< Previous10 June 2024 POWER OF FINANCE 2024 ADNAN CHILWAN Group CEO Dubai Islamic Bank (DIB) Dr. Chilwan is a renowned figure in the field of Islamic banking and finance, with nearly 30 years of experience in both conventional and Islamic banks in the region. As the CEO of Dubai Islamic Bank (DIB), he leads the world's first Sharia-compliant bank and the largest in the UAE. He also serves on the boards of strategic investments, subsidiaries, and associates, including as chairman of DIB Bank Kenya and board member of entities such as Noor Bank, Deyaar, Liquid- ity Management Centre in Bahrain, and Dar Al Sharia. In addition to his leadership roles, he is dedicated to promoting Islamic finance globally, engaging with govern- ments and organisations both within and outside the UAE. He shares his expertise at prestigious universities such as the University of Cambridge, City University of London, Cass Business School, and Skyline University, and serves on the advisory council at the Higher Colleges of Technology (HCT) in the UAE. With a PhD and MBA in marketing, certification as an Islamic Banker (CeIB), and postgraduate studies in Islamic Banking and Insurance, he is committed to maintaining indus- try standards as an associate fellow member of the Islamic Finance Professionals Board. About Dubai Islamic Bank Established in 1975, Dubai Islamic Bank (DIB) is the largest Islamic bank in the UAE, publicly listed on the Dubai Finan- cial Market as a joint-stock company. Considered a pioneer in the global Islamic finance industry, DIB is the world's first full-service Islamic bank and the second largest globally. The bank offers a wide range of innovative Sharia-compliant prod- ucts and services to retail, corporate, and institutional clients. The launch of DIB Pakistan Limited, a wholly owned subsid- iary offering Priority & Platinum Banking, demonstrates the bank’s international presence. Additionally, DIB expanded into the Far East with the establishment of Panin Dubai Syariah Bank in Indonesia in 2017, where DIB holds a stake of over 25 percent. Dubai Islamic Bank’s first quarter 2024 group financial results ending 31 March 2024 reported a 22 percent increase in pre-tax profit to $503m, attributed to improved perfor- mance in new financing and sukuk investments, along with decreased impairment charges. Net financing and sukuk investments also grew by 3 percent to $75bn. Total income for the year reached $1.5bn, marking a 26.5 percent increase from the previous year's $1.2bn. During the quarter, the bank launched “SHAMS” Credit Card in partnership with Visa. The SHAMS Visa credit card is tailored for the diverse needs of every segment, including the affluent and emerging affluent. The card goes beyond rewards, offering a comprehensive suite of daily relevance and lifestyle benefits including 5 percent back on dining spends, 5 percent back on travel expenditure, complimentary Fitness First access, Costa Coffee, golf rounds, valet parking, and many more bene- fits. SHAMS cardholders can also collect Wala’a rewards on their spends, with the flexibility to redeem them against flights, hotels, cash, retail transactions, and more. UAEarabianbusiness.com 11 POWER OF FINANCE 2024 AHMAD ABU EIDEH CEO Invest Bank As the CEO of Invest Bank, Abu Eideh is a seasoned financial services professional with more than three decades of leadership experience in the banking industry. Throughout his career, he has gained extensive expertise in corporate and investment banking at local, regional, and international levels, as well as in corporate turnarounds and digital transformation. Prior to joining Invest Bank, Abu Eideh served as the Chief Executive Officer of Standard Chartered Bank Middle East (Jordan, Egypt, Iraq, and Lebanon) and held various senior positions at institutions such as HSBC and ABN AMRO. His most recent role was as the CEO of United Arab Bank. Abu Eideh holds a Bachelor’s Degree in Economics with a minor in finance and banking from Yarmouk University in Jordan. He is widely recognised for his innovative approach to banking, integrating cutting-edge technologies to automate operations and drive digital transformation within the indus- try. Furthermore, he has served as a Member of the Board of Trustees at the American University of Sharjah since August 2023, and he has been the chairman of the Corporate Govern- ance Committee of the UAE Banks Federation since 2020. Contributing to Sharjah’s economic development Invest Bank, a public shareholding company founded in 1975 in Sharjah, has witnessed continuous growth and development over its years of operation. The bank’s shares are publicly traded on the Abu Dhabi Securities