< Previous100 Inspiring Leaders 2024 90 100 Inspiring Leaders — September 2024 Ghada Othman Alrumayan excels in fostering sustainable relationships across governmental and private sectors, thanks to a wealth of experience spanning more than a decade in the communications sector. Her leadership style enhances organisational reputation as well as its outreach. Alrumayan is group chief marketing and communications officer for ROSHN Group, which is owned by Saudi’s Public Investment Fund (PIF) and is the leading real estate developer in the nation. It is known for creating integrated living environments that feature accessible green spaces, sports amenities, and cycling infrastructure. Through the use of advanced technology and sustainable practices, ROSHN is spearheading large-scale construction projects across KSA. Their ambitious plans include the development of over 400,000 homes, 1,000 educational facilities, and 700 places of worship by 2030, covering a land area exceeding 200 million sq m. ROSHN has set a precedent with the successful early delivery of the SEDRA community in Riyadh, spanning 35 million sq m, followed by the completion of the ALAROUS community in Jeddah, covering 4 million sq m. Currently, they are working on various projects, including the innovative MARAFY canal project, which will connect residential areas in Jeddah to the Red Sea via an 11km canal. Since she joined in 2021, Alrumayan’s media strategy has expertly navigated the complexities of a large-scale company, utilising a diversified approach that leverages both established and emerging media channels to promote ROSHN’s new sustainable, quality-focused communities. Alrumayan’s biggest contributions to the group have included utilising varied marketing tools and techniques to increase ROSHN brand awareness, positioning the group as a leading developer in the region. Another key component of her strategy involves utilising ROSHN’s prominent sponsorship activities to elevate brand recognition and achieve the company’s communication objectives. Notable partnerships include KSA’s inaugural Formula 1 events in Jeddah and the Saudi Pro League. CSR initiatives Moreover, Alrumayan’s commitment to community made her instrumental in the creation of YUHYEEK, ROSHN’s pioneering CSR programme, which seeks to restore homes across the kingdom to support underprivileged families. Prior to her work at ROSHN, Alrumayan held the role of senior vice president of Public Relations, Communications, and Events at Riyad Bank, where she spearheaded the development and execution of the bank’s communication strategies, solidifying its reputation for expertise and transparency among stakeholders. Her tenure at the Olayan Group involved managing strategic partnerships and the supply chain department, while her role at Olayan Financing Co. focussed on corporate communications. Alrumayan’s diverse career in communications additionally includes roles such as corporate communications manager at Saudi Hollandi Bank, marketing manager at Kempinski Hotels in Riyadh, director of Social Development at Atheeb Group, and roles at Etihad Atheeb Telecom Co. and King Faisal Specialist Hospital and Research Centre. Throughout her professional journey, she has demonstrated a deep commitment to building strong relationships and driving impactful communication strategies across various organisations. Ghada Othman Alrumayan Group Chief Marketing and Communications Officer ROSHN Group Real estate 47 ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 90ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9028/08/2024 12:1028/08/2024 12:10arabianbusiness.com91 100 Inspiring Leaders 2024 Zubin Karkaria is the founder and CEO of VFS Global Group, the world’s largest outsourcing and technology services specialist for governments and diplomatic missions worldwide. VFS Global, head- quartered in Dubai, UAE, and Zurich, Switzerland, is a portfolio company of Blackstone, the world’s largest alter- native asset manager. The Swiss-based Kuoni and Hugento- bler Foundation and EQT, a global investment organisation, headquartered in Stockholm, Sweden, hold minority stakes in VFS Global. With a rich experience of more than 30 years in the travel and tourism business and in developing a truly global busi- ness, Karkaria has taken-on and overcome several challenges successfully. An economic value creator, his success lies in his sharp entrepreneurial sense combined with organisation building skills. Leader in visa, passport and consular services Zubin’s greatest achievement has been the conceptualisation and the outstanding success of VFS Global – the world’s leading outsourced visa, passport and consu- lar ser vices specialist. He was primarily responsible for launching the business in 2001 to serve one client government with three application centres in Western India, and growing it into a world leader