WEALTHRefined Wealth Lasts the Ages

THE BIOGRAPHY OF

Private Banking Wealth Management

CHAIRMANMr. Ahmed Abdalla Al Noman

VICE CHAIRMANSheikh MohammedBin Saud Al Qasimi

Sheikh Saif Bin MohamedBin Butti Al Hamed

Mr. Abdul Aziz HassanAl Midfa

Mr. Francois Dauge

His Excellency HumaidNasser Al Owais

Mr. Abdul Aziz MubarakAl Hassawi

Mr. Jean-Jacques Santini

Mr. Abdul RahmanBukhatir

Mr. Saud Al Besharah

Executive Director & General ManagerMr. Varouj Nerguizian

HONORARY CHAIRMANHIS HIGHNESS, DOCTOR

Sheikh Sultan Bin Mohammed Al Qasimi

Bank of Sharjah Board of Directors

Message from the Executive Director and General Manager

The Biography of Wealth

History of Bank of Sharjah

History of the Commerzbank Group

A Unique Partnership

Luxembourg as a Financial Centre

The Future

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CONTENTS

The picturesque Buheira Corniche is a significant location within Sharjah, where events like the Sharjah Water Festival and Formula One Powerboat World Championship are held.

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Varouj Nerguizian,Executive Director & General Manager

To our Esteemed Customers,

For years, we laid forth the stepping stones for corporate and private clients to move forward with us. Looking ahead, we know that it is incumbent upon us to protect and grow the individual wealth that the UAE citizens and residents alike have worked with determination to earn and secure.

The partnership between Bank of Sharjah and Commerzbank International S.A. that started in 2012 represents an important step forward for the regional banking industry and a great stride of progress for Bank of Sharjah. For years, banking within the UAE had been confined to local entities facing their international counterparts, with each entity bringing forth the perspective, insight, and expertise of their home markets. From this polarized platform, the local industry had disregarded the deep and vetted understanding of its international peers, beyond the borders of the MENA region.

At Bank of Sharjah, we have strived to adopt the best practices of financial institutions from around the globe.We understand the journey to prosperity which the region’s families and individuals have endured. Within this context, we sought to establish a private banking platform which is founded upon the Bank of Sharjah legacy of commitment and draws from a diversified portfolio of international financial products. We looked to the Commerzbank Group as an organization for which the Bank has held great respect. Commerzbank holds an image of prestige and good repute precisely because it has abided by principles of good governance and a commitment to client satisfaction that are Bank of Sharjah hallmarks. Together we embody the resolute culture of due diligence and performance-oriented Private Banking and Wealth Management which will serve your financial objectives today and safeguard your wealth for the next steps in your journey.

We have been guided by our objective of strong performance and by a steadfast adherence to the founding principles of sound corporate and investment banking. Through this lens, we have seen the Bank of Sharjah balance sheet grow as the UAE economy prospered and as the businesses we served yielded consistent and healthy track records.

Bank of Sharjah – with its past French legacy and future German vision in wealth preservation – stands tall to serve you best.

“Price is what you pay. Value is what you get.” Warren Buffet

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The Biography of

Wealth

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Sharjah is known for its legacy of art, heritage and culture, represented well by the Al Hosn Fort.

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The Real Meaning of WealthWealth is often described as ‘the abundance of valuable resources or material possessions’, but the real meaning changes according to the context.

Over the course of history, wealth has taken many different forms. Nevertheless, one thing has remained the same, it stands for value, and value is permanent.

The First Form of Money Lived on a FarmThroughout history, agrarian societies depended on domesticated cattle for their livelihood. Livestock such as camels, cows, goats, horses, sheep and other animals are considered the first and oldest form of money.

Allowing sellers to set a price, cattle brought on the concept of standardized pricing and value for instance, two goats were traded for one cow, as a cow was seen to be ‘more valuable’ than a goat, a fact that remains true to this day.

The Exchanging of ValuablesWhile the trade of cattle is still considered a form of barter, the concept was further developed when it extended to other items. The Greek philosopher Aristotle considered that every object had two uses, the first being the original purpose for which it was designed, and the second as an item to barter in exchange for something else.

However, the system had its own set of limitations and was dependent on a coincidence of offer and demand. Sellers had to find buyers who could afford what was being sold, and had something in return that the seller wanted. This is when the need for a ‘standard measure of value’ was born.

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Academic city in Sharjah - A community that accommodates major universities in the UAE and provides elite education.

