DUBAI: DIFC Innovation Hub, Julius Baer, and Euroclear have released a whitepaper exploring how technology is transforming wealth transfer, particularly in the Middle East, where an unprecedented $1 trillion (AED 3.67 trillion) generational shift is underway.
The Navigating the Future of Inheritance report highlights the urgency of modernising inheritance processes, especially as High Net Worth Individuals (HNWIs) in the UAE have grown their assets by 20% since 2022, reaching $700 billion.
Emerging technologies such as Artificial Intelligence, Smart Contracts, Distributed Ledger Technology, and Tokenisation present solutions to improve transparency, security, and efficiency in wealth transfer. However, only 24% of HNWIs currently have a full estate plan, exposing gaps in preparedness.
Over 53% of families cite inheritance planning as too complicated and time-consuming, underscoring the need for better collaboration between wealth managers, regulators, and service providers to streamline the process.
Mohammad Alblooshi, CEO of DIFC Innovation Hub, stated, “We stand on the brink of a historic generational wealth transfer in the Middle East. As wealth portfolios grow more complex with digital assets, this report marks a key step towards harnessing technology to shape a secure, efficient inheritance framework.”
Alireza Valizadeh, CEO of Julius Baer (Middle East) Ltd, highlighted the increasing role of blockchain and tokenisation in ensuring secure, transparent asset transfers, while Isabelle Delorme, Global Head of Product Strategy and Innovation at Euroclear, stressed the report’s role in guiding financial stakeholders toward a future-ready inheritance ecosystem.
With a massive wealth transition ahead, embracing digital solutions could be the key to securing the future of wealth management in the Middle East.