Exchange (ADX), further enhancing its transpar- ency and accessibility to investors. Since its inception, Invest Bank has played a key role in driving economic progress in Sharjah and the broader UAE. Through its innovative financial solutions and unwavering commitment to customer satisfaction, the bank has built a solid reputation and forged lasting relationships with its diverse clientele, comprising both corporate entities and individual customers. With a customer-centric approach that values efficiency and convenience, the success of Invest Bank over its four-decade legacy is a testament to its commitment to building and maintaining trusted relationships. Invest Bank recently partnered with the Sharjah Depart- ment of Human Resources (SDHR) to join the Waffer discount scheme. This alliance aims to benefit over 90,000 individuals who hold the Waffer discount card, offering exclusive promo- tions and discounts on banking, investment, and credit services provided by Invest Bank. Through the Waffer programme, Invest Bank seeks to not only add value for its customers but also contribute to the broader strategic objectives of enhancing partnerships between different sectors within the country. The bank actively supports charitable organisations and community projects and has received awards for its contribu- tions. Organisations such as Sharjah Civil Defense, Sharjah Police, Sharjah Expo Centre, and Sharjah Equestrian and Racing Club have formally recognised the bank’s efforts. Invest Bank participates in Career Fairs by the Emirates Institute for Banking and Financial Studies to promote banking careers for UAE nationals. Invest Bank also sponsors international banking conferences organised by the UAE Central Bank to facilitate dialogue among local/regional banks. UAE12 June 2024 POWER OF FINANCE 2024 AHMED ABDELAAL Group CEO Mashreq With a career spanning over three decades, Abdelaal has established a track record as a veteran bank- ing professional, progressing through senior roles within international and regional banks across key global markets. His expertise showcases proficiency in corporate and banking sectors, including trade finance, real estate finance, payment, and cash management. Additionally, he is skilled in investment banking, covering debt capital markets, equity capital markets, project finance, and advisory services. Abdelaal also possesses knowledge in Islamic banking, retail banking, and portfolio management. His expertise extends to global market products, structured trade, and supply chain solutions, highlighting his versatile skill set in navigating complex financial environments. Abdelaal holds an MBA from the University of London, UK, obtained from the London Business School. He is also a graduate of the Harvard AMP Programme and holds a Bach- elor’s degree in Economics and Political Science with a major in Economics from the Faculty of Economics and Political Science at Cairo University, Egypt. About Mashreq Mashreq is currently implementing artificial intelligence (AI) across its operations, with a particular focus on leveraging AI technologies to drive positive outcomes. A key project within this initiative involves the development of an AI-powered chat- bot that will act as a virtual assistant, offering valuable assis- tance to customers in various banking activities. As part of its digital transformation journey, Mashreq has achieved a significant milestone with the introduction of Mashreq NEO, a comprehensive digital bank tailored to meet the requirements of the online generation. The NEO platform, complete with a user-friendly app, provides a wide array of banking services aimed at improving user experience and accessibility. To expand its digital offerings, Mashreq has launched NEOBiz, a specialised platform catering to start-ups and contributing to the advancement of the UAE’s start-up ecosystem. The bank is actively seeking partnerships with fintech companies and technology platforms to ensure that customers have access to cutting-edge services and solutions tailored to their specific needs. Following a global expansion strategy, Mashreq is strategically concentrating on key markets such as Pakistan and KSA to reinforce its digital banking pres- ence and drive long-term growth and digitisation efforts in these promising markets. Mashreq’s net profit surged to $544m in the first quarter of 2024, marking a substantial 25 percent increase from the previous year. On a pre-tax basis, the net profit reached $626m, reflecting a 36 percent year-on-year rise. This growth in operating income and net profit can be largely attributed to a 23 percent increase in net interest income compared to the