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From Cattle to Commodity, From Metal to Molluscs When the Phoenicians first formed iron half-rings that resembled a pair of bull’s horns, they became the forerunners of metal money. However, previously unvisited lands and other civilizations had no concept of cattle trade and wouldn’t acknowledge the iron bull horn as a legitimate currency for trade. Other metals such as gold, silver and copper were easier to value and certainly more alluring than the forged iron bull horn symbol. Gradually this made way for the first coin that bore the image of the sovereign of the Phoenicians’ homeland.

Civilizations around the world eventually began minting their own coins, engraving images of gods and emperors to mark their authenticity and assigning each one a different value, with the coins made of the most precious metals evidently possessing the highest value. Ever since, coins have continued to be the most universally accepted embodiment of money.

In the ancient societies of Africa, China and India, cowry shells from molluscs were first introduced, and are also considered among the earliest forms of money. Found in the shallow waters of the Indian and Pacific Oceans and bearing all the characteristics of coins such as durability, divisibility, easy recognition and transportation and an alluring form. Various forms of shell money have been discovered on almost every continent and were considered as legal tender up until the mid-19th century; making shell the most widely and longest used currency in history.

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Sharjah developed as a major fishing hub, with pearl diving as the first organized industry in the region.

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The Promise of PaperThe idea of using a durable yet lightweight medium as a promise to pay a bearer on demand originated in China during the Han dynasty in 118 B.C. Moreover, the first known banknote was also developed in China and had its roots in the Tang dynasty in the 7th century. Precious metals were never a portable means of trade and merchants sought to avoid the heavy bulk coinage in large commercial transactions. Metal forms of money would be deposited for safekeeping against a promissory note, a receipt confirming the deposit, and these deposits were once held as proof of wealth.

True paper money did not appear until the 11th century, during the Song dynasty and later spread through the Mongol Empire. In the 13th century, European explorers such as Marco Polo introduced the concept in Europe, when traders started using promissory notes, which evolved with time to regular banknotes.

The use of bank notes issued by private commercial banks as a legal tender was gradually replaced by bank notes authorized and controlled by national governments. The Bank of England was granted sole rights to issue banknotes in England after 1694. In the USA, the Federal Reserve Bank was granted similar rights after its establishment in 1913. Until recently, these government-authorized currencies were forms of representative money, since they were partially backed by gold or silver and were theoretically convertible into gold or silver.

However, in the Arabian Gulf, another commodity prized for its lustre was gaining in value due to its rarity, and being discovered and traded for other more valuable commodities – the pearl.

The pearl diving industry is often considered the first organised commercial industry in the region.

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Built in the memory of the Nation’s Father, the Sheikh Zayed Grand Mosque in Abu Dhabi is the biggest mosque in the world.

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Shifting the Spotlight, Evolution of the Emirati EconomyIn the 19th and early 20th centuries, pearling was the primary source of income and employment for the people of the Gulf. Inhabitants led semi-nomadic lifestyles, diving for precious pearls in the summer and tending date farms in the winter. However, the economic depression in the 1920s and 1930s, coupled with the Japanese invention of the cultured pearl, irreparably damaged the industry.

In the early 1930s, the first oil company teams conducted geological surveys and by 1962, the first cargo of crude was exported from Abu Dhabi. Oil revenues grew year by year; the income was invested in the construction of schools, houses, hospitals and roads to improve quality of life. Eventually, the Federation that came to be known as the United Arab Emirates was formally established on December 2, 1971.

The Al Jahili Fort in Al Ain was built in 1891 and remains as one of the UAE’s most historic monuments.

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Sharjah has quickly evolved into a great city over the past four decades.

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In 1972, His Highness Sheikh Sultan Bin Mohammed Al Qasimi became the Ruler of Sharjah and in the same year, oil was discovered 80 km offshore in the Mubarak oilfield. The production of oil within two years marked the beginning of a new era in Sharjah’s economy.

In the past four decades since formation, Sharjah has evolved from relying on agriculture, pearling and fishing to an entrepreneurial success story with world-class infrastructure. The leadership has improved education, effectively eliminating illiteracy, advanced the healthcare system and embraced change alongside the rest of the UAE as it modernizes, while nevertheless remaining true to its rich history and cultural values. Today, it is a proud member of the strong, vibrant and modern United Arab Emirates that welcomes the world with open arms.

Moreover, just a few decades ago, after the formation of the United Arab Emirates in 1971, the Ruler of Sharjah, H.H. Sheikh Sultan Bin Mohammed Al Qasimi issued a decree calling for the creation of the first financial institution in the Emirate of Sharjah.

Kayaking in a protected mangrove forest in Khor Kalba, Sharjah is known for its scenic beauty and native biodiversity.

