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Adam Malouf FAICD

Profile picture of Adam Malouf FAICD

Adam Malouf FAICD

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Name

Adam Malouf FAICD

Your Country

United Arab Emirates

Company

Government of Dubai Knowledge Fund

Position

Chief Investment Officer

Gender

Male

Core Industries

Banking, Capital Markets, Education, Family Office, Financial Regulated, Fund Management, Healthcare, Private Equity, Real Estate, Technology

Experience

Adam is an accomplished C-suite senior executive (CIO, COO and CFO) and non-executive director, who has lived and worked in the MENA region for 18 years. He has worked in different settings: multinationals, family offices and government. Adam has also been a non-executive director and board chairman for over 20 years, sitting on several operational and advisory boards in areas such as: trade and investment, financial services, funds management, family/private investment offices, property, education, healthcare, and medical research and endowments. He has also been a chair and member of board sub-committees, including: executive committee, audit, finance, risk, strategic technology, projects, assets and liabilities (treasury), compliance, governance, operations, investments, remuneration and nominations.

Board positions:

Board member for a fintech company in the Abu Dhabi Global Market (backed by the Abu Dhabi government and two major global banks);
Board member for a key subsidiary of a major family company in Dubai;
Advisory board member for an international university in the UAE;
Board sub-committee member for the Royal College of Physicians in Australia; and
Chair, Middle East Advisory Board, Australian Institute of Company Directors.

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NEDs and Economic Substance (“ESR”)

Pursuant to ESR, certain companies deploying a “relevant activity” have to demonstrate that they have effective substance in their jurisdiction by satisfying a so-called “economic substance test”. ESR is in force in the UAE since 30th April 2019.

A company meets the test if it is directed and managed in the UAE and has adequate people, premises and expenditure in the country.

In this context, the composition and competence of the board of directors – composed of both executive director(s) and NED/s –, and the proper recording of minutes of all board meetings are key factors when assessing whether a company is compliant or not.

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