< Previous60 Vol. 25/02, February 2024 SUNIL KAUSHAL CEO Standard Chartered Africa and Middle East (AME) BANKING 10 In addition to his current role, Kaushal is a member of Stand- ard Chartered’s Global Manage- ment Team, the highest execu- tive body within the bank. With over two decades of experience within the group and over 35 years in diverse banking markets across North Asia, Southeast Asia, South Asia, Middle East, and Africa, he has held senior roles throughout his career span encompassing wholesale, retail, SME banking, and country management. He holds a Bachelor of Commerce degree from Bombay University, India, and a post-graduate quali cation as a Chartered Accountant from the Institute of Chartered Accountants of India. Kaushal has also completed general management courses at Harvard Business School, INSEAD, Oxford University, and London Business School. Prior to his career with Standard Chartered, Kaushal was appointed in diverse positions in investment banking, corporate finance, commercial banking, and foreign exchange at NatWest Markets, SocGen-Crosby, and Ameri- can Express Bank in Mumbai, India. Within the bank, his previous roles include being the regional CEO of Standard Chartered South Asia and CEO of Standard Chartered India. He has also served as the head of Corporate Banking in the UAE, head of Originations and Client Coverage in Singapore, global head of Small and Medium Enterprises and New Ventures in Singapore, and CEO of Standard Chartered Bank in Taiwan. In March 2021, Kaushal joined MoneyTap, a lead- ing ntech company in India, as a global advisor. He also spearheaded the acceleration of Standard Char- tered’s digital transformation in the AME region, launching digital banks across nine key markets across Africa. The Bank also digitised its wealth management o ering and expanded accounts by 900,000. The successful establishment of these digital banks under his leadership serves as a testament to the bank’s expanding digital footprint in the region. About Standard Chartered AME With a presence in 52 markets and extending services to clients in an additional 64, Standard Chartered is guided by the brand promise #hereforgood and dedicated to driving commerce and prosperity through its diversity. As a super-connector international bank, Standard Chartered is deeply rooted in AME with an unrivalled presence across 18 markets. Notable milestones include enabling the region’s inaugural Receivables Financing Facility for Siemens in the UAE and launching the world’s rst transition Sukuk for Etihad. The bank acted as the sole green loan coordinator for Masdar and PT PJB on a project representing the largest oating solar photovoltaic asset under construction globally (excluding China) and as the sole sustainability coordinator for Majid Al Futtaim for the largest ever sustainability linked loan from a non-government related entity in MENA. In 2023, the bank maintained momentum with promis- ing rst-half results. Operating income reached $1.44bn, a 34 percent increase on a constant currency basis. In the UAE and the Middle East cluster, they achieved the highest half- yearly operating profit since 2015, reaching $653m, a 39 percent rise on a constant currency basis.arabianbusiness.com 61 Founder, owner and Chairman of the Board R.Evolution Group ALEX ZAGREBELNY REAL ESTATE 11 Zagrebelny stands at the forefront of one of the most cutting-edge companies in the luxury real estate sector. Operating in Latvia, Spain, Germany, and more recently, the UAE, his creative leadership, and strategic foresight have positioned the group in the high-end real estate market. Zagrebelny’s pioneering approach encompasses all aspects of the R.Evolution Group, blending attention to detail with a vision that incorporates the latest advancements in architecture, construction, sales, marketing, and company philosophy. With over 24 years of experience in real estate develop- ment, including two years in the UAE, Zagrebelny brings a wealth of expertise to the table. His leadership style is char- acterised by a commitment to pushing boundaries and exploring new possibilities. Steered by a pioneering spirit and strategic vision, he has been pivotal in the role of R. Evolution Group’s expansion and success. He also holds positions on several boards, including LEGEND. Jurmala; Lofts&Rosegold; Bulduru Investment; TAL Residence; Philosophers Residence; Villa Milia; Hoft; R.Evolution Nami; R.Evolution City GmbH; and R.Evolution Strategy. Zagrebelny earned a Master’s Degree in Finance and Credit from Riga Aviation