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“Without continual growth and progress, such words as improvement, achievement, and success have no meaning.” Benjamin Franklin

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History of

Bank of Sharjah

Built in 1978, Sharjah’s Central Souq was the first shopping centre in the city and remains to be an iconic landmark to date.

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Bank of Sharjah new head office, Sharjah, UAE.

Bank of Sharjah Comes into BeingOn December 22, 1973, Bank of Sharjah was established as the first national financial institution in the Emirate of Sharjah and the fifth in the UAE, a landmark year when the UAE dirham was introduced.

The three founding members were - the Government of Sharjah, the Hassawi Group and Banque Paribas (later BNP Paribas) - each held a 20% stake and the remaining 40% capital was made available to public subscription for the first time in the UAE.

Over the last few decades, the Bank has played a big role in empowering the Emirate of Sharjah as a leading contributor to the UAE Federation, which has boosted growth in the region. With the emergence of the UAE’s stock markets, Bank of Sharjah became a publicly traded entity at the Abu Dhabi Securities Exchange in 2004.

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The tallest tower in the world, Burj Khalifa, stands proud to be a local entity that has embraced and surpassed international standards.

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Values and MissionBehind Bank of Sharjah’s systems and culture lie a fundamental set of principles and values that shape all its actions.

Performance, Ethics, Transparency, Initiative, Commitment and Quality structure the core values that guide us every day, and are imprinted in the way we do business and how we contribute to society and the environment.

Our mission is to achieve strong and sustainable performance for shareholders while maintaining a commitment to our customers and always remaining at their side as they realize their aspirations and objectives.

PresenceWhen a country witnesses such incredible growth over a short timeframe, it is imperative that its financial institutions grow alongside as well. Bank of Sharjah - a corporate bank, has spread its wings over the years, opening its first branch in Abu Dhabi in 1988, followed by Dubai in 1996, Al Ain in 2007, Dubai Media City in 2012 and the revamped Private Banking and Wealth Management division in Motor City at the end of 2012.

Further opportunities for growth arrived in the form of acquisitions and soon became part of Bank of Sharjah’s strategy for future success.

In 2007, Bank of Sharjah acquired Banque de la Bekaa S.A.L. in Lebanon, marking its first step outside the UAE. By 2008, it acquired the assets and liabilities of Banque Nationale de Paris Intercontinentale, Beirut and combined both new purchases to form a new entity called Emirates Lebanon Bank S.A.L. This venture is a gateway to a financial network and services for current and new customers in the UAE and Lebanon.

Private Banking Wealth Management Dubai premises located in Control Tower, a site designed by Dame Zaha Hadid.

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The legendary UAE Traditional Dhow Sailing Race is still one of the most spectacular and graceful sports.

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An Unrivalled Track Record in the RegionIn the world’s ever-changing financial landscape, Bank of Sharjah has weathered many storms.

When the UAE economy faced turbulent times, Bank of Sharjah was one of the few institutions to practice due diligence and perform consistently, safeguarding stability, and even increasing returns for shareholders whenever possible. The business has grown along with our clients, staying true to the motto ‘Your Partner in Progress’.

Many clients, who joined the bank in 1973 continue to remain customers to this day. The enduring relationships with both employees and customers further uphold the culture of loyalty and commitment. We have retained almost the same Board of Directors since inception and maintained a strong, solid financial performance.

Bank of Sharjah is a forward-thinking institution with a personalized client service and focus on wealth management for private customers.

The Private Banking Wealth Management division is in line with the bank’s strategy to expand and diversify the reach of its financial services in order to maintain its growth momentum.

In more recent times, Bank of Sharjah’s determination to form trustworthy partnership of the highest standing has come to the fore, continuing to be a source of great pride. In 2012, the bank entered into a cooperation agreement with Commerzbank International S.A. Luxembourg in Private Banking & Wealth Management.

This partnership represents an important step forward for the regional banking industry and a stride of progress for Bank of Sharjah. After all, a great partnership begins with a great partner.

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“Wealth, like happiness, is never attained when sought after directly. It comes as the by-product of providing a useful service.” Henry Ford

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History of the

Commerzbank Group

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The Commerzbank tower in Frankfurt, Germany stands tall and proud with over 140 years of banking experience.

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Commerzbank Group Headquarters, Frankfurt, Germany.

A Banking Legacy of over a CenturyCommerzbank Group has a long tradition of corporate responsibility. Founded by merchants, merchant bankers and private bankers in Hamburg in 1870, the Bank continues to feel bound by the values of the Hanseatic roots to this day.

