< Previous20 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S ABDULLA AL KHALIFA Group CEO, Qatar National Bank (QNB) and chairman, QNB Capital QATAR AHMED ABDELAAL Group CEO, Mashreq UAE PRINCE ALWALEED BIN TALAL AL SAUD Chairman, Kingdom Holding KSA BANKING AND FINANCE BANKING AND FINANCE DIVERSIFIED With a diverse business and finance career that spans over two decades, Al Khalifa has held numerous posts within the QNB Banking Group, including chief business officer and executive general manager. Since 2018, he has served as a board member for Ooredoo, Qatar’s multinational telecommunications company. His experience spans across risk management, finance, business, mergers and acquisitions (M&A), sales and marketing and strategic planning. Al Khalifa joined the company in March 1996 and in 2007 was appointed to the role of general manager for QNB’s Corporate Banking Group where he led QNB towards expansion. He is also the chairman of QNB Capi- tal, a regional market leader in invest- ment banking services and financial advisory established in 2008. With headquarters in Doha and European offices in Paris and London, QNB is the region’s largest lender by assets. For the first half of the year, QNB posted $1.92bn in net profit – a 4 percent rise from the same period last year. A hmed Abdelaal brings extensive experience across banking products and services that covers a wide range of disciplines. With over two decades of experience in senior roles across international and regional banks, his expertise include trade finance, contracting and real estate finance, payment and cash management and investment bank- ing, project finance, advisory, Islamic banking, portfolio management, as well as experience with structured trade, global market products and working capital solutions. Aligning with the growth of finan- cial technology (fintech) in the region, Mashreq launched Cashew, a ‘buy now, pay later’ service provider in KSA and UAE and is considered the first investment of its kind by a traditional bank in a fintech company in the MENA region. Based in Riyadh, Kingdom Hold- ing Company (KHC) was founded in 1980 by Prince Alwaleed. Publicly traded since 2007, KHC has a diversified portfolio of global brands and high performance regional investments. Just some of these include mobility solutions, digi- tal technology and social media (Lyft, Careem, JD.com, Twitter), media and entertainment (NewsCorp, 21st Century Fox, Euro Disney, Time Warner), and finance (Citigroup, Banque Saudi Fransi). KHC also has interests in luxury hotels and hospital- ity management, including the Plaza Hotel in New York and London’s Savoy Hotel. Global hotel brands include the Fairmont Raffles, Moven- pick, Swissotel and Accor, while in KSA, real estate interests include the Kingdom Tower in Riyadh and invest- ments in petrochemicals with Tasnee. $898m Mashreq’s operating income in the fi rst half of 2022arabianbusiness.com 21 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / $735m Dubai Islamic Bank’s reported profi t for the fi rst half of the year – up 45 percent compared to the same period last year q The fi rst six months have already seen new gross fi nancing and sukuk investments to the tune of AED33bn, and normal repayments and early settlements aside, we are left with AED13bn of growth, which is remarkable achievement” BANKING AND FINANCE Widely recognised as a leading voice in finance and Islamic banking, Dr. Adnan Chilwan has played a signifi- cant role in advancing the role and reach of Sharia finance in society and its potential within the financial markets. Backed by an extensive banking career that spans over two decades, Chilwan is leading the Dubai Islamic Bank’s (DIB) vision to establish Islamic banking and finance as an inclusive global norm – rather than being considered an alternative, niche financial sector. As far as Chil- wan is concerned, the inherent benefits of Islamic finance should be available to all – irrespective of background or beliefs. That journey’s social and economic impact has so far seen DIB build assets in excess of $80bn and achieve a market capitalisation of over $9bn. Much of this success comes from enabling a diverse and inclusive workforce empowered by ongoing career and skills development – DIB now employs 10,000 employees across a network of branches in the UAE and in the expanding international oper- ations in Asia, the Middle East and Africa. He is a passionate advocate for developing digital skills across the bank’s workforce and in developing Islamic digital solutions. Under his leadership, DIB has embarked on a new journey, with a renewed purpose towards ensur- ing the bank’s customer services and digital solutions are aligned with the vast