Investment date: 12 June 2008 Shareholdings: 40% Headquarters: Abu Dhabi, UAE Annual Report

A World of Opportunities...

Building on Fullerton Financial Holdings' unique business approach and its desire to cater to each customer's unique needs, an opportunity was recognized in the United Arab Emirates' (UAE) financial services sector. UAE ranks amongst the best performing economies of the world, enjoying rapid economic expansion underpinned by favourable macro-economic fundamentals arising from strong GDP and population growth. With the emergence of the UAE as a major regional hub with influence over a catchment of over 1.5 billion people in the neighbouring countries, this growing population is very diverse, and hence the financial needs tend to be very specific for different segments. Based on a detailed assessment of the market, FFH found that despite the existence of 46 banks in the UAE, large segments of the population still remain un–served or under–served.

Recognising the need for a financial institution which truly cares about its customers, and is available to serve all communities, FFH entered into a strategic partnership with Mubadala Investment Company PJSC, Waha Capital PJSC (formerly known as Oasis International Leasing Company PJSC), and A.A.Al Moosa Enterprises LLC, with 40% ownership by FFH. "Dunia Finance LLC" or "Dunia", as it is more commonly known, was created.

This was a significant event as it saw two of the largest government owned investment companies, Temasek of Singapore and Mubadala of Abu Dhabi come together as partners in their maiden financial services venture in the UAE.

Dunia's strategy is to address the current gap that exists in terms of coverage and penetration of financial products and services, by building a customer–centric, relationship–based business model focused on serving the large un–served and under–served customer segments, in–line with the unique value proposition for each customer segment which was identified through market research. Dunia's aspiration is to be a complete financial solutions provider for its target customer segments across the UAE. Dunia will cater to the salaried mass market, mass affluent, affluent, self employed mass market and the SME customer segments.

What does Dunia mean?

Dunia means the world in many languages - Arabic, Urdu, Hindi, Malaysian, Bengali, Turkish, Indonesian, Tagalog, Hausa, Swahili, Punjabi and Pashto.

We are named Dunia because we want to mean 'the world' to someone. We believe we can change the way people see life, and put a smile on someone's face.

Financial & Operating Highlights

  S$m, y/e 31 December20162015 2014 2013
 Branches 1919 19 19
 Employees 2,0221,750 880 904
 Total Assets 871840 579 373
 Shareholders Equity 277279 225 157
 Net Income 2782 66 40
 ROE % 9.632.3 34.6 29.3

Our Unique Value Proposition for each segment

Dunia caters to the mass affluent and affluent customer segments. We want to provide a wide range of customized financial solutions through superior products, service and relationship experience based on respect, with easy access through an empowered Relationship Manager, alternative access channels for convenience and speed, to provide for better life-style and future for self and family – back home / internationally.

Dunia Trade caters to the self-employed mass market segment. We want to be a caring community-based financial services provider designed specifically to serve the un-banked or under-served lower income self-employed, through a superior relationship experience, empathy and respect, with convenient, fast and easy access to credit for their business or personal needs, to help them grow their businesses and provide for a better future for self and family.

Dunai Money caters to the salaried mass market segment. We aim to offer a community-based, superior service and relationship experience based on empathy and respect, while delivering customers with easy credit, simple savings and remittance products, to meet their simple financial needs, in order to help them provide for a better future for self and family – back home.

Further information can be found at the website


Mr Rajeev Kakar

Chief Executive Officer

Prior to joining FFH in January 2006, Mr Kakar was the Regional Head & CEO for Citibank's Global Consumer Bank, managing the Turkey, Middle East and Africa region, based out of Dubai. Mr Kakar was also a Director on the CEMEA Board of Visa International from July 2004 - February 2006. With nearly two decades of experience in the Banking Industry, Mr Kakar has expertise in enterprise management in diverse environments, turn-around management, and hands-on experience in the functional areas of General Management, Finance, Operations, Marketing, Sales and Credit.

Mr Kakar joined Citibank in 1987 in India. In 1998, Mr Kakar started the Citigroup/ Suzuki (Maruti) joint venture finance company in India and ran this highly successful enterprise as its founding Managing Director and as the CEO for over two and a half years. In 2000, Mr Kakar was appointed the Country Head for Citibank in Egypt, where he launched the Consumer Bank. Mr Kakar relocated to Turkey in 2002 as Citibank's Cluster Country Head & CEO, for Turkey and Egypt. His role was expanded further and in 2003 when he took on the role of Regional Head & CEO for Citibank, managing the rapidly growing and complex markets of Turkey, Middle East, Pakistan and Africa.

Mr Kakar holds a Bachelor in Technology and in Mechanical Engineering from the Indian Institute of Technology (IIT) Delhi and a Master in Business Administration, focusing on Marketing and Finance, from the Indian Institute of Management (IIM) Ahmedabad.