previous year. Factors influencing this performance include exceptional business expansion, favourable client margins, prevailing interest rate conditions, and low-risk costs. Furthermore, non-interest income witnessed significant growth, reaching nearly $272m, representing a noteworthy 29 percent increase year-on-year. Demonstrating the bank’s steadfast commitment to strategic priorities centred on client-centricity, operational and financial efficiency, robust risk management, and a people-first culture, these results reflect Mashreq’s strategic initiatives. UAEarabianbusiness.com 13 POWER OF FINANCE 2024 Eraiqat began his journey with ADCB in 2004, mark- ing the start of a distinguished career path within the banking sector. Through the years, he has progressed through the ranks, assuming his current role in February 2009. Drawing on his extensive experience and expertise gained over almost three decades as a banker, he has made significant contributions to the growth and strategic direction of ADCB. With a rich professional history dating back to 1991, Eraiqat’s tenure in the banking industry has been highlighted by notable roles at prestigious financial insti- tutions such as Citibank and Standard Chartered Bank. In addition to his role as Group CEO, Eraiqat takes on additional responsibilities that demonstrate his multifaceted leadership within the organisation. He serves as the Chairman of the Board of Directors of Al Hilal Bank, further demon- strating his dedication to driving strategic initiatives and over- seeing the growth of affiliated entities. Moreover, Eraiqat oversees a range of subsidiaries and committees within ADCB, including key entities such as Abu Dhabi Commercial Prop- erties and Abu Dhabi Commercial Engineering Services. His leadership extends to chairing key committees within the institution, such as the ADCB Management Executive Committee and the ADCB Management Credit Committee, where his vision and decision-making skills help shape the bank’s operational framework. Beyond his responsibilities within ADCB, Eraiqat's influ- ence extends to the wider financial and business landscape in Abu Dhabi. As a board member of the Abu Dhabi Chamber, he plays a crucial role in guiding strategic initiatives that promote economic growth and development within the region. Additionally, he acts as the Chairman of the Abu Dhabi Chamber Audit & Compliance Committee and holds a board membership at Abu Dhabi National Hotels PJSC (ADNH), where his expertise contributes to the organ- isation's strategic direction and governance. About ADCB ADCB has witnessed a significant surge in its value over the last year, recording an impressive 8.7 percent increase to reach $2.86 billion by the year 2024. This remarkable growth was underscored by a recent report from Finance Brand, a leading global consultancy specialising in brand valuation. Steered by Eraiqat’s leadership, the bank was acknowl- edged as one of the top 10 financial institutions in the world. ADCB ranked as the top financial institution for customer experience excellence and the second across all sectors in the latest annual survey conducted by KPMG Lower Gulf. A holistic approach to customer satisfaction, combining excellent services, diverse product offerings, technological innovation, operational efficiency, and a strong focus on security and trust has enabled ADCB to earn the top slot, according to KPMG’s annual Customer Experience Excellence (CEE) report. The bank has continuously invested in advanced technol- ogy to support its growing customer base while recognising the importance of personal interaction with customers. As part of ADCB’s focus on building a future-ready bank, it continues to invest significantly in its digital transformation programme driving scalable growth, higher productivity, and enhanced customer experience. ALA’A MOHAMED ATTA KHALIL ERAIQAT Group CEO Abu Dhabi Commercial Bank (ADCB) UAE14 June 2024 POWER OF FINANCE 2024 CHRISTOPH KOSTER CEO Ruya Bank The CEO of ruya Bank, the UAE’s digital-first Islamic community bank, Koster has been developing financial services and investment platforms for banks, governments, and tech companies since November 2023. Alongside his team at ruya, he is advocating for a more sustainable world through ethical Islamic banking practices, exemplary customer service, and community engagement. In October 2021, Koster began his career with G42, a prominent AI & Cloud Computing company in Abu Dhabi, dedicated to improving daily life through people and technol- ogy. He served as Vice President of Investment Strategy & Investor Relations, overseeing the division responsible for the group’s proprietary