opportunities inherent within the digital economy, supporting entre- preneurialism, SME development and financial inclusion. Chilwan also represents DIB across numerous boards, including strate- gic investments and subsidiaries, serving as chairman of DIB Bank Kenya and as board member with Noor Bank. He also held the role of the president commissioner at PT Bank Panin Dubai Syariah TBK. Pioneering global Islamic fi nance In August 2021, DIB announced that it is increasing its foreign ownership limit from 25 to 40 percent, with the biggest shareholder, the Investment Corporation of Dubai (ICD) holding 28 percent share. Recognised as a formi- dable force in Islamic finance and one of the most progressive institutions in the world today, DIB is also at the forefront of taking on the enormous challenge of adapting emerging technologies – such as fintech, blockchain and artificial intelligence (AI) – into its Sharia operations, taking great pains to ensure that its business model remains flexible enough to be agile whilst simultaneously ensuring Sharia-compliance. DR. ADNAN CHILWAN Group CEO, Dubai Islamic Bank (DIB) UAE22 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S 14% The increase in Egypt ’s urban areas by 2030, according to the government ’s future plans AHMED SHALABY President and CEO, Tatweer Misr EGYPT q Our vision is to create sustainable, smart and happy communities as sustainable solutions lie at the heart of Tatweer Misr’s design and planning” REAL ESTATE In addition to his C-suite role, Shalaby is also a founding member of Tatweer Misr’s board of directors, a position he has held since the middle of 2014. Drawing on his extensive plan- ning and business management experience, he supervises the day-to-day management of the company, including the business development and the strategic planning for Tatweer Misr’s projects. Offering an innovative outlook on inte- grated living to strongly emerge as a leading real estate developer in Egypt, Tatweer Misr is fulfilling the rising demand on mixed-use projects. In addition to his work, Shalaby is also a professor of architecture and urban develop- ment at the Department of Architectural Engi- neering at the Cairo University. In addition to this, he is also a former visiting assistant professor at the Department of City and Regional Plan- ning at Cornell University, USA. He also holds prestigious positions, some of which include co-chair of the real estate committee at the American Chamber of Commerce in Egypt (AmCham), vice chairman of the Real Estate Export Council and board member at the Egyptian-Emirati Business Council. Bringing a wealth of experience Prior to the inception of Tatweer Misr, Shalaby was at El Mostakbal for Urban Development, where he held the position of advisor to the chairman. During his time with El Mostakbal, Shalaby played an integral role in the develop- ment of Mostakbal City, which is one of the largest mixed-use urban devel- opments in the New Cairo area. An established engineer in the field of architecture and urban develop- ment, he is also a real estate expert in his own right. Shalaby has over 25 years of experience as an architecture consultant in addition to developing and managing real estate portfolios in Egypt. Moreover, he has held prestigious positions whilst working with Al Fawares Holding, where he was responsible for real estate investments. He also worked for the Egyptian Ministry of Hous- ing, Utilities and Urban Communities as a technical advisor to the minister. He holds a Bachelor’s Degree in Architectural Engineering, which he received in 1993. Later, he went on to pursue his studies and subsequently received his master’s degree in 1998. He earned his doctorate in Urban Plan- ning in 2003 through a joint programme between Cairo University and Cornell University.arabianbusiness.com 23 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 100,000 The number of businesses and major corporations supported by the Tap Payments platform ALI ABULHASAN Co-founder and CEO, Tap Payments KUWAIT q If you wait too long for the perfect moment, the perfect moment will pass you by” TECHNOLOGY L aunched as a solution to the challenges of online payments across MENA, Ali Abul- hasan’s career trajectory was first initiated in payments within the oil and gas sector, which while working with banks and other financial institutions over time, further fuelled his passion for payments. Subsequently, Abulhasan became increasingly involved with the telecom industry, which pushed him to become consumer-centric and technology-driven concerning innovative forms of payment experiences. As the co-founder and CEO of Tap Payments, Abulhasan has played a significant role in disrupting the fintech industry within