< Previous110 May 2024 100 MOST INFLUENTIAL ARABS 2024 WALEED AL MOGBEL Managing director, CEO, and Board Member Al Rajhi Bank With experience spanning over 24 year s in the financial and banking sector, Al Mogbel has demonstrated multifaceted expertise in areas such as auditing, tax, financial management, as well as strategic consul- tation. His robust career at Al Rajhi Bank has been marked by noteworthy achievements and leadership roles, reflecting his strategic acumen and operational excellence. Having assumed key executive posi- tions within the organisation, Al Mogbel's career trajectory includes serv- ing as the chief financial officer in 2010, where he oversaw financial planning and performance management to drive sustainable growth. Subsequently, his tenure as the chief oper- ations and information technology officer in 2014 positioned him at the crossroads of operational efficiency and technolog- ical innovation, spearheading transformative initiatives to enhance the bank’s digital capabilities. He was subsequently appointed in 2019 as the deputy CEO by the bank. Throughout his tenure, he has been instrumental in lead- ing and executing numerous transformational projects that have propelled Al Rajhi Bank towards new heights of success and competitiveness in the dynamic financial industry. Beyond his responsibilities at Al Rajhi Bank, Al Mogbel extends his leadership impact by serving as a board member at Al Rajhi Takaful, contributing his insights to drive strategic decisions in the insurance sector. Additionally, his role as the chairman of Emkan Finance and Neoleap reflects his commitment to fostering innovation and growth in diverse financial domains. About Al Rajhi Bank With a wealth of experience spanning over 60 years in banking and trading activities, the individual entities operating under the Al Rajhi name were consolidated into the overarching entity Al Rajhi Trading and Exchange Corporation in 1978. Subsequently, in 1988, the establishment transitioned into a Saudi joint stock company known as Al Rajhi Banking and Investment Corporation, eventually rebranded as Al Rajhi Bank. Firmly rooted in Islamic banking principles and values, Al Rajhi Bank, headquartered in Riyadh, stands as a beacon, harmonising modern financial requirements with Sharia compliance. As of December 2023, Al Rajhi Bank has been diligently serving a vast clientele exceeding 15.8 million active custom- ers through its extensive network of 545 branches, operating not only within KSA but extending its reach beyond. The bank's workforce comprises 20,878 dedicated individuals committed to upholding its mission. Diversifying its financial offerings, in April 2023, Al Rajhi Bank took a significant stride by issuing its inaugural US dollar Sukuk, unveiling a $1bn five-year sustainable Sukuk. The bank closed the year with total assets valued at $215.5bn and recorded a notable net profit of $4.4bn. In a strategic move in March 2023, PIF's Saudi Real Estate Refinance Company partnered with Al Rajhi Bank to refinance a substantial real estate financing portfolio surpassing $1.3bn. Building on its commitment to innovation, in March 2024, Al Rajhi Bank aligned with the Buna platform to enhance its payment solutions, marking a progressive step forward in its service capabilities. BANKINGarabianbusiness.com 111 100 MOST INFLUENTIAL ARABS 2024 BANKING SHEIKH WALEED KHAMIS AL HASHAR CEO Bank Muscat In 2004, Hashar embarked on his professional journey with Bank Muscat and was appointed to his current role in 2019. With an impressive career spanning over three decades in the realms of banking, as well as the oil and gas industries, he brings a wealth of expertise and insights to his role. Prior to his tenure at Bank Muscat, he held key senior positions at major organisations such as Petroleum Develop- ment Oman and HSBC Bank Middle East. His extensive background in leadership roles within these sectors under- scores his vast knowledge and strategic acumen, positioning him as a seasoned professional adept at navigating the complexities of the financial and energy landscapes. His educational background includes a postgraduate diploma in General Management from the Harvard Business School, further solidifying his leadership prowess. Additionally, he holds a Bachelor of Science degree and a Master of Business Admin- istration from California State University in Sacramento, USA. Al Hashar’s dynamic combination of hands-on experience in the banking and energy sectors, coupled with his strong academic foundation, positions him as a seasoned leader with a compre- hensive understanding of diverse industries and a strategic vision to navigate the complexities of the financial landscape. About Bank Muscat Bank Muscat, recognised as the leading financial institution in Oman, boasts a comprehensive network comprising over 180 branches and service centres strategically positioned throughout the sultanate. Complement- ing this expansive infrastructure are over 850 ATMs, CDMs, and multi-use machines, serving as convenient touch- points for customers across various locations. With a strong emphasis on accessibility and innovative financial inclusion solutions, the Bank has solidified its position as the preferred banking partner for more than 2.5 