International Investor - Summer Issue 2021

INTERNATIONAL INVESTING IN UKRAINE’S BOOMING TECHNOLOGY SECTOR

SORTING THROUGH THE HYPE OF ESG SPRING ISSUE

THE SPOTLIGHT MUST SHIFT

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GKFX: THE RISING STAR OF THE FOREX WORLD

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EDITOR’S NOTE 2021 remains a challenging year for the investment community, the race to vaccination is lagging and the future is unclear. Despite this, the world is on the mend and solutions are emerging. In this issue we discuss some alternatives that investors should consider, such as access to renewable energy in emerging markets and some more (p. 40).

Environmental, social, and corporate governance (ESG) as an option for investors, but what is it? and why it is important. We present the most important features of this trend (p. 14) In a conversation with Roman Nikitov we examined Ukraine’s booming tech sector, how the country is becoming a leading player in Central and Eastern Europe (p. 10). Also, how the British Virgin Islands are now a vital intermediary in the global economy (p. 32) This edition counted with a number of important interviewees in the brokerage service. They shared their insights with International Investor, for them delivering a top-notch service and prioritizing the customer is key. The way the market is developing, investors should be a niche player that offer specialist and tailor-made solutions, some advice f rom Barents Re’s CEO (p. 44) Every time is an honour to announce the winners of the International Investor awards, companies that know how to thrive even in the most difficult conditions.

Congratulations to all! (p.69) Enjoy, Domenica Andrade

CON T EN TS

CONTENTS 10

32

10

20

32

Investing in Ukraine’s booming technology sector

Exclusive Interview with the ISP Group Team

The British Virgin Islands

In conversation with Roman Nikitov, Co-Head of Venture Capital and Tech Investments at ICU Ventures

Winners of Best European Fund Launch 2020

Reinforcing and enhancing its position as one of the world’s most

14

24

36

Sorting through the hype of ESG

Soaring alternative asset ambitions demand solid operating foundations

Al Hamraa Insurance Company, leading Iraq’s insurance industry

Alternatives have become essential components in investors’ portfolios

A challenging player among Iraqi insurance companies since 2001

18

28

40

GKFX: The rising star of the forex world

High street closures

The spotlight must shift

Delivering top-notch brokerage services since day one

to the brink

A call to shine the light on renewable energy in emerging markets

What is ESG and what makes it good or bad?

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44

62

66

Interview with Gerardo Garcia, CEO & Chairman of Barents Re

Oman LNG in brief

LeoPrime the next-gen Multi-asset broker

Barents Re a niche player that offers specialist and tailor-made solutions to clients

Providing a challenging working environment for growth and development in the global LNG industry

Insightful conversation with the award-winner of Best Multi-asset Broker 2021 v

48 Forex4you one of the most competitive trading platforms Interview with Marina Strauss, CEO of Forex4you winner of Broker of the Year in Asia 2021

52 Shalakany shares its history and expertise

40

56

Awarded with Corporate Law Firm of the Year

56 Embraer introduces the Praetors Different by design, disruptive by choice

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INVESTING IN UKRAINE’S BOOMING TECHNOLOGY SECTOR In conversation with Roman Nikitov, Co-Head

We prefer to invest in technology companies with

of Venture Capital and Tech Investments at ICU

Ukrainian or CEE DNA. This means that the founders

Ventures, a Kyiv-based venture capital fund that

are often from the CEE region or the engineering and

invests in technology companies with strong ties to Ukraine and Eastern Europe. ICU Ventures is part of the ICU group, one of the largest and

software development is done in the region. Startups with Ukrainian roots or powered by local developers continue to amaze us with their creativity and business acumen. Ultimately, we try to keep our portfolio 75% focused on companies that have ties to CEE, while

and the winner of such and such award from

the remaining 25% we keep open for companies

international investor.

from different regions that we believe are particularly

Ukraine’s booming technology industry is already an important driver of economic growth in the country and

WHY IS THERE SUCH A COMPELLING OPPORTUNITY IN THE TECHNOLOGY SECTOR?

wider Eastern European region. The industry is expected

We think the technology sector is one of the most

to continue to grow and projected to generate 10 billion

promising areas in terms of Ukraine expanding into the

USD by 2025, according to Tech Ukraine. Roman Nikitov

global market. There is an exciting new generation of

discusses the investment opportunity in Ukraine’s fast

talented Ukrainian engineers with a quality educational

growing technology sector, how ICU Ventures helps

background and creative ideas. We strongly believe in

ambitious local entrepreneurs build global businesses,

their potential and committed to helping our developers

and the role Ukraine’s technology companies can play in

to expand globally. The success of our technology

continuing to help the country develop and sharpen its

companies is the best promotion for Ukraine as one of the

competitive edge.

world’s leading technology powerhouses globally.

WHY DID YOU LAUNCH ICU VENTURES? We launched our venture capital arm in 2018 with a clear

WHAT DOES YOUR INVESTMENT IN COMPANIES INVOLVE?

strategy to invest in promising tech startups. We often

We pride ourselves on investing more than just capital

invest in companies with Ukrainian roots but not limited

in a company. For instance, we provide our founders

to those. We tend to invest in companies during the late

with strategic support and a network of contacts in the

seed or Series A stage. ICU Ventures has already invested

United States and Europe to expand their companies

between $200,000 and $1 million in 12 startups. In addition

internationally and stimulate growth. Even if we source

to committing investments, the ICU Ventures team also

opportunities from other geographies, we will help our

works with the startups on their strategy to help them

portfolio companies link up with talented Ukrainian

through their next rounds of fundraising.

engineers. The access we offer to high-quality, low-cost

interesting.

Ukrainian engineering talent is the key reason established

WHY DO YOU BELIEVE THERE IS A STRONG VENTURE CAPITAL OPPORTUNITY SPECIFICALLY IN UKRAINE AND CENTRAL AND EASTERN EUROPE? We strongly believe in the intellectual potential of Ukraine and Central and Eastern Europe (CEE), that is a key factor in our strategy to invest the region. In particular, we think Ukrainian and CEE technology companies can be globally competitive and that technology companies will account for an increasing amount of global GDP moving forward.

States invite are interested in speaking with us. Aside from making investments, ICU Ventures helps startups with strategy consulting and the next rounds of the fund raising.

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WHAT ARE YOUR FUTURE PLANS FOR ICU VENTURES? We plan to continue developing our venture capital business and invest in startup companies. The Ukrainian few years and we expect that to continue this year and beyond. We are looking for founders and entrepreneurs who are highly ambitious. We will only invest in founders who want to build companies that will compete on the global scale and disrupt industries. We are also looking for products that solve real problems while remaining easy to use.

PLEASE CAN YOU HIGHLIGHT SOME OF YOUR CURRENT PORTFOLIO COMPANIES IN THE CEE REGION? 3D Look is a Ukrainian startup developer of the technology, that enables creation of a person’s 3D model based on a photo. Company’s products combine the Vision, Machine Learning and 3D Matching technologies are to process and measure the human body from just two photos from any mobile device with high accuracy.

Apostera is a software products developer for the car industry, combining most sophisticated modern techniques. Apostera platform enables active safety applications such as lane keeping and departure warning, forward/side/rear collision avoidance, path planning, takes its hummocks, holes and pits, up and down slopes, curves and turns.

Respeecher is a Ukrainian startup, which specializes in creating a digital model of human voices. Their product It opens up a number of new opportunities for studios

Hivecell is a New York-based Edge-as-a-Service company the category of edge computing. In contrast to cloud computing, edge technology allows faster and more reliable on-location high-volume computing power for businesses with multiple locations.

Augmented Pixels is a company that develops products augmented reality. The company’s product enables autonomous navigation for robots in GPS-denied environments as well as having features that allow to create 3D maps for navigating in unknown spaces through a smartphone or virtual/augmented reality devices (indoor navigation).

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INVE ST I N G IN UkRA I N E’ S BOOMI N G T EC hN OLOGY SECTOR

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SORTING THROUGH THE HYPE OF ESG

By Leanne Keddie

As members of the global investment community, you no doubt have heard the growing hype lately about ESG. Listening to some, it will save us all, listening to others, it is merely greenwashing and of no use for anyone. So what is ESG anyways and what makes it good or bad? how can you sort through the hype?

ESG refers to the environmental, social and governance factors

should be measured and what ESG means. This could relate environmental category or how diverse the management governance comes from the popular Cadbury Report, which

and includes mechanisms such as the board of directors and executive compensation amongst others.

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SO RTING ThR OU Gh T hE h YPE OF ESG

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There is growing excitement over ESG factors as evidence

To sort through the hype of ESG, you need to be clear on the reliability of the information you are using to make

environmental responsibilities, as well as having good

your decision. While larger investors, like BlackRock,

corporate governance structures, tend to perform better

may be able to engage with management to better understand and verify ESG data, smaller investors may

to the rise in sustainable responsible investing (SRI) and

be left to rely on published information to make ESG

the use of ESG information to make investment decisions

decisions. Until we have mandatory, audited, multistakeholder perspective sustainability data to make our

has seen their assets under management grow to over $9

decisions on, we really need to read these sustainability

trillion, in part likely due to their consistent message that

reports, and gather our ESG data, with a critical eye.

sustainable.

discloses, and possibly even more important to identify what they are leaving out.

