< Previous100 May 2024 100 MOST INFLUENTIAL ARABS 2024 SAMER SOLIMAN CEO Arab Financial Services (AFS) Responsible for driving the company’s digital payments and fintech growth strategy across the Middle East and Africa markets, Soliman is leading the company into a new era of payments digitalisation, spearheading the applica- tion of new technologies for more seam- less and intuitive payments experiences. A thought leader with over 20 years of international experience across the banking and payments sector, he brings a unique blend of payments, technical, and regional expertise to the role. He holds a master’s degree in Leading Innovation and Change from Robert Kennedy College in Switzerland, in partnership with York St John University in England and has completed his CEO program from IESE, Business School of the Univer- sity of Navarra in collaboration with The Wharton School at the University of Pennsylvania. Previously, Soliman held several senior leadership roles at Network International, including the role of managing direc- tor for the Network International Group’s Middle East busi- ness where he was responsible for their regional acquiring and issuing business. He also steered a comprehensive growth strategy across the Middle East. He has also held various exec- utive positions including chairman of Network International Jordan, board member of Diners/Discover ME, managing director of Network International Egypt, and product advisory board member of UnionPay International. With the company’s executive team, he is continuing the AFS tradition of pioneering new, smart payment solutions and services to the region, including advancing the company’s financial inclusion efforts. With a passion for superior compa- ny-customer relationships and forward-thinking innovation in the payments space, Soliman continues to strengthen AFS’s position as the leading digital payment solutions provider and fintech enabler in the MEA region. As part of his ongoing commitment to fintech and devel- oping future leaders, he is a board advisor to Sarwa Digital Wealth Limited and a Board Member of SP Jain Global School of Management, a leading, multi-city Australian business school known for its disruptive innovation in business educa- tion, in Dubai, Mumbai, Singapore and Sydney. About Arab Financial Services (AFS) AFS is a leading digital payments solutions provider and fintech enabler that has pioneered forty years of fintech inno- vation. The company is committed to identifying and embed- ding new and exciting digital payment solutions that bring immense value to the region’s business and banking commu- nities, end users and consumers. Collectively owned by 37 banks and financial institutions and regulated by the Central Bank of Bahrain, AFS serves over 60 clients spanning over 20 countries in the MEA region. The company's commitment to innovation is exemplified through a range of innovative payment services, encompassing card processing, merchant acquiring, fintech products and solutions, and a diverse set of value-added services. Its innovative approach has positioned AFS as a driving force in the market, offering a comprehensive portfolio of payment products, that include digital mobile wallet apps, digital payroll solutions, an open banking hub, pioneering open finance infrastructure, and much more. FINANCEarabianbusiness.com 101 100 MOST INFLUENTIAL ARABS 2024 LOGISTICS SULTAN AHMED BIN SULAYEM Group Chairman and CEO DP World Bin Sulayem has played a crucial role in driving Dubai's growth through strategic contributions including the development of regional free zones, ports, and infrastructure, leading to the UAE’s upward trajectory. His impact is evident in his diverse roles, which include serving as a board member of the Dubai Exec- utive Council, the chairman of Virgin Hyperloop One, and chairman of the UAE Federal Tax Authority. Bin Sulayem spearheaded the international expansion of DP World, a leading marine terminal operator. Notably, under his leadership, DP World acquired the P&O Group for $6.8 billion in March 2006, establishing it as one of the world's larg- est port operators and a key trade facilitator, with a substantial global presence across 78 marine and inland terminals spanning six continents. He also oversaw the development of the Jebel Ali Free Zone (Jafza) and played a pivotal role in the establish- ment of Nakheel. He founded and successfully led Istithmar World, a venture focusing on private equity investments in North America, Europe, Asia, and the Middle East. Further- more, he played a key role in establishing the Dubai Multi