Key issues facing my organization over the next five years

Amwal was formed in 1998 as a financial readying firm for the women of Qatar under the patronage of HE Shiekha Mozah, the wife of the Emir of Qatar. As a result of Amwals success and reputation it was transformed into a fully licensed investment funds bound in 2005.Amwal, deal most of the investment banks and asset management firms in the region, has benefitted from the unprecedented economic harvest-feast, high oil prices, and oerindulgence wealth. The GCC countries ar expected to grow over seven percent in the near five years. Qatar is iodine of the top GCC countries in economic performance. As such, Qatars economy is expected to grow 13% in 2008 as a result of sustained oil prices and the countrys ambitious gas industrialization initiatives.Following Russia and Iran, Qatar has the worlds third largest gas reserves. In terms of energy, these reserves are expected to subsist for more than 200 years. This growth is non temporary in nature and is expected to continue over t he long run. During former U.S. Federal Reserve Chairman Alan Greenspans recent visit o Jeddah, he was quoted saying that the oil boom would go on forever.All of these factors permit resulted in a mushroom effect on the growth of different kinds of financial institutions in the region. Existing banks are expanding rapidly, new banks are being set up, and many international players from US, Europe, and Asia are setting up shop in this region. In the last two years nearly 280 financial intuitions have surfaced in Qatar and the United Arab Emirates (UAE).In the current grocery scenario, I believe that Amwal will face the following challenged as it strives to become a world secernate investment bankCarving its own personal identity and differentiating from its regional peersAmwal has a very strong shareowner base that includes prominent topical anaesthetic anaesthetic and regional organizations. For this reason Amwals identity sometimes is overshadowed by tie with one of its sh areholders in the multiple transactions that Amwal actually facilitates. As a new investment bank Amwal leveraged its shareholder base to its benefit. However as we grow it is imperative that we carve out our own identity that will build a strong brand recognition in the region. This is important because it will servicing Amwal to differentiate itself from its regional competitors, who often operate on similar grounds and similar strengths. This will occur over the mid to long range period as Amwal builds on successful deals, takes steps to add social responsibility, and invests in its employee resources.Competing with global names such as Deutsche Bank, Morgan Stanley and Goldman SachsDue to economic growth and initiatives to develop the detonating device markets, GCC countries have been successful in attracting global names such as Deutsche Bank, Goldman Sachs, Morgan Stanley, Barclays etc. This presents a unparalleled challenge for a local bank manage Amwal to remain compet itive due to its relative rawness as compared to the multinational investment banks. GCC countries have embarked on a major capital expenditure initiative, underdeveloped their infrastructure and other major projects. Qatar alone will spend over $100 billion(U.S.) over the next five years. This will help to position Amwal as a local expert with global capabilities.Hiring and retaining happen upon staffDue to the spur in new market entrants, banks are competing for the best human resources and often find themselves victimize of a healthy bench-strength. This has been mainly due to the high turnover, shortage of seasoned professionals, and a general pick to employ western educated professionals with regional experience. This problem is more prevalent for local banks with limited resources.These local banks are rely heavily on key staff such as the ranking(prenominal) manages of investment banking and asset management. Amwal is not immune to this problem and has recently develop ed a policy of retaining good employees and encouraging its staff to develop further expertise by sending them for training and allowing time off from work out for academic studies. Amwal will face a key challenge of retaining staff and hiring more professionals due to component beyond its control including regional factors such as increased competition and the higher cost of living.Need for a better corporate governanceAnother challenge is creating the right balance of power and accountability between the board of directors, senior management, shareholders, and internal operating departments. Amwal has grown tremendously over the last few years and is now preparedness for its own Initial Public Offering (IPO) early next year to support its current growth and future goals. During the initial years of operation, Amwals management style was very centralized with authorities and powers limited to a few key individuals. While this is very common among most local and regional instit utions like Amwal, this structure usually leads to a financial and strategical gap upon the exit of these key individuals.Amwal has come a long way since its transformation into an investment bank and have developed phone line policy principles, guidelines, internal and external regulations and monitoring mechanisms. However, as we continue to grow, expand our global reach, and prepare for the IPO, I believe these measures would neediness to be constantly reviewed and enhanced as they are critical for conducting proper corporate accountability and enhancing business prosperity. Another prevailing impediment is the lack of proactiveness of the local governing bodies that need to substantially enhance the regulative framework, develop stricter industry guidelines, and encourage transparency. As an industry leader, Amwal is in a unique position to have a positive effect on the creation of the regulatory industry in the region.ConclusionThese observations are not only unique to Amwa l. Since we are in a constantly changing environment it is critical that local and regional institutions identify these challenges and develop a strategic plan to respond to them. I believe that Amwal is wellhead placed and uniquely positioned for this challenge with its sound business model and comprehensive long range strategic plan.