Where does this ESG information come from and how is it used in making investment decisions? This is where around the world prepare sustainability reports and this information is voluntary and not audited. So why does this matter? This means that you cannot rely on this reporting. The information may not be comparable are audited, and, due to the voluntary nature, may be missing critical information.

It is also important to understand the perspective that example, the Global Reporting Initiative (GRI) is one of the most popular reporting standards in the world; it takes a multi-stakeholder perspective. This means that many

provides multiple snapshots from different angles to performance in relation to sustainability. Other reporting options, such as the proposed Sustainability Standards Board (SSB) by the International Financial Reporting Standards (IFRS) or the Sustainability Accounting Standards Board, take a more focused investor view. To continue with the photography analogy, it is more akin to taking snapshots from the views of various investor groups, but this likely will not capture all angles of the business. The risk here is that investors may miss out on key information that could be provided by having a more holistic view. If sustainability is the goal, then a more holistic view is required. Presumably, what is a truly sustainable business, is also a good investment, since it will be around in the long-run.

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GKFX: THE RISING STAR OF THE FOREX WORLD The winner of the Best Overall Forex Broker of 2020 Award, GKFX keeps on delivering high-quality brokerage services A part of the Global kapital Group, the Europe-based broker GkFX* has been consistently delivering top-notch brokerage services since the day it was born. Relying on the Group’s expertise and know-how, GkFX has quickly secured a place among the most reputable brokers in Europe.

Serving both retail and professional clients, GkFX has processed over 300 million client transactions so far and currently delivers multi-asset CFD trading in respect of more than 500 underlying instruments.

CLIENTS ABOVE ALL ELSE

awards from independent industry

GkFX provides outstanding local

experts, including the Best Overall

support for over 20,000 clients in 5

Global Forex Broker, Best Forex

languages, 24 hours every trading

Broker, Best CFD Broker, and Best

day. Clients can access daily analysis

Forex Platform.

articles, the latest market news, and weekly analysis videos for free.

On top of that, GkFX offers free

ADDED SERVICES

educational material in e-book and

GkFX currently offers Forex, Indices,

video explainer formats. Always

Commodity, Stocks, and Crypto CFDs

prioritizing client satisfaction, GkFX

with fast execution times. As a broker

has steadily built a loyal client

with a broad range of instruments,

base over the years, and through

GkFX prioritizes providing low

continuous innovation, it aims to

spreads to make these assets more

meet its clients’ ever-changing

accessible for traders. Starting from

needs.

February, the spreads on Gold and Silver CFDs are as low as 0.2 and 0.3

INNOVATION IS THE KEY

respectively.

Constant innovation is the number one driving force behind GkFX’s

Traders can also enjoy trading with

success story. In 2020, GkFX’s website

the help of leading signal providers

has gone through a complete

such as Autochartist and Trading

renewal with the purpose of

Central. Reliable trading platforms

perfecting the customer experience.

like MetaTrader 4 & 5 are also

Thanks to its customer-oriented

available for all clients.

approach and highly motivated team which consist of innovative minds, GkFX successfully achieved most of its goals in the past decade and proudly holds many prestigious

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FURTHER INFORMATION www.gkfx.eu *GkFX is the registered trademark of AkFX Financial Services Ltd which is with the Malta Financial Services Authority.

80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

5 LANGUAGES, 500+ TRADING INSTRUMENTS, 300M+ TRANSACTIONS

GKFX is the trade name of AKFX Financial Services Ltd (AKFX). 82% of Retail Client accounts lose money when trading CFDs with AKFX. You should consider whether you can afford to take the high risk of losing your money.

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EXCLU S IVE INTE RVIEW WIT h T hE ISP TEAM , WINNERS OF BEST E UR OPEAN F U N D L AU N Ch 2020

EXCLUSIVE INTERV ISP TEAM, WINNER EUROPEAN FUND L

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in 1993. It is majority owned by CLO veteran Roy Tal and lead

by CEO Marco Bartolucci. The group services private clients, blend of latest technology, high-touch service and the deep expertise of our interdisciplinary teams. The group specializes in Structured Credit, Fixed Income and Structured Products and

VIEW WITH THE RS OF BEST LAUNCH 2020

offers Paying Agent, Placement Agent, Custody and Wealth & Asset Management Services.

With over 2 decades of investment experience in CLOs the group

CLO Opportunity fund, Ardesia. The fund is co-managed by Ron Zeltzer and Simon Gold. Ron joined the group in 2007 to develop the CLO platform that Roy Tal set up. Simon joined last year after managing Bank of America’s CLO trading desk in London for 6 years. The team recruited Philip krausz last year to support in trading and analysis. The fund returned to its investors 41.64% in

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EXC LU S IVE INTE RVIEW WIT h T hE ISP G ROU P TEAM, WI N N E R S OF BEST EU R OPEAN FUN D L AU N Ch 2020

EXCLUSIVE INTERVIEW WITH THE ISP GROUP TEAM, WINNERS OF BEST EUROPEAN FUND LAUNCH 2020 Q: RON, HOW DID THE CLO MARKET PERFORM IN 2020 AND HOW DID YOUR FUND REACT TO THE SWIFT MARKET CONDITIONS LAST YEAR?

Q: SIMON, WHERE DO YOU SEE THE CLO MARKET IN RELATION TO OTHER ASSET CLASSES GOING FORWARD?

The biggest winner in 2020 was obviously the US tech

It was always anticipated that 2021 would be a year where

then mezzanine tranches of European Collateralized

of money’, and so far, this has failed to disappoint. One nuance, however is the relative insulation credit markets

Despite the volatility last year, single-B rated CLOs showed

have experienced when compared to government

total returns of over 17% and BB rated CLOs returned

bond and equity markets. The volatility has only had a peripheral impact on pricing in credit trading and whilst

both sides of the Atlantic. If you look at Investment Grade

it is not correct to say these markets have been immune

risk, European BBB rated CLOs returned over 7%, slightly

from wider moves in the US treasury market and the

below IG bonds. The European CLO returns are even more

wide range trading in US stocks; investors will have so

impressive if you consider the Euro appreciation against

far felt they have not been included in those particular

most major currencies.

rollercoasters.

Our fund was structured last year after long discussions

Take February as an example; in a month where the peak

how we can navigate through volatile markets and take

to trough moves in tech stocks saw it almost revert to a bear market and the 10-year US treasuries headed for 1.5%, we actually saw the S&P European Leveraged Loan Index

portfolio manager to overweight certain type of risks without rating constraints. We also wanted a structure

strong demand for loans. The consistency in the ELLI year

that can navigate through a volatile environment without

to date stands in stark contrast to the broad and volatile

facing the risk of large early redemptions that force the

range trading in the S&P/Nasdaq and the VIX.

portfolio manager to sell in the market good assets at a disadvantageous time.

From an investor standpoint therefore, the question is what to make of this dichotomy. Do we see that credit really is less risky or shall we say, not part of the

and mezzanine tranches of CLOs at times of great

speculative bubble that has emerged in US tech stocks

uncertainty. Once we saw that the market is rebounding,

and rates or is it only a matter of time before contagion

we replaced quickly our senior risk with more junior risk.

effects our markets too? The reality will only be known

Our investments in single-B tranches represented a great risk adjusted return where we initially positioned the risk,

data points that suggest that for the CLO market on

however the market quickly bounced back to levels where

which we focus, there is a case for outperformance in the

we could monetize the gains that we expected to play out

current market environment that we expect to persist in

over a longer period of time. We replaced this risk with

2021.

BB’s in the new issue market, where deal covenants were particularly f riendly for debt investors. Without planning to, we turned over the portfolio one and a half times, just because we reacted to changing market conditions. This resulted in 37.10% positive performance in 2020, while keeping our risk bucket relatively low. Today our exposure to the riskiest bucket (equity and single B) is about half of the portfolio.

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Q: RON, WHERE DO YOU SEE LEVERAGED LOANS FUNDAMENTALS AND HOW RESILIENT IS YOUR FUND TO A HIGHER DEFAULT RATES IN REGIME?

When we are considering an investment a large part of

The collateral in CLOs has become riskier, in line with all

look at the current portfolio but also try to optimize for

asset classes. Although companies raised more cash in absolute terms last year and despite the drop in real rates since COVID, interest coverage levels have come under pressure. Another point of concern is the increase in leverage among high yield issuers; there are more issuers with DEBT/EBITDA multiples at 6 or greater and this is a direct result of the access to the increased money supply,

on the investment. With our current portfolio it takes ~14% of cumulative portfolio losses before we show negative returns in the long run – this is equivalent to 28% of the collateral defaulting and recovering at 50% (long term annual default rates in European leveraged loans average 2.6% and recovery rates average 67%). I can tell you that as investors in the fund ourselves, we still go to sleep at night

But not everything is so gloomy. The sharp increases in

with comfort.

loan prices have allowed collateral managers to clean up their portfolios and in the vast majority of cases, without taking meaningful losses in their portfolios. We see a decrease in assets that are rated CCC or below as well as a sharp decrease in low priced assets. This results in higher overcollateralization ratios for the debt investors in CLOs.