million custom- ers in the country. Through its robust grid and commitment to enhancing financial services accessibility, Bank Muscat stands at the forefront of empowering and serving a vast and diverse customer base in Oman. With a strong presence in corporate banking, personal banking, investment banking, Islamic banking, treasury, private banking and asset management, the bank has the larg- est network of branches and electronic channels in Oman, as well as branches in KSA, Kuwait and representative offices in Dubai, Iran, and Singapore. In March 2024, Bank Muscat continues to implement its strategic plan to expand its branch network across the country, aiming to provide the best banking services to customers. In the same context, the bank celebrated the inauguration of a new branch in Seeb, Maabelah South, Muscat Governorate, under the patronage of Sheikh Al Mutasim bin Abdullah Al Siyabi, Deputy Wali of Seeb, in presence of several the Bank’s executive management members. On 15 April 2024, Bank Muscat unveiled its preliminary unaudited financial results for the three-month period ending on 31 March 2024. During this timeframe, the bank reported a net profit of $141m, marking a notable increase of 5.7 percent compared to the corresponding period in 2023, where it stood at $133m.112 May 2024 100 MOST INFLUENTIAL ARABS 2024 WALID HANNA Founder and CEO Middle East VenturePartners (MEVP) Hanna stands at the forefront of Middle East Venture Partners (MEVP), a prom- inent and highly active venture capital firm within the MENA region. With over 18 years of extensive experience, Hanna has steered the direction of more than 50 venture capital investments under his guid- ance. MEVP currently stands as a leading venture capital firm with a sharp focus on technology investments in the MENA region, across key locations including Dubai, Beirut, Cairo, Riyadh, Bahrain, and Abu Dhabi. In May 2017, MEVP witnessed a significant milestone with the acquisition of a non-controlling stake by UAE busi- nessman Mohamed Alabbar, further solidifying its position in the market. Prior to establishing MEVP, Hanna held the position of CEO at Dubai International Capital’s venture division, the Arab Business Angels Network (ABAN). His professional journey has also seen him contribute to the investment management team at Abraaj Capital, adding valu- able insights to his portfolio. Hanna’s expertise extends beyond mere investment over- sight, as he has actively co-founded, invested in, and led numerous key startups across various industries within the MENA region, with a notable emphasis on technology-driven ventures. From 2001 to 2006, he served as the managing partner of Orange Investment Holding, based in Beirut, Lebanon, paving the way for strategic investments and impactful ventures. In Lebanon specifically, Hanna has played key roles in the founding, investment, and leadership of multiple innovative startups spanning diverse industries such as technology, consumer finance, and hospitality. About MEVP MEVP is a renowned venture capital firm with a strong 12-year track record, having invested in 60 technology start- ups across various tech sectors. Focused on the Middle East, MEVP specialises in investing in innovative technology companies during their early and growth stages. The firm's portfolio includes well-known entities such as Anghami, The Luxury Closet, and Wego, consolidating an impressive asset under management (AUM) exceeding $300m across four distinct funds. In October 2023, Zest Equity, a technology company specialising in digital infrastructure for private market trans- actions, successfully concluded a $3.8m seed round spear- headed by MEVP. Additionally, the round saw involvement from the Dubai Future District Fund (DFDF) and DASH Ventures, further bolstering support for Zest Equity's expan- sion and development plans within the MENA market. On 8 January 2024, Clinicy, an advanced healthcare technology start-up based in KSA, achieved a significant milestone by successfully securing a substantial seven-figure Series A fund- ing round. MEVP led the funding initiative in collaboration with Gate Capital, with additional participation from existing stakeholders namely Kafou Group and Fadeed Investment. INVESTMENTarabianbusiness.com 113 100 MOST INFLUENTIAL ARABS 2024 INDUSTRY YASSER ABDUL MALAK Chairman and CEO Nestle MENA A ppointed to his current role on 1 January 2022, Abdul Malak has over two decades of experience with Nestlé where he has held multiple senior lead- ership positions across key regions. Previously, he was appointed in the role of CEO in Nestlé Turkey from April 2021 to January 2022 where he delivered robust results and helmed expansion projects that led to the company’s growth in the country. Over the years, he has held several leadership positions at Nestlé, including the CEO for Nestlé’s Northeast Africa region based in Egypt until he was assigned the role of Dairy Category Head Zone Europe Middle East & North Africa in 2018 at the Nestlé headquarters in Vevey, Switzerland. Abdul Malak embarked on his career trajectory with Nestlé in KSA in 1999. Following his first assignment, he moved to their regional head office to helm the MAGGI busi- ness as the senior brand manager until mid-2003. This was