Saving grace

Mohammad Qasim Al Ali, CEO of National Bonds Corporation, believes that savings should be a way of life. He tells Suchitra Bajpai Chaudhary how, while enabling people to realise their dreams of becoming a millionaire, he is in effect, giving them a lesson in preparing for a rainy day.

Mohammad Qasim Al Ali, CEO of National Bonds Corporation, the UAE's novel Sharia-compliant saving scheme, always meets people with a broad, sunny smile. If you were him, you would too especially when you are credited with making millionaires of 39 hopefuls and getting half a million people in UAE to be bondholders all in just three years. What made this possible is also the fact that Ali loves people.

The first job that Ali held when he returned with a university degree in Aviation Management from the Florida Institute of Technology, was as a records clerk at Al Maktoum Hospital. He feels it was the most important job he ever held because this is where he learnt what it meant to communicate with people by understanding their pain. "The job was hectic and tedious but it taught me some of the most important things about human behaviour. It humbled me."

Empowered by that experience, he joined Emirates Airlines as an intern and went on to become the general manager in the UK and vice-president of customer service and operations at Dnata, the sister company of Emirates. He spent 17 years with the organisation in the field of strategic management and ground handling. Ali has a few mantras for living life with simplicity and happiness:

- 'Treat each other with respect.'

- 'Be consistent in your beliefs and values.'

- 'Save regardless of the times.'

- 'Challenge yourself every day, push your limits, raise the bar.'

- 'Discover cheaper, better and more resourceful ways of doing things.'

He believes these are small steps that can help a person make the giant leap to a better life.

Recently she broke her bone again. It was at 4am in the morning when the accident happened and she lay on the floor for nearly four hours in complete silence not wanting to disturb us. Only a mother can make such sacrifices. Her home is a road away from mine and I meet her every day. Every Friday, we have a family gathering. It gives me a pleasant buzz to be with my loved ones my sisters, brothers, sisters-in-law, nieces and nephews. My mother as the matriarch makes a genuine effort to keep us all in touch and I hope to preserve that tradition always.

I do not see eye to eye with people who are either complacent about their work or those who contradict themselves. Sometimes you find people who say one thing, but act in another way that does not support their thoughts. I find that intolerable. In my organisation, I like people to be result-oriented. If you try to conceal either of these approaches, sooner or later customers will spot it.

I, ME, MYSELF

Me and the child in me
I think my irrepressible desire is my love for cars. I love to drive fast but have to restrain myself because of speed cameras. Perhaps I will end up on the fast track at Motor City one day. I am crazy in some ways in that I often window shop, enter showrooms just to look at the beautiful (car) models or go for a test drive. What I love about cars is their speed and durability. I have passed on this passion to my son, Yousuf and I often go car gazing. Once, when Yousuf was seven, we went to the Porsche showroom. We were shown a new model by the salesman who after the demo put the key back in the glove compartment. A while later, as I was chatting with the salesman in the office, we heard the engine of the Porsche rev. It was Yousuf! He had noticed the salesman replacing the key in the glove box, so he retrieved it and started the car. It was quite an adventure for him and probably a nightmare for the salesman.

Aviation was a pleasant accident or a twist of destiny in my life. I had gone to the US to graduate in Computer Science and realised I needed to study Calculus. I was never keen on Calculus so I decided to change my major. The university was offering a major in Aviation Management and in the ' 80s and there were few UAE nationals with that qualification. So I switched majors. In retrospect, it was a very tactical decision. I had to struggle to get a job in Emirates as they had discontinued the management trainee programme when I was ready to join. Eventually, I was inducted in 1988 and had a wonderful time being posted in Riyadh, Bangladesh, the Philippines, Pakistan and the UK. I think it was the most rewarding learning curve for me. I gained a wealth of knowledge on the aviation industry and also hands-on experience in dealing with people.

Savings to me are the cornerstone of good upbringing. I encourage my children to save. They get an allowance and I try to see that they set aside a sum each month. I also encourage them to be entrepreneurial. This helps them understand the value of money and learn to respect work.

I read the Quran, both in the audio form and in the print form, every morning. It prepares me for the day ahead. I love watching Oprah with my family. Although I do not agree with all that she says, I admire her for her charity and the fact that she has changed so many lives.

I like to delegate work and earn the love and trust of my staff. I want them to have a free hand yet I also insist on accountability. I like to connect one-on-one with my staff. I like to address them by their first name, ask about their culture and try and learn a few things. However, with a 150-strong staff, this is becoming increasingly difficult.

Getting rich quick is a fluke; it only happens to one in many. Life is ultimately about good and bad behaviour and what we are doing is rewarding good behaviour. I want to tell people that just like rain starts with a single drop, a million dirhams start by saving Dh100. That is the cost of a single bond.

It is said that when you are in the aviation industry, the jet fuel is in your blood. That's how passionate I was about my job. I loved every moment of it. On the face of it, (my career path) does seem like an about-turn. However, when I was making this important switch from a service-oriented company to an investment company, I recall the words of the chairman of National Bonds. He said, "You were dealing with people and you will be dealing with people. It will be a smooth cruise for you." He was right.

My childhood memories. I had the most amazing childhood, living in the Bastakiya neighbourhood, mixing with a lot of cultures, playing football at Al Musalla grounds. Those were the best years of my life and are unforgettable.

There is a very thin line between these and it has got a lot to do with upbringing which in turn has got a lot to do with maturity. I have seen an eight-year-old save while I have come across 20-year olds who are nothing but overgrown schoolboys. Saving, generosity and enjoying life is all about a certain sense of responsibility that you feel towards society. Hoarders keep money away from circulation and essentially damage the economy.

Similarly, showing off or enjoying life has got to do with certain intrinsic values. I know of wealthy people who can afford a Rolls Royce but will drive a Mercedes. On the other hand, I have come across people with modest wealth who will take huge car loans to be able to drive an expensive car or spend half their salaries on mortgage just to be in the league of the rich. I don't think that is correct. I feel the media must take responsibility in tempering this reckless consumerist culture.

Ultimately what is important is to have the situation under control and not allow the situation to control you.

I choose the former, because when we talk of saving, it is not just about money; it is part of a greater design of self-preservation. We, as trustees of this beautiful planet, have to uphold preservation. We need to conserve and save all that is material and spiritual and precious for the benefit of future generations. We are constantly telling people to save fossil fuels, save trees, save paper, etc., because living life this way is the only option we have.