in its space serving 68 client governments with close to 3,400 application centres across 153 coun- tries (as on 30 June 2024). The company has handled over 292 million applications since its inception. In 2002, VFS Global entered a partner- ship with Emirates to manage UAE visa services for its passengers across 180 coun- tries worldwide, its first foray into business with the UAE. This was closely followed by the start of visa services in the UAE in 2007, a network that currently serves 40 client governments through 40 visa centres. Recognising the growing potential of the Middle East as a market, and Dubai as a global business epicentre, Zubin established VFS Global’s headquarters in the UAE in 2013. However, Karkaria’s connection with the UAE dates back to the 1990s when as a Tour Operating business leader in India he played an important role in promoting the UAE as a tourism destination in partnership with Emirates. In December 2016 Zubin was appointed ‘Chevalier dans l’Ordre National du Mérite’ (Knight of the National Order of Merit) by the President of the French Republic, François Hollande. This exclusive distinction recognised his exem- plar y contributions of over the past three decades in supporting the development of travel and tourism to France. In June 2022, Zubin was appointed as the Goodwill Ambassador of Zanzibar to support the government’s tour- ism and trade development vision, keeping his extensive experience in tourism development and his experience as a global entrepreneur. Zubin Karkaria Founder and CEO VFS Global Group Outsourcing and technology services 48 ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 91ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9128/08/2024 12:1028/08/2024 12:10100 Inspiring Leaders 2024 92 100 Inspiring Leaders — September 2024 Ziad El Chaar is reshaping the real estate industry in more ways than one. In his role as CEO of DarGlobal, he is leading the company on its mission to satisfy global demand for second homes. Meanwhile, as chairman at PropGenius, he’s helping to transform the sector through innovative AI-powered solutions. He’s also vice chairman at Quara Holding, which has established some of the most prominent names in today’s real estate and finance worlds, including Dar Al Arkan, Khair Capital, and Quara Finance. DarGlobal is unique in that it focuses on creating luxury second and vacation homes that are both great to live in, but also offer a solid investment for internationally mobile, affluent customers. World-class architects curate these homes, which are modelled by renowned design and fashion icons and built with the highest quality materials. They are also located in some of the world’s most desirable destinations, from downtown Dubai to the Costa del Sol in southern Spain. El Chaar has been clear in his goal for this role: to position DarGlobal among the top 50 global developers within the next decade. With more than 20 years of experience in real estate development and investment, plus a decade in corporate governance, board affairs and regulatory compliance, as well as a Master’s Degree in business administration from the American University in Beirut, El Chaar is well positioned to achieve this goal within, if not before, this timeline. While El Chaar joined DarGlobal in 2019, the company was established in 2017 as the international development subsidiary of the Dar Al Arkan Real Estate Development Company, which is listed on the Saudi Stock Exchange in 2007. Today, DarGlobal has a successful listing on the London Stock Exchange and more than $6bn in projects under development since inception. The company has delivered more than 15,000 residential units, 500,000 square metres of commercial space and boasts $8.6bn in assets. It has also signed partnerships with leading luxury brands, such as Missoni, Versace, W Hotels and Elie Saab. In June 2023, the company launched Tierra Viva in Marbella, its first project in continental Europe, in partnership with Lamborghini. Property portfolio DarGlobal is also focusing on hospitality assets, with the aim of acquiring or building hotels to sell after three to five years of operation, once the property’s revenue streams stabilise. Last year, it announced it is developing a bespoke project in the Maldives with global fashion powerhouse Dolce&Gabbana. In June 2024, it unveiled $500m Trump International Oman, a five-star, 140-key hotel complex set to open in December 2028 at its AIDA project, one of the world’s largest premium mixed- used real estate developments. Before DarGlobal, El Chaar held prestigious roles such as CEO at Emaar (International, Ventures, and Blockchain), CEO at Dar Al Arkan, and managing director at DAMAC Properties. In every role, El Chaar has always endeavoured to work hard, deliver excellence, drive innovation and provide solid results. Ziad El Chaar CEO DarGlobal Real estate 49 ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 92ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9228/08/2024 12:1028/08/2024 12:10arabianbusiness.com 93 100 Inspiring Leaders 2024 50 Back in 2012, Bijan Alizadeh developed an interest in Bitcoin that has since led him to become one of the founding fathers of the crypto industry in the Middle East. He has spent more than a decade pushing the boundaries of what was once thought impossible. Now, as the co-founder and group CEO of Phoenix Group, a pioneering crypto mining and infrastructure company based in the UAE, Alizadeh’s journey exemplifies the perseverance and vision required to establish new industries. With a background in finance but intrigued by the revolu- tionary new technology underlying digital currencies, Alizadeh educated himself on blockchain and decentralised networks. This led to him co-founding Phoenix Group in 2017 , with the goal of establishing one of the region’s first cryptocurrency mining facilities. Its growth has been exponential, transforming from an initial capital of approximately $272,000 into a multi-billion-dollar corporation. As Bitcoin’s price surged, Phoenix expanded aggressively by securing equipment and power supplies. Today, it encompasses 23 business that operate 725 megawatts across nine mining facilities in the US, Canada, CIS, and the UAE. Its joint venture with the Abu Dhabi government saw them build a $2m crypto mining farm that is now consid- ered the biggest of its kind in the world. That is until its project with Muscat’s Green Data City to develop a $300m, 150-megawatt crypto mining farm in Oman comes to fruition by the second quarter of 2025. Additionally, Phoenix Group is the official distributor in the Middle East of Bitmain and MicroBT, and in 2022 it invested in Norway’s Bitzero, a future-ready data centre company with extensive experience in Bitcoin mining and the high-performance computing sector. Phoenix also acquired a 25 percent stake in the social networking and content monetization platform, Lyvely. Sustainability remains a cornerstone of Phoenix’s ethos under Alizadeh’s leadership. The company’s facilities source over 60 percent of electricity from renewable sources like solar panels and hydroelectric dams. Through strategic partnerships in the UAE, Phoenix secures competitively priced renewable energy supplies to power its growing facilities. Regional collaboration Alizadeh is also active and working closely with regional author- ities to help craft balanced frameworks and regulation to drive the industry forward. This collaborative approach proved instru- mental in Phoenix establishing regional headquarters in Abu Dhabi Global Market (ADGM), the financial free zone. Beyond Phoenix, Alizadeh’s regulatory advocacy extends through initi- atives like UAE’s first fully regulated crypto exchange, M2, which Phoenix founded with key Abu Dhabi stakeholders. Now, Alizadeh wants to pass on his knowledge and foster the next generation of talent. In 2021, Alizadeh founded Cypher Capital, a $100m venture firm focusing on early-stage invest- ments in crypto, blockchain, and digital asset projects. Through this, his goal is to actively mentor regional innovators, hoping to incubate local startups and help turn them into global house- hold names rooted in the Middle East. Bijan Alizadeh Co-founder and Group CEO/ General Partner Phoenix Group/Cypher Capital Cryptocurrency ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 93ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9328/08/2024 12:1028/08/2024 12:10100 Inspiring Leaders 2024 94 100 Inspiring Leaders — September 2024 For over three decades, Othman Ibrahim has been a key figure in the ever-evolving and challenging field of supply solutions and consultancy services within the petroleum exploration and production industry. As Vice Chairman and Group CEO of Rawabi Holding, Ibrahim has steered the company’s growth into a leading conglomerate in Saudi Arabia and one of the Middle East’s fastest-growing enterprises. Beyond his role as CEO, Ibrahim serves as Executive Vice Chairman of Rawabi Holding’s Board of Directors, Chairman of the Board’s Investment Committee, and Vice Chairman of Rawabi Energy Company, a key subsidiary of the group. Recognising the rising demand for sustainable, high- end projects, Ibrahim spearheaded the establishment of Magnom Properties, taking on the role of Vice Chairman. Magnom Properties is positioned to play a pivotal role in the region’s pursuit of net zero goals, with a vision of creating dynamic environments and developments that align with the evolving lifestyles and aspirations of businesses, industries, and future generations. The company is set to develop high-value commercial, residential, and lifestyle projects across the kingdom and the broader region. Sustainable project Just last month, Magnom reached a