Today, Commerzbank is one of Germany’s leading banks, serving over 15 million private customers and over 1 million business and corporate clients in 52 countries. It is considered one of Europe’s foremost financial institutions – with around 56,000 employees on average, and assets of EUR 750 billion.

Combining the experience and tradition of a German bank with over 140 years of history, Commerzbank benefits from its headquarter in Frankfurt, Germany’s financial centre, and its presence in Luxembourg, a centre of competence for international wealth management. Fairness, competence and partnership are the values that Commerzbank stands for and customers trust. The ‘Commerzbank Excellence’ initiative, which was launched with this goal in mind, aims to improve the quality of the services the Bank provides to its customers, combined with a constant focus on a culture of service and efficient processes, thereby creating the conditions for profitable growth.

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“If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” Edmund Burke

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A Unique

Partnership

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Home to many spectacular Football matches, the iconic Commerzbank Arena in Frankfurt was built in 2005 on the grounds of the legendary German stadium, Waldstadion.

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A One-of-a-Kind Partnership Bank of Sharjah’s relationship with the Commerzbank Group goes back a long time, when it formed a collaboration with Dresdner Bank’s investment banking division over 30 years ago. After Dresdner Bank merged into Commerzbank in 2009, the relationship between the two banking institutions reached a new level.

In 2012, Bank of Sharjah signed a landmark cooperation agreement with Commerzbank International S.A., which opened up a whole new realm of financial investment and wealth management solutions to the investors of this region.

The partnership continues to be truly the best of both worlds, combining the trust, stability and solid performance of Bank of Sharjah with the experience and know-how of the Commerzbank Group. The two institutions are experts in their respective fields and regions. The combined private banking wealth management entity is a great example of the realization of many years of successful partnership.

Signing the partnership agreement between Commerzbank International S.A. and Bank of Sharjah.A partnership that is built on a strong foundation of trust, transparency and teamwork.

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Bank of Sharjah’s Private Banking Wealth Management division is ideally located in Dubai Motorcity near the Dubai Autodrome, a growing hub of commerce and development.

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A Global Perspective for the Local MarketThe agreement between the two institutions creates a new business model, greatly expanding the current offering and opening doors for local investors to Europe through an on-ground local network, creating sustainability and a future concept for financial success.

Commerzbank International S.A. brings its European finance specialists to the UAE’s shores through its partner Bank of Sharjah. With the support of Bank of Sharjah’s network of branches, a new operational platform has been created by experts to find and deliver the right products to investors with customized advice and unique solutions tailored to their needs and adjusted according to local demands and market requirements.

The new partnership gives local clients the opportunity to open an offshore account at Commerzbank’s International Wealth Management division in Luxembourg and access a diversified offering of sophisticated financial products. The entity provides complete on-shore private banking and wealth management solutions with a specially trained and dedicated team to ensure the highest level of service. This marks a positive addition to our corporate culture, and a renewed commitment to growth.

Bank of Sharjah

Commerzbank International S.A. Luxembourg

RelationshipManager

BOS

PBWM Business Model

Customer Care Acquisition

Transaction

Advisory

AccountOpening

‘Some bonds are too strong to break’ is a defining statement for Bank of Sharjah.

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Your On-ground Partner Every Step of the Way Trusting Bank of Sharjah with your wealth offers a lot of benefits beyond local expertise:

• An on-shore financial partner to invest through an off-shore European account.

• Expert research, a wide range of products adjusted to local demands and market requirements.

• Access to customized financial solutions.

• A range of customized wealth management and investment solutions, guidance and advice on the acquisition and preservation of wealth.

• A solid, dependable investment avenue for high net worth individuals and corporate customers.

• Empowering you constantly with tools, timely knowledge, and transparent and consolidated reporting to make the right decisions.

• Service that is personal, exclusive and full of dedication.

Moreover, the most unique part is the location of our partner Commerzbank International S.A. in Luxembourg, which is a distinctive financial centre.

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“Fortune sides with him who dares.” Virgil

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Luxembourg

as a Financial Centre

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The symbolic Gëlle Fra (Golden Lady), Luxembourg City.

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Luxembourg as a Financial CentreThe Grand Duchy of Luxembourg may be one of the world’s smallest nations, but it has established itself as one of the world’s ten largest financial centres, and no wonder why.

A stable political environment, an experienced and dependable banking supervisory authority and competitive conditions are just some of the reasons it has attracted a growing number of investors from around the globe.

As the first private banking centre in the Eurozone and the largest investment fund centre in Europe, Luxembourg occupies a unique position in the world’s financial market. It is the second largest investment fund centre in the world after the United States and is renowned as a very stable economy both politically and socially.

