ArabianBusiness / Special issue #22/03S March 20212020 was a year that took away power from many of us. But as Viktor Frankl wrote in Search for Meaning, how we respond to a situation, not the situation itself, is where true power lies. And so there are a number of factors behind our Top 100 World’s Most Powerful Arabs 2021 list. Is power defi ned by assets and net worth? Or is it determined by a person’s instrumental role in a ground-breaking undertaking, as played by the UAE Space Agency’s Sarah Al Amiri in the UAE’s successful Hope Probe Mars mission? Should we consider it in terms of sheer human scale – those running conglomerates with thousands of employees – or does making headlines for attracting foreign investment count more? And does innovation equal power? The coronavirus pandemic is still here – having upended so many industries, should we even be judging power by the old rules? From Khalid Elgibali, Mastercard’s man on a mission to drive MENA’s fi nancial inclusion, to Farida Al Hosani, the women responsible for coordinating vital coronavirus communication to the public amidst a pandemic, to Majid Al Futtaim, head of one of the Middle East’s most prominent, storied corporate empires, this selection of individuals have all had a signifi cant impact on life in the Middle East. Many of them have featured in previous Arabian Business rankings, while others are making their debut. All have done something remarkable in their fi eld worth celebrating. The Arab Power List 2021 www.arabianbusiness.comSUBSCRIBE NOW +971 4444 3000 www.itp.com/subscription arabianbusiness#arabianbusinessarabianbusinessINDEP TH NEWS S U B S CRIBE NOW www.itp.com/subscriptions +971 4 4443000 AD VER TISEMENT EXPER T VIEWS EXCLU SIVE INTERVIEWS PUBLISHED BY AND © 2021 ITP MEDIA GROUP FZ-LLC. 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PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Offices in KSA, UAE, UK, US, and INDIA ITP MEDIA GROUP CEO Ali Akawi MANAGING DIRECTOR Alex Reeve EDITORIAL EDITOR-IN-CHIEF Rob Corder, rob.corder@itp.com EDITORIAL DIRECTOR Eddie Taylor, +971 4 444 3320, eddie.taylor@itp.com EDITOR Scott Armstrong, +971 4 444 3513, scott.armstrong@itp.com CHIEF REPORTER Gavin Gibbon, +971 4 444 3845, gavin.gibbon@itp.com REPORTER Nabila Rahal, +971 4 444 3466, nabila.rahal@itp.com SUB EDITOR Edward Liamzon, +971 4 444 3474, edward.liamzon@itp.com ARABIANBUSINESS.COM EDITOR Andy Sambidge, andy.sambidge@os.itp.com UK EDITOR Alicia Buller INDIA EDITOR James Mathew DESIGN ART DIRECTOR Adrian Luca STUDIO STUDIO MANAGER Abuzar Samo SENIOR IMAGE EDITOR Emmalyn Robles SENIOR PHOTOGRAPHER Efraim Evidor STAFF PHOTOGRAPHERS Aasiya Jagadeesh, Ajith Narendra, Fritz John Asuro PRODUCTION & DISTRIBUTION GROUP PRODUCTION & DISTRIBUTION DIRECTOR Kyle Smith PRODUCTION MANAGER Basel Al Kassem PRODUCTION COORDINATOR Mahendra Pawar EVENTS & MARKETING DIRECTOR OF AWARDS & MARKETING Daniel Fewtrell, +971 4 444 3684, daniel fewtrell@itp.com CIRCULATION DISTRIBUTION & WAREHOUSE MANAGER Praveen Nair ADVERTISING GROUP COMMERCIAL DIRECTOR Amit Chopra, +971 4 444 3463, amit.chopra@itp.com SENIOR SALES MANAGER Pankaj Sharma, +971 4 444 3510, pankaj.sharma@itp.com SALES MANAGER Farah Kanaan, +971 4 444 3175, farah.kanaan@itp.com ITP GROUP CEO Ali Akawi CFO Toby Jay Spencer-Davies CORPORATE WEBSITE itp.com CIRCULATION CUSTOMER SERVICE +971 4 444 3000 WEB arabianbusiness.comarabianbusiness.com 5 THE AR AB POWER LIS T / 2021 Ahmed Abou Hashima Founder, Egyptian Steel, Egyptian Cement, Egyptian Contracting and Egyptian Media Group INDUSTRY Abdallah Massaad Chairman and CEO, RAK Ceramics INDUSTRY Abdalla Sultan Al Owais Chairman, Rawabi Emirates Group, Sharjah Chamber of Commerce & Industry and Sharjah Expo Centre INDUSTRY AHMED ABOU HASHIMA is a self -made Egyptian entrepreneur whose ambition is clearly limitless. He started working in the steel industry in 1996 and now leads one of the biggest industrial companies in the Middle East. In 2011, he took a risk and invested $1bn into Egyptian Steel, which eventually paid off. Egyptian Steel produces high-quality steel using efficient, innovative techniques, state-of-the-art and eco-friendly technologies, which enabled the group to rank among the world’s largest green steel producers