Sheikha Bodour Al Qasimi is the first Arab woman to be appointed president of International Publishers Association. Supplied
Sheikha Bodour Al Qasimi is the first Arab woman to be appointed president of International Publishers Association. Supplied
Sheikha Bodour Al Qasimi is the first Arab woman to be appointed president of International Publishers Association. Supplied
Sheikha Bodour Al Qasimi is the first Arab woman to be appointed president of International Publishers Association. Supplied

Sheikha Bodour Al Qasimi becomes first Arab woman appointed president of the International Publishers Association


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Sheikha Bodour Al Qasimi has been appointed president of the International Publishers Association, becoming the first woman from the Arab world to be given the title since the organisation launched in 1896.

She has been serving as IPA's vice president since 2018.

When Sheikha Bodour officially assumes the role in January, she will be the second woman to occupy the position, following Argentina's Ana Maria Cabanellas, who served as vice president and president from 2004 to 2008.

The announcement was made on Sunday, November 21, at the IPA General Assembly Congress, which was held via Zoom.

Sheikha Bodour has long championed the region's publishing industry, promoting and developing its presence in the UAE, across the GCC and in the wider Arab region.

Sheikha Bodour Al Qasimi is currently vice president of the IPA and founder of Emirates Publishers Association. Delores Johnson / The National
Sheikha Bodour Al Qasimi is currently vice president of the IPA and founder of Emirates Publishers Association. Delores Johnson / The National

She is the founder of Kalimat Group, the UAE's first publishing house solely for publishing Arabic children's books, founder of the Emirates Publishers Association, and founder of The UAE Board on Books for Young People.

Sheikha Bodour also headed the Advisory Committee that steered Sharjah's tenure as the Unesco World Book Capital 2019.

The IPA is made up of 83 organisations from 69 countries and represents thousands of publishers around the world. It was set up to protect the interests of the publishing industry.

While she has is yet to make a statement on her new appointment, Sheikha Bodour told The National when she was elected vice president in 2018 that it was "a proud moment for our nation's history".

She described the role, which she was again the first Arab woman to hold, as "a recognition of the great efforts put forth by the UAE and Sharjah to intensify our cultural presence on the world stage".

Most recently, Sheikha Bodour has spearheaded an initiative to restore several libraries damaged by August's devastating explosion in Beirut port. As head of Sharjah World Book Capital Office, she was also involved in creating an emergency relief fund to support publishers affected by the blast.

“Supporting the Arab world’s publishing sector is one of our top priorities at SWBCO and a pillar on which the celebrations of the title began on," Sheikha Bodour said at the time.

"Publishers are the core of the book industry, and providing support will reflect positively on the cultural movement and help attract more investment into the cultural sector locally and internationally."

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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