It offers investors a modern legal framework and a strong culture of banking discretion and investor protection. As a strategic location, it is one of the most secure and aware markets with extensive knowledge of what the international clients need; a true gateway to the European market.

Private banking and wealth management are the primary activities of the Luxembourg financial centre; from advisory services to discretionary management, investors can expect highly qualified professional assistance, personalised services and complete privacy.

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Commerzbank International S.A. greatly benefits from its location in the European Union’s wealthiest country, Luxembourg, which is continuously growing into an international financial hub.

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Commerzbank International S.A. in LuxembourgCommerzbank International S.A. was founded in 1969 in Luxembourg as a fully owned subsidiary of Commerzbank AG. In 1999, it acquired a majority stake in Argor-Hereaus S.A., one of the world’s leading precious metal refineries. Commerzbank International S.A. positioned itself as a centre of competence for international wealth management and precious metals with worldwide expertise. Its professionalism and longstanding experience in Luxembourg, with complete knowledge of the international market and highly qualified multilingual specialists, come together to create a platform of international advisory expertise and offer investors a complete and innovative range of services.

The comprehensive wealth and asset management services of Commerzbank International S.A. are backed by exclusive knowledge and expertise in value propositions and three core competencies (Assets in Management, Assets in Structures and Assets in Precious Metals). Offering customized solutions that match the personal profile of customers, as the ultimate goal remains the same, protecting wealth and minimizing risk for the best possible investment opportunities.

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Bank of Sharjah takes pride in being known for assisting clients achieve their targets and succeed with their endeavours.

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Creating Sustainability and Future Concept for Financial Success Discretionary Asset ManagementOur clients’ wealth is in safe hands when an asset management mandate is specially tailored to complement their personal needs and goals. Investors get to save time when delegating investment decisions to dedicated professional investment and risk managers. Continuous updates are communicated through clear, transparent portfolio structures and regular reporting. Offering Multi Asset Solutions, Absolute Return Solutions, Individual Strategies and Fund Solutions.

Access to a Broad Selection of Investment and Estate Planning VehiclesInvestment vehicles provide concrete structures with direct access to attractive investment opportunities, all within the competitive legal and fiscal environment of the Grand Duchy of Luxembourg. With a firm focus on preserving clients’ fortunes, we offer unique solutions for long-term structuring and transmission of assets. A team of specialists develops individualized concepts and supports clients in reaching their goals with a diverse selection of financial vehicles focusing on a wide variety of asset classes and strategies. Structuring and diversifying assets by using special capital markets and accessing simple and flexible wealth management vehicles to streamline wealth and to arrange inheritance and succession planning preserving family’s property and fortune.

Investments in Precious MetalsAs one of the world´s leading banks for investments in precious metals, Commerzbank International S.A. offers access to its own production due to its participation in Argor-Heraeus S.A., one of the world’s leading refineries. Clients are granted direct access to multiple-award-winning precious metals trading platforms and a range of unique products, as well as participation in the precious metals markets’ development to help protect assets over time.

The solution diversifies clients’ wealth through an investment in ‘real value’ and not just perceived value. Facilitation, storage in secured vaults and management of physical precious metals is one of the strongest advantages, offering also account and custodian solutions with claims on delivery of bars and coins. From the full spectrum of non-physical precious metals to a share in physical gold solutions, investors can be rest assured that their own wealth is securely stowed yet always accessible.

“Your Wealth is our priority. It is our supreme good and determines our activities.”

The asset management

investment philosophy

High quality standards and team approach

Conservative asset manager

Long-term approch

Multi-stage selection process

Active risk management

Transparency and independence

Asset management investment philosophy of Commerzbank International S.A.

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“From crisis emerge men determined to succeed.” Sheikh Zayed Al Nahyan

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The Future

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“The future depends on what you do today.” Mahatma Gandhi

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What the Future Holds Bank of Sharjah truly lives by its motto of ‘Your Partner in Progress’, growing steadily alongside our customers. With new branches, acquisitions and the cooperation agreement in Private Banking Wealth Management with Commerzbank International S.A. in Luxembourg, our capabilities and offerings have grown to successfully meet the unique investment needs and challenges of our clientele.

Bank of Sharjah’s biggest partners in progress are our customers. We hope that the relationship with clients continues to grow and attain new heights of success and prosperity, just as ‘Refined Wealth Lasts the Ages’.

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Bank of Sharjah, Private Banking Wealth Management,Motor City, Control Tower, 31st Floor, Dubai – UAEPBWM@Bankofsharjah.com, www.bankofsharjah.com

Tel: +971 4 4510711