the region. By developing a single Application Program- ming Interface (API) to access all of the payment methods that consumers highly adopt within the region, Tap connected the disconnected payment landscape across MENA. Tap enabled organisations to accept and collect online payments with an API that standardised local and international payment schemes, and gateways, and switches from the complex and lengthy integrations of the pre-Tap era, to the post-Tap era of simplicity. Today, Tap serves over 100,000 businesses of all sizes, ranging from small home businesses to large corporations across various industries including retail, food, insurance, airlines, telecom, and many others. For over 10 years, Abulhasan’s interest in payments and technology has grown exponentially into an ongoing road of discovery. With a keen interest in art and design, he is also passionate about product development. About Tap Payments In May 2014, Tap was launched in Kuwait, bringing with it an entirely new way of doing business online in the Middle East. Streamlining the process and making things simple, businesses could now finally bill, accept, receive, and make payments online in a faster and smoother way. Tap Payments has transformed online payments for businesses and consumers in the MENA region by developing powerful, but convenient and easy-to-use payment tools to simplify what is a typically complicated process. Today, Tap powers over 100,000 businesses of all sizes, across nine countries and is growing at a phenomenal pace. It has also played a key role in securing hundreds of thousands of transactions easily and efficiently for consumers all across the globe.24 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S ENERGY In 1982, Nasser joined Saudi Aramco after he earned a Bachelor’s Degree in Petroleum Engineering from King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran. He held several assignments from November 1982 to February 1991 with the drilling and reser- voir management department and the produc- tion engineering department. Subsequently, from March 1991 to May 1997, he was responsible for multiple supervisory positions in the engineering and producing departments. In 1999, he completed the Saudi Aramco management development seminar in Washing- ton, DC and later completed the Saudi Aramco global business programme in 2000, followed with the senior executive programme at Colum- bia University in 2002. Active in many organisations devoted to education, R&D, entrepreneurship and technology development, Nasser leads the largest provider of crude oil to global markets. Also a member of the compa- ny’s board of directors, his career span across four decades, during which he has held several leadership positions. This included his role as senior vice president of upstream in which he steered Saudi Aramco’s largest capital investment programme in its integrated oil and gas portfolio. The company is now building on its upstream leadership position with key investments and joint venture partnerships in the kingdom by bolstering its presence in the downstream and chemicals segments of the petroleum value chain. He is also heading Saudi Aramco’s ambitions to create cleaner energy and products through investments in promising technologies, including renewable energy applications, next-generation fuel engine interfaces, crude oil-to-chemicals processes and entrepreneurial startups aimed at cleaner energy solutions. Nasser is also leading industry-wide efforts to minimise greenhouse gas emissions, such as the Oil and Gas Climate Initiative (OGCI). Championing the future for Saudi youth Actively engaged in the advancement of people through education and training, Nasser champions the advancement and development of Saudi youth and is an active supporter of the company’s Young Leader’s Advisory Board (YLAB), a programme which connects Saudi Aramco leadership with its young professionals. He is also a member of the international advisory board of the KFUPM; the World Economic Forum’s International Business Council (IBC), the board of trustees of the King Abdullah University of Science and Technology (KAUST) and the JP Morgan International Council. $48.49bn The net profi t posted by Saudi Aramco in the second quarter of the year AMIN NASSER President and CEO, Saudi Aramco KSA q We are making progress on ramping up our maximum sustainable capacity from 12 million to 13 million bpd by 2027, and potentially increasing gas production by more than 50 percent by 2030” arabianbusiness.com 25 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 40 million The area in square metres of land Sumou Holding is developing AYEDH F. AL QAHTANI Chairman, Sumou Holding KSA q Sumou Holding began in the