University, Latvia, contribut- ing to the sustained growth and excellence of the group in the luxury real estate market. About R.Evolution With a legacy spanning over two decades, R.Evolution is now poised to make an indelible mark on Dubai’s skyline with their debut project, Eywa in Business Bay along the Dubai Water Canal. This collection of exclusive waterfront resi- dences spans 22,000 sq m with the project comprising 19-storey tower hosting 48 residences with two, three, four, and ve bedrooms. The smallest two-bedroom apartment spans 200 sq m, excluding the balcony. Each apartment features its own private jacuzzi, while the two penthouse levels boast individual swimming pools. Prioritising a new standard of sustainable and health-cen- tric living, the project aims for LEED Platinum, Well Platinum, and WiredScore Platinum certi cations. The lead concept and design architect are Open AD, while Brewer Smith Brewer Group (BSBG) takes on the role of executive architect and lead design consultants. Christie’s International Real Estate Dubai are the exclusive real estate broker for Eywa. Inspired by the sacred Tree of Life, Eywa’s architecture is a testament to the deep connection with nature it seeks to foster. Eywa epitomises a unique lifestyle rooted in the compelling concept of ‘Wild luxury,’ helping to empower residents to forge an authentic connection with themselves and their surroundings. Eywa’s architecture showcases open round columns and intertwining branch and trunk elements, echoing the symbol- ism of the Banyan tree. It merges the timeless design principles of Vastu Shastra with cutting-edge technologies, aligning the building’s energies to foster an environment that supports well-being and encapsulates the promise of modern living. Scheduled for completion by 2026, Eywa will serve as a gateway to extraordinary lifestyle experiences in the heart of Dubai.62 Vol. 25/02, February 2024 MAHDI AMJAD Founder and Executive Chairman OMNIYAT REAL ESTATE 12 Mahdi Amjad embarked on a journey in 2005 to create a real estate company that would revolutionise architectural norms and rede ne traditional standards. From OMNIYAT’s early days, Amjad saw Dubai’s potential as a magnet for ultra-high net worth individuals and global citizens. He aimed to craft a new kind of ultra-luxury living space that utilised design to enhance the human experience on mental, physical, and spiritual levels. Eighteen years on, Amjad’s commitment to craftsman- ship and design has been instrumental in shaping Dubai’s extravagant living space sector. However, it was his foresight in recognising Dubai’s potential as a global hub that truly underpinned OMNIYAT’s vision, steered by Amjad’s initial vision of contributing to the transformation of Dubai into a destination that would draw the world’s most inspired discerning elites. This approach enabled him to collaborate with world-renowned architects, designers, and operators and in 2005, The OPUS was developed with Dame Zaha Hadid followed by prestigious partnerships with Foster + Partners, Dorchester Collection, and Gilles & Boissier, among others. Under his leadership, OMNIYAT has launched remarka- ble projects like One at Palm Jumeirah and AVA at Palm Jumeirah, along with exclusive luxury destinations such as the ORLA Collection, including ORLA and ORLA In nity. He envisioned an urban waterfront-living destination in Marasi Bay Marina, featuring The Lana Hotel and Residences and sister projects VELA and VELA VIENTO. These developments have rede ned the concept of living and positioned Dubai as a cultural and architectural beacon. His entrepreneurial approach and foresight go beyond traditional real estate development, focusing on quality over quantity and the profound impact of exceptional craftsmanship. arabianbusiness.com 63 About OMNIYAT Founded in 2005, OMNIYAT has revolutionised Dubai’s luxury real estate landscape, positioning the city as an emerging cultural and architectural hub. Boasting a port- folio valued at $10bn across three destinations and 18 prop- erties, the brand delivers on the promise of making the extraordinary a reality through crafted and distinguished architectural masterpieces. By mastering “The Art of Eleva- tion” and merging ultra-luxury with curated living, it deliv- ers bespoke designs and experiences encasing residential, hospitality, retail and o ce spaces. Having introduced the ultra-luxury property segment to Dubai ahead of the surge in demand seen for it today, OMNIYAT is a leader and pioneer in this niche category. A step through the threshold