groundbreaking milestone with its upcoming Forbes International Tower, becoming the first tower globally to officially register for the International Living Future Institute (ILFI) Zero Carbon Certification. This accomplishment brings Magnom Properties closer to realising its vision of a lifecycle net-negative carbon footprint for the futuristic Forbes International Tower, set to be developed in Saudi Arabia, the UAE, and Egypt. The ILFI’s Zero Carbon Certification, a prestigious and third-party verified standard, is renowned for its rigorous sustainability criteria, which assess both the operational and embodied carbon emissions of a built project. By pursuing this certification, the Forbes International Tower, designed by Adrian Smith + Gordon Gill Architecture (AS+GG Architecture), solidifies its status as the world’s first net-zero carbon tower. The project will incorporate state-of-the-art design, construction, and operational technologies. The tower will be fully independent of conventional power grids, relying entirely on clean energy sources. Specifically, clean hydrogen will supply 75percent of the tower’s energy needs, while its photovoltaic-integrated design will harness solar energy to provide the remaining 25 percent. Ibrahim expressed his pride in this achievement, stating: “The registration of Forbes International Tower for the ILFI Zero Carbon Certification marks a significant milestone in the real estate sector, reflecting the outstanding work of our global partners and team. At Rawabi Holding, we draw inspiration from the natural environment unique to our region, and this is mirrored in our projects and services. Beyond using renewable materials and sustainable energy, we are committed to leveraging advanced technologies and innovations to establish best-in-class sustainability standards for the Forbes International Tower.” This initiative not only underscores Magnom Properties’ dedication to sustainability but also positions the Forbes International Tower as a leader in the global shift towards environmentally responsible construction and design. Othman Ibrahim Vice Chairman and Group CEO Rawabi Holding Diversified 51 ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 94ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9430/08/2024 13:0430/08/2024 13:04arabianbusiness.com 95 100 Inspiring Leaders 2024 Arobust career at Al Rajhi Bank has ensured Waleed Al Mogbel is widely recognised among the region’s most notable CEOs. With experience spanning over 26 years in the financial and banking sector, Al Mogbel has demonstrated multifaceted expertise in areas such as auditing, tax, financial management, as well as stra- tegic consultation. His tenure at Al Rajhi Bank has been marked by noteworthy achievements and leadership roles, reflecting his strategic acumen and operational excellence. Al Mogbel has assumed several key executive positions within the organisation, including serving as the chief financial officer in 2010, where he oversaw financial planning and perfor- mance management to drive sustainable growth. Subsequently, he became chief operations and information technology officer in 2014, which positioned him at the crossroads of operational efficiency and technological innovation, spearheading transform- ative initiatives to enhance the bank’s digital capabilities. He was later appointed in 2019 as the deputy CEO by the bank. During this time, he has been instrumental in leading and executing numerous transformational projects that have propelled Al Rajhi Bank towards new heights of success and competitiveness in the dynamic financial industry. Al Rajhi Bank, firmly rooted in Islamic banking prin- ciples and values and headquar tered in Riyadh, serves as a leader in harmonising modern financial requirements with Sharia compliance. In a strategic move in March 2024, under Al Mogbel’s guidance, Al Rajhi Bank collaborated with flynas to introduce an exclusive co-branded credit card. This joint venture aims to provide customers with unique benefits and rewards tailored to their travel and lifestyle needs. Funding growth In May 2024, Al Rajhi Bank also announced the signing of a supplier financing contract worth $433m with Zain Saudi Arabia, the predominant provider of communication and digital services in the kingdom. This financ- ing agreement aims to suppor t Zain in expanding its fifth-generation (5G) network and upgrading its infrastructure to cater to the business sector. Through this investment, Zain Saudi Arabia plans to substantially enhance its qualitative investments in its 5G network nationwide, enriching its portfolio with cutting- edge digital solutions and applications. Al Mogbel’s sphere of influence extends beyond the bank, as he also serves as a board member at Al Rajhi Takaful, contributing his insights to drive strategic decisions in the insurance sector. Additionally, his role as