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SOARING ALTERNATIVE ASSET AMBITIONS DEMAND SOLID OPERATING FOUNDATIONS

By Ben Goderski, Regional Sales & Relationship Manager at SS&C Advent

Alternatives have enjoyed periods of investor interest and asset growth before, but never on this scale. Quantitative

optional add-on, they have become essential components

easing programs continue to suppress bond yields,

in investors’ portfolios, argued J.P. Morgan Asset

driving investors towards riskier assets. Add in record

Management’s 2021 Global Alternatives Outlook : “Facing

equity market highs and concerns about unsustainable

stretched valuations in traditional markets, limited

valuations, and the conclusion is traditional 60/40 and persistently low bond yields with asymmetric risk, investors have made a decided turn to alternatives in the owners’ needs. The pandemic has only added to the acceleration of this trend.

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S OARING ALTE RNATIVE ASSE T AMBI T I ON S D EMAN D SOLI D OPER AT I N G FO U N DAT I O N S

ALTERNATIVE POPULARITY Global alternative assets under management have already the most prominent alternative asset class and is

Private equity’s fee, payment and return calculations add to the reporting complexities. Generating reports and providing transparency into a fund’s management and and loss components, management fees, partnership expenses, waterfall calculations, and capital calls and drawdowns.

All regions will see growth, especially Asia. As investors want to expand their number of fund manager relationships, opportunities for new funds, strategies and markets abound. The hedge fund industry—somewhat out of favor after a run of performance disappointments

Accounting for and reporting on a closed-end fund’s ongoing tracking of its committed capital and unfunded commitments. With their multiple rounds of investments, private equity funds must also rebalance their P&L since inception and the capital calls and distributions to

DON’T FORGET THE OPERATIONAL SUPPORT While the impetus for wealth and asset managers to diversify their clients holdings has never been more evident, managing and maintaining a portfolio of

investors whenever new investors come in. Calculating those rebalances can be highly manual and tedious without the right automated system functionality.

alternative assets is no simple matter. Aside from the

•

and technological complexities involve processing and

instrument classes. Rather than simply holding a position

reporting the different asset types. from the products have to be managed.

Relying on a mix of spreadsheets, in-house built technology and legacy vendor systems, as many

Take the varying terms of the credit/debt fund structures within each private equity transaction. Complex waterfall calculations, expense allocations, hurdles, tiered incentive

and reputational risk demands both expert knowledge and a sophisticated, multi-asset class solution

of interest and valuation processes need monitoring and managing. Traditional legacy systems and spreadsheets

expenses and tax impacts among every investor is a

struggle to accommodate these processing particularities,

particular challenge. heightened investor and regulatory scrutiny also call for enhanced transparency and reporting capabilities. having won the latest International Investor awards for

• Flexible scalability

Best Private Equity Software Provider and Best Portfolio Management Software Provider combined with decades

are on the rise. But so too are regulators’ transparency

of expertise supporting investment managers and asset

demands and clients’ service and control expectations.

servicers across the alternatives space, we’ve seen the

Wealth and asset managers keen to diversify into

challenges up close. So what are the main issues to watch

alternative asset classes or ramp-up allocations need

for?

an automated investment and operational support infrastructure with complete instrument coverage and

• Look-throughs, exposure monitoring and reporting Look-through to the underlying assets is vital for today’s hybrid and private equity funds. Tight integration of the investment and investor accounting records gives investors transparency into the portfolio’s constituents and their performance—functionality many systems struggle to provide. The ability to track investors across opt-out capabilities to clients on particular investment opportunities.

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from these market trends.

KEEP INVESTORS HAPPY TO ATTRACT ALLOCATIONS Deep and broadening investor interest in the alternatives space presents compelling opportunities for investment managers. But investors—especially institutions—expect faultless compliance capabilities and high-quality servicing throughout the lifetime of an investment relationship. In turn, managers must prove they can deliver them during due diligence.

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HIGH STREET CLOSURES: HOW PRIVATE EQUITY HELPS PUSH FIRMS TO THE BRINK

By Stephanie Giamporcaro For the Conversation and International Investor Magazine

With long-established names like Debenhams, Topshop and many others vanishing from the town centres across the Uk, it would be easy to blame the rise of internet shopping – spurred on by the pandemic – for the decline of the high street. But there are also more hidden forces at work. Investment decisions made years ago by private longstanding retailers to the brink.

The presence of private equity is both a symptom and a cause of the disappearing high street. Yet, private equity can seem far removed from most people’s lives – rich that few have ever heard of. The truth is that their choices can actually have a big impact on the rest of the economy, including our workplaces, environment and community.

Private equity refers to a type of investment in companies that aren’t publicly listed on the stock exchange (or the purchase of public companies to make them private).

Private equity investors have a reputation for buying companies, loading them with debt to fund strategic without concern for the long-term future of the companies.

Take the example of Debenhams. The company was taken shops for £495 million and leasing them back from the new owners.

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It was then returned to the stock market in 2006, making

Yet while it is good that a rising number of private equity players are embracing more responsible principles, the

leaving the company saddled with a debt of £1 billion –

road ahead is still full of challenges. It’s not enough for

ten times what it had before the private takeover. This

funds to have ESG targets. Investors such as pension

left it ill-prepared to deal with the rise of internet rivals. need to be extra-vigilant about how private equity players liquidated and the brand bought by online clothes retailer

behave. This is made all the more urgent now that private

Boohoo, putting around 12,000 jobs at risk.

equity owners of struggling businesses will be allowed to access taxpayer-backed loans to support them in the

This is far from a unique occurrence for the high street.

wake of the pandemic.

Ordinary people also can start questioning how their own

in the years after private equity takeovers. A study by a

investments such as pensions are being used. They can

number of campaign groups found that ten of the 14

also engage with their MPs on the regulation of private

largest retail bankruptcies in the US since 2012 involved

equity regarding some of their most predatory investment

private equity owners, and that such companies were

practices.

twice as likely to go bankrupt as public companies.

Debenhams’ failure sadly shows that we may all ultimately

RESPONSIBLE INVESTING IS INCREASING

pay the price for short-term investment goals. With the

Given these problems, the approach of private equity should now be making decisions they believe will have a years. But evidence suggests things might be changing. A emphasis on the environmental, social and governance (ESG) sustainability of their investments, as a way of

A recent PWC survey found 91% of private equity investment strategy or ESG policy. Last summer more than 400 asset managers, controlling more than US$1.6 trillion (£1.2 trillion) of other people’s money, signed up to the United Nations’ principles for responsible investment (PRI), which provide a guide for how to incorporate ESG issues into investment practices.

they protect workers’ rights around decent wages, pensions and severance packages. Adopting responsible the fundamental problems of private equity around assets stripping and loading up on debt. But it could get the private equity industry to review some of their more contested investment strategies if they clash very systematically with their proclaimed social impact aspirations.

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THE BRITISH VIRGIN ISLANDS – WELL POISED TO USHER IN A NEW ERA OF GLOBAL GROWTH

By Simon Filmer

: The British Virgin Islands (BVI) continues to reinforce and enhance its position as centres and a hub for cross border investment and trade. Despite facing some of its toughest challenges

These are admirable accolades, but even more that the BVI has overcome in recent years. Even through the devastation caused by hurricane Irma in 2017 and the ongoing impact of the global COVID-19 pandemic, the

in recent years, the BVI has maintained its policy

resilient, ensuring that the BVI has kept its position as a

of international collaboration to ensure it meets the

key hub for global investment and trade.

highest global standards. Its prominence has been recognised and further validated by the numerous accolades received from independent bodies.

A VITAL INTERMEDIARY IN THE GLOBAL ECONOMY The BVI’s role as a neutral intermediary cannot be overstated. Clients can swiftly set up a new BVI structure that is globally recognised and accepted for international

global transactions, from Initial Public Offerings (IPOs) to complex debt restructurings with revenue and incorporation numbers only slightly below those of 2019. strong expectations that 2020’s numbers will be exceeded by the close of this year.

business. Many such clients are from emerging markets and economies, and it can be helpful for them to use a neutral jurisdiction, particularly at a time of international tension. Such structures assist to provide economic 75 per cent of hong kong’s hang Seng Index consists of companies with direct linkages to the BVI. The BVI’s tax neutrality provides important economic advantages, are often misunderstood by the general public.

regulatory bodies - and has not gone without recognition.

In the most recent edition of the Global Financial Centres centre f rom the Latin America and Caribbean region and the top-ranked British Overseas Territory. Recent awards include Best Offshore Financial Services Provider Global 2020 (CSI); International Financial Centre of the Decade (European CEO); Best Provider International Financial Services 2021 (World Commerce Review) and two awards with International Investor – International Offshore Financial Services Provider of the Year (Global 2021) and

For example, a business in one country may use a BVI entity to invest in commercial real estate in another country. Any taxes levied on the commercial real estate use of that commercial real estate are returned to the home country where the company pays income and other taxes on them. But the BVI intermediary collects no corporate taxes, leaving more money to be repatriated to the home countries providing and making use of the capital.

CEO of the Year, Offshore Financial Services (Global 2021).

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The sums involved are not trivial. At a global level,

the NCA in 2018. The BVI currently shares information with

independent research conducted in 2017 by Capital

more than 200 countries around the world.

