fi nancemiddleeast.comJune 2025 | 3 If Shark Tank has taught us anything, you don’t need a perfect pitch. You need a real problem, a bold solution and the courage to back yourself. Entrepreneurship is no longer a niche across boardrooms and basements, kitchens and co-working spaces, it’s a movement. In this edition, we celebrate the founders who dared to dream. Some bootstrapped their way to sustainability, and others landed seed funding with just a prototype and persistence. What they share is not just business savvy but resilience, the kind that bounces back from rejection, pivots when needed and keeps building when no one’s watching. The Middle East’s startup scene is buzzing louder than ever, fuelled by a generation of creators solving uniquely local problems with global ambition. From fi ntech to foodtech, the region’s entrepreneurs are setting the pace. And let’s not forget: even the sharks were once minnows. Barbara Corcoran started with a $1,000 loan. Mark Cuban sold trash bags door-to-door. Their stories remind us that entrepreneurship isn’t reserved for the lucky. It’s built by persistence. So whether you’re ideating your next big thing or mentoring the next wave, this issue is for you. Here’s to those who build without a map and inspire the rest of us to follow. I hope you enjoy the magazine. Nivetha Dayanand Editor YALE’S FINANCIAL MARKETS (Coursera) Learn how markets work, what drives risk and behaviour and how institutions function. Taught by Nobel Laureate Robert Shiller, this course builds a strong foundation in modern fi nance. FINANCE FOR EVERYONE (University of Michigan, edX) Designed for non-fi nance professionals, this course explores how money moves, how to read fi nancial statements and how fi nance drives business strategy. INTRODUCTION TO CORPORATE FINANCE (Wharton, Coursera) The course covers the fundamentals of valuation, capital budgeting and fi nancial decision-making. A must for aspiring founders, consultants and anyone managing capital in real-world business scenarios. TOP 3 FREE FINANCE COURSES TO TRY THIS SUMMER EDITOR’S LETTER FME_June2025_3_Editor Letter_13617069.indd 3FME_June2025_3_Editor Letter_13617069.indd 328/05/2025 19:2028/05/2025 19:20fi nancemiddleeast.com4 | June 2025 22 16 30 32 YOU’VE JUST RAISED YOUR FIRST ROUND OF FUNDING–NOW WHAT? Capital in hand, the focus shifts to execution—strategy, structure and setting up for growth POWERING A CASHLESS FUTURE Mastercard’s Adam Jones on how West Arabia is scaling access and securing the digital economy HOW FLEXIBLE MODELS ARE TRANSFORMING PRODUCTIVITY AND TALENT ACQUISITION IN THE UAE Continuing to promote and implement fl exible working models will enhance productivity and talent attraction for companies WHY THE MIDDLE EAST IS BECOMING A GLOBAL LAUNCHPAD FOR STARTUPS Strong policy, young talent and founder momentum are reshaping the region into a serious startup contender 30 32 22 16 FME_June2025_4-5_Contents_13617070.indd 4FME_June2025_4-5_Contents_13617070.indd 404/06/2025 18:5704/06/2025 18:57fi nancemiddleeast.comJune 2025 | 5 46 42 52 54 WHAT HAPPENS TO YOUR GRATUITY WHEN YOU RESIGN OR GET FIRED IN THE UAE? Gratuity is not just an exit payment but part of a broader fi nancial architecture UAE SHIFTS FROM CLIMATE DIPLOMACY TO CAPITAL DEPLOYMENT With COP30 in Brazil on the horizon, the UAE Environment Minister emphasised the importance of transparent national climate commitments MENA STARTUP FUNDING RISES TO $228 MILLION IN APRIL Saudi Arabia led the region by a wide margin, with $158.5 million raised across eight deals BREAKING DOWN THE BLOCK How tokenisation is rewiring asset ownership 42 5246 54 FME_June2025_4-5_Contents_13617070.indd 5FME_June2025_4-5_Contents_13617070.indd 504/06/2025 18:5704/06/2025 18:57fi nancemiddleeast.com6 | June 2025 PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Web: www.itp.com Offices in Abu Dhabi, Dubai, London, Mumbai, Riyadh & Geneva ITP MEDIA GROUP CEO: Ali Akawi Managing Director: Martin Chambers Head of Business and Technology: Thomas Shambler EDITORIAL Editor: Nivetha Dayanand Tel: +971 4 444 3887 email: nivetha.dayanand@itp.com Project Editor: Heather Cichowski Tel: +971 4 444 3271 email: heather.cichowski@itp.com Associate Project Editor: Beatriz Valero Tel: +971 4 444 3413 email: beatriz.valero@itp.com Commercial Editor: Angitha Pradeep Tel: +971 4 444 3278 email: angitha.pradeep@itp.com ART Art Director: Amjad Ayche Art Editor: Tofi q Memon ADVERTISING Group Publishing Director: Natasha Pendleton Tel: +971 4 444 3248 email: natasha.pendleton@itp.com Senior Commercial Manager: Ines Ben Rejeb Tel: +971 4 444 3223 email: ines.benrejeb@itp.com PHOTOGRAPHY Senior Video Editor: Liju Cheruvathur MARKETING Head of Events: Eleanor Ashton email: eleanor.ashton@itp.com Events & Marketing Manager: Kate Galaktionova Events Manager: Beverly Stanforth Associate Events Manager: Vrinali Nazareth Associate Events Manager: Maria Trishina Events Executive: Ella Johnson Events Sales Executive: Jan Mokoala Events Sales Assistant: Joyce Salonga Events Administrative Assistant: Bobbie Rosario PRODUCTION & DISTRIBUTION Senior Production & Distribution Manager: Balasubramanian P Production Manager: Anand Sundaram Distribution Coordinator: Avinash Pereira Circulation Executive: Rajesh Pillai ITP GROUP CEO: Ali Akawi CFO: Toby Jay Spencer-Davies The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. 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PUBLISHED BY AND © 2025 ITP MEDIA GROUP FZ-LLC. 6 | June 2025 To fl ip through previous editions of Finance Middle East magazine, visit fi nancemiddleeast.com/magazine/ 6 | June 2025 FME_June2025_6_Flannