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Liquidity CEO Ron Daniel says the UAE’s performance remains strong despite war risks, as Israeli firms expand after the normalization of the Abraham Accords.
Following the Abraham Accords, which normalized diplomatic relations between Israel and several Arab countries by 2020, more than 600 Israeli companies have started operating in the United Arab Emirates (UAE). Among them: Liquidity, an AI-driven direct fintech lender with a multi-billion dollar portfolio.
Liquidity’s largest office is now in Abu Dhabi, and its second largest in Tel Aviv. Liquidity manager Ron Daniel spoke to him Global Finance about recent regional developments amid US and Israeli strikes on Iran.
Global Finance: How do you handle this situation?
Ron Daniel: Well, I have a lot of people down in the UAE and a lot of people in Tel Aviv. In total, that’s more than half of my staff in war zones right now. We face this situation every day. We continue to do business, but in both areas, a lot of work is done at home. Our first concern is the safety of our people. If someone wants to move to their country, or outside of the big cities, we finance that, but most of the team has been able to cope.
From the UAE, only a few of our employees have returned to their country of origin. Our office is open in Abu Dhabi, but most of our employees have chosen to work from home. We empower our employees to make decisions that are right for them and their families. The company is operating as usual; It’s a stressful time, but we hope it ends soon.
GF: Iran targets US-Israeli interests in the region. How does that affect Liquidity?
Daniel: Yes, just before the war started, Iranian hackers published a direct threat via Telegram to Israeli companies. That meant we had to take extra steps. We contracted with a private security company to ensure our office is safe and secure. Our staff are also able to contact them directly and get advice on any security related concerns. Thankfully, we never had to use it because the Emirate authorities have always done a good job in providing clear information and strong security.
GF: What happened to the attacks on data centers in Bahrain and the UAE affect your business?
Daniel: The situation does not affect our business, because our business is global, with assets worth billions of dollars under management and capital invested in more than 45 verticals in 35 countries. Our research and development facilities in Abu Dhabi are not affected. I believe the UAE remains an excellent location for data centers because it has affordable power and enough land and I don’t see the security issue as a long-term threat. The UAE intercepts most of the incoming drones and missiles. This region, in my opinion, is still a good place for investment.
GF: The UAE’s biggest selling point has always been its status as a safe place to invest. Is that still true?
Daniel: I still think it’s a safe place. When you look at the world, there really is no place that is 100% safe. Some investors have left the region, and I think it’s a mistake. It shows a lack of understanding of the strategic advantage of this region. At Liquidity, we don’t do politics. We do business, and as a business, the UAE has always been and will always be a very important center for us. It sits between East and West, and geographically, it’s right with everyone, which is good for business. The security situation is a bit challenging, of course, but I believe it is temporary and will resolve itself relatively quickly. I chose to be in the UAE back in 2020 because it was our strategic location, and the current situation doesn’t change anything for me.
GF: You have been a strong advocate for normalization of relations between Israel and the UAE since 2020 – how do you see things developing?
Daniel: I believe this region is headed for a bright future in the long run. I think, given the basics, it’s a good place for business and good for people. Overall, the situation does not affect my feelings about the adaptation process.