Economics, showed that the BVI mediates more than US$1.5 trillion of investment globally and contributes over

Regulations remain ever evolving in response to new risks

US$15 billion in tax revenues annually to governments

or emerging products such as cryptocurrencies and initial

around the world. The BVI has earned its reputation as

coin offerings. As a result, the landscape is getting more

a truly global centre, with a strong presence in markets

complex, but in the face of shifting global regulations, the

across the globe. key markets including China and the

BVI has retained its agility and adaptability, keeping up to

rest of Asia, for example, are responsible for more than

date with the latest changes and ensuring compliance.

40 percent of the investment mediated through the BVI. Latin America is another key market, with over US$114

The launch of BVI’s Fintech Regulatory Sandbox stands

billion of outward investment stock mediated through

as another example of this innovative approach. The

the BVI creating 330,000 jobs and US$0.9 billion in tax businesses to conduct live testing, identify areas for kingdom and Europe combined, the BVI is responsible product or service complies with legal and regulatory The Overseas Development Institute (ODI) estimates

requirements. As well as being an effective light-touch regulatory regime, such initiatives are helping to drive innovation, and contributing towards the development of

countries in the last decade.

a strong and entrepreneurial talent pool.

STAYING AHEAD OF GLOBAL REGULATORY STANDARDS In an increasingly complex regulatory landscape,

with great agility and resourcefulness in overcoming

the BVI has remained steadfast in its commitment

an array of challenges in recent times. In 2021, the BVI

to remain current with the latest global standards

stands as one of the most competitive and respected

through collaboration with international organisations, governments, and regulators.

a new era of global growth. Underpinning this is the BVI’s unique position as a stable and secure jurisdiction facilitating cross border economic collaboration and

integrity. It adheres to both the OECD’s Common

investment, which crucially, is safeguarded by an ongoing

Reporting Standard (CRS) and the US Foreign Accounts

commitment to the highest global standards.

Tax Compliance Act (FATCA) for the automatic exchange of tax information.

A long-serving member of the OECD’s Global Forum on Tax and Exchange of Information and the Financial Action Task Force (FATF), the BVI also participates in including the Financial Stability Board, as well as the International Organisation of Securities Commissions (IOSCO) and the Egmont Group of Financial Intelligence Units.

A key example of the BVI’s progressive approach can be Secure Search system (BOSSs) in 2017. The cutting-edge electronic search engine has provided the relevant BVI Authorities with a searchable database that provides owners. The BVI’s BOSS system has been lauded by global law enforcement authorities, such as the Uk’s National Crime Agency (NCA), and has made vital contributions to was integral to disclosing information that warranted the

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AL HAMRAA INSURANCE COMPANY, LEADING IRAQ’S INSURANCE INDUSTRY for long-term projects. The insurance industry in Iraq has Individuals, families, businesses, properties, and assets

witnessed a fast-paced development since the release

are exposed to different types and levels of risks. The

of the Insurance Law no.10 in 2005. Insurance is vital for

insurance industry in today’s world has become a

developing countries like Iraq because it encourages the

prominent and crucial part of individuals’ and businesses’

virtue of savings among individuals, creating employment opportunities for the whole nation. Both savings and

country’s future economic growth by providing stability to

employment are essential factors for the economic growth of Iraq.

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Al hamraa Insurance Company, since it began its

At Al hamraa, we make sure to approach our clients in a

operation in 2001, has been a challenging player among

customer-centric way making their needs our priority. The staff at Al hamraa ensure this is always practiced as they

sector in general. Al hamraa Insurance has provided

are the most professional and experienced staff in the

professional consultancy and advice to both corporates

insurance industry in Iraq. The employees at Al hamraa

and individuals for the past years to protect their assets,

are carefully selected based on their experience and their

property, liability, and earnings. While doing all the latter,

areas of expertise to provide the highest quality of services to our clients.

customer base f rom both corporates and individuals.

Our success is attributed to the various insurance services we provide to our clients in several different areas. The

The company’s vision rests on increasing the insurance

process of our work with the clients is based upon a

awareness among all Iraq’s population while setting the

transparent relation, and it’s divided into stages because

standard of excellence among other insurance providers

we recognize that the most critical aspect of our work is to keep our client’s business services safe and continuous.

the right services at the right time for the customers.

On the other hand, the company’s mission is to use a customer-centric approach to provide the most affordable

the client’s business; we take the time to dig deep into

and professional services to its clients while educating

their goals, objectives, and where their company stands in

them on insurance importance.

the market to understand the risk exposure they might be exposed to.

Al hamraa stands out in the industry by being creative in the services they provide; the company recognizes that the insurance industry in Iraq can be challenging due to the vulnerable environment. Therefore, Al hamraa always strives to enhance its level of services to keep up with the international standards of insurance providers to safeguard and protect its clients from any misfortunate circumstances they may encounter.

services we offer vary between life products and general the risk mitigation we assessed to advise our clients on

insurance products.

relevant risk prevention processes and policies. Moreover, we begin the marketing process for our client’s program

Our life product insurance policies include life insurance, personal accident insurance, health insurance, and travel insurance. On the other hand, our general

the client’s program, ensuring that it evolves with their

insurance policies have covered the smallest to the

business objective to remain ahead of all sorts of risk

most considerable details that may encounter the

exposures.

client’s business and might cause threats and risks to these businesses. Al hamraa general insurance policies

As our client’s trusted advisor, we always ensure the insurance, marine insurance, all types of engineering and for our clients. The values that hold our company is a

construction insurance, cash in transit insurance, aviation,

combination of excellence, innovation, accountability, and

marine, and last but not least employee and employer’s

commitment. At Al hamraa Insurance we compel to be

liability insurance. The extensive detailed packages we

loyal to our client’s stakeholders and their employees as we believe that human assets are our greatest strength.

of the need that we must be ready for minor gaps and be aware of the vulnerability aspects of our client’s life and

loop inf rastructure to secure and maintain the sensitive

business.

data and information that already exists and ensure their safety f rom future risks and vulnerabilities. Thus, data

Our future vision rests on the belief that we will be able

integrity is the backbone of our company and our main

to become the leading insurance company in Iraq while

priority.

taking a major role in the economic development and we aim to attain Iraq a place among the developed countries

Al hamraa Insurance offers a variety of cost-effective

in terms of being aware of the importance of insurance

and advanced solutions for its clients. It recognizes the

with the various services we provide. This constant

extent to which our clients value their life, properties, and

dedication towards improving our services to the clients is

business, and it is aware of their need to secure them against unexpected losses and damages. The various

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THE SPOTLIGHT MUST SHIFT A call to shine the light on renewable energy in emerging markets By Jacco Minnaar

Developing countries hold a special place in my heart. I’ve

In 2020, the worldwide urgent need to respond to

lived and worked in them and travelled and made friends

COVID-19 cast the need to address other global challenges

in them. So it worries me on a deeply personal level

into the shadows. Although response to the pandemic still demands our attention, we should also now urgently

countries compared to developed nations. It only serves

turn the spotlight back on the mid- and longer-term, and

to highlight the widening inequality gap and reminds me that so many people in the world are increasingly

solutions to global threats, such as climate change and

being excluded from access to basic needs. When I lived

increasing inequality. It is widely known that the energy transition helps combat climate change, but the risk of

money has the ability to lower the barriers that block the

not accelerating it fast enough also threatens quality of

pathway to individual and national development. It can

life, especially in developing countries. Almost all poor

increase access to food, water, education, and information

nations are within 30 degrees of the equator so they are

and help combat poverty and inequality. It’s the main

not only more vulnerable to the physical effects of climate

reason why I’ve continued to work in the sector one way

change, but if we don’t mitigate climate risks, the access

or another my entire career.

Money needs to be used in the right way, supporting the

In terms of creating access to energy, we are at a crucial

right industries in the right places. I believe we urgently

point in time where some of the world’s least developed

need to increase access to renewable energy in emerging

countries have an opportunity to leapfrog most of the

markets.

developed ones because they are immediately able to implement renewable energy solutions, and they can produce where they consume. There is no need to build coal-based power stations nor rely on grid infrastructure, although some form of grid is likely to be needed to activity.

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There is no denying the enormity of the challenge, in

developers and like-minded investors. When you choose

fact I would say it’s a triple challenge. Firstly, we must

the right operators, and you structure it in the right way,

implement within the barriers of our CO2 budget as a

then actual default rates are in a totally different league to

global population. Secondly, we must achieve better levels

where the corporate debt is in those countries. For Triodos

of development, and thirdly, most developing countries

Investment Management renewable energy has been one of the most resilient investment categories in the COVID

energy transition themselves but they do have policies to

crisis – our Groenfonds has not only achieved relatively

attract foreign direct investment, which means renewable

decent impact risk-adjusted returns, it also has a strong

energy investments in emerging markets can tick all

pipeline of projects.

three boxes.