the chairman of Emkan Finance and Neoleap reflects his commitment to fostering innovation and growth in diverse financial domains. In 2022, Al Mogbel was also appointed chairman of business outsourcing company Tanfeeth, where he lends his expertise to push forward the firm’s mission to pioneer auto- mated and AI-driven operations solutions. Al Mogbel grad- uated in 1999 from King Saud University with a Bachelor’s Degree in accounting, later attaining a Master’s Degree in finance from the University of Southampton, UK in 2003. He then went on to achieve a PhD in auditing from Cardiff University in 2006. Waleed Al Mogbel Managing Director, CEO, and Board Member Al Rajhi Bank Banking 52 ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 95ABE_100 Most Inspiring Leaders Supplement September 2024_70-95_entries 27-52_13359807.indd 9528/08/2024 12:1028/08/2024 12:1096 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 Naser Taher’s leadership is a testa- ment to the power of resilience and strategic vision. With over 36 years of unmatched exper tise in the global financial and commercial sectors, his determination and foresight have consistently driven him to the forefront of the industry. As the founder and chairman of MultiB- ank Group, established in California in 2005, he has led the company to become one of the largest financial derivatives groups in the world, with a paid-up capital exceeding $322m. Additionally, the group is the most regulated globally by 15 financial regulators across five continents. Under his stewardship, MultiBank has grown its presence to 100 countries, serving more than 1,000,000 insti- tutional and retail clients with a daily turnover surpassing $12.1bn. The group provides an array of brokerage services and asset management solutions, and its award-winning trading platforms offer a diverse range of products, including forex, metals, shares, commodities, indices, and digital assets. Throughout his career, Taher has worked with several prom- inent financial institutions, including BNP Paribas, Barclays, UBS, Merrill Lynch, and Credit Suisse. His acumen extends across forex, electronic banking systems, e-commerce, and raising finance, earning him significant respect within the financial world. Array of accomplishments In addition to founding the MultiBank Group, his accom- plishments include building a 180-kilometer, six-lane high- way between Jordan and Iraq, establishing the first private airline company in Eastern Europe, and securing the largest banking syndicate in the history of Ireland at that time. Furthermore, as Chief Fleet Manager, he oversaw a substan- tial fleet of 23 ships, including three of the largest vessels globally in the foodstuffs industry. He also made submissions to the UK House of Lords in relation to Uniform Customs and Practice for Documentary Credits (UCP 600) in Commercial Law. In 2005, Taher was appointed as the Head of the Irish Stock Exchange Development Projects. By 2008, he had taken on the role of Vice President at the Chinese Banking and Entrepreneur Association. His contributions were further recognized in 2013 when he was named Honorary Chief Financial Advisor to the Chinese Government of Tian- jin. In 2016, he was also appointed Senior Advisor to the Chinese Central Financial Government. In 2019, Taher was honoured with the prestigious Le Fonti Award for CEO of the Year in the Financial Services sector (Asia and Europe). In 2023, he was once again recognised by Le Fonti, receiving the award for Chairman of the Year in Dubai. Beyond his numerous business achievements, Taher is a visionary leader with a deep commitment to innovation. He has introduced cutting-edge trading technologies and is working towards establishing the first interbank and prime brokerage in the Eastern Hemisphere, with the ultimate goal of positioning MultiBank as the largest financial group worldwide. Naser Taher Founder and Chairman MutiBank Group Finance 53 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 96ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 9628/08/2024 12:3328/08/2024 12:33arabianbusiness.com97 100 Inspiring Leaders 2024 The preservation and protection of his family’s legacy is a cornerstone of Easa Al Gurg’s approach to his business, ensuring its growth for future generations and reflecting a commitment to continuous improvement and forward-thinking strategies. A dynamic leader, Al Gurg is from the third generation of the leading business family and commenced his tenure at Easa Saleh Al Gurg Group (ESAG) in August 2010 as the general manager of Scientechnic, the group’s flagship entity. Before joining ESAG, he held the position of assistant manager within the Accounting & Finance department at Siemens. Assuming the role of group CEO since May 2021, he has championed a strategic approach centred on perfor- mance management and positive leadership