Biography of Arif Naqvi of Abraaj Group, Achievements, Scandals, Facts in Urdu & English Languages
Arif Naqvi is in the spot light now a days after the report published in financial times. Billioniare Arif Naqvi was the face of Pakistani businessmen but now a days he is in trouble waters along with Imran Khan. In this post of studysolutions.pk we are going to publish the biography of Arif Naqvi both in Urdu and English languages. Lets start reading the details in English first;
Arif Naqvi is the founder and group CEO of Abraaj Group a leading private equity firm focused on emerging markets. Before launching Abraaj Naqvi he was a Managing Director at Citigroup. He has also served on the boards of various companies including Emirates NBD and Emirates. Naqvi has been instrumental in the growth of the Abraaj Group which has raised over $14 billion and invested in more than 200 companies worldwide.
Biography of Arif Naqvi
Born in Pakistan Naqvi moved to the United Arab Emirates in the early 1980s to attend university. He later founded Abraaj Group in 2002 which has since become one of the most successful private equity firms in the world.
Headquarter of his company was in Dubai. There were more than 25 offices of Abraaj group all over the world with about 400 employees. Arif Naqvi was the first Pakistani who entered in the Western private equity finance. This group has also bought K-Electric. His company defaulted as suddenly important investors withdraw their capital form Abraaj group without any notice.
Under Naqvi’s leadership Abraaj Group has made several high-profile investments including those in companies such as Jumia Africa’s largest online retailer and Careem a leading ride-hailing service in the Middle East.
Naqvi believes in the power of private equity to transform lives and communities and he has been an advocate for emerging market industries. He was also named one of the 100 most influential people in finance by Bloomberg Markets.
Facts About Arif Naqvi
Arif Naqvi is the founder and group CEO of The Abraaj Group a leading global private equity firm focused on investing in middle market growth investment in Africa, Asia, Latin America, the Middle East and Turkey. With more than 26 years of private equity and investment experience Arif has played an important role in the progress of Abraaj Group which has now grown into a leading investment firm with a proven track record in creating value for its investors and portfolio companies.
Arif is a board member of several companies including Emaar Properties, Coca-Cola Bottlers Egypt and Jumeirah Group. He also serves on the boards of several leading educational and cultural institutions including Aga Khan University and Aga Khan Museum.
Awards Won By Arif Naqvi
Arif has received several prestigious awards including the 2013 MENA Private Equity Association “Lifetime Achievement Award” the 2014 World Economic Forum’s “Global Private Equity Leader” and the “African Investor CEO of the Year Award” In 2015 he was inducted into the “Saudi Arabia Business Hall of Fame” in 2016.
Criminal Charges Against Arif Naqvi of Abraaj Group
Arif Naqvi founder and former CEO of Abraaj Group has been charged with criminal allegations in the USA and UK. The charges relate to allegations of fraud and conspiracy and to misuse of funds raised by the Abraaj Group. Naqvi denies any wrongdoing and says he will defend false charges vigorously. Abraaj Group was once one of the largest private equity firms in the world with over $14 billion in assets under management. However the company ran into financial trouble in 2018 and was forced to sell assets. US charges Naqvi is the latest development of the Abraaj Group for the fall.
Abraaj Group once the leading private equity firm in the Middle East is now embroiled in a scandal with its founder and chief executive Arif Naqvi facing criminal charges. The charges stem from an alleged scheme to defraud Abraaj’s investors including the Bill and Melinda Gates Foundation and the World Bank of the International Finance Corporation. According to prosecutors Naqvi and other Abraaj executives used investor money to shore up the company’s flagging finances rather than using it to fund projects it was supposed to be working on. The plan comes to light after Wall Street investigation Magazine. Naqvi pleaded not guilty to the charges and his lawyers said he was a scapegoat for the company’s collapse.
Conspiracy Theories About Abraj Group & Arif Naqvi
There are many conspiracy theories about fall of Abraaj group. It is said that his company was victimized by former US President Donald Trump through US investors and media. Professor Brian Brivati has written a book “The life and death of Abraaj group” on this conspiracy. In fact Abraaj group was going to sell the K-Electric to a Chinese company Shanghai electric and US was opposing this deal. For stopping this deal US investors were forced to withdraw their investment from Abraaj group. Naqvi was also going to become the finance minister of Imran Khan but after the default of his company he was arrested in UK. In short he has become a victim of geo-politics just like Agha Hassan Abedi of BCCI. West and capitalism never allow a economic genius from East to grow and flourish.
Current Life of Arif Naqvi
Now a days Arif Naqvi is facing allegations about funding the PTI and Imran Khan through a private cricket club and and a famous personality of UAE. Arif Naqvi was arrested in April 2019 by Scotland Yard. USA is demanding the custody of Arif Naqi, but Naqvi is resisting it. He is house arrest in London and his bail was granted on very strict conditions. Now a day he is fighting a legal fight in the courts of UK. He health and mental condition is also not stable. He may get imprisonment of 300 years in USA in case of announcing guilty.
Positive Face of Arif Naqvi
Arif Naqvi is a proud Pakistani as he has never got the citizenship of any foreign country. He was born in Karachi in 1960. He graduated from London School of Economics. In 2005 he was awarded the Sitara e Imtiaz by then President of Pakistan General Pervaiz Musharaff for his generous donations for the victims of earthquake. He helped the Pakistan is all emergency situations like floods, earthquake etc. He is a big Donner of Shaukat Khanum Cancer Hospital, LRBT, Eye Care and many other charity organizations of Pakistan.
He played a great role for the release of Pakistani from the custody of Somalian pirates. He also helped the Malala Yousuf Zai in her education and immigration to UK. Aman foundation was also a project of Arif in which he invested about 35 billion rupees from 2008 to 2018. He was also patronizing the 1900 orphans of Gaza. In short charity was his very important priority that’s why he was awarded Oslo business for peace award. Now you may read the biography of Arif Naqvi in Urdu language below this post;
All You Need to Know About Arif Naqvi of Abraaj Group, Biography in Urdu & English
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