Investing in renewable energy in emerging markets has a The good news is that climate action and climate

multifaceted ability to not only tackle climate change, but

investments have gained a lot of attention in recent years. Phenix Capital Group, authors of the 2021 Impact

types of activities and jobs. Now is the time to shift focus

Fund Universe Report, state that renewable energy and

away from short-term responses to COVID and turn the

climate action represent roughly one third of all impact

light on the opportunity and stability that can be created

investments, and 40% of new commitments in 2020. But

by investing in renewable energy and other SDG solutions

just looking at these numbers hides the fact that most

in emerging markets. I urgently call on like-minded

investors still shy away from emerging markets. During

investors to explore the opportunities.

markets and into the dollar, and that is what happened

Jacco Minnaar is Chair of the Management Board at

with COVID-19. Unfortunately, this behaviour tends to

Triodos Investment Management.

be driven by investor perception of high-level risks in those countries. But it is just that, a perception. Like any investment there are risks involved, but in this case, they are lower than the investors perceive. It’s true that emerging markets stock-listed equity and bonds can be quite volatile, and on the bond side there can be relatively high defaults. But based on our track record and that of for senior debt to energy projects. Investors need to have teams with deep sector and country knowledge to understand the risks and know that it can create good

with markets. Renewable energy assets tend to be stable in a crisis. They continue to produce electricity, which continues to be consumed and most countries have preferential grid access. It’s a very interesting impact-riskand understand the countries to be successful. In my experience it also helps to have partnerships with trusted

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INTERVIEW WITH GERARDO GARCIA, CEO & CHAIRMAN OF BARENTS RE CAN YOU GIVE US AN INTRODUCTION TO BARENTS RE?

CAN YOU TELL US ABOUT YOUR INTERNATIONAL DEVELOPMENT?

We established Barents Re in 1996 and over the past 25

I am especially proud of our expansion strategy with its

years we have built a reputation as a trusted international

focus on specialty lines of business which has been key

specialty and niche reinsurance partner that has delivered

to our progress. We are very clear that we only establish a presence where we believe there are opportunities to work with like-minded clients. From our Cayman Islands

entrepreneurial culture, coupled with an experienced

throughout Europe, such as London, Luxembourg, Madrid,

management team, allows us to identify and respond

Milan, Moscow plus Latin America and the Middle East.

quickly to opportunities. The expertise of our specialty underwriting teams and their knowledge of our markets,

On a geographic basis, Barents Re’s activity is focused

products and clients enables us to offer innovative

on both mature and emerging markets. This is part of

solutions. We offer bespoke products and services

our DNA. The growth in insurance premiums in many

individually tailored to our clients’ needs.

countries is fueled by economic fundamentals, favorable demographics and the introduction or enforcement

On the subject of clients, they include global, regional

of compulsory insurance are most encouraging. While insurance penetration is still low in many countries, it’s

public entities and global corporations. They value the expertise and consistency of our underwriting teams

coming years.

and knowledge of their business and our ability to offer innovative solutions.

WHAT ARE YOUR KEY LINES OF BUSINESS? We are focused on being a niche player that offers

Furthermore, our reputation means we attract top quality

specialist and tailor-made solutions to our clients. We

personnel f rom around the world. Our people are the core

do not participate in every type of business because

of our business; it is their knowledge and experience that

underwriting discipline is fundamental to our success. On

allows us to make the right decisions for our clients and

the commercial side, we are especially strong in Surety

for our business. Of course, we manage and have access

Bonds, Energy, Construction & Engineering, Property,

to a wealth of data and tools that assist us in our decision-

Financial Lines, Marine Cargo, Life and Accident & health.

making processes. But it is the ability to accurately

We also have a growing presence in the Consumer arena

interpret such data that separates one reinsurer from another. It is precisely for this reason that we employ recognised experts.

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HIGHLIGHT THE ROLE OF INNOVATION AT BARENTS RE? terms of the design and proving of insurance products.

This is only the beginning for Barents Re. Innovation is integrated into our processes and is fundamental to our business model and an integrated part of our clients’ experience. At Barents Re, innovation is as much a mentality as a process or procedure.

WHAT ARE YOUR PLANS FOR THE FUTURE? We seek to create value for our shareholders and our business partners by investing in our business to:

•

• Create new customer segments

•

• Expand geographically

•

• Innovate tailor-made products

As I have mentioned, we only do business in countries where we feel comfortable, and where we have a nicheon market share.

A direct consequence of our analytical and disciplined approach is our ability to provide substantial capacity for

(Excellent) rating for our Luxembourg subsidiary, Barents Reinsurance S.A. We are delighted with these ratings as we feel they are a validation of our efforts to make our business the success it is today.

Overall, we are working to reinforce, develop and enhance so that we continue to be the trusted partner to our clients.

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AN INTERVIEW WITH FOREX4YOU’S CEO MARINA STRAUSS 28 April 2021, International Investor Magazine sat down with Marina Strauss, CEO of award-winning online trading platform,

CONGRATULATIONS ON WINNING THE FOREX BROKER

WOULD YOU SAY CONTRIBUTES TO DRIVING THE SUCCESS OF FOREX4YOU? I’m pleased that all the hard work and effort that we have put into the business has been recognized and our strategic expansion into Asia has been worthwhile. This year, Forex4you it shows stability in our operations. With every year older, we grow bigger and better.

Success and hard work go together, but it also relies on the values and direction that every company holds. Forex4you has always been driven by its core values of competency, honesty, transparency, and integrity. We are driven to innovate and to foster long term relationships to achieve international expansion. When we remember the basics, we can extend ourselves and grow the business.

Success also comes from the team and I’m proud to say that we’ve also grown in talent across the years. Today our Forex4you team comes from multiple nationalities from best at what they do.

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A N I NTE RVIEW WITh FOR EX4YOU ’ S CEO MAR I N A ST R AUSS

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WHAT IS FOREX4YOU’S SECRET TO CLIENT GROWTH?

WHAT IS THE KEY TO YOUR SUCCESS WITH THE PARTNERS THROUGH YOUR AFFILIATE PROGRAM? I think the key to any strong and healthy relationship,

and partners. We offer one of the best trading services,

in business or outside it, is when the partnership is

and as a business that functions as a platform, we would be nothing without our clients. Asia is a continent that

very basic but important touchstone that people often

places much value on society. What we’ve realized is that

overlook.

a happy client will foster more clients and this has fueled our success. Till date, we have over 2 million opened client

On a technical level, I would say that there are two main

accounts. I would say our not-so-secret formula for client happiness is our transparency, customer service, and

unmatched commission programs and the second is the

great product development.

positive experience that partners gain when they work with us.

that trust is the major key factor. We have always ensured that our clients’ funds are safe and secure. Deposits and

CAN YOU ELABORATE MORE ON THESE 2 FACTORS?

withdrawals with us are instant, and throughout the years, we have kept our operations transparent with all our

known as our partnership programs. They are specially

clients. We are internationally regulated by BVI and we are

designed to maximize the potential of every partner that

audited successfully each year by kPMG.

we work with. We want partners to be able to choose how they work with us and we give them the freedom

We also have an excellent customer service team that

to do so. In fact, we have created multiple programs to

maintains the happiness of our clients. They function

cater to a vast variety of different needs across the region.

24/7 and can cater to the growing demands of our

Our commission structure is the best in the market, and

international expansion. At present our team can

we work on a very fair and very generous system. The

communicate in 12 languages and we have an extremely

higher the result a partner achieves, the more rewards he receives. Last year alone, we hit a company milestone and paid out over 29 million dollars to our partners.

In our 14 years, we have also developed numerous different features on our platform in order to respond to

The second factor is the unique experience that a partner

feedback. For example, Forex4you has another product

enjoys when he works with us. We go out of our way to

and trademark, Share4you; our excellent copy trade

ensure that our partners are well taken care of, from

service. Another product we developed for Asia was our

luxury gifts to exclusive international getaways, there is

Forex4you mobile app, which allows for a better trading

little more than a partner would want. Our personal key

experience from the palm of your hand.

account managers are extremely accessible, responsive,

AS A TRADING PLATFORM WHAT KEEPS FOREX4YOU COMPETITIVE IN THE ASIAN MARKET?

are any partners that would say that they did not enjoy

We believe that trading should be for everyone, and I

Once a partner is on board, they stay on!

working with us. In every survey we’ve sent out, we’ve gotten 100% when it comes to our partner programs.

think what’s competitive about our company is the effort

ANY TAKE ON THE FUTURE OF FOREX4YOU? There is no minimum deposit for clients to start trading.

The forex landscape is an ever-changing one. Anything

Our cent account also allows trading from 0.01 pips. Our

can move the market at any time, it’s certainly exciting

Forex4you MetaTrader4 (MT4) platform and the usage of

but that means that what works one day, may not work

Expert Advisors were also quite welcomed by the Asian

the next. While we cannot predict the future, we always

market. Another move we made to cater to the Asian

ensure that we keep our eyes and ears open, and we stay

population was to launch our islamic swap f ree accounts.

on our feet. We certainly have many milestones, projects and developments in our roadmap, and we look forward

For expert traders in Asia, we keep our spreads low at 0.1

to releasing them soon. For now, we hope to maintain and

pips and we offer a leverage of up to 1:2000. Our trading

improve our standards and services across the region to

execution time is also impressive at 0.5 seconds. Till date,

keep our clients and partners happy!

I’m happy to say that we’ve executed over 1 billion trades.

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S h AL AkAN Y AWARDED WIT h CO RPO RATE L AW FI R M OF T hE YEAR Sh AR ES I TS h I STORY AN D EXPERTISE

SHALAKANY AWARDED WITH CORPORATE LAW FIRM OF THE YEAR SHARES ITS HISTORY AND EXPERTISE HISTORY Shalakany was founded in 1912 by Abdelfatah El Shalakany, a prominent lawyer who reached the pinnacle of his career when he was elected as the head of the Egyptian Bar Association in 1950. Abdelfatah’s two sons, Ahmed El Shalakany and Aly El Shalakany followed in his footsteps and successfully took over the practice in the 1950s.