after the full operation of all of its four plants. ABDALLAH MASSAAD IS ALSO a member of the Board of Directors of RAK Power Pvt Ltd and R.A.K. Security and Services (Pvt) Ltd, subsidiary companies of RAK Ceramics (Bangladesh) Ltd. Massaad has led RAK Ceramics PJSC as Group CEO since June 2012. He is extremely knowledgeable in the fields of ceramics and industrial manufacturing, and is instrumental in helping companies engage in the forward and backward integration of the ceramics supply chain. His tenure with RAK Ceramics began in 2004. ABDUL AZIZ AL GHURAIR IS the CEO of Mashreq Bank and member of the board of directors of Abdullah Al Ghurair Group of Companies, one of the biggest and most successful business groups in the Middle East, with operations spanning more than 20 countries and business roots stretching back half a century. Al Ghurair has held various positions both in government and business, which have had impact both regionally and internationally. His experience in banking and in the business world has made him one of the most well-known personalities in the Arab world. In 2012, he was appointed as chairman of the UAE Banking Federation. ABDALLA SULTAN AL OWAIS IS the chairman of the Sharjah Chamber of Commerce and Industry and also chairman of the Expo Centre Sharjah since May 2014. He also been vice chairman of the Federation of UAE Chambers of Commerce and Industry since December 2014. His career started when he graduated from the United Arab Emirates University with a Bachelor of Business Management in 1990. 39% The rise in RAK Ceramics’ net profi t for the fourth quarter of 2020 Abdul Aziz Al Ghurair CEO, Mashreq BANKING ABDULAZIZ AL SOWAILIM LEADS the EY MENA management team and is actively involved in all aspects of the organisation’s operations throughout the region. Al Sowailim is also a member of the Board of Management of EY’s Europe, Middle East, India and Africa area, which is EY’s largest geographic area worldwide. His diverse knowledge includes delivering a range of integrated services across assurance, tax and business advisory service lines to a significant number of organisations. Abdulaziz Al Sowailim Chairman and Regional Managing Partner, EY MENA FINANCE6 Vol. 22/03S, March 2021 THE AR AB POWER LIS T / 2021 Ali Rashid Lootah Board member, DP World DIVERSIFIED Amina Al Rostamani Board Member and Director, AW Rostamani Group DIVERSIFIED Ahmed Bin Rakkad Al Ameri Chairman, Sharjah Book Authority CULTURE AND SOCIETY Ahmed Fahour MD and CEO, Latitude Financial Services FINANCE Aisha Bin Bishr Director General, Smart Dubai TECHNOLOGY Amin Nasser President and CEO, Saudi Aramco ENERGY ALI RASHID LOOTAH WAS chairman of Nakheel from 2010 to 2020, when he joined the Dubai World board. Lootah has 30 years of federal government experi- ence. He handled several infrastructure projects, government facilities build- ings and housing projects across the northern emirates of the UAE. He’s also vice chairman of Mashreq Bank and on the boards of Osool, Oman Insurance and Al Ghurair Investment. DR AMINA AL ROSTAMANI IS THE Chief Operating Officer of the Group, overseeing Group HR, Group IT and Group Strategy Functions. She also oversees the Group Properties division, being the CEO of AWR Properties. In addition, Al Rostamani is a Non-Executive Board member at HSBC Bank Middle East, Non-Executive Board member at Sandooq Al Watan and Non-Executive Board Member at Al Jalila Foundation. DR. AISHA BIN BISHR PRESIDES over the Smart Dubai Office, a powerful government entity tasked with Dubai’s citywide smart transformation. Dr. Bin Bishr also leads the creation of ‘The Smart City Index’ – the first-ever benchmark for smart city implementation across the globe in cooperation with ITU and the UN. The influential doctor serves as a member of the World Economic Forum’s Global Future Councils and the World Happiness Council. THE HEAD OF STATE OIL GIANT Saudi Aramco is overseeing the company’s plan to become the world’s leading integrated energy and chemicals company. Nasser recently earmarked $500bn to invest over the next 10 years, including $160bn for natural gas developments and $100bn for chemicals projects. He is also an advocate for an efficient, accessible, and world-class supply chain ecosystem that includes SMEs to support Saudi Aramco’s growing procurement needs. AHMED BIN RAKKAD AL AMERI has been leading the Sharjah Book Authority (SBA) since its inception in 2014, the entity that organises the Sharjah International Book Fair and Sharjah Children’s Reading Festival annually. SBA’s flagship initiative, the Sharjah Publishing City Free Zone, is the world’s first of its kind dedicated exclusively to the publishing and printing business. The Sharjah Libraries and several other cultural initiatives also operate under the SBA. Under Al Ameri’s leadership, Sharjah International Book Fair has risen to becoming one of the largest book fairs in the world. FAHOUR WAS APPOINTED Managing Director and CEO of Latitude Financial Services in October 2018. Throughout his 30-year career, Ahmed has served in senior executive roles across banking and financial services, management consulting and postal services, including as MD and CEO of Australia Post, MD and CEO of NAB’s Australian operations, CEO of Citigroup Alternative Investments in New York and as a Partner at BCG. He is also an active member of Australia’s Muslim community, where he has served as an Australian Special Envoy to the Organisation of Islamic Cooperation and was a founder of the Islamic Museum of Australia.arabianbusiness.com 7 THE AR AB POWER LIS T / 2021 Areej Mohsin Haider Darwish Chairperson of Automotive, Construction Equipment & Renewable Energy (ACERE) cluster of Mohsin Haider Darwish LLC INDUSTRY AREEJ MOHSIN HAIDER Darwish leads a renowned and leading business house in the region that was listed in the Forbes Top 100 Arab Family Businesses in Middle East 2020. The foundation of the firm was laid in 1974 by the late Mohsin Haider Darwish, who steered it to meet the chal- lenges of a nation on its path to rapid development and also to measure up to the aspirations of its people. MHD LLC has diverse busi- ness presence and varied interests in trading, contract- ing and projects. It has brought reputed brands to Oman like Land Rover, Jaguar, McLaren, Volvo, MG, Ford, Ashok Leyland, Huawei, Hitachi, KDK and DAIKIN. Having graduated from Sultan Qaboos University with a Bachelor in Computer Science, she started her career with Petroleum Development Oman as a Programmer. She joined the family busi- ness in 1994 and under the guidance, support and motiva- tion of her father, she gradually moved up the ladder. Having started at the grassroots level and involved in every division, she grew to understand the business processes minutely. This also prepared her to tackle the challenges of a business house and empowered her to take business decisions early on. Continuing their legacy and leading the ACERE cluster, Areej Darwish is an outstanding example of successful women’s empow- erment and an inspiration to all industry peers. Her leadership, profes- sional management, ability to spot opportunities has steered the organisation to the heights of success. For Areej, success in itself isn’t a destination, but a continuous journey towards excellence. Her vision for MHD LLC group is to see the organisa- tion flourish by looking for new opportunities, strength- ening relations with their business partners, expand- ing their footprint into new sectors by building new rela- tionships and partnerships while continually keeping a keen eye on the financial performance and helping young Omanis to grow and actualise their potential. q EVERY LEADER SHOULD POSSESS PASSION AND DETERMINATION. PASSION TOWARDS THEIR BUSINESS AND DETERMINATION TO PURSUE THEIR VISION AND ACHIEVE THE GOALS THEY HAVE SET” 1994 The year in which Areej Mohsin Haider Darwish joined the family business to oversee its internal audit and computer systems divisions She believes in continu- ing the quest for excellence by preparing themselves to keep pace with the fast-paced business environment and embracing opportunities that unfold in the process. As a leader, she leads by example and directs the organ- isation in a way that makes it more coherent and cohesive. She follows a philosophy of leading with optimism and positivity as a positive culture is the key to sustainable busi- ness success. She values her employees and considers them their invaluable assets. Collabora- tive