Fatma Al Khoori. Reem Mohammed / The National
Fatma Al Khoori. Reem Mohammed / The National

My UAE: Entrepreneur Fatma Al Khoori’s talent unwrapped



Fatma Al Khoori, 30, worked for Dubai’s Executive Affairs Authority for seven years before deciding to change her life around.

The Emirati entrepreneur handed in her notice and spent the next 12 months taking various courses to help her establish where her passion lay. “That year was about self-development, an internal journey,” Al Khoori says.

Over this year, she set up a food website with friends to bring together Emirati chefs and food enthusiasts. As a starting point, Barzeh featured more than 50 local dishes that were prepared and photographed professionally.

But her biggest project was Maska, a gift-wrapping shop in Jumeirah’s Town Centre. It is inspired by the Japanese art of furoshiki, wrapping with fabric. “Gift wrapping is a big industry, but it’s really underserved here. All celebrations are big and the wrapping is just as important as the gift – it makes all the difference.”

Al Khoori sources material from places such as India, Paris and Milan, but uses local designers when she can. She has a style to suit every taste with selections of lace, silk and trinkets.

“It’s inspired by furoshiki but we've added our own twist. The fabrics and the trinkets are all high end and I suppose you could say more Arabic.”

Last year Maska piloted a programme offering women from poorer families a chance to earn money for their children’s education by sizing and hemming the fabric from home. The Sewing Machine Initiative worked with low-income Pakistani families and was such a success Al Khoori wants to start it up on a long-term basis.

“It worked really well. Some women couldn’t leave their houses and work for cultural reasons, so we took the work to them. I love my job because I can be passionate about it and get excited about what I do.”

What is your favourite book?

The Fountainhead by Ayn Rand. I love all Ayn Rand books but this is my favourite. It's very intense, it helped me explore myself when I was trying to figure out what I wanted to do.

What is the strangest gift-wrapping request you’ve received?

A gift basket for a puppy. It had a bone and food and she wanted it wrapped. I’m not sure the dog would notice the wrapping, though.

Where do you find inspiration?

I enjoy going to art galleries but I get inspiration from everything and everywhere. A lot of my friends are designers and I like to look at their own work for inspiration.

What is your favourite type of fabric?

I love Jacquard fabric where the pattern is threaded into the fabric rather than printed on. And I like symmetrical patterns because I think you can do a lot with it.

Where should people buy fabrics in the UAE?

The Kuwaiti Souq in Deira has a lot if you want affordable fabrics. And definitely Meena bazaar in Dubai; they have the most beautiful Indian fabrics.

What’s the best place you’ve travelled to?

Tokyo was amazing. The architecture is beautiful. My brother has a lot of Japanese friends so we were shown the ins and out of Tokyo.

Do you have any hobbies?

I read a lot and I go to the beach at the Dubai Ladies Club. I also do art classes from time to time and I used to go to Tashkeel a lot, they do lots of different classes there.

Who inspires you?

When it comes to entrepreneurship, it’s my father, who passed away last year. He did a lot in his life, he had all these crazy ideas. The last thing was a plastic recycling plant. He loved the idea of making money out of dirt. He always followed through on things even when people didn’t believe in him.

Where would you like to be in five years?

In terms of Maska, we want to build a brand. If I think about 10 years down the road, I definitely want Maska to go international. I’d love to see it in London and New York.

What item can’t you leave the house without?

My iPhone 5S because I’m always working. I need to be connected, I feel lost without my phone.

Where do you go to drink coffee?

My very close friend always takes me to Shakespeare and Co in Jumeirah. It’s very cozy. If it’s me by myself, I spend a lot of time in Bateel Cafe in Town Centre because it’s very close to Maska.

munderwood@thenational.ae

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Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

UAE currency: the story behind the money in your pockets
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360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
Size: 21 employees
Funding: $7 million 
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin

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