After Ahmed El Shalakany’s tragic passing at an early age in the mid-1970s, Aly El Shalakany assumed the sole

strength to strength and was actively involved in most of all leading corporate transactions taking place in the region. At the start of 2006, Aly El Shalakany’s son, Dr. khaled El Shalakany, took over the reins and has legacy until the present day.

OVERVIEW record of success and growth that today makes it the

rise of the role of the private sector in the economy under

in Egypt and the Middle East. With over 70 lawyers, counselors, and paralegals, including 11 partners and a

El Shalakany’s leadership and vision, was able to seize the opportunity by leveraging its expertise and expanding exponentially to become one of the largest corporate law

multinational, regional and premium local clients through

almost all practice areas by the internationally recognised legal ranking organisations.

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MISSION AND CULTURE

CORPORATE AND TRANSACTIONAL EXPERTISE

Through the experience, expertise and dedication of its lawyers and staff, the Firm provides bespoke top quality

and acquisitions in Egypt and the region. Through a

legal services for its clients. Each client receives the

partner-led service, the Firm supports its clients by

personal attention of a partner who, as the designated

structuring and implementing tailor made, pragmatic

client manager, is responsible for ensuring that all work

and innovative solutions to cater to their circumstances

for the client is handled in a professional and timely

and needs.

manner by the specialized experts within the Firm.

Mergers and Acquisitions - The Firm has acted on many The success of the Firm’s clients is a measure of the Firm’s own success. We strive to understand their business

taken place over the past few decades. We represent

objectives. The Firm’s aim is for clients to consider the

both buy side and sell side clients, whether strategic or

Firm as their trusted counsel and an extension of their values, which are:

Capital Markets - Over the years, we have represented

Commitment to our Clients – Understanding the clients’ needs and providing practical and expedient solutions

transactions and IPOs. Shalakany has acted as legal

through a partner-led service.

counsel for both the underwriters and the issuers on a number of transactions across various different sectors.

Commitment to our staff – Providing a dedicated

Recently, the Firm has also undertaken a number of

platform to support our lawyers and staff to realize their full potential through extensive training and development programs. institutions and corporations, representing both lenders Commitment to our community

and borrowers in matters involving international and local

being a part of a community requires active contribution to its welfare, wellbeing, and sustainability. letters of credit, letters of guarantee, mortgages, pledges, and other types of security.

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Project Development and Finance - Shalakany is a leading (PPP) projects and similar projects in Egypt, having acted the past few decades and gaining considerable experience in the infrastructure, electricity, renewable-energy, roads, transportation, aviation, oil and gas, water, and petrochemicals sectors.

DISPUTE RESOLUTION AND LITIGATION EXPERTISE Shalakany has acted on almost all major arbitration and litigation cases in Egypt over the past few decades, in several sectors, including construction, oil & gas, power, infrastructure, aviation, insurance, employment and tax disputes.

in Egypt to develop specialized expertise in commercial arbitration. Since the early 1970s, the Firm has been involved in many of the major arbitration cases in Egypt, which include the Pyramids Plateau arbitrations, the Cairo Metro arbitrations, the Ahmad hamdy Suez Canal Tunnel arbitration, and the Isna Barrage arbitration.

The Firm handles, on average, about ten new arbitration cases annually. For this purpose, the Firm has established a specialized Arbitration Group. Apart from arbitration procedures and advocacy and other skills required, members of the Arbitration Group, following the introduction of the Egyptian Arbitration Law No. 27 of 1994, have also, through the Group’s specialized arbitration practice, become leading experts in the negotiation of settlement agreements as well as enforcement procedures through attachments, injunctions, and all other court procedures related to arbitration, including resisting nullity challenges.

LEX MUNDI MEMBERSHIP Egypt of Lex Mundi – the world’s leading network of countries worldwide. As part of the Lex Mundi global network, we can provide our clients with preferred access to more than 21,000 lawyers around the world – all from a single point of contact. Individually, each Lex Mundi

unmatched depth and breadth. Working with other Lex challenging cross-border transactions and disputes.

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INTRODUCING THE PRAETORS: DIFFERENT

BY DESIGN, DISRUPTIVE

BY CHOICE. Multi-asset Executive Jets has the vision to deliver the ultimate experience in business aviation. Nestled on Florida’s Space Coast, where rockets and space shuttles have soared into the sky for decades, the company embodies a dynamic spirit of innovation.

Embraer’s newest family of aircraft, the Praetor 500 and Praetor 600, are the world’s most disruptive and technologically advanced business jets in their categories, bringing technology, comfort and performance to an entirely new level. The word itself—Praetor—comes from the

challenging the convention of what a midsize and super-midsize jet can do.

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PRAETOR 500

PRAETOR 600

A midsized business jet, the Praetor 500 is the fastest in

In the super-midsized category, the Praetor 600 is a cut

its class to help save time and reach more destinations

above the rest. This revolutionary aircraft anticipates

in the utmost comfort. Designed for innovators that dare

the future by disrupting the conventional notion of

to dream and push conventional limits, the Praetor 500

what a super-midsize business jet can do. The Praetor

is a true corner-to-corner aircraft, able to quickly span

600 delivers exacting value through forward-thinking

the continent of North America with a nonstop range

offerings, giving best-in-class range and cabin altitude for

at long-range cruise speed of 3,340 nm (6,186 km). With

enhanced comfort. The aircraft delivers a nonstop range

an impressive reach and maximum endurance of nearly

of 4,018 nm (7,441 km) at a long-range cruise speed so you

eight hours, it is the only aircraft in its class – the fastest, too – that can reach Europe from the U.S. west coast in

New York, São Paulo to Miami, or Dubai to London. In fact,

one stop. From New York to Los Angeles, San Francisco

this is the only super-midsize jet that consistently delivers

to Gander, or Singapore to Beijing, the aircraft saves time and allows passengers to seize the day with more freedom.

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RELIABLE TECHNOLOGY Revolutionary, industry-leading technology combined

controls reduce workload and provide a safer, smoother capability. Also, for the pilot, the high-tech Rockwell technology with ergonomics and provides an instinctive interface to minimize workload and pilot fatigue. All of these technologies combined ensure a safer, more reliable trip for everyone on board.

In addition to enhanced safety measures, replacement wire make the aircraft much lighter and allows easier allows the aircraft to have low takeoff and landing speeds, requiring less runway to operate and granting access to smaller airports.

In both Praetor aircraft, home-like Wi-Fi connectivity ensures a strong and reliable connection, so you never have to miss a beat. Embraer equips the aircraft with the very best in connectivity and includes the honeywell Ovation Select Cabin Management Suite, which provides full 1080P hD video streaming and immersive audio.

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INTRO DUC ING T h E PRAE TO RS: DI F FER EN T BY DESI GN , DI SR UPT IVE BY ChOI CE .

CLEAN CABIN ENVIRONMENT

EMBRAER’S INTERIOR DNA

Last year, in response to the pandemic, Embraer

While the range and size of the cabin differ between

announced a series of breakthrough cabin enhancements:

the Praetor 500 and Praetor 600, the carefully designed interiors possess similar qualities due to Embraer’s interior DNA, which focuses on comfort and style. Both aircraft

electric lavatory pocket door, and approved the use of MicroShield360 and Bacoban.

and can be equipped with optional items including a microwave, conventional oven, refrigerator, coffee brewer,

As new-generation aircraft, the Praetor 500 and Praetor

and elegant crystal china and silverware. With the Praetor

600 were designed with the latest technologies, including

500, some of these features are optional. The Praetors

the ability to move 100% fresh air through the cabin. The

display superior craftsmanship and meticulous attention

99.97% of all particles, such as bacteria, viruses, and fungi.

Spacious windows allow natural light to open the feel

Additionally, Embraer has tested and approved the use of

of the cabin, while fully reclining seats provide superior

coating systems that, when applied to aircraft interiors, continuously inhibit the growth of microbes on surfaces.

With either aircraft, you have the ability to select

To further enhance the atmosphere of safety and cleanliness in the cabin, the company developed an

a package of Embraer’s latest interior developments.

electric lavatory pocket door for the Praetors, which comply with the latest cabin safety requirements. This new optional feature, which allows the passenger the

and pick up the sparkle of the gold trim throughout

comfort of opening the lavatory door by just pressing a

the interior, along with inherently large windows to

button, is available for delivery in both new Praetor jets.

draw an abundance of natural light. In an elegant and sophisticated way, the aesthetics of this interior bring a

BEST CABIN ALTITUDE

simplicity to the mind and a relaxation found in no other aircraft.

to save time on arrival, but more importantly, they tout best-in-class cabin altitude to keep passengers feeling

Both the Praetor 500 and Praetor 600 are extraordinary leaders in their respective classes and provide the

(45,000 feet), they will feel as if they are only at 1,767

ultimate experience in business aviation – from advanced

meters (5,800 feet). In addition, both cabins provide an

technologies to carefully designed interiors. Embraer’s

ultra-quiet environment that is ideal for working, relaxing

motto for the aircraft is apparent in each detail: different

or talking amongst one another. Arriving to destinations

by design, disruptive by choice.

feeling exhausted and tired is a thing of the past with the feel sharp and ready to take on the day.