of an OMNIYAT masterpiece often exceeds expectations, with the common link that ties each of them together being not only the luxurious spaces and amenities they individually offer, but the collective experience they provide to those seeking a life of ease, comfort and tranquillity. OMNIYAT extends the art of elevation to the experience of space and beyond, bringing re ned and personalized experi- ences through the iconic hospitality brand, Dorchester Collec- tion — the operator of choice servicing each of OMNIYAT’s opulent residential and hospitality o erings. Through this longstanding partnership, the brand will be making strides in the world of hospitality, as it brings the world renowned oper- ator’s rst hotel in Asia and the Middle East, The Lana, and introduces the ultimate culinary journey curated by acclaimed chefs Jean Imbert, the 12 Michelin-star chef Martin Berasategui, and world pastry champion Angelo Musa. As a visionary in its space, OMNIYAT’s artistry is re ected in its mission to bring together place, purpose, design, inno- vation and service to forever transform what people expect from the luxury spaces they inhabit. Dubai continues to exceed global and local expectations with its architectural concepts and elevated living spaces, and we continue to craft symbols of timeless placemaking within it OMNIYAT boasts a portfolio valued at $10bn across three destinations and 18 properties64 Vol. 25/02, February 2024 SHAYNE NELSON Group CEO Emirates NBD BANKING 13 Shayne Nelson is a highly expe- rienced banker with over 30 years in the industry. He currently serves as Group CEO and Director of Emirates NBD, one of the largest banks in the UAE. Under Nelson’s leadership over the past eight years, Emirates NBD has signi cantly expanded its operations and digital capabilities. Prior to joining Emirates NBD, Nelson held several senior roles across Asia Paci c and the Middle East. He spent three years as CEO of Standard Chartered Private Bank in Singapore, where he also chaired the Islamic advi- sory board. Based in Dubai, Nelson acted as Regional CEO of Standard Chartered Bank for Middle East and North Africa from 2006 to 2010. Nelson’s other past positions include serving as CEO and Managing Director of Standard Chartered Bank Malaysia, Regional Head of Corporate and Institutional Banking Audit for Asia Paci c and India, and Regional Head of Credit for Hong Kong, China and Northeast Asia. He also led Corporate and Institutional Banking for Westpac Banking Corporation in Western Australia. At Emirates NBD, Nelson has overseen eight years of tremendous growth. The bank’s market capitalisation has risen from AED15.8bn to around AED90bn under his leader- ship. Assets have grown from AED308bn to AED700bn, with acquisitions like the successful $2.7bn purchase of DenizBank in Turkey. Emirates NBD maintains the largest market share in both UAE corporate and retail banking. In addition to his Group CEO role, Nelson sits on the boards of various Emirates NBD subsidiaries and associated companies. He is also a member of bodies such as the Inter- national Monetary Conference and Advisory Board of the University of Wollongong in Dubai. Emirates NBD continues innovating under Nelson’s direction, introducing new digital banking platforms and mobile apps that are industry-leading. The bank is transi- tioning to data-driven, digital operations while expanding its focus on ESG and renewable energy nance. Outside of work, Nelson enjoys spending time with his family, which includes his Malaysian wife Siti Mariana Abdul- lah and their two children. An avid golfer and sherman, Nelson also holds a world record catch. His three decades navigating Asia Paci c and Middle Eastern banking showcase his extensive experience and leadership driving corporate growth. Emirates NBD delivered a banner year in 2023, post- ing a 65 percent surge in annual pro ts to AED21.5bn. Quar- terly earnings in Q4 grew 3 percent year-over-year, re ect- ing solid business activity across the region.arabianbusiness.com 65 Governor DIFC ESSA KAZIM FINANCE 14 Kazim embarked on his professional career trajec- tory as a senior analyst in the Research and Statistics Department of the UAE Central Bank in 1988, later transitioning to the Dubai Depart- ment of Economic Development. In 1993, he was appointed in the role of director of Plan- ning and Development. Progressing further, he served as the director-general of Dubai Financial Market from 1999 to 2006, subsequently taking on the role of the chairman from 2007 to 2021. Apart from his present role, Kazim holds several key positions, 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. 