investment strategy, governance, and investor relations. Subsequently, he assumed the role of Vice President of Portfolio Management, where he managed the asset portfolio of the group’s operating businesses. He served as the Chief Operating Officer of G42 Joint Venture, holding a position on the executive committee and overseeing the company’s operational functions. Before his tenure at G42, Koster held a senior manage- ment position at Abu Dhabi Investment Office (ADIO), where his team played a crucial role in enhancing Abu Dhabi's global investment presence. He led award-winning strategy and customer experience teams within Emirates NBD’s Private Banking, Asset Management, and Retail Banking divisions. During his time at Emirates NBD, the Private Banking sector became the leading wealth management franchise in the region. He commenced his career in the restructuring and turnaround practice at Roland Berger, an international consulting firm, and later worked in the corporate develop- ment and M&A team of a renewable energy conglomerate. A digital-first Islamic bank Ruya Bank operates without the need for physical documents, embodying social responsibility and supporting the local community. Based in Ajman, UAE, Ruya was established with the vision of modernising Islamic finance by integrating advanced technology with the principles of Islamic banking. Launched in 2024, this innovative player in the financial sector is officially authorised by the Central Bank of the UAE and sets itself apart by delivering a digital banking experience rooted in fairness, transparency, and social responsibility. With a strong community focus, ruya prioritises assistance for families, entrepreneurs, and small businesses. ruya ensures transparency, fairness, and social responsibility in all its services while promoting inclusivity through policies like no minimum balance and no hidden fees, reinvesting in the communities it serves. While the digital platform and app are key in attracting the initial clientele, ruya aims to be a 'digital first bank', supported by its network of community centres, serving as the physical branches. By positioning ruya as a transparent and community-oriented Sharia-compliant lender, this innovative hybrid banking model leverages the UAE’s status as the world's fourth-largest Islamic finance hub, with Islamic finance assets accounting for 23 percent of total banking assets in the coun- try. The bank aims to offer ethical Islamic banking services to existing UAE banking customers and cater to young adults transitioning to their first bank accounts. UAEarabianbusiness.com 15 POWER OF FINANCE 2024 DR. BERND VAN LINDER CEO Commercial Bank of Dubai (CBD) Dr. van Linder embarked on his journey with the Commercial Bank of Dubai (CBD) in January 2017, marking a significant milestone in his career trajectory. Prior to his tenure at CBD, he honed his expertise at ABN AMRO in the Netherlands, where he gained invaluable experience in the banking sector. His jour- ney in the GCC region commenced with his role as the General Manager Treasury of Saudi Hollandi Bank, where he demonstrated exemplary leadership and strategic acumen. Recognised for his remarkable contributions, Dr. van Linder was appointed as the CEO of Saudi Hollandi Bank in 2009, a testament to his dedication to the banking industry. He boasts a wealth of experience in retail, commercial, and corporate banking, as well as a stellar track record in treasury, risk management, and leading strategic change processes. Dr. van Linder holds a PhD in Artificial Intelligence from the University of Utrecht, Netherlands, and a Master of Business Administration degree in Financial Management from the University of Bradford in the UK. About Commercial Bank of Dubai (CBD) Commercial Bank of Dubai (CBD) was founded in 1969 via an Emiri Decree issued by the late Sheikh Rashid bin Saeed Al Maktoum. In 1982, CBD achieved a significant milestone by transitioning into a national shareholding company, which entailed a major operational reorganisation and a boost in capital base. This marked a pivotal moment in the bank’s histor y as the Dubai gover nment emerged as the majority shareholder. Throughout the years, CBD has evolved into a forward-thinking and contempo- rary banking establishment. Presently, the bank offers an array of retail and commercial banking products and services in both conven- tional and Shariah-compliant formats. CBD reported an impressive net profit after tax figure of $190m for the first quarter of 2024, reflecting a 21.9 percent increase (on a pre-tax basis, the growth stands at 33.9 percent) compared to the corresponding period in 2023. Robust growth in loans