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OMAN LNG IN BRIEF established by a Royal Decree in 1994 operating under the laws of the Sultanate of Oman. The company engages in the and its by-product, natural gas liquids (NGLs). It undertakes project operations and related activities essential to liquefy, store, transport, and market Oman’s natural gas and deliver LNG to customers; aligned with the Government’s objective of diversifying the economy. The company operates three liquefaction trains – two owned by Oman LNG LLC and one by Qalhat LNG SAOC with a nameplate capacity of 10.4 million tonnes per annum (mtpa) – at its plant in Qalhat, South Sharqiyah Governorate.

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PRODUCTION & EXPORTS Oman LNG receives feed gas supplied from the Government LNG, produced from Oman LNG’s three-train plant facility in Sur, is sold to high value markets in Asia and Europe, from which shareholders including the Government of Oman as a major investor, earn substantial returns for the economic and social development of Oman and is a key contributor to the welfare of the Omani citizens.

Oman LNG achieved a production rate of 10.4 million tonnes

impacting delivery and safety. Indeed, the Company has pressed this capacity further as it has embarked on major projects, such as the Plant Rejuvenation Programme, the Power Project and the Debottlenecking Project, all of which are running at full speed and all contributing to increasing LNG has delivered 2,500 cargoes safety and reliably to various destinations around the globe.

OMANISATION Since inception, Oman LNG has taken thorough steps in employing and retaining Omani nationals and providing a challenging working environment for growth and development in the global LNG industry.

The company continues to enjoy outstanding levels of Omanisation empowerment, buoyed by training and development efforts, which have been highlighted through various awards and recognitions received in the local, Oman LNG’s unremitting efforts to develop and retain a highly skilled workforce.

Our commitment towards Omanisation remains intact with an Omanisation rate of 83% and embracing the advancement of women in our company to take senior positions. Oman LNG’s Omanisation unprecedented efforts nine positions are occupied by seasoned Omani nationals.

The culture of fostering aspiration has led to a greatly empowered workforce. As the industry grows, and with it an appetite for fresh talent, we were pleasantly delighted to

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SAFETY OF OPERATIONS Across the global oil and gas industry, a great emphasis has been positioned for safety. The nature of a LNG plant prioritizes people as the most essential element to drive secure and safe operations. Extreme care and due diligence is adhered to, to ensure the risks are mitigated, harm to people and the environment prevented, to ensure our people go home safe, every day.

Safety tops our priorities at Oman LNG, as we continue to break safety milestones, which stood at over 35 million man-hours worked without Lost-Time Injury (LTI). What makes this achievement even more remarkable is that our record has not been broken even as we continue to deliver major operational and civil projects. Moreover, it is clearly evident that our staff and contractors take pride in meeting our high safety standards.

Oman LNG is making strides in tackling a tendency to complacency, through the Behaviour-Based Safety Programme. One of our largest challenges as a company is sustaining the robust safety culture, a task which demands that we stay vigilant to all health, safety and environment matters at all times.

Oman LNG allocates 1.5% of its annual net income after tax to enhance the social welfare of the country through CSR, collaborating with a variety of entities including both public and private sectors, to enhance the quality of living in Oman. Oman LNG has always been accustomed to meet country’s expectations both in good and challenging times. This was clearly demonstrated when it spearheaded the contributions during bad times as such as cyclones and other severe weather conditions.

With the changes in the current external environment impacting the oil and gas industry at large, the resoluteness of the Foundation’s unique CSR model continued its CSR efforts unwaveringly in the Sultanate of Oman.

Going forward, the Foundation will continue to excel in CSR through actively seeking partnerships to further ground the investment arm and expand on building subject matter expertise through its centre of excellence social investment initiatives, the Foundation persists to enhance the social fabric of Oman and aims to touch lives across the nation and beyond.

MAJOR PROJECTS Major Projects continue to support Oman LNG’s mission “To produce, market and deliver LNG safely, reliably and with the Plant Rejuvenation Programme, that helps set Oman LNG up for maximum availability, at fullspeed. In addition, the Power Project has initiated the Engineering, Procurement and Construction (EPC) efforts.

Finally, Oman LNG is growing capacity through the debottlenecking project currently at design stage. Once completed, Oman LNG will add one million tonnes of LNG to our plant. Such initiatives generate value for Oman at

Oman LNG’s continuous contribution towards improving the society and its development through Oman LNG Development Foundation (ODF) is well known. Oman LNG Development Foundation is leading in touching lives, promoting and practicing CSR effectively as well delivered covering every corner in the country in all aspects of life. More than 55,000 job opportunities created directly and indirectly from our CSR programmes. In light of these efforts, ODF was honoured at the with many accolades such by renewed local and international

Petroleum Economist.

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INSIGHTFUL CONVERSATION WITH THE AWARD-WINNER OF BEST MULTI-ASSET BROKER 2021LEOPRIME “Mr. Jaya Kumar the Board Member of LeoPrime Groups also adds that it’s indeed a great pleasure

TELL US ABOUT YOUR CLIENTS & HOW GEOGRAPHICALLY SPREAD ARE THEY?

and honor for having been nominated for a number

Our clients are located all across the globe. We mostly

of awards and also feeling extremely elated for

cover all the Asian, Middle East, and South African

being awarded the ‘Best Multi-asset broker award 2021’. It’s all because of our focus on excellence and

countries.

innovation in every step of our journey that helped

WHAT ARE THE OUTSTANDING STRENGTHS OF YOUR FIRM?

us deliver award-winning solutions to our clients. I

It is our quality services that make us stand a class apart.

wholeheartedly dedicate this award to our valuable clients and the whole LeoPrime team. Thank you

that curates every service carefully keeping in mind the

LeoPrime family. We made it”.

client’s demands. Our unbiased services include- Instant executions, automated withdrawals, and powerful trading platforms that play a major role in providing a hassle-free

First and foremost we would like to thank International

trading experience to our clients.

Investor magazine for acknowledging our win & also for showing interest in featuring LeoPrime in your highly esteemed magazine. And, we also would like to thank our valued clients and the whole LeoPrime team for making this possible. It is only because of them we stand here

BEFORE MOVING ON FURTHER, LET’S TALK PANDEMIC ON YOUR FIRM AS WELL AS YOUR CLIENTS? We never expected that something like COVID-19 would

2020-2021.

take over the whole world. But still, with the help of our resilient technology, we were able to manage all our work

LeoPrime is the next-gen Multi-asset broker that brings you powerful trading services including industry-

Just like everybody else, we were also not able to predict the impact of COVID-19, and we too faced many hurdles.

best prices.

But, with LeoPrime’s innovative technology we were able to overcome the hurdles & smartly help our clients to fully

COULD YOU TELL US ABOUT LEOPRIME & THE RANGE OF SERVICES THE FIRM OFFERS? LeoPrime is a globally recognized Forex and commodities intermediary. Being the next-gen multi-asset broker for years, we bring you powerful trading services that include

access the market and make trades with ease, even from multiple locations. In fact, the number of registrations increased and our business surged, and all of this was that we provided our clients with.

at the best prices. LeoPrime is regulated by FSA and offers Tightest Spreads, Instant Withdrawal & Deposit, Unexpected Leverage, high Volume & Liquidity, and userf riendly trading platforms.

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IT SEEMS THAT YOU HAVE RECENTLY LAUNCHED

Application’ which is doing great among our clients. The app is been meticulously crafted to serve all our client’s needs. Clients can open a trading account in less than a minute, perform funding/transactions instantly using multiple payment gateways we provide, set leverages, smartly manage their personal accounts, and everything is highly secured.

WHY DO YOU THINK YOU WERE CHOSEN AS THE

all assets under one roof. From having one asset per

always stays ahead of the competition because of its client based services. There is always no compromise in the quality of services we provide. We stand a class apart because we provide tightest spread, unexpected leverages, ultra-low latency execution, deep liquidity, multiple account types with minimum deposits, and the best pricing.

PLANNING TO TAKE UP YOUR BUSINESS TO THE NEXT LEVEL? We are actively working towards that. We are already conducting various campaigns, promotions via social media, interesting demo contests & cash back contests business.

Once again our whole LeoPrime team would like to thank International Investor magazine for taking the effort to acknowledge our win & feature us in your reputed magazine.

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leading the charge

for a greener and healthier environment

Sustainable Waste Management | Energy and Water Efficiency Green Social Entrepreneurship | Paper-to-Pencil Initiative

accessbankplc.com/sustainability

INTERNATIONAL INVESTOR AWARDS WINNERS 2021 COVID-19 change the way businesses work, the investment community had to take a step further and reinvent in many ways. In order to recognise the effort behind every individual and company during this time, we selected champions from a wide range of businesses.

The awards are open to any business, large, mid-size or rate service, opportunity, innovation and performance.

The following pages celebrate organisations that drive forward the world of international business and investment.

SHALAKANY

Corporate Law Firm of the Year // MENA 2021 With a century of experience since its establishment quality services across a broad spectrum of practice, including anti-dumping and trade disputes, antitrust and competition, arbitration, aviation, banking and East. With over 70 lawyers, counselors and paralegals, including 11 partners and a support staff of over 80

commercial, agency and distribution, intellectual property, insurance, labour and employment, litigation,

quality legal services to a broad base of multinational,

manufacturing, mergers and acquisitions, oil and gas,

regional and premium local clients.

privatization, projects and construction, real estate, tax, telecommunications and information technology, and tourism, hotels, travel and services.

across almost all practice areas by the internationally recognised legal ranking organisations.