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 Quality Management from the University of Wollongong (UAE), and a bachelor’s degree from Coe College. Recently, he has actively participated in numerous official advisory committees and boards, both regionally and globally. He is a member of the Higher Board of Directors of the Dubai International Financial Centre (DIFC); chairman of the DIFC Authority Board of Directors; chairman 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 eld of education. About DIFC Innovation Hub Located in a key nancial region, the DIFC Innovation Hub is a central ecosystem for over 700 innovation and technology rms. This ecosystem encompasses growth-stage tech companies, established innovators, digital labs, venture capital rms, regulatory bodies, and educational institutions. Its objective is to create economic value by promoting innovation, foster- ing entrepreneurship, and developing talent across a variety of sectors, with a focus on industries that are pivotal to future developments. The DIFC Innovation Hub is notable for hosting the rst and largest nancial technology accelerator in the Middle East, Africa, and South Asia (MEASA) region. It serves as a critical hub for FinTech, InsurTech, Reg-Tech, and Islamic FinTech startups seeking to engage with the region’s leading nancial service providers. The Hub o ers a unique prop- osition for startups aiming to grow and innovate within the nancial technology sector.66 Vol. 25/02, February 2024 HATEM DOWIDAR Group CEO e& TELECOMS 15 Hatem Dowidar is the Group CEO of e&. He joined the Group in September 2015 as Group Chief Operating Officer and was appointed as Chief Executive O cer, International in March 2016. Ever since he took the company’s helm, Dowidar has spearheaded several ground-breaking strategic programmes that propelled the company’s business growth to new heights across the 16 markets where it operates. As the company transformed into a global technology and investment conglomerate in February 2022, and despite the ever-changing business landscape, his astute brand stewardship has been the foundation for enhanc- ing e&’s brand equity, enhancing employee experience, and adding value to stakeholders. Today, e& is the world’s strong- est telecom brand, the rst in the Middle East and Africa (MEA) region to achieve this recognition. Dowidar also features among the Elite List of Brand Guardians globally. Under his guidance, the company is also recognised as the most valuable publicly-traded company and, according to Forbes, also the most valuable listed telecommunications service provider in the GCC region. A highly skilled strategist and visionary, Dowidar has been instrumental in ushering in a new phase of strategic partnerships and key collabora- tions with global industry leaders such as Microsoft and Meta that will digitally empower societies. Prior to joining the Group, Dowidar was the Group Chief of Sta for Vodafone Group based in London, reporting to the Vodafone Group CEO. He brings 30 years of experience in multinational companies and more than 24 years of these within the telecommunications industry across various lead- ership positions in multinational companies. He initially joined Vodafone Egypt in 1999, served as Marketing Director (CMO) and later became the CEO of Vodafone Egypt from 2009 - 2014, where he steered the business growth with benchmark pro tability in challeng- ing and competitive environments.Dowidar has a long track record of achievements in the various leadership positions he held at Vodafone Group and its subsidiaries, including Group Core Services Director, CEO of Vodafone Malta, CEO of Partner Markets with partnerships covering over 45 markets and Regional Director Emerging Markets. He also has extensive Corporate Governance experience through his representation as Chairman and Board Member in several Corporate Boards within and outside the telecom- munications industry. Dowidar began his career in AEG/Deutsche Aerospace (Daimler Benz Group) in Egypt, before moving into market- ing at Procter & Gamble, where he held several managerial roles. He is currently a board member of Etihad Etisalat Company (Mobily), Maroc Telecom, Etisalat Misr (Etisalat Egypt), Pakistan Telecommunications Company (PTCL) and Abu Dhabi Chamber of Commerce & Industry. On a global industry level, Dowidar is a member of the Internet Govern- ance Forum (IGF) panel, a multistakeholder group for poli- cies and