discussion, listening and analysing the issues is the key. Areej has been the recipient of numerous awards over the years, which validate her posi- tion as an exceptional achiever and a strong role model for other women. These include being named as Forbes 2021 The Middle East’s Power Busi- nesswomen; Outstanding Busi- nesswoman of the Year – Oman 2020; International Investor Award; Forbes 2020 The Middle East’s 100 Powerful Business- women; Women Leadership & Excellence Awards (WLEA) for Excellence in Business 2020; Women Leadership & Excel- lence Awards (WLEA) for Most Inspirational Woman 2020, among many others. Her son, Mohsin Hani Al Bahrani, has joined the family business as CEO of ACERE (Automotive, Construction Equipment and Renewable Energy) unit of MHD LLC and is redefining the business with his strategies and innovative partnerships.8 Vol. 22/03S, March 2021 THE AR AB POWER LIS T / 2021 Ayman Jamal Managing Partner/Producer, Barajoun Entertainment MEDIA Badr Jafar CEO, Crescent Enterprises ENERGY Ashraf El Afi fi President, IMEA, Henkel INDUSTRY Sheikh Ahmed Bin Saeed Al Maktoum Chairman and CEO, Emirates Group AVIATION Ayman Hariri Founder, Vero TECHNOLOGY Badr Al Olama Chairman, Strata; Executive Director of Mubadala Aerospace, Mubadala Investment Company INVESTMENT AYMAN JAMAL IS THE FOUNDER and a producer for Barajoun Entertainment, a leading animation and visual effects studio based in Dubai. His passion for storytelling inspired him to direct his first full animation feature film, Bilal, which tells a story about faith, hope and courage. Bilal drew enormous applause and gained recognition and awards worldwide since its release in 2016. The film won “Best Inspiring Movie” on Animation Day at Cannes. BADR JAFAR IS CEO OF CRESCENT Enterprises, president of Crescent Petroleum, chairman of Gas Cities and chairman of Pearl Petroleum. Jafar has extensively explored social enterprise and championed initiatives that focus on enabling businesses to give back to society. In 2010, he founded the Pearl Initiative, a non-profit venture in cooperation with the UN Office for Partnerships, to promote transparency within corporations across the Gulf. He also serves as Chairman of Gulftainer. LEBANESE BUSINESSMAN Ayman Hariri is taking on Facebook with his ad-free social app Vero, which he founded in 2015 and now boasts five million users. He accused Facebook and similar social platforms of “building addiction into their design” by mining people’s data, affecting their privacy and mental health. A graduate of Georgetown University, Hariri cut his teeth working in the family business, which was once one of Saudi Arabia’s largest construction companies. AS THE FORMER CEO OF STRATA, Badr was instrumental in positioning the company as a global tier-one supplier to both Airbus and Boeing, forging strong and value- adding partnerships with leading Original Equipment Manufacturers (OEMs). Al Olama has also played a key advisory role in the strategic development of Nibras Al Ain Aerospace Park, a joint initiative between Mubadala and Abu Dhabi Airports Company. ASHRAF EL AFIFI IS BOTH president of Henkel in India, Middle East and Africa, and regional head for Laundry & Home Care in Middle East/ Africa and Asia Pacific. He joined Henkel in Egypt in 1992 as a brand manager and then worked his way up within the organisation through various leadership roles on local, regional as well as global levels. In 2011, he became one of the top 30 executives in Henkel and the first to be promoted to this level from an emerging market. Since assuming the role of president in 2010, he has reinforced the company’s portfolio in the region and has always underpinned the mission of serving consumers and customers. HE’S THE MOST RECOGNISED name in Dubai’s aviation sector, having grown Emirates airline from just two aircrafts in 1985 to the largest carrier by international passengers, while simultaneously heading the Dubai Department of Civil Aviation (DCA), which oversees Dubai International Airport and Dubai Duty Free operations, among others. In addition, in his role as chairman of Dubai Airports, Sheikh Ahmed has been the force behind the rapid growth of Dubai International Airport, growing it into the busiest airport in the world.Next >