizedbankingexperienceaccessibleto clientsfromdiversebackgrounds.
Sincetheinceptionoftheassetmanagementindustry,its subsidiaryCFGBankAssetManagementhasplayeda pivotalrole,offeredinnovativeandtailoredinvestment solutionswhilemaintainingastrongmarketposition. Together,CFGBankandCFGBankAssetManagement embodyaforward-lookingapproach,leveragingcuttingedgetoolsandtechniquestodeliverhigh-valuefinancial servicesacrosstheMoroccanfinanciallandscape.
Whatdrivesyourpassionforleadingthiscompany,and howdoesthatinfluenceyourdecision-makingprocess?
Beyondthenumbers,it'stheabilitytonavigatechallenges anddrivemeaningfulresultsthatcontinuestomotivateme. LeadingCFGBank’sAssetManagementdivisionisnotjust aboutachievingfinancialsuccess—it’saboutinspiringtrust, empoweringteams,andfosteringasenseofpurposein
Beyond the numbers, it's the ability to navigate challenges and drive meaningful results that con nues o mo vae me.
Sofia Skiredj CEO CFG Bank Asset Management
By con nuing o invest in an open, inclusive culture where team members feel empowered and valued, we will not only drive innova on but also a ract op talent.
everythingwedo.Forme,leadershipisdeeplypersonal;it meanscreatinganenvironmentwherepeoplefeelvalued, supported,andmotivatedtopushtheirlimits.
Thisapproachshapesmydecision-making,ensuringevery choiceisgroundedintrust,accountability,andalong-term vision.AtCFGBankAssetManagement,weprioritize authenticrelationships,deliveringonpromises,andsetting thestandardforintegrityinthefinancialsector.Together, wearenotonlyshapingthefutureofbankinginMorocco butalsobuildingaculturewhereindividualsthrive, challengesareembraced,andexcellencebecomessecond nature.
Canyoudescribeapivotalmomentinyourcareerthat significantlyshapedyourleadershipstyle?
Apivotalmomentinmycareerwasduringmytenureas SeniorPensionFundManageratCIMR.Beingrelatively earlyinmycareer,Iwastaskedwithpresentinginvestment strategiestoaboardcomprisingprominentfigures, includingCEOsofmajorlistedcompaniesonthe CasablancaStockExchange.
Thisexperiencerequiredacarefulbalanceofexpertiseand humilityandpushedmetorapidlydevelopconfidence, adaptabilityandmeticulousattentiontodetail,masterclear andimpactfulcommunication,andadapttotheexpectations ofhigh-levelstakeholders.
Itwasanincrediblyformativeperiodthatshapedmy leadershipstyle,teachingmetheimportanceofpreparation, strategicforesight,andbuildingtrustthroughtransparency andprofessionalism.
Howdoyoubalanceshort-termpressureswithlongtermstrategicgoals,andwhatframeworksdoyouuseto guidethisbalance?
Webalanceshort-termpressureswithlong-termgoalsby stayingfocusedonourstrategicvisionwhileremaining flexibletorespondtoimmediatechallenges.
Werelyonaframeworkthatincludesscenarioplanningto anticipaterisks,KPImonitoringtotrackperformance,and regularalignmentwithstakeholderstoensuredecisions servebothimmediateneedsandthebroadervision.This approachallowsforagilitywhiledrivingsustainable growth.
Whatarethemostsignificantchallengesyou'vefacedas aCEO,andhowhavetheychangedyourperspectiveon leadership?
OneofthemostsignificantchallengesIfacedasCEOwas takingontherolein2020,justbeforetheCOVID-19 pandemichit.Navigatingtheuncertaintiesofaglobalcrisis forcedmetoadaptquickly,balanceshort-termsurvival withlong-termstrategicgoals,andguidetheorganization throughanunprecedentedsituation.
Thisexperiencetaughtmethevalueofagility,clear communication,andhavingastrong,supportiveteam.It reinforcedtheimportanceoftransparencywithstakeholders andstayingfocusedonourcorevalues,evenintimesof crisis.Italsochangedmyperspectiveonleadership, emphasizingtheneedforempathy,resilience,andthe abilitytopivotquicklyinresponsetochanging circumstances.
Whatroledoesfeedbackplayinyourleadership approach,bothingivingittoothersandreceivingitfor yourself?
Iencourageopendialogueandconstructivecriticism,asit fostersgrowthandcontinuousimprovement.Personally,I valuefeedbackasanopportunitytorefinemyleadership styleandmakeinformeddecisionsthatbenefitthe organizationasawhole.
Howdoyouenvisionthecompany'simpactonits industryoverthenextdecade,andwhatstepsareyou takingtorealizethatvision?
Overthenextdecade,weaimforCFGBankAsset Managementtosetthestandardforahealthy,collaborative workcultureinourindustry.Ourstrengthtodayliesinour uniqueapproachtomanagement—horizontal,motivating, andcenteredonfosteringapositiveenvironment.By continuingtoinvestinanopen,inclusiveculturewhere
teammembersfeelempoweredandvalued,wewillnot onlydriveinnovationbutalsoattracttoptalent.This commitmenttopeople-firstmanagementwillbekeytoour long-termsuccessandwillhelpusremainaleadingplayer intheindustry
UNDERSTAND IMPORTANCE OF COMMUNITY INVESTMENT INPHILANTHROPY
Thebackboneofanythrivingsocietyhasalways
beenagoodcommunity.However,theexistenceof numerouscommunitiesthatfacechallengesand thushindertheirgrowthandwell-beingisaphenomenon thatcannotbeignored.Justlikethewayadelicateplant needsattentionandresourcestogrowwell,community investmentinphilanthropyisaphenomenonthatneeds resourcesandcommitmentincreatinganenvironment whereitthrives.Organizationsandindividualsareinvesting intheircommunitiesnotonlyintermsofimmediateneeds butalsoinsettingupaplatformforsustainable development.Itcantakemanyforms:monetary,and volunteerism,eachcontributinguniquelytowardthe improvementofthequalityoflifeforresidents.