practices relating to the Internet and technologies. Convened by the Secretary-General of the United Nations, the IGF facilitates knowledge exchange on how to maximise Internet opportunities and address risks and challenges.arabianbusiness.com 67 Senior Vice President and Group Country Manager – GCC Visa SAEEDA JAFAR FINANCE 16 Dr. Jaffar is a seasoned leader with expertise in financial services, payment systems, and digi- tal technologies. Her experience encompasses roles in private and investment banks, private equity firms, and sovereign wealth funds. At Visa, she has spearheaded innovative initiatives, such as sponsoring the FIFA World Cup and launching the Visa Masters of Movement NFT Collection, providing football fans the opportunity to create digital art. Jaffar also played an instrumental role in leading Visa’s ‘She’s Next initiative’ in the UAE, empowering local women entrepreneurs through access to networking, mentoring, and funding opportunities. In addition to her role at Visa, she serves as a board member of trustees at Kuwait Univer- sity, bringing extensive knowledge in nancial services and payments to her responsibilities. With a background as the managing direc- tor for the Middle East at Alvarez and Marsal over the past ve years, she held leadership positions at United Arab Bank, Bahrain FinTech Bay, and McKinsey and Company. Collaborating with clients in both the private and public sectors, Ja ar now reports directly to Andrew Torre, the regional president for Central Europe, Middle East, and Africa (CEMEA), solidifying her integral role within the CEMEA Leadership Team. Alongside her consulting work with public and private sector clients, Dr. Ja ar specialises in restructuring, PMI, operational programmes, strategy, and transformation. Her specialisation spans nancial services, encompassing government institutions, private equity rms, private banks, universal banks, and sovereign wealth funds. About Visa Visa, a global leader in digital payments, operates across over 200 countries and territories, connecting consumers, merchants, nancial institutions, and government entities. The company's mission is to foster worldwide connectivity through an innovative, convenient, reliable, and secure payments network. As the demand for instalment payment options grows among consumers, Visa has recently unveiled plans to introduce the Visa Instalment Solution (VIS) in the GCC for the rst time. VIS empowers clients and partners to implement instalment solutions on a broader scale, ensuring widespread acceptance and enhancing the over- all consumer shopping experience. 68 Vol. 25/02, February 2024 Bally Singh, a visionary British-born entre- preneur, serves as the Co-Founder and Chair- man of Hoko Agency, over- seeing the globally acclaimed Aioka brand showcased at Formula 1 race weekends. With an impressive 25 years of experience in devel- oping and orchestrating large-scale entertainment events and experiential marketing campaigns world wide, Bally has been a driving force behind Aioka’s ascent to the forefront of premium hospitality over the last decade. As the Bin Sulayem has been instrumental in propelling Dubai's expansion with strategic contributions that include the development of regional free zones, ports, and infra- structure, leading to the UAE’s upward growth. His far-reaching impact is re ected in his multifaceted roles, such as being a board member of the Dubai Exec- utive Council, the chairman of Virgin Hyperloop One, and holding the position of the chairman of the UAE Federal Tax Authority. Bin Sulayem steered the international expansion of DP World, a leading marine BALLY SINGH SULTAN AHMED BIN SULAYEM Founder and Chairman Hoko Agency Group Chairman, CEO DP World preferred choice for HNI’s, Corpo rates, and Sponsors seeking unparalleled solu- tions for hospitality, brand activation, and product launches, Aioka, a Hoko Agency-owned events IP, has expanded from its origin in Abu Dhabi a decade ago to operating in over 10 race weekends, as well as polo and football events. In 2024, Aioka invites you on an extraordinary journey through the world of F1 luxury, traversing iconic cities like Saudi Arabia, Australia, Miami, Monaco, the Netherlands, Azerbaijan, Singapore, Mexico, Brazil, Las Vegas, Qatar, and Abu Dhabi. Aioka’s race week- ends promise an unmatched blend of premium indul- gence and exhilarating F ormula 1 thrills. With dedi cated focus on hospitality, Aioka master- fully balances precision and creativity, creating awe-in- spiring experiences for major sporting brands and beyond. Every moment spent with Aioka assures opulence, comfort, and excitement, o ering curated event packages with front- row seats. terminal operator. Notably, under his guidance, DP World acquired the P&O Group for $6.8bn in March 2006, posi- tioning it as one of the world's largest port operators and a pivotal trade facilitator, with an impressive global pres- ence spanning 78 marine and inland terminals across six continents. He also helmed the development of the Jebel Ali Free Zone ( Jafza) while his foresight led to the inception of Nakheel. He also estab- lished and effectively led Istithmar World, a venture with a focus on private equity investments across North America, Europe, Asia, and the Middle East. Furthermore, he steered the inception of the Dubai Multi Commodities Centre (DMCC), a market catering to gold, precious metals, diamonds, coloured stones, and more. DP World also committed to a $500m logistics park to support Saudi Arabia’s Vision 2030. This year, DP World inaugu- rated the rst direct freight service between the UAE and Iraq, significantly reducing the transportation time for goods. ENTERTAINMENTLOGISTICS 1718arabianbusiness.com 69 AHMED ABDELAAL CEO Mashreq BANKING 19 With a career spanning over three decades, Abdelaal boasts a distinguished record as a seasoned banking professional, climbing an upward trajectory through senior positions within the realm of international and regional banks, encompassing pivotal global markets. His expertise trav- erses a diverse range of elds, embracing hands-on pro - ciency in the corporate and banking sectors, which includes trade nance, real estate nance, as well as payment and cash management. His capabilities also extend to investment banking, comprising debt capital markets, equity capital markets, project nance, and advisory services. Further- more, he possesses expertise in Islamic banking, retail bank- ing, and portfolio management. His comprehensive under- standing also extends to global market products, structured trade, and supply chain solutions. Abdelaal is an alumnus of both London Business School and Harvard Business School. He holds an MBA from London Business School, University of London, UK. He is also a Harvard AMP graduate and holds a BA in Economics and Political Science (Major Economics) from the Faculty of Economics and Political Sciences, Cairo University Egypt. About Mashreq Mashreq is in the process of preparing to integrate AI into its operations in a constructive manner with the focus on utilising AI for positive impact. An AI-powered chatbot is currently in development to function as a virtual assistant, aiding customers with various banking tasks, and is currently undergoing a pilot programme involving approximately 500 Mashreq customers. The bank recently incorporated Klip, a mobile money trans- fer service, into their application. Addi- tionally, they have integrated their bank’s Application Programming Interface (API) into the online marketplace noon. This integration allows customers to seam- lessly begin shopping right after applying for a noon.com membership. Mashreq’s digital journey reached a milestone with Mashreq Neo, their all-encompassing digital bank catering to the online generation. The user-friendly app o ers a complete range of banking services. For Mashreq Neo’s Non-Resident Indian customers, they have collaborated with Kotak Mahindra Bank, enabling seamless digital account opening for NRI clients in the UAE. This integration allows access to both UAE and NRE (non-resident external) accounts through the Mashreq Neo App, combining services from Mashreq and India's Federal Bank. Expanding their digital o erings, NeoBiz targets start- ups, contributing to the UAE's evolving start-up ecosystem. In line with an interconnected ecosystem, the bank explores part- nerships with fintechs and tech platforms to ensure their customers have access to premier services. Mashreq is strategically expanding globally, with a keen focus on key markets like Pakistan and KSA to enhance its digital banking presence. Both align with Mashreq’s commit- ment to operating in high-potential growth markets promot- ing long-term digitalisation e orts. Mashreq, prioritising sustainable banking success, introduced a comprehensive sustainability framework that actively champions various sustainable nance solutions, embedding sustainability into its business model. Leveraging advanced analytics, Mashreq ensures e ective integration and emphasises collaboration, shared responsibility, and continuous improvement. Next >