Yusra Abdul Ghaffar is the head of branches and Islamic banking at United Arab Bank (UAB), a Sharjah-based lender. Appointed to the position last month, Ms Ghaffar has been in the banking industry for more than 15 years. The mother of three, who lives in Dubai, says working in the industry has helped her with her personal finances, although she believes that money can't buy happiness.
How would you describe your financial journey so far?
As an earning adult, my financial journey has been a steadily upward one. I started my banking career at Commercial Bank of Dubai as a trading manager, then I held the post of head of Islamic banking at Mashreq. This eventful journey has so far been a progressive one. From there I moved to Abu Dhabi Islamic Bank as head of women's banking, developing strategies to build private banking (onshore and offshore) and currently I have taken up another challenging assignment at UAB. What particularly excites me in this new role is UAB is the fastest growing, most innovative local bank in the UAE.
Are you a spender or a saver?
I would describe myself as a prudent spender. If I'm a saver or a spender, it is part of my personality. It's sort of like whether you're outgoing or reserved, or whether you love Indian food or hate it. It's just something about you. Being a saver or a spender isn't good or bad on its own, but either personality can cause problems if it's not managed properly. We probably don't need to look too closely at our own habits to determine whether we're a saver or a spender. If you're a saver, good for you. It doesn't necessarily make you a better person, but you have a great start on managing your personal finances. If you're a spender, don't despair. There's something to be said for living the good life. The only problem is, too much of the good life now is likely to mean less of the good life later. Your financial personality ties in directly to your financial situation, so spenders have to learn to exercise some self-control.
What's your philosophy regarding money?
Money is not everything for those who have plenty of it. But for everyone else, money is the only solution to all their problems. And money can't buy you happiness … but it does bring you a more pleasant form of misery.
What are the challenges you face as a woman in the world of banking?
Globally, banking is a male-dominated territory. But I have been fortunate because UAE society is a very open one where hard work and commitment are appreciated and women especially are always encouraged to live to their potential. The many challenges I've faced so far haven't been gender specific, but have only improved my confidence in my abilities as a banker. Women should never be afraid of starting small because, with every journey, we started it with a single step.
Has your career in banking helped you with your personal finances?
Yes, of course. Banking teaches you to manage your personal finances as you are exposed to the best practices in the financial world.
Did you make any financial mistakes along the way?
Over the years, banking has taught me to make well thought out financial decisions, so I have not made any major financial mistakes so far.
Do you believe in planning for the future?
Yes, very much. Decision making and forward planning are essential principles of managerial economics and banking instils this in you right from day one.
Is money important to you?
Yes, money is important, but not the most important thing to me.
What is your idea of financial freedom?
Getting what I want and not cringing about every penny spent. In other words, when my needs and wants are met, I attain financial freedom. There might be numerous explanations about financial freedom. It could be that when you wake up in the morning, you have that smile on your face and you are looking forward to having a great day. You will do what you want to and enjoy it. Your basic needs are provided and you can express yourself freely. Financial freedom is about the right way of saving your money and the best vehicle to put your money to grow. The journey to freedom is when you discover financial planning in your life. Analyse your reality, then act upon it with the necessary actions to accomplish your goals. This what I do in my personal life.
What do you enjoy spending money on?
Jewellery, watches and gifts for my loved ones.
fglover@thenational.ae
Take Me Apart
Kelela
(Warp)
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
COMPANY%20PROFILE%20
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Tips%20for%20holiday%20homeowners
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Rating: 4 out of 5 stars
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BEETLEJUICE BEETLEJUICE
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Director: Tim Burton
Rating: 3/5
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Tips for taking the metro
- set out well ahead of time
- make sure you have at least Dh15 on you Nol card, as there could be big queues for top-up machines
- enter the right cabin. The train may be too busy to move between carriages once you're on
- don't carry too much luggage and tuck it under a seat to make room for fellow passengers
'The Lost Daughter'
Director: Maggie Gyllenhaal
Starring: Olivia Colman, Jessie Buckley, Dakota Johnson
Rating: 4/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY PROFILE
Name: Mamo
Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua
Based: Dubai, UAE
Number of employees: 28
Sector: Financial services
Investment: $9.5m
Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
What is hepatitis?
Hepatitis is an inflammation of the liver, which can lead to fibrosis (scarring), cirrhosis or liver cancer.
There are 5 main hepatitis viruses, referred to as types A, B, C, D and E.
Hepatitis C is mostly transmitted through exposure to infective blood. This can occur through blood transfusions, contaminated injections during medical procedures, and through injecting drugs. Sexual transmission is also possible, but is much less common.
People infected with hepatitis C experience few or no symptoms, meaning they can live with the virus for years without being diagnosed. This delay in treatment can increase the risk of significant liver damage.
There are an estimated 170 million carriers of Hepatitis C around the world.
The virus causes approximately 399,000 fatalities each year worldwide, according to WHO.
Our legal columnist
Name: Yousef Al Bahar
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Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
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ENGLAND SQUAD
Goalkeepers Henderson, Pickford, Pope.
Defenders Alexander-Arnold, Chilwell, Coady, Dier, Gomez, Keane, Maguire, Maitland-Niles, Mings, Saka, Trippier, Walker.
Midfielders Henderson, Mount, Phillips, Rice, Ward-Prowse, Winks.
Forwards Abraham, Barnes, Calvert-Lewin, Grealish, Ings, Kane, Rashford, Sancho, Sterling.
Essentials
The flights
Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
The tours
Superb ape-watching tours that take in all three gorilla countries mentioned above are run by Natural World Safaris. In September, the company will be operating a unique Ugandan ape safari guided by well-known primatologist Ben Garrod.
In the Democratic Republic of Congo, local operator Kivu Travel can organise pretty much any kind of safari throughout the Virunga National Park and elsewhere in eastern Congo.
Uefa Champions League last 16 draw
Juventus v Tottenham Hotspur
Basel v Manchester City
Sevilla v Manchester United
Porto v Liverpool
Real Madrid v Paris Saint-Germain
Shakhtar Donetsk v Roma
Chelsea v Barcelona
Bayern Munich v Besiktas