principles, aiming to drive sustainable revenue and profitability. ESAG stands as one of the UAE’s premier family busi- nesses, boasting a diverse portfolio of over 30 companies. Established in 1960, the group has forged strategic partner- ships with industry-leading brands across a multitude of sectors. Having initially focused on trading prestigious consumer brands like Grundig and Siemens, ESAG has evolved into a dynamic conglomerate with interests spanning retail, building materials, industrial, and real estate sectors. Notable joint ventures include Al Gurg Unilever, Siemens, Al Gurg Fosroc, Al Gurg Smollan, Akzo Nobel Decorative Paints, Siemens Healthcare, Siemens Mobility, as well as Links Insurance Brokers. With its robust engineering and manufacturing capabilities, the group provides comprehensive technical consultancy, project management, and construction services to diverse industries including construction, oil and gas, power, and other infrastructure sectors. Within the consumer segment, ESAG collabo- rates with global brands focusing on both resi- dential and commercial markets. Group transformation Under Al Gurg’s strategic direction, ESAG maintains a steadfast commitment to organic expansion initiatives while consistently providing innovative turnkey solutions for high-impact projects spanning various indus- try sectors. Renowned for his unwavering dedication to excellence, Al Gurg advocates for empower- ment and accountability within the organisation, instilling a culture of ownership. Notably, he has been instrumental in defining the stra- tegic trajectory of Easa Saleh Al Gurg Commercial and Industrial Group during his tenure as CEO. By leveraging enduring partnerships and adept leadership teams, he has emphasised key growth catalysts, including innovative customer engagement strategies, fostering a culture of shared accountability among staff, and a proactive approach to meeting evolving regional and global market demands. Over the years, ESAG has played an integral role in the nation’s advancement and ongoing prosperity, contributing to key transformative initiatives. With Al Gurg’s emphasis on responsibility, ethical practices, and strategic diversifica- tion, he offers a roadmap for family businesses aiming to build and sustain their legacies in a rapidly evolving economic landscape. Furthermore, Al Gurg also serves as a board member of the Al Gurg Charity Foundation, a philanthropic organisa- tion established under royal decree in October 2010. The foundation plays a role in supporting charitable initiatives such as housing projects, orphanages, elderly care facilities, academic institutions, student scholarships, and medical assistance programmes for those in need. Easa Al Gurg Group CEO Easa Saleh Al Gurg Group (ESAG) Diversified 54 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 97ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 9728/08/2024 12:3328/08/2024 12:3398 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 With a wide sphere of influence within the UAE, Essa Kazim has been playing an instrumental role in shaping the financial landscape since the 1980s. Kazim embarked on his professional career trajectory as a senior analyst in the Research and Statistics Department of the UAE Central Bank in 1988, later transitioning to the Dubai Department of Economic Devel- opment. In 1993, he was appointed in the role of director of Planning and Development. Progressing further, he served as the direc- tor-general of Dubai Financial Market from 1999 to 2006, subsequently taking on the role of the chairman from 2007 to 2021. In 2013, he was appointed governor of Dubai International Financial Centre (DIFC), propelling the emirate’s financial free zone to greater success, while again helping to shape the entire ecosystem. Regional financial hub Under Kazim’s guidance, DIFC has continued to strengthen its position as the premier global financial centre for the MEASA region, achieving strong results so far in 2024 amid expansion plans. The hub added 820 companies in the first half of the year and firms operating in the financial technology and innovation sectors rose by a third year-on-year to 1,081. Total assets under management across the financial district rose to over $700bn. The centre created 4,647 new jobs between January and June, increasing its total workforce to 43,787, a 12 percent increase. Last year, the combined annual revenues expanded at their fastest pace since inception, nearing $354m, a significant 23 percent surge compared to 2022. It attracted a record number of companies in 2023, up 26 percent annually and contributing to a 45 percent jump in its net profit for the year. Operating profit reached $234m, indicating a 27 percent increase. Illustrating the robust financial status of DIFC, total assets amounted to $4.9bn, up by 18 percent. Recent additions of prominent global