Eastern Region and has extended to Makkah, in addition to many other projects in other regions of the kingdom, to achieve harmony with KSA’s National Vision 2030” REAL ESTATE Following in the footsteps of his father, Sheikh Farhan Bin Al Mubarak Al Qahtani, one of KSA’s most successful businessmen who, during the 1950s, had founded one of the leading contracting companies in the kingdom at that time, Al Qahtani has steered Sumou Holding to become one of KSA’s most robust property firms, with projects in Riyadh, Makkah, Jeddah, Khobar and Dammam. He received his Bachelor’s Degree in Industrial Management from King Fahd University of Petroleum and Minerals (KFUPM). As chairman of the board of directors of the Sumou Holding, Al Qahtani is also the chair- man of the board of the Saudi-listed Sumou Real Estate Company. He is also the chairman of the board of Musharaka Financial Company (licensed by the Capital Market Authority), chairman of the board of trustees of the Farhan Mubarak Al Qahtani Society for Community Service, chairman of the endowments committee in the Asharqia Chamber, chairman of the Board of Empowerment of Endowments Association, in addition to chairman of the real estate committee of the Asharqia Chamber, a role he held from 2010 to 2012. Al Qahtani is also a partner and one of the founders of Al Oula Real Estate Development Holding Company; member of the board of directors of Arriyadh Development Company from 2010 to 2015; member of the board of directors of Asharqia Chamber from 2006 to 2009, in addition to holding the role of chairman and member of several society associations in Saudi Arabia. About Sumou Holding Company A stellar institutional investor, Sumou Holding is steering growth in key business sectors strategically vital for the local and global economy. Launched officially in 2008, the firm merges together local market knowl- edge, capital, and international expertise and is facilitating business growth in regional markets. Aligned with the processes and frameworks on par with those of first- rate global investment institutions, Sumou Holding encompasses the resources, scale, expertise and international partnerships and the firm works on creating turnkey solutions and bespoke answers to market needs. Corporate social responsibility (CSR) also plays a role as Sumou Holding prioritises business opportunities that can both generate revenue while benefitting society. Today, Sumou Holding is engaged in several sectors, including logistics, real estate and construction.26 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S AMINA AL ROSTAMANI Board member and director, AW Rostamani Group (AWR) UAE EAMAN AL ROUDHAN CEO, Zain Kuwait KUWAIT ELDA CHOUCAIR CEO, Omnicom Media Group MENA UAE DIVERSIFIEDTECHNOLOGYMEDIA In her current role, Al Rostamani oversees its group HR, IT and strat- egy functions and also heads up the family company’s real estate division, AWR Properties. She is active across several boards in other sectors, some of which include her roles as non-ex- ecutive board member at HSBC Bank Middle East, Al Jalila Foundation, Sandooq Al Watan, Dubai Chambers, Dubai Media Council and Ajman University’s board of trustees; and is also an advisory board member at Tharawat Family Business Forum. She has a doctorate in Engineering from George Washington University, USA, and is an expert on wireless technolo- gies with her work published in several journals and publications. A l Roudhan has over two decades of executive management and leadership experience within Zain Kuwait as well as several Zain Group affiliates. Prior to her new appointment, she was the chief regu- latory officer of Zain Group. She embarked upon her career at Zain in Kuwait, where she launched the first mobile prepaid service in the country. She is a member of several interna- tional standards and regulatory affairs bodies including the GSMA Arab World Regional Interest Group and the GSMA Chief Regulatory Officer Group (CROG). After assuming her current role in 2015, she steered key projects in Zain, most notably the launch of 5G wireless technology in 2019, where Zain became the first operator to offer 5G technol- ogy in the GCC. The telco serves 51.7 million customers across the Middle East. In her role, Choucair is tasked with retooling and reconfiguring the services and talent of the agency for optimum performance in the new world. She has championed multiple projects to accelerate the group’s transformation, including technolog- ical developments in automation, predictive modelling and ecommerce, and has engineered the training and upskilling curricula required for its agencies and people to thrive. A 15-year veteran at the group, she has held senior account positions at OMD and