Commodities Centre (DMCC), a market catering to gold, precious metals, diamonds, coloured stones, and more. About DP World DP World UAE, situated in Dubai, is the central hub of DP World, housing the renowned Jebel Ali Port, which serves as the primary mari- time commercial gateway and key hub to a region encompassing over 3.5 billion individuals. The extensive port- folio of DP World UAE includes Jebel Ali Port; Mina Rashid Cruise Terminal and Coastal Bert, and P&O Marinas. Additionally, it comprises Mina Al Hamriya in Dubai, Jebel Ali Free Zone (Jafza), NIP, Dubai Auto Zone (DAZ), and Dubai Trade & World Security. Jebel Ali Port acts as a vital gateway for more than 80 weekly services connecting over 150 ports worldwide. DP World has also committed to a $500m logistics park in support of Saudi Arabia’s Vision 2030. Notably, this year, DP World launched the first direct freight service between the UAE and Iraq, signif- icantly reducing transportation times for goods. In February 2024, DP World marked a significant mile- stone with the ground-breaking ceremony for its new Agri Terminals facility at Jebel Ali Port, initiating a transformative journey to enhance food security in the UAE. Collaborating with Adroit Overseas Canada and Al Amir Foods, DP World plans to invest a total of $150m to construct the state-of-the- art Agri Terminals complex. The facility will focus on storing and processing various agricultural products like pulses, grains, corn, and soybeans, utilising DP World’s cutting-edge infrastructure such as pneu- matic ship unloaders and advanced conveying equipment. The first phase of this landmark project is scheduled for completion in early 2025, underlining DP World’s dedication to strength- ening the UAE’s food supply chain in line with the National Food Security Strategy 2051, while also reinforcing Dubai’s role in global food trade.102 May 2024 100 MOST INFLUENTIAL ARABS 2024 In his capacity as the UAE’s Special Envoy for Climate Change and as the president for COP28, Dr. Al Jaber has played a signifi- cant role in advancing the UAE’s green agenda while emphasising the impor- tance of energy transition to expedite economic growth and achieve environ- mental objectives. He has been instrumental in spear- heading the country’s green economy initiative since his reappointment as Special Envoy in November 2020, a position he previously held from 2010 to 2016. Al Jaber’s notable contribu- tions extend to being the first CEO appointed as a president for a climate summit, signalling his commitment to promoting an ecologically sustainable society through projects he has overseen in both the public and private sectors. A key aspect of his mission, during two separate terms as the Special Envoy for Climate Change since 2010, has been to fulfil the UAE's pledge of achieving Net Zero carbon emissions by 2050 follow- ing the 2015 Paris Agreement. Notably, the UAE was the first Middle Eastern nation to take a substantial stride towards climate action in a global context. At COP28, Al Jaber played a central role in guiding a global climate agenda in alignment with the UAE's dedication to sustainable development. His responsibilities encompassed collaborating with international governments, key stakehold- ers, and civil society to chart a roadmap that would facilitate practical solutions, bringing lasting socioeconomic advantages to the global sphere. Leadership roles Al Jaber has devoted his career to public service, displaying increased activity since his appointment to the UAE Federal Cabinet in 2013, where he held the position of Minister of State until July 2020. Utilising his extensive experience in both private and public sectors, he worked on overseeing, developing, and fostering partnerships with other nations to bolster the UAE’s economic growth. Subsequently, Al Jaber assumed the role of Minister of Industry and Advanced Technology in the same year. GOVERNMENT SULTAN AHMED AL JABER UAE Minister of Industry and Advanced Technology; Group Managing Director and CEO ADNOCarabianbusiness.com 103 100 MOST INFLUENTIAL ARABS 2024 In his current ministerial capacity, Al Jaber is directing his efforts towards expanding the industrial development infra- structure of the UAE to drive economic growth through tech- nological advancements. To elevate the UAE’s global compet- itiveness, he is actively promoting economic diversification and facilitating the integration of diverse sectors to strengthen the country’s industrial framework. The ministry is imple- menting strategic initiatives to support this vision, including collaborating with industry experts, and establishing an ecosystem to assist SMEs in catalysing economic expansion. Focus on renewables Al Jaber has dedicated more than a decade to laying the foun- dation for the UAE's green agenda during his tenure as the CEO of the Energy platform at Mubadala, the Abu Dhabi government's strategic investment arm. In 2006, just two years into his role, he played a crucial role in establishing Masdar, an Abu Dhabi-based future energy company renowned for its emphasis on clean energy and sustainable development. Serving as CEO of Masdar for seven years, Al Jaber over- saw the implementation of large-scale renewable energy projects globally, with a particular focus on initiatives in Abu Dhabi. One of the standout projects under his leadership is Masdar City, distinguished by its low-carbon, low-waste design that integrates innovative and sustainable urban plan- ning techniques. In 2009, Al Jaber led Masdar’s efforts in securing the UAE’s bid to host the headquarters of the International Renewable Energy Agency (IRENA) in Abu Dhabi. The same year, he was appointed by UN Secretary-General Ban Ki-moon to the UN Secretary-General’s Advisory Group on Energy and Climate Change (AGECC), contributing to the formation of the Sustainable Energy for All (SE4ALL) programme. This initiative aims to achieve affordable, reliable, sustainable, and modern energy for all by 2030. Currently ADNOC is a leading diversified energy group, wholly owned by the Abu Dhabi government serving as the chairman of Masdar, Al Jaber continues to guide the company in advancing the UAE's sustainable initiatives. Nurturing sustainability Al Jaber’s initiatives showcase his dedication to advancing sustainability and shaping the future of the energy sector both globally and within the UAE. Through the establishment of the Zayed Sustainability Prize and his transformative leader- ship at both Masdar and ADNOC, he has made significant contributions towards promoting environmental responsibility, supporting sustainable development, and driving innovation in the energy industry. The Zayed Sustainability Prize stands as a testament to Al Jaber’s commitment to recognising and nur tur ing ground-breaking solutions that address critical issues such as climate change, energy access, and water scarcity. At Masdar, Al Jaber’s pioneering efforts have not only set a high standard for sustainable urban development through projects like Masdar City but have also positioned the company as a leader in the renewable energy sector. His involvement in initiatives such as hosting the headquarters of IRENA in Abu Dhabi underscores his commitment to advancing renewable energy on a global scale and promoting international collab- oration in addressing climate change. As the Group CEO of ADNOC, Al Jaber has driven a strategic transformation that focuses on operational efficiency, innovation, and sustainability. By championing initiatives such as the expansion of CCUS programmes and investing in cutting-edge technologies like artificial intelligence and block- chain, he is spearheading ADNOC’s evolution towards a more sustainable and technologically advanced energy company. His commitment to decarbonisation, including ambitious targets to reduce carbon intensity and achieve net zero emis- sions, demonstrates a forward-thinking approach that aligns with global efforts to combat climate change.104 May 2024 100 MOST INFLUENTIAL ARABS 2024 SYED BASAR SHUEB CEO and Board Member IHC In his current role since July 2019, Shueb has played a vital role in expanding IHC’s strategic invest- ments across various industry sectors, using his leadership and vision to drive the company's continuous inno- vation, operational synergies, and cost efficiencies. Highly respected for his local knowledge and business acumen, Shueb brings over two decades of exten- sive experience in sectors such as manu- facturing, construction, financial services, and investments. Beginning his career as a computer engineering graduate at the Royal Group in 1998, he swiftly climbed the ranks to become the CEO of PAL Technology within three years where he oversaw rapid business growth and expansion. Under Shueb’s leadership, PAL Group achieved notable successes, including establishing one of the UAE’s largest fish and integrated shrimp farms spanning over 100 hectares and developing five major housing projects across the nation. He also spearheaded the creation of Pal District Cooling, a key player in the UAE’s market with seven plants servicing major Residential and Office Tower precincts in Abu Dhabi. Addi- tionally, he led the development of Pal