Prominent Arab businessman visits LAU Model United Nations program

Shehab Gargash, managing director of a leading UAE financial consultancy company, met with MUN students and talked about the Dubai financial crisis.

March 4, 2010

Shehab Gargash, managing director of Daman Investments (PSC), a financial consultancy company in the UAE, gives a presentation for LAU MUN students about "Lessons Learned from the Dubai Financial Crisis."

Gargash (standing, 1st from right) and Rahma Hussein Rahma El Zaadieh (1st from left), UAE ambassador to Lebanon, visit an LAU MUN class, accompanied by LAU officials.

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Shehab Gargash, managing director of Daman Investments (PSC), a leading financial consultancy company in the United Arab Emirates, and also a finance mogul who hails from the 14th wealthiest family in the world, visited LAU’s Beirut campus to get acquainted with the AL WALID GC-LAU Model United Nations program, on Saturday, February 27.

The prominent Arab businessman visited the classes where MUN trainers were conducting sessions on the topic of “Public Speaking and Role Playing,” as part of their regular training sessions for high school students participating in the program.

After a tour of the classes, faculty, staff and students filled the seats of the Irwin Hall Auditorium to attend a presentation by Gargash about the lessons learned from the infamous Dubai financial crisis.

Before Gargash took the stage, LAU President Dr. Joseph G. Jabbra gave a brief address to the audience stating, “When I look at your beautiful faces, I am certain that you are our present and future.”

The LAU MUN project leader Elie Samia, who is also the director of the Guidance Office in Byblos, introduced Gargash with praise, saying, “With your background in marketing and international business, you came into the world of investment with some spectacular achievements. After working in CitiBank for five years, you founded your own investment company, managing around five billion UAE Dirhams.”

Samia added: “Your sense of realism, your gracious modesty, and your success make us all proud today to have you here among us in the fifth annual high school LAU AL WALID Model United Nations.”

In his presentation, Gargash explained the recent economic downfall in Dubai as a viral symptom stemming from recession of the global economy, explaining that Dubai fell victim to an economic crisis, not a stock market crisis.

He attributed the detrimental spike in Dubai’s economy to flamboyant and irresponsible acceptance of an influx of investment loans in a vacuumed world when the economy was already losing its grip.

Gargash ended his speech by stating that the entire Arab world should find pearls of wisdom in this crisis and learn lessons.

Encouraging attendees that nothing is impossible with hard work and dedication, Gargash said, “In the end, Dubai is an obscure village that in a few short years rose to world-class stature.”

LAU MUN participants had the prime chance to meet a figure that embodies humbleness and success, such as Gargash, a notable member of the Arab business community.

After his presentation, a brief Q&A session was held where students asked Gargash questions.

A small reception in honor of Gargash was held afterwards, and it was attended by the ambassador of the UAE in Lebanon, Rahma Hussein Rahma El Zaadieh, the LAU MUN Steering Committee headed by Dr. Jabbra, and the upper secretariat.

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