Statisticsindicatecommunityinvestmenthasmadea dramaticimpactonhowsuchcontributionscanrejuvenatea neighborhood.Intermsofexamples,studieshavebeenable toascertainthatforeachdollarinvestedintocommunity development,thereis,onaverage,aneconomicreturnof $2.60.Themultipliereffecthasalsobeenoneoftheroutes throughwhichphilanthropicworkwouldcatalyzeactivity inlocaleconomies,createjobsandenhancepublicservice delivery.Beyondthis,investingcommunitieswithactively participatinginvestmentschemestendtoshowlowercrime prevalenceandhigherschoolattainment.Suchresultspoint outtheneedforacollaborativeapproachtophilanthropy, whereeveryentity,fromlocalbusinessestoresidents,plays aroleinshapingtheirsharedfuture.
TheRoleofPhilanthropyinCommunityInvestment
Philanthropyfosterscommunityinvestmentbecauseit providesrequisiteresourcesandsupporttoinitiativesthat solvesocialissues.Foundationsandnot-for-profit organizationsofteninitiatetheprocessofidentifyingthe needforcertainareasinacommunityandmobilizing resourcesthatcaneventuallyanswertheseneeds.Dueto thestrategiccapabilityofphilanthropytofocuson neglectedareas,ithasthepotentialtofillgapsthathavenot beenaddressedbyconventionalsourcesoffunding.Inthis respect,philanthropiceffortscanactuallytargettheneediest populationsandbringtherequiredsupporttothem.
Anexampleofafeasibleapproachbyoffering philanthropicgroupsisimpactinvesting.Impact investmentsarenotonlydonationssincetheyinvolveboth financialreturnsandsocialcontributionsthroughreturnson investment.Forexample,foundationsinvestinlocal businessenterprisesorsocialorganizationsthatpromise improvementwithintheirneighborhoods.Thiscontributes notonlycapitalbutalsopromotesthesenseofownership amongcitizensbecausetheyviewdirectpositiveresults emanatingfromtheinvestmentsthemselves.
Successincommunityinvestmentcanonlybeachieved throughcollaboration.Thecollaborationofmany stakeholders,includinggovernmentagencies,businesses,or evennonprofits,createsarobustecosystemthatsupports sustainabledevelopment.Researchfindingssuggestthat strongcollaborativenetworksincommunitiesbuild resiliencetodealwithotherproblemssuchaspovertyand unemployment.
Importantly,communityparticipationindecisionsleadsto investmentsthatfallwithintheneedsofthepeople.Inthis regard,theparticipativemethodnotonlybuilds accountabilitybutalsoputsresidentsinapositiontoown theirsurroundings.Byfocusingonwhatislikelytobetold bytheverypeopleaffectedbythesocialproblemunder consideration,philanthropistswillbeabletomakemore targetedapproaches.
EconomicEmpowermentofCommunityInvestment
Acompanyderivessomucheconomicimportancefrom communityinvestment,evenapartfromthereturnon investment.Companiesthatputtheirmoneyin communitiesoftenbecomesatisfiedwithbrandsand employees.Astudyrecentlyfoundthat70%ofemployees preferworkingforasociallyresponsiblecorporation.
Thismeanscorporatephilanthropycouldbeverykeyin retainingtalentandattractingitatthesametime.
Inaddition,localcommunityactivitiescarriedoutby organizationsalsoaffectthegeneralreputationofsuch businesses.Asociallyresponsiblecompanywillmake consumerswanttosupporttheproductsorservicesofsuch abusiness.Thisinterlinkbetweencommunityinvestment andbusinesssuccessproducesawin-winsituationwherein bothpartiesmutuallybenefitthroughtheirsupport.
SystemicIssuesSolvedThroughPhilanthropy
Despitetheseclearadvantagesofcommunityinvestment, systemicchallengesremainthatpreventrealprogress.Most low-incomeneighborhoodslackaccesstocapitalandother resourcesneededtosupportdevelopment.Moreandmore philanthropicorganizationsarerecognizingtheirrolein dismantlingthesebarriersbyadvocatingforpolicychanges andfundingmechanismsspecificallytailoredtomeetthe needsofunderservedcommunities.
Forinstance,therearesomefoundationsthathavefounded CommunityDevelopmentFinancialInstitutions(CDFIs), offeringaffordableloansandfinancialservices,particularly tolow-incomeindividualsandbusinesses.Through enablingaccesstocapital,theseinstitutionsempower communitiestoinvestintheirownfuturesand,indoingso, encourageeconomicgrowth.
Conclusion:ACollectivePathForward
Communityinvestmentisnotsimplyaformofcharity;itis apartoftheoverallbuildingblockstowardcreating resilientsocieties.Thiswouldmeanchangingthelivesof peoplewithsystemicproblemsbyempoweringlocal voices.Thephilanthropysectorcancreatepersistentchange thatbenefitsbothpartiesinvolvedbyfocusingmoreon collaboration.Recognizingthevalueofinvestinginone's communitydrawsusclosertoafuturewhereallindividuals havethemeanstothrive—provingthatextraordinary resultsforsocietyasawholecanbeachievedwhenwe investtogether
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