Robotics and intro- duced the Reem Series, one of the world's earliest bi-ped humanoid units. Apart from his role as a board director at IHC, Shueb is also involved with Tamouh, Reem Finance, the Minton Spring Water Company in the UK, K-TIG in Australia, Chimera Investments, Chimera Capital, AgiLight, Inc in the US, and Macquarie Capital Middle East. About IHC Established in 1998 as part of an initiative to diversify non-oil business sectors within the UAE, IHC has grown to become the most valuable listed holding company in the Middle East, with a market capitalisation of $238bn as of December 31, 2023. Emphasising sustainability, innovation, and economic diversification, IHC has solidified its position as one of the region's largest conglomerates and a constituent of the FTSE ADX 15 Index (FADX 15), representing the top 15 companies on the Abu Dhabi Securities Exchange. IHC’s primary objective is to enhance its portfolio through strategic acquisitions, investments, and business mergers. With over 600 subsidiaries and a workforce exceeding 150,000 employees, IHC aims to broaden its interests across sectors such as asset management, healthcare, real estate, and construction, marine and dredging, it and communications, financial services, food production and service, utilities, as well as services. In February 2024, IHC introduced a ground-breaking initiative by creating a new board observer position for an 'Artificial Intelligence (AI) Observer' named ‘Aiden Insight’. This virtual entity with advanced AI capabilities is aimed at revolutionising how IHC navigates the complexities of the global investment landscape. This innovative step, powered by the leading AI capabilities of G42 in partnership with Micro- soft, is expected to bring numerous benefits to the IHC Board, including improved decision-making through enhanced data analysis, strategic readiness for emerging trends and technol- ogies, as well as the promotion of a culture of innovation. INVESTMENTarabianbusiness.com 105 100 MOST INFLUENTIAL ARABS 2024 FINANCE TALAL AL AJMI Founder and CEO Development Holding Company (DH Company) A l Ajmi is a dynamic Kuwaiti entrepreneur renowned for his expertise in financial markets and trading, solidifying his status as a prominent figure in Kuwait and the wider Middle East. While holding a bache- lor’s degree in Information Technology from the University of Philadelphia, his true passion and vision lie in entrepreneurship and business leadership. Recognised within the business community as a strategic visionary, his entrepreneurial ethos is characterised by a relentless pursuit of success and a commit- ment to empowering others to achieve significant milestones. At the helm of DH Holding, Al Ajmi leads with a trans- formative vision, merging astute analysis with strategic plan- ning to shape future trajectories effectively. Embracing change and challenging norms, he advocates for adaptability and greatness. With an unwavering dedication to innovation, Al Ajmi drives expansion and unearths new opportunities, fuel- ling an environment primed for boundless success. His commitment to growth and innovation stems from a belief in the transformative impact of strategic investments, aiming to create a landscape where diversification and financial planning enable individuals to excel and reach success. In the business world, Al Ajmi emerges as a visionary force driven by a greater purpose and a relentless pursuit of excel- lence. His entrepreneurial spirit is fuelled by a deep-rooted desire to redefine success and empower others to achieve remarkable heights. With DH Holding, his unwavering commitment to innova- tion and growth is rooted in a profound belief in the power of strategic invest- ments. He aspires to create a world where individuals can embrace diversi- fication and financial planning, unlock- ing their true potential and experiencing the exhilaration of reaching new pinna- cles of success. About Development Holding (DH) Company DH places a strong emphasis on transparency, providing clients with in-depth insights into their investments through comprehensive metrics. The firm is deeply committed to research and development, with a specific focus on AI and data analytics to inform strategic decision-making. The inte- gration of advanced technology and client feedback is pivotal to DH's strategic planning approach. As the visionary leader guiding the company, Al Ajmi advocates for a culture of contin- uous learning among team members, offering opportunities for professional growth and development. DH's business philosophy is rooted in principles of social