entities include Alliance Bernstein, Blue Owl Capital, Revolut, Theia Invest- ments, Baring Asset Management, and more, further augmenting DIFC’s financial landscape. Apart from his present role, Kazim holds several key posi- tions, including the chairmanship of Borse Dubai, deputy chairmanship of the Supreme Legislation Committee in Dubai, and membership on the Securities and Exchange Higher Committee and Dubai Supreme Fiscal Committee. Educational background Kazim has been awarded an honorary doctorate from Coe College and holds a Master’s Degree in Economics from the University of Iowa (USA), a Master’s Degree in Total Qual- ity Management from the University of Wollongong (UAE), and a Bachelor’s Degree from Coe College. He has also actively participated in numerous official advisory commit- tees and boards, both regionally and globally. Moreover, he is a member of the Higher Board of Direc- tors of the Dubai International Financial Centre (DIFC); chairman of the DIFC Authority Board of Directors; chair- man of the DIFC Investments Board of Directors; and a board member of Nasdaq Dubai, Free Zones Council, and Nasdaq. Additionally, he holds a notable position on e&’s board and is involved in the field of education. Essa Kazim Governor Dubai International Financial Centre (DIFC) Finance 55 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 98ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 9828/08/2024 12:3328/08/2024 12:33arabianbusiness.com 99 100 Inspiring Leaders 2024 Bader Al Kharafi joined Zain Group’s board of direc- tors in 2011, was appointed vice chairman in 2014, and became group CEO in 2017, where he now oversees 7,900 staff who serve 47.8 million active customers. Appointed as vice chairman of Zain KSA in Octo- ber 2015, Al Kharafi’s journey within the Zain ecosystem has been characterised by a series of key positions that underscore his visionary leadership. Notably, he has served as vice chair- man of Zain Group, Kuwait since February 2014, and assumed the mantle of group CEO in March 2017, following his significant contribution as a board member. Al Kharafi has led Zain into a robust period of financial performance. The group’s generated consolidated revenue hit $1.6bn in Q2 2024, up 4 percent compared to the same period last year, while it reached $3.1bn for H1 2024. Mean- while, normalised net income growth soared 55 percent to reach $170m, reflecting an earnings per share of 12 Kuwaiti fils. Kuwait, KSA, Bahrain and Jordan showed impressive 5G revenue growth, while fintech services saw a 24 percent year- on-year revenue increase. Zain further reported enterprise revenue rose by 9 percent, bolstered by deals and the integration of ZainTECH’s complete acquisition of Specialised Technical Services Company (STS), one of the largest digital transformation providers in the region and Jordan. Moreover, Zain maintained the region’s highest A- rating on the CDP Score Report–Climate Change 2023 for the third year in a row, highlighting its commitment to environmental sustainability and responsible business practices. Wide responsibilities Beyond his tenure at Zain, Al Kharafi’s exper- tise and leadership extend to a diverse portfo- lio of roles and responsibilities. He also serves as a board member of Atheer Telecommuni- cations Iraq (Zain Iraq) and as the managing director of Al Khatem Telecommunications Company, an Iraq-based joint-stock entity since September 2013. Moreover, Al Kharafi’s leadership is noteworthy as the vice-chairman of Zain Sudan. On 4 March 2024, the Board of Directors of Gulf Bank unan- imously elected Al Kharafi as the new chairman. Additionally, Al Kharafi has been on Gulf Bank’s board since March 2012. His influence encompasses diverse indus- tries and initiatives beyond the telecommunications sector, serving as chairman, vice chairman and board member of several reputable entities, including the Executive Committee and the Nomination and Remuneration Committee of the Kuwait Stock Exchange Company, playing a crucial role in shaping the financial landscape in Kuwait. In 2016, he also founded BNK Holding, his personal holding company head- quartered in Kuwait, overseeing and managing a portfolio of businesses spanning multiple industries. He also serves as the director of the group executive committee at Mohammed Abdulmohsin Al Kharafi & Sons since 2003 and as the chairman of National Investments Company, Kuwait. Meanwhile, Al Kharafi’s commitment to social development and youth empowerment is reflected in his role as the vice chairman of the Board of Injaz, Kuwait, a non-profit organisation dedicated to fostering the growth and development of youth in the region. Bader Al Kharafi Vice Chairman and Group CEO Zain Group Telecoms 56 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 99ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 9928/08/2024 12:3328/08/2024 12:33Next >