and current and savings accounts (CASA) supported a strong net interest result, reinforced by non-funded income that more than offset the corporate tax charge. In May 2024, CBD broadened its collaboration with Qual- ity Kiosk Technologies (QK), a renowned global provider of reliability engineering solutions, to elevate the bank's digital offerings for its clientele. QK will team up with CBD to estab- lish CBD's Testing Centre of Excellence (TCoE), an extensive digital transformation initiative designed to modernise the bank's technology infrastructure. This strategic partnership aims to enable predictive risk mitigation, enhance quality engi- neering efficiency, and boost productivity, all in alignment with CBD’s overarching goal of delivering cutting-edge digital banking services. The partnership was unveiled at the Dubai FinTech Summit 2024 and follows a successful year of cooperation between CBD and QK. The collective achievements of these projects have solidified a strong partnership, leading to Qual- ity Kiosk's selection as the exclusive quality and reliability engineering partner for CBD’s TCoE. UAE16 June 2024 POWER OF FINANCE 2024 ELHAM MAHFOUZ CEO Commercial Bank of Kuwait (CBK) With an extensive career span- ning over 35 years in the banking industr y , Mahfouz’s journey began as a credit analyst and has been marked by illustrious positions within Kuwait’s finan- cial sector. Her tenure includes senior lead- ership roles such as acting general manager of International Banking, showcasing her acumen for steering strategic initiatives across global operations. Her expertise and leadership prowess led to her appointment as the general manager of International Banking in December 2010, underscoring her adeptness in driving international financial strategies. Extending beyond organisational boundaries, Mahfouz’s professional trajectory at CBK has been transformative. Assuming the mantle of deputy CEO in April 2012, she exemplified a commitment to excellence and vision that culminated in her promotion to the position of CEO in November 2014. As the visionary leader at the helm of one of Kuwait’s premier financial institutions, Mahfouz has been instrumental in shaping CBK’s trajectory, steering it towards sustained growth and innovation. Her leadership acumen and visionary approach have been instru- mental in positioning CBK as a key player in Kuwait’s dynamic financial ecosystem. Beyond her role as CEO, Mahfouz’s oversight extends to key departments such as retail banking, treasury, and corporate credit, reflecting her multifaceted leadership capabilities and strategic vision. Renowned as one of Kuwait’s most influential women, her robust industry experience and unwavering dedi- cation to excellence have been instrumental in propelling CBK to new heights of success and relevance in the ever-evolving financial landscape. About Commercial Bank of Kuwait (Al Tijari) CBK, as one of Kuwait’s largest financial entities, holds a prominent retail and corporate banking presence in the region. Established in June 1960, CBK is a robust corporate and retail banking franchise, providing innovative financial and invest- ment solutions to its expanding clientele. The bank has become a key financial supporter, facilitating loans for numerous power, construction, and prominent infrastructure projects within Kuwait. The bank aims to transition into “the digitised bank of choice, offering innovative banking solutions tailored to customers’ lifestyles, and promoting environmental and social sustainability.” According to Global Finance’s Safest Bank rankings, the National Bank of Kuwait is the country’s Safest Bank and the fourth Safest Bank in the Middle East. As one of Kuwait’s largest banks with approximately $119bn in assets, it also ranks 54th among the Safest Commercial Banks worldwide and 17th among the Safest Emerging Market Banks. In February 2024, CBK and Network International (Network), the leading facilitator of digital commerce across the MEA region, announced an intention to strategically collab- orate to significantly enhance CBK’s ongoing digital transfor- mation and payment innovation endeavours. The partnership signifies a major milestone in the digital transformation journey of Al Tijari. CBK will harness Network’s cutting-edge technol- ogy and expertise in end-to-end issuer processing capabilities, encompassing fraud detection and prevention, tokenisation, cardholder self-service application, advanced authentication, and instant issuance. Network International’s local and regional proficiency in digital payments and financial inclusion aligns perfectly with Al-Tijari’s vision. KUWAITarabianbusiness.com 17 POWER