responsibility and sustainability, which form the core of the company's values. DH remains steadfast in prioritising growth, transparency, and client satisfaction, committed to fostering innovation and delivering outstanding outcomes. Positioned as a transform- ative entity in a world ripe with possibilities, DH’s ethos revolves around integrity, growth, and innovation, propelling the company towards significant success. By championing innovation, challenging boundaries, embracing adaptability, fostering a culture of continuous learning, and upholding social responsibility, DH navigates the evolving business land- scape with resilience. Looking towards the future, the company is gearing up for substantial investments, providing clients with profit-sharing opportunities.106 May 2024 100 MOST INFLUENTIAL ARABS 2024 TALAL AL DHIYEBI Group CEO Aldar Properties With a solid background in asset management and a wide range of real estate sectors, such as mixed- use, retail, residential, commercial, education, and infrastructure large-scale developments, Al Dhiyebi has previously held various key senior positions within the group. This includes roles as the chief development officer and executive direc- tor of Asset Management, among others. Before assuming his current posi- tion, Al Dhiyebi played crucial leader- ship roles within the company since its merger in 2013 with Sorouh. Behind the successful completion of significant projects like Ferrari World and Yas World in Abu Dhabi, Aldar is considered the largest real estate development and asset management company in Abu Dhabi. Additionally, as the vice-chairman of Aldar Education, Al Dhiyebi serves as chair- man on multiple boards, including Aldar Estates, SODIC, Aldar Education, Aldar Investments, Abu Dhabi Motorsports Management, Abu Dhabi Housing Authority, Abu Dhabi Chamber of Commerce & Industry, and more. About Aldar Since 2005, the company has been shaping Abu Dhabi’s urban framework with key projects that include Yas Island’s F1 circuit and Gate Towers in Shams Abu Dhabi on Al Reem Island. Aldar announced the launch of the first-of-its-kind holistic health and wellbeing residential development in the UAE in March 2023. Located in Saadiyat Grove, ‘The Source’ will feature 204 penthouses and apartments, with design elements inspired by holistic health and wellbeing. Unique offerings for residents will include premium fitness facilities, wearables, meditation rooms, and sleep applications. On 18 April 2024, Aldar Properties (Aldar) unveiled a collaboration with Siemens to transform Saadiyat Grove, an integrated mixed-use project in the cultural heart of Abu Dhabi, into a prominent global model of smart urban living. The partnership was formalised at the World Future Energy Summit (WFES) in Abu Dhabi. By leveraging the Siemens Xcelerator portfolio and its cloud-based Building X platform, Aldar is set to implement the UAE’s inaugural cloud-based smart district management system throughout the entirety of the Saadiyat Grove community. This initiative marks the most substantial global investment in smart technology within a mixed-use residential and commercial real estate development to date. The comprehensive system will incorporate advanced energy analytics to facilitate emission reductions aligning with Aldar’s Net Zero Plan, while promoting sustainable living with tailored experiences for residents that prioritise their well-be- ing. IoT sensors will monitor air quality and noise levels, complemented by AI technologies ensuring cutting-edge safety, security, and predictive maintenance. These innovative solutions will be integrated into an advanced analytics application adaptable across Aldar’s port- folio, encompassing both new and existing developments. This scalability will ensure consistent quality and operational stand- ards, centralised monitoring, and secure data management throughout the portfolio. It constitutes a key element of Aldar’s broader commitment to an advanced technology infrastructure ecosystem that delivers superior customer service, enhanced operational efficiency, and more sustainable solutions. REAL ESTATEarabianbusiness.com 107 100 MOST INFLUENTIAL ARABS 2024 REAL ESTATE TALAL MOAFAQ AL GADDAH CEO MAG Lifestyle Development With a wealth of experience and a drive for innova- tion, Talal Al Gaddah stands out as a pioneering figure in the real estate sector. As the visionary behind MAG Lifestyle Development, he has over- seen a multitude of ground-breaking projects that have trans- formed the landscape of the UAE. From iconic residential towers to visionary mixed-use