led PHD Media MENA for more than 10 years. Under her leadership, PHD went on to become a key player in the media and marketing commu- nications sector in the region, and in 2016 was named CEO of PHD Media MENA. At Omnicom Media Group, she was promoted from COO in 2019 to her current role in 2021. PHD Media operates more than 100 offices in 74 countries, and contin- ues to create remarkable campaigns that lead to growth, capitalising on the power of data and technology. q At AW Rostamani, we enrich the lives of our customers, employees, partners and stakeholders” $1.4bn Zain Group’s consolidated revenue in the second quarter of 2022arabianbusiness.com 27 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 6,500 The number of personnel Eltizam Asset Management Group employs across fi ve countries CHRIS ROBERTS Group CEO, Eltizam Asset Management Group UAE q Eltizam is future- proofi ng itself for the next generation of business” REAL ESTATE A corporate visionary driven by innovation and transformation, Roberts encompasses over 25 years of extensive professional experience from both the UK and the Middle East, across several distinguished companies including Sodexo and Aramark, amongst others. In each of his roles with these notable organisations, Roberts has developed systems, change management strategies and mechanisms for individual and global clients in both operations and business development, while cultivating a corporate ecosys- tem that fosters evolvement. Since joining Eltizam in 2014, Roberts has taken the company from a single site-based owners’ association and facilities management company into the region’s largest physical asset management company, operating in five countries with eight distinct, but complementary, companies. Optimising market trends for corporate expansion Following Eltizam’s successful Vision 21 transformation plan launched in 2016, Roberts saw the need for Eltizam’s next phase. This included anticipating shifting market trends while developing impactful and actionable solutions. Aligning both the perpetually fluctuating requirements of Eltizam’s stakehold- ers with corporate digital transformations, he established four holding compa- nies under the group as a result of its expansion strategy and vision, known as EAMG Holdings, iFM Holdings, iREC Holdings and EAST-O Holdings. In addition to expansion across the MENA region, Roberts has steered several successful acquisitions, some of which include OrionTEK Innovations, Fixis Technical Services, Kingfield Owners Association Management and Falcon Investments (the affiliate partner that trades as Colliers in the MENA region). In 2021, Eltizam Group expanded its operations into Egypt, KSA and Qatar. Additionally, LITE Developments was launched to become the region’s premier bespoke development manager. As part of his leadership strategy, Roberts inspires his teams to be enter- prising while empowering employees at all levels across the corporate ecosys- tem. This fuelled the launch of ‘Get Wonky’, Eltizam’s organisational and business enhancement culture. The corporate culture’s framework is divided into four pillars that represent the key focus areas of the group: Environmen- tal, Social and Governance (ESG), Happiness, People Development and Tech- nology. These pillars provide the anchor that reinforces both the company’s actions and business practices, paving the way for a thriving organisation with a solid corporate culture. Looking forward, Roberts is spearheading an aggres- sive technology-driven international expansion strategy aimed at deploying Eltizam’s portfolio of business lines outside of the MENA region.28 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S ELHAM MAHFOUZ CEO, Commercial Bank of Kuwait KUWAIT FAHAD AL HASSAWI CEO, du UAE FATIMA AL JABER COO, Al Jaber Group UAE BANKING AND FINANCE TECHNOLOGYCONSTRUCTION Initiating her banking career around 35 years ago as a credit analyst, Mahfouz has worked with numerous Kuwaiti financial institu- tions in top executive positions, including acting general manager of international banking, and in Decem- ber 2010 was promoted general manager of international banking. She took on the responsibility of deputy CEO in April 2012 and was later appointed as CEO in 2014. CBK was established in June 1960 and today is one of Kuwait’s largest finan- cial institutions operating through corporate and retail banking, treasury and investment banking segments. Supporting key construction and infrastructure projects in Kuwait, CBK reported a net profit of $72.4m for the first quarter, mainly attrib- uted to an improved business envi- ronment in the emirate. An expert in commercial strategy and organisational develop- ment with over 20 years of experience, Al