OF FINANCE 2024 FAZEELA GOPALANI Head of Middle East Association of Chartered Certified Accountants (ACCA) Since assuming her role in April 2019 as Head of Middle East, ACCA, Gopalani has played a key role in oversee- ing operations across 11 countries, representing a diverse community of over 20,000 students, affiliates, and members throughout the region. A central aspect of her work involves addressing challenges in the accounting field, highlight- ing global concerns such as sustainability, audit regulation, digi- tal innovation, and promoting gender diversity in finance. In a significant step forward in 2023, her leadership facil- itated a Memorandum of Understanding (MoU) with the Egyptian Minister of Higher Education and Scientific Research and the Secretary-General of the Supreme Council of Universities. This collaboration aims to innovate the finan- cial accounting curricula across Egyptian universities, setting a new standard in academic excellence. Before her tenure at ACCA, Gopalani served as a senior manager within PwC’s Academy Middle East. Her exceptional performance and leadership qualities led to her promotion to head of ACCA Middle East in April 2019. Under her guid- ance, her team has actively engaged with government entities, regulatory bodies, academic institutions, and industry leaders to underscore the critical role and advantages of careers in accounting and finance. In 2021, a collaboration was estab- lished with the DIFC Academy to nurture and advance the accounting and taxation professions within the UAE, comple- mented by PwC’s efforts in training over 8,000 finance profes- sionals in partnership with ACCA. She is also a board member and finance director across institutions such as the Kings School Al Barsha, where she contributes her expertise to enhance educational standards and foster academic excellence. Moreover, she serves on the advisory boards of the University of Birmingham and LANA Technology, where her financial acumen drives innovation in academia and technology. Additionally, she is involved with the Sparkle Foundation in the UAE, where she actively supports initiatives to empower underprivileged children in Malawi. About ACCA Beyond upskilling individuals with professional qualifications, ACCA Middle East has been pushing to encourage more women into the finance and accountancy profession. The Women in Finance programme, which commenced in 2022, aligns with Sheikh Mohammed bin Rashid Al Maktoum’s Gender Inequality Index initiatives. Globally, ACCA is made up of 49 percent female members and students, but for the Middle East, numbers are lower. However, in December 2023, ACCA opened an office in KSA and recruited its first female Saudi employee to run the office. In 2023, it introduced Women in Finance to Oman, and in 2024, it plans to take a roadshow across the UAE, Oman, Qatar, and Bahrain. Recently, ACCA global unveiled its latest membership figures of 252,500, taking its membership to above a quarter of a million following decades of strong growth. ACCA has played a leading role in widening the scope of accountancy to encompass strategy, sustainability, and broader profes- sional skills. It also works to share its global insights and expertise to contribute to thriving economies and a more sustainable future for all. UAE18 June 2024 POWER OF FINANCE 2024 HANA AL ROSTAMANI Group CEO First Abu Dhabi Bank (FAB) Appointed to her role as Group CEO at FAB in 2021, Al Rostamani has been driving innovation and transforma- tive initiatives in her distinguished career spanning more than 25 years. She has emerged as a trailblazer and shattered barriers as the first female CEO of a UAE-based bank. As the head of one of the world’s largest and most reputable financial institutions, with assets exceeding $300bn, her commitment to fostering a culture of innovation, diversity, and inclusion within FAB is testament to her leadership as a pioneering female CEO in the UAE banking industry. In her current role as chair of the Global Council on the Sustainable Development Goals, Al Rostamani focuses on development goal 7, ‘Affordable and Clean Energy’. She also serves as a board member of prominent organisations such as Buna, aimed at enhancing investment ties among Arab econ- omies. Additionally, she holds positions on the boards of the Institute of International Finance (IIF), the International Institute for Management Development (IMD), and the exec- utive board of the US-UAE Business Council. Previously, Al Rostamani served as the Deputy Group Chief Executive Officer and Group Head of Personal Banking at FAB. In this capacity, she led the transformation of FAB’s consumer banking segment, emphasising