developments, his portfolio showcases a steadfast commitment to excellence and a dedication to creating spaces that inspire, elevate, and revitalise communities. Al Gadd- ah’s current real estate portfolio exceeds $4bn, encompassing 14 completed projects and 7 projects currently in progress. In 2022, marking a landmark year, Al Gaddah introduced the Keturah brand, a cutting-edge concept that embodies luxury intertwined with wellness principles. This pioneering endeavour underscores his exceptional talent for blending luxury with sustainability, positioning the Keturah brand as a frontrunner in shaping future global developments. Subse- quently, his forward-thinking approach has propelled the Keturah brand beyond traditional real estate boundaries, promoting a lifestyle centred on innovation, exceptional qual- ity, and holistic well-being. This marks a significant shift in the industry towards creating communities that serve as bastions of sustainable and enriching living environments. As a visionary leader driving transformative innovation in real estate, Al Gaddah embodies a commitment to excellence, sustainability, and community well-be- ing. His visionary outlook transcends conventional boundaries, driving forward a future where innovation and sustainability converge seamlessly in real estate development. Keturah made its debut at The Ritz-Carlton Residences, Dubai, Creek- side with Keturah Resort, the inaugural development in the region to actively pursue a WELL Health-Safety Rating certification. Shortly thereafter, Keturah Reser ve was introduced, marking another first in the Middle East with its innovative 'Bio Living' concept, providing residents with an immersive experience in landscaped nature to enhance their physical, mental, and emotional well-being significantly. Positioned as a game- changer in luxury real estate, Keturah seamlessly integrates extravagance with well-being to deliver unparalleled living experiences. Under the leadership of Al Gaddah, Keturah transcends traditional norms by offering transformative envi- ronments that prioritise holistic wellness, sustainability, as well as community cohesion. From the distinguished Keturah Resort to the innovative Keturah Reserve, each project epit- omises excellence and sets new benchmarks for luxury living not only in the UAE but also on a global scale. About MAG Lifestyle Development Boasting a 40-year legacy, MAG Group stands as one of the largest corporations in the region, maintaining a prominent leadership position in various sectors including real estate, contracting, engineering, industrial and commercial trading, freight services, and hospitality. MAG Lifestyle Development, the group's real estate subsidiary, includes a portfolio which encompasses a diverse range of initiatives, from pioneering luxurious projects to introducing wellness-focused living concepts in the UAE and beyond. 108 May 2024 100 MOST INFLUENTIAL ARABS 2024 TALAL SAID MARHOON AL MAMARI CEO Omantel Al Mamari has an extensive background with Omantel, having served the organisation for over two decades before assuming his current role in June 2014. Before this position, he held various leadership roles within the organisation, including his most recent role as Oman- tel's chief financial officer. He played a key role in several significant projects during his tenure, such as leading the Omantel team in the acquisition of a 21.9 percent stake in the Zain Group. He also oversaw the restruc- turing of Omantel by consolidating its mobile and fixed oper- ations and successfully facilitated the legal merger of Oman Mobile with Omantel. In his efforts to create value for shareholders and drive Oman- tel towards achieving its growth plans, Al Mamari also serves on the boards of the Al Amal Fund, the Zain Group, and the Oman Corporate Governance & Sustainability Centre. About Omantel With telecommunications leveraging digital innovation at the core of strategies to meet the requirements of the future, through its subsidiary company Oman Data Park, Omantel strives towards enabling large corporates and enterprises to migrate to the cloud. They are doing this by designing cost-ef- fective solutions that streamline customers’ operations with- out compromising data security. In April 2023, a five-year contract was signed between Omantel and Bank Dhofar to provide the bank with a wide suite of data centre offerings, ranging from co-location and connectivity solutions to bespoke hybrid solutions followed by steps for workload migration into cloudification. In alignment with Oman Vision 2040, on 3 April 2024, Omantel and Asyad