I NTER N AT I ON AL INVESTOR

ACCESS BANK

AL HAMRAA INSURANCE COMPANY

BARENTS RE

Sustainable Bank of the Year // Africa

Best Insurance Company // Iraq 2021

Most Trusted Reinsurance Company

2021

// Global 2021

Access Bank Plc. is a leading full-service

which started operating in 2001 providing

Barents Re is a leading independent

commercial Bank operating through a

advice and professional assistance to

reinsurance group domiciled in the

network of more than 600 branches and

clients to protect their property, assets,

Cayman Islands. Established in 1996,

service outlets, spanning three continents,

employees, earnings, and liabilities on a

Barents Re has a well-established

14 countries and over 36 million

cost-effective basis.

presence in Europe, Latin America and

customers. The Bank employs 25,000

the Middle East. This translates into more

people in its operations in Nigeria and has

hamraa Insurance Company has been a

subsidiaries in Sub-Saharan Africa and the

challenging player among Iraqi insurance

than 650 reinsurance connections in 75

United kingdom (with a branch in Dubai, Lebanon and India.

Listed on the Nigerian Stock Exchange

sector in general. hamraa Insurance has

The company provides a wide range of

provided professional consultancy and

niche and specialty reinsurance products

advice to both corporates and individuals

to property and casualty insurers. Our

for the past years to protect their assets,

vision is for Barents Re to become an

property, liability, and earnings. While

integral part of the insurance value chain.

doing all the latter, the company has

The expertise of our specialty underwriting teams and their knowledge of our

a strong retail customer franchise and

markets and products enables us to offer

digital platform with deep corporate banking expertise and proven risk

the highest customer base from both

management and capital management

corporates and individuals.

capabilities. The Bank serves its various markets through four business segments:

innovative solutions to our clients.

Barents Re does not participate in every

Website: www.alhamraains.com

type of business because underwriting

Retail, Business, Commercial and

discipline is fundamental to its success.

Corporate. The Bank has over 900,000

On the commercial side, Barents Re

shareholders (including several Nigerian

is especially strong in Bonds, Energy,

and International Institutional Investors)

Financial Lines, Construction &

and has enjoyed what is arguably Africa’s

Engineering, Property, Marine Cargo, Life

most successful banking growth trajectory

and Accident & health. Barents Re is also a

in the last twelve years. Following its

growing presence in the Consumer arena

merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.

As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is and socially relevant, helping customers to access more and achieve their dreams.

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programs. The Barents Re portfolio is

BVI FINANCE

CROWNS AGENTS BANK

DUNN LOREN MERRIFIELD GROUP

regulated, wholesale provider of foreign exchange, international payments, cash BVI Finance is the voice of the British industry; marketing and promoting its products and services, as well as

management, cross-border pensions and emerging markets. The bank also operates in OECD countries and the developing

to economic development projects.

Since inception, we have concentrated on creating markets, products and long

managing and maintaining its excellent centre. Established in 2002 as the BVI International Finance Centre, the company was re-branded to BVI Finance in 2015. The BVI has established itself as the leading only due to its best-in-class innovative regulatory regime and business-f riendly environment, but also through BVI Finance’s presence at conferences and trade events in our core and emerging markets, and support in maintaining a strong relationship with key stakeholders both locally and internationally. To retain the jurisdiction’s competitiveness, BVI Finance partners with local and

experience spans almost two centuries.

This long history of commitment

Our developmental focus and history lies in the genes of our founding principal, during his career at the International

extensive network of global partners, strong international relationships,

to create its domestic sovereign bond

scalable services to facilitate trade and

market. This was further strengthened

commerce between its focus markets.

when he designed and successfully closed

It provides a key link to moving money where it’s needed, for governments, payment companies, pension schemes,

securitization transaction for the Federal

development organisations.

international practitioners, media outlets and investors in emerging and traditional markets.

commitment to opening and maintaining safer cross border trade corridors with

the following developmental feats:

frontier and emerging countries with a

• Set-up of Lagos-Homs, mandated

by Lagos State Government

inclusion in the process. The work we do

• Set-up Nigeria Mortgage

has an impact felt by people everywhere.

We help local banks engage on the world stage and support emerging economies inclusion.

mandated by the Federal Government of Nigeria • Mortgage Warehouse Funding by the Federal Government of Nigeria and the Mortgage Bankers

https://dlm.group/

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In TER nAT I On AL I nvESTOR

FOREX4YOU

FUNDCALIBRE

GCM YATIRIM

Forex4you was born out of our vision to

FundCalibre is an independent online

you in the trading world.

create accessible and transparent trading

fund ratings agency, whose research is

for traders globally. Launched in 2007 by

f reely available to all investors. Established

E-Global Trade & Finance Group, Inc.

in 2014, 66% of its board and 20% of its

markets, investors try various means to

Forex4you is an online trading platform for

research team is female.

achieve effective returns in a relatively short period of time. FX trading grows

the trading of more than 150 instruments using e-payment systems. Following

With more than 3,500 funds and

by more than 500% per year, due to

that, with the advent of social trading,

investment trusts available in the UK,

the exciting opportunities it offers to investors, and its accessibility. This huge

Share4you was launched in 2013. daunting task. That’s where FundCalibre

growth led to a period of development

Share4you is a copy trading service

comes in. The research team analyses

bereft of any controls and supervision.

designed to democratise trading

funds and trusts that are widely available

However recently, CMB, authorized by the legislative, introduced substantial

knowledge and performance. It enables users to copy the trades of experienced

it believes have the most skilful managers.

regulations, which have yet to be put into force in many foreign countries. This

traders and learn f rom their trading strategies. For over a decade, we have

Using a proprietary screening tool, the

provided Forex markets a respectable

grown f rom strength to strength. We have

team is able to separate performance

place and standing in Turkey.

empowered more than 2 million trading

achieved by market movements from the

accounts worldwide. To better serve our

value added by the manager and assess

Regardless of the level of the trader, we

international clients and partners, our 24/7

how consistent and repeatable their skill

offer a suitable trading platform, Android

customer service team is multilingual and

could be. Funds passing each stage of the

and iPhone applications to make your

stands ready to help.

analysis are awarded an Elite Rating.

account accessible on anywhere on the

To learn more about us, visit www.

Most importantly, investors can browse

forex4you.com

FundCalibre with the comfort of knowing

globe, a web based trading platform trading platform package accessible with

that every manger has been interviewed, every fund has undergone a rigorous

to access their accounts and trade freely

research process, and there is no pay to

through the application of their choice.

play: FundCalibre is truly independent and its rating are award on skill alone.

Our client’s satisfaction lie at the heart of our world, and it makes us race against

Web link: www.fundcalibre.com

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ourselves in this most important quest.

INGOT BROKERS

ISP

Most Trusted Forex Broker // Europe

Best European Fund Launch // Global

2021, Most Trusted Forex Broker Asia

2021

Best Citizenship By Investment Agency // Saint Lucia 2021

2021, Best Online Trading Support // Middle East 2021 Established in 2006, INGOT Brokers is offers investors worldwide premium trading opportunities across a variety of stocks, commodities, indices, ETFs and cryptocurrencies.

trading process by providing investors with quick account setup; facilitated trading conditions; easy withdrawals and deposits; multilingual customer support; designated account managers; comprehensive educational materials; and user-f riendly trading platforms.

INGOT Brokers is regulated by the Australian Securities and Investments Commission (ASIC) and Saint Vincent and the Grenadines Financial Services Authority (SVGFSA), thus guaranteeing clients’ peace of mind knowing that their deposits are safe and secure at all times.

MCNAMARA CITIZENSHIP SERVICES INC

services boutique founded in 1993

McNamara Citizenship Services Inc.

that services corporates, banks and

(MCSI) is an approved Authorized Agent (AA) under the Citizenship By

investors through a unique blend of latest

Investment Program of St. Lucia. MCSI

technology, high-touch service and the

offers a full service advisory Agency

deep expertise of our interdisciplinary

providing all the services associated

teams.

with acquiring citizenship, and we aim to use our intimate knowledge of the

ISP Group AG specializes in Structured

St. Lucia program to guide potential

Credit, Fixed Income and Structured

client’s through the process of obtaining

Products and offers Paying Agent,

citizenship to ensure the highest success

Placement Agent, Custody and Wealth &

rate with clients applications.

Asset Management Services. We operate as a licensed securities dealer under the

MCSI is a subsidiary of the law Firm of

regulations of the Swiss Financial Market

McNamara & Co. which is the largest

Supervisory Authority (FINMA), the Israeli

Law Firm on the Island of St. Lucia and

Securities Authority (ISA) and the hong

the team at MCSI possesses a wealth of

kong Securities and Futures Commission

experience making it one of the island’s

(SFC).

ISP Group is located in Switzerland, Israel, Liechtenstein and hong kong and has

MCSI is a family based operation that

full access to European, American, Asian

continues to pride itself and build upon

and Israeli institutional markets. Further

the core traditional values of McNamara

information about ISP Group AG can be

and Co. which are rooted in excellence

found at ispgroup.com

and professional conduct with a rock solid service provider.

Please visit our website on: www.mcnamaracitizenshipservices.com

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