ARIF Naqvi founded The Abraaj Group and was one of the most influential businessmen in the world.
After accusations of fraud, the company ceased operations in 2018. But who is he and what do we know about him?
Who is Arif Naqvi?
Arif Naqvi is the founder of private equity firm The Abraaj Group.
The firm was based in Dubai and operated in six continents.
He founded the business in 2002 as Abraaj Capital, and merged with Aureos Capital in 2012 to become The Abraaj Group.
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Naqvi was born in Karachi, Pakistan on July 13, 1960.
He completed a degree at the London School of Economics, and returned on occasion to give speeches.
Along with his wife Fayeeza, Naqvi founded the Aman Foundation in 2008.
It is a non-profit organisation focused on giving Pakistanis healthcare support and skills to reshape their lives.
In the UK, he built the Harrow Mosque and the Masood Community Centre which was named in honour of his late father. The project opened in 2011.
He was awarded the Sitara-i-Imtiaz by the government of Pakistan in recognition of his work in the field of public services.
The honour is the third highest civilian award given in the country.
Arif and wife Fayeeza have one son, Ahsan.
What is Arif Naqvi's net worth?
As of 2023, Naqvi's personal net worth is thought to be around £2million.
At its peak, his company was said to have assets of around $14billion (£11.5bn).
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Naqvi is considered to be the first Pakistani man to break into the western world of private equity finance.
What does Arif Naqvi do now?
Naqvi stepped down as CEO of The Abraaj Group in 2018, as the company has became subject to multiple investigations regarding its fund management practices.
In January 2022, the Dubai Financial Services Authority personally fined Naqvi $135.6million for his role in the collapse of Abraaj.
A Financial Times article in July 2022 revealed that Wootton Cricket Ltd, a Cayman Islands based company owned by Naqvi, was bankrolling Tehreek-e-Insaf, a Pakistani political party.
The party is led by former cricketer Imran Khan.