Group, a global integrated logistics provider in Oman, announced a collaborative partnership to introduce an innovative accelerator programme aimed at empowering local tech start-ups within the logistics industry. The formal signing ceremony represented a significant mile- stone in Oman's tech and logistics sectors. The Asyad-Omantel Accelerator Programme has been meticulously crafted to provide comprehensive support to Omani tech start-ups, encompassing mentorship, training, networking opportunities, and fundraising assistance. Span- ning over six months, the programme specifically targets prom- ising start-ups with innovative technologies that contribute to the enhancement of Oman's logistics landscape, with a stra- tegic focus on supply chain optimisation, cold chain enhance- ment, and sustainable logistics solutions. Operating from the Omantel Innovation Labs, participants in the Asyad-Omantel Accelerator Programme stand to gain a host of benefits, including access to mentorship from indus- try experts, specialised training sessions, potential investment prospects, and a dedicated learning platform. Additionally, start-ups will have the opportunity to engage in collaborative discussions and knowledge-sharing within the dynamic community of the Omantel Innovation Labs, while also explor- ing Asyad’s integrated logistics ecosystem. TELECOMSarabianbusiness.com 109 100 MOST INFLUENTIAL ARABS 2024 INVESTMENT WAFIK BEN MANSOUR Acting CEO SHUAA Capital Formerly a managing director at Credit Suisse for 15 years, Mansour joined SHUAA in May 2023 to lead the company’s advisory and capital markets platform, serving institutional clients across the MENA region. In his role, he works closely with the board and management team to charter a new course for the company that prioritises excellent client service, sustainable growth and shareholder value while enhancing balance sheet efficiency. With a strategic focus on creating a growth platform and seizing market opportunities in the UAE and beyond, under Mansour’s direction, SHUAA Capital is poised to achieve new levels of excellence and innovation, driving sustainable growth and delivering value to its stakeholders. About SHUAA Capital In the realm of asset management and investment banking, SHUAA Capital has emerged as a frontrunner known for its remarkable track record and innovative investment strategies. With a distinctive, global product portfolio emphasising public and private markets, debt instruments, and real estate, SHUAA Capital has carved its niche in the industry as a trail- blazer in the field. The asset management segment, recognised as one of the largest in the region, oversees real estate funds, investment portfolios, and funds in regional equities, fixed income, and credit markets. Providing tailored investment solutions to clients, the firm places a significant emphasis on crafting alternative investment strategies to meet diverse client requirements effectively. Furthermore, the investment bank- ing arm of SHUAA Capital specialises in delivering corporate finance advisory, transaction services, private placements, and orchestrating public offerings of equity and debt securities. Additionally, the firm plays a crucial role in fostering market liquidity through trading activi- ties in over-the-counter (OTC) fixed income products, all while abiding by the regulatory oversight of the Securities and Commodities Authority. In an update from February 2024, SHUAA Capital shared its preliminary financial results for the full year ending on 31 December 2023, providing valuable insights into the compa- ny's performance during a transformative period. The report unveiled impressive achievements, with SHUAA recording full-year revenues of $45 million, representing a remarkable 34 percent growth on a pro forma basis compared to the previ- ous year. This substantial revenue increase was complemented by an adjusted net operating income of $6.5 million, indicat- ing a significant surge of 128 percent year-on-year. One of the notable accomplishments highlighted in the financial results is the 11 percent reduction in the cost-to-income ratio, demon- strating SHUAA’s commitment to efficiency and optimisation in its operations. The robust financial performance outlined in the report reflects SHUAA Capital's strategic focus on capital optimisa- tion, growth, and seizing market opportunities under the lead- ership of Mansour. As the company navigates through a dynamic and competitive landscape, these results affirm SHUAA’s resilience and success in achieving its objectives and enhancing shareholder value. Next >