Abbas Zuaiter, Soros’ Boy in the Sand Box

Of the 500 most powerful Arabs in the world, an interesting choice pops up at number ten. A presumed gentleman by the name of Abbas “Eddy” Zuaiter:

soros fund management logo

As the former chief operating officer and chief financial officer of Soros Fund Management until December last year, Abbas ‘Eddy’ Zuaiter was one of the key cogs in the investment firm headed up by legendary financier and philanthropist George Soros.

The $23bn hedge fund has averaged a 20 percent annual return rate over four decades, and is widely regarded as one of the most profitable in the industry. Although he has now largely retired, Zuaiter has kept a position as adviser to the Soros family. Zuaiter’s responsibilities in his old role included overseeing all portfolios, operational, risk, treasury, human resources, trading, credit and financial reporting aspects of the firm and of the funds it manages. Prior to joining Soros Fund Management, Zuaiter was a Partner at PricewaterhouseCoopers LLP responsible for some of their most significant alternative investment management clients which included some of the largest hedge fund operations.

490 powerful Arabs follow Eddy. Including Amr Diab at 91.

4 thoughts on “Abbas Zuaiter, Soros’ Boy in the Sand Box

  1. In the wake of the global financial crisis, Islamic Finance has quietly been picking up speed and momentum (Do not be surprised to hear that the Chinese markets have been dabbling extensively within the marbled walls of the Dubai Islamic Bank).

    Modern day Islamic finance goes back to 1975, when ‘Haj Saeed Ahmed Lootaha’ a Muslim business man, convinced the Emir of Dubai that a new form of finance was required that could still be paired with the Islamic code of belief.
    (i.e. no investment in industries involved in pork, alcohol, porn, drugs, gambling; and definitely no speculation and accumulation of vast amounts of interest on given loans).

    Loans are now offered on the concept that a set bare minimum amount of interest could be made, which was then returned to a central pot for others requiring the same.

    Islamic Finance is now an economic system that treats Muslims equally and respectfully without exploitation (unlike the conventional finance systems of the West)!

    From Dubai, the system has spread around the Gulf States to parts of North Africa, Pakistan, Indonesia, Malaysia, Brunei, and the general ‘run of the norm’ Muslim countries, as well as North America, Germany, the UK and China.
    (The Shariah compliant business arm of HSBC known as ‘Amanah’ has since withdrawn from the UK, leaving the Islamic Bank of Britain to fend for the (approx) 2.5 million Muslims that dwell in the UK).

    Roots are being formed for growth in Azerbaijan, Nigeria, Kazakhstan and South Africa.
    (Japan and Australia have so far placed huge buffers up to block the markets opening on their shores).

    There is now an internal battle for dominance as to where the hub of the Islamic market will be based; Malaysia dominates the Islamic bond market, Dubai is coming out with all guns blazing wishing to restore its rightful crown.

    A little thought of the dangers of Islamic Finance…

    Two businessmen; one European, one Muslim, both wish to open a Taxi business within a major city within the UK. They each apply to their local bank for a substantial loan to purchase vehicles and offices.

    One was offered a loan at such a high interest rate that the business plan became a non-starter, even before his cheap vended coffee went cold in the equally cheap plastic cup.

    The other walked out with the loan with an interest rate so low that the Taxi business was in profit within six months.

    A mortgage for a house, no problem; we require a yearly ‘silly %’ return on the loan, which your unemployment benefit will cover as well as the monthly repayment. Isn’t the UK wonderful, especially as your child benefits will keep you in a lap of luxury also.
    (Oh, and if you are suffering through ill health due to your daily fatty food intake of ten thousand calories; you also qualify for a free vehicle through the Governments mobility scheme, which is replaced every three years; even the road tax is paid for! Unfortunately you have to pay for your own fuel to run the vehicle)!

    It is a fact that such Islamic loans are not used as intended by ‘some/most’ unscrupulous businessmen, a blind eye is often turned, as the system is also a financial tool for world domination by the ‘brothers’.

    But hey, what do I know about such matters…

    Yours Aye.

  2. And before any one even sniffs the air and states I am racist… I am not, I am patriotic, and I wish to see my country remain a Christian, Capitalist, Democratic, Society.

    Aye.

    • I would never accuse you of that, Ex Bootneck…but as a friend of mine by the name of Bonni who runs the website ‘Bare Naked Islam’ has often asked with justification, what race is Islam??? We already know the answer to that…k

  3. EB: Utterly interesting. I knew some of that, but you really fleshed it out.
    Kris: I agree. I would never think that either.

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