Hassawi first embarked upon his career with du as executive vice president of human resources. Four years later, he assumed the role of chief human resources and shared services officer until 2013 when he was promoted to chief commercial officer. He then served as the deputy CEO since October 2017 and in 2021, he transitioned to the role of CEO of du. Prior to joining the telco, he worked with Emirates for seven years across a range of roles, including performance development manager, senior indus- trial engineer, manager of national recruitment and development, and later as VP of human resources. These experiences helped him build a foun- dation of skills which greatly bene- fited the telco. In her current role at her family’s business since 2007, Al Jaber has presided over the success of multi- ple key UAE-based construction projects. Previously, she had held several roles in the Abu Dhabi munic- ipal government and in 2009, Al Jaber went on to become the first Emirati woman to be elected to the board of directors at the Abu Dhabi Chamber of Commerce. An engineer by training, she oversees approximately $5bn in assets and 50,000 workers and her key responsibilities include logistics, over- seeing the management of contract- ing, trading, industrial, investment and real estate subsidiaries. Apart from serving Al Jaber Group’s board as an executive director, she is also on the boards of Abu Dhabi Takaful Company and the National Investor. The group operates more than 300 cranes in its inventory as well as the UAE’s largest construction equipment fleet, with more than 10,000 units managed under one umbrella. Its maritime segment include 25 ships with worldwide transport capability. $145m The net profi t posted by Commercial Bank of Kuwait in the fi rst half of 2022 26.2% The rise du’s net profi t for the second quarter of the yeararabianbusiness.com 29 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 1999 The year in which W Group was set up. It has been a frontrunner in bringing digitisation to the limelight and uplifting consumer brand experiences HABIB WEHBI Chairman and CEO, W Ventures Holding UAE q We strive to yield an experiential ecosystem prominence. This forward-thinking mission is delivered through global, innovative solutions combined with AI, machine learning and advanced data technologies” MEDIA Twenty seven years ago, Habib Wehbi, a visionary leader driven by a vision of revolutionising the current advertising industry into a top-notch experiential, futuris- tic ecosystem, dared to expand his first busi- ness into W Ventures, an investment holding currently capitalising on technology while stamping its footprint in numerous industries, including out-of-home media and technology, manufacturing and startups – three key fields run by its chief support subsidiaries: W Group, BMI, and W Invest, respectively. Since the outset in 1999, W Group has been a frontrunner in bringing digitisation to the limelight and uplifting consumer brand expe- riences while repurposing their existing media assets into avant-garde landmarks, creating impact for more than 800 partners and clients. It doesn’t stop here. W Group is aligned with the Dubai government’s vision to transform the emirate into the best city to live in, and so it joined forces with its subsid- iaries, Hypermedia and DigitAll, to be a key contributor to this goal by focalising on media, innovation and experience tools. Ingraining experience As the powerhouse for all brands and businesses, the company strives to yield an experiential ecosystem prominence. This forward-thinking mission is successfully delivered through global, innovative solutions combined with artificial intelligence, machine learning and advanced data technologies to preeminent malls, metro stations and outdoor loca- tions via Hypermedia and DigitAll; the latter being a pioneering digital signage consultancy startup since 2014 and maturing today into a creative solutions company begetting technologies for digital out-of-home (DOOH) interactions. W Group now spearheads the management and investment in DOOH media and technologies, driving the digital trans- formation in the region. By implementing the newest technologies to harness the power of brand-consumer experience through data meas- urement, programmatic DOOH, and smart solutions, the company has remodelled Hypermedia’s largest DOOH media network in the UAE. With an inclination towards startups and technology investments, Wehbi founded W Invest Holding as an angel investment company, scout- ing and investing regionally while also forging ahead on a vast, global scale. Brightfox, Pinned, Enhance, Mozart, and Netlify are just a few of W Invest’s most recent investment accomplishments.Next >