followed by an appointment as the global marketing advisor for the food business in Switzerland. In 2005, he was promoted to lead the food business in the Southeast Africa region. Three years later, he returned to the Middle East as the business executive officer food prior to his assignment as the country manager. About Nestlé MENA Nestlé, a Swiss company with a heritage spanning more than 150 years, has had a presence in the MENA region for over a century, beginning with the sale of the first infant cereals in Egypt. The compa- ny’s portfolio in the region comprises more than 60 innovative product brands across various categories, including dairy, infant nutrition, coffee, creamers, confectionery, bottled water, breakfast cere- als, and pet food. Nestlé’s regional office for the MENA region is located in Dubai South, with operations across the UAE in cities such as Dubai, Abu Dhabi, Al Ain, Fujairah, and Ras Al Khaimah. Nestlé locally produces confectionery, dairy, culinary, and coffee at two food and beverage factories in Dubai, along with operating two water manufacturing sites, one in Dubai and the other in Abu Dhabi. Nestlé Middle East has shown commitment to sustaina- bility by achieving a 52 percent reduction in greenhouse gas emissions and a 35 percent decrease in energy consumption since 2010 across its 24 manufacturing sites in the MENA region dedicated to food, beverage, and water production. Moreover, the company is swiftly progressing towards embrac- ing renewable energy on a larger scale, with 25 percent of its MENA sites now powered by renewable sources. Since 2008, gender balance has been a priority for Nestlé, driving an increase in the number of women at all levels in the organisation. Nestlé's global and local initiatives on gender diversity include development opportunities through mentor- ing and coaching programs, a flexible and supportive work environment, role model events, round tables, and network discussions, leadership development training, unconscious bias workshops, and the Maternity Protection Policy.114 May 2024 100 MOST INFLUENTIAL ARABS 2024 ZAID S. AL KHAYYAT Managing Director Al Khayyat Investments (AKI) Al Khayyat Investments’ Chair- man Dr. Saad F. Al Khayyat laid the foundation of AKI’s legacy in 1982 with an unwa- vering commitment to making a differ- ence. This foundation grew into the powerhouse and impact-driven business that it is today. AKI continues to be a leading family business in the region. Guided by the leadership of Zaid S. Al Khayyat, AKI propels forward, cultivat- ing growth with a dedication to innova- tion and meaningful impact within ever y industr y and community it touches. AKI’s operations now span nine countries including the UAE, KSA, Qatar, Bahrain, Kuwait, Oman, Egypt, Jordan, and Iraq. AKI works across a diverse portfolio of businesses, partnerships, and home-grown brands across every part of people’s lives to bring them the things that matter. This includes offering premium products and services in retail, healthcare, consumer goods, fitness, fashion, lifestyle, contract- ing, and automotive. “At the heart of AKI’s success lies its focus on core values, embedded in a people-first philosophy,” says Al Khayyat. “This people-centric approach has not only fuelled the company’s growth but also creates a work environment where everyone is supported, appreciated, and respected.” As a result, AKI was named one of the top 25 Best Workplaces in UAE™ last year by Great Place to Work® Middle East. Elevating impact in the region Many of the world’s most valuable brands trust AKI to nurture and elevate their business in MENA, growing their market potential and deepening engagement with their consumers. Over the last year, AKI has continued to do this while expand- ing its impact across the region. This has involved the contin- ued expansion of its home-grown brands BinSina Pharmacy and Befit across the region, and in AKI Retail, expansion into KSA. In the pharmaceutical realm, AKI Pharma has tripled its brand partnerships in the last five years, emerging as a top healthcare partner in the region. Furthermore, AKI continues to invest in its Iraq operations, covering healthcare and FMCG sectors. Meanwhile, AKI Consumer Goods (food and non-food) has ranked among the top three largest UAE FMCG partners. AKI’s Gulf Contracting and Landscaping (GCL) business continues to emerge as an industry leader nationwide in contracting services. Always aiming for the exceptional “We hold ourselves to high standards. We aim high, do more, and deliver beyond the expected,” Al Khayyat says. In particu- lar, the executive is adamant about embracing the power of new technologies within AKI. For example, later this year AKI will officially unveil a state- of-the-art fulfilment centre in the UAE that will further solidify AKI’s position within the market, ensuring swifter and more efficient distribution capabilities for its partners and customers, while giving AKI the ability to triple its current capacity. Looking ahead, Al Khayyat notes: “We share the region’s spirit, energy, and optimism for what is possible today and tomorrow, playing our role in helping to drive a more sustain- able environment and support long-term economic growth wherever we operate.” INVESTMENTNext >