a customer-centric and digi- tal-first approach. With prior experience in diverse roles within First Gulf Bank, Citibank, and AW Rostamani Group, both domestically and internationally, she brings a wealth of expertise and insight to her current leadership role at FAB. About FAB First Abu Dhabi Bank (FAB) has reported a strong net profit of $1.1bn and revenue of $2.1bn for the first quarter of 2024, reaffirming the bank's sustained growth trajectory. The bank's impressive performance is evidenced by an 18 percent year-on-year increase in revenue to $2.1bn , driven by core operational expansion, balance sheet growth, improved Net Interest Margin (NIM), and solid non-funded income (NFI) generation. FAB has been awarded the Best Eco-Loyalty Initiative by the prestigious International Loyalty Awards 2024 for its purpose-driven loyalty programme, in partnership with Collinson Group. Through Collinson’s loyalty engine, custom- ers can engage in initiatives like Give A Ghaf Tree Planting and Project REEFrame coral reef programme, and redeem eco-friendly products from the Green Ecostore in the FAB Rewards Shop. The collaboration between FAB and Collinson ensures a diverse range of rewards programmes that allow users to benefit from a variety of activities, including personal loans, mobile and online banking services, maintaining account balances, and using debit and credit cards. In January 2024, FAB completed the issuance of a $800m five-year Sukuk at US Treasury +85bps, achieving an all-in yield of 4.779 percent. This landmark Sukuk issu- ance represents the first globally in 2024 and marks the initial offering in the region for the year. With a focus on diversity, the allocation of this Sukuk saw 76 percent directed toward dedicated Islamic investors and 38 percent toward international counterparts. UAEarabianbusiness.com 19 POWER OF FINANCE 2024 HISHAM AHMED ALRAYES Group CEO and Board Member GFH Financial Group Hisham Alrayes, as the Group CEO of GFH Financial Group BSC (GFH), orchestrates the firm’s expansive global investment strategy, setting a benchmark in the financial sector. With a dynamic tenure spanning over 25 years, his strategic vision has propelled GFH into a period of remarkable growth and diversification. Under his leadership, the Group has fortified its presence in critical markets, seizing opportunities and navigating complex challenges with robust strategies. His expertise is further leveraged through his directorships at various organisations, including Esterad Investment Company, Khaleeji Bank, GFH Capital, GBCorp, and Infracorp. Alrayes holds an MBA with honours from the DePaul University, Chicago (USA), and a Bachelor’s Degree in Engineering with honours from the University of Bahrain. Accelerating growth With $20.6bn in total assets and assets under management (AUM), a $5.1bn treasury portfolio, and a high calibre team of over 820 professionals, GFH is a dynamic financial group operating in the GCC region, with investments spanning the globe. The Group offers a diverse range of services and boasts a stellar reputation. Headquartered in Bahrain Financial Harbour and listed on four GCC stock exchanges, GFH is consistently among the region’s most actively traded stocks. The first quarter of 2024 yielded positive results for the Group, driven by strong performance from its investment banking business, treasury, proprietary investments, and commercial banking activities. Alrayes has mapped out an aggressive growth strategy for 2024, targeting strategic acquisitions and deepening market penetration, especially in the US and key GCC markets like Saudi Arabia. Emphasising sectors aligned with Saudi Arabia’s Vision 2030, GFH is enhancing its investments in healthcare, education and logistics to support regional development. The Group has also evolved its focus on thematic invest- ing in defensive sectors with strong long-term fundamen- tals, and its expansion in 2024 will be fuelled by both organic and inorganic growth through new investments and the acquisition of funds, portfolios, and other financial insti- tutions. With an eye towards enriching its investment portfo- lio and expanding its financial services, Alrayes underscores GFH’s evolution from an investment bank into a leading regional financial group, a transformation that underscores GFH’s commitment to fostering an expansive international footprint and a robust portfolio that promises sustained growth and stability in the financial markets. Having entered 2024 with a solid foundation, Alrayes is committed to propelling GFH along an upward trajectory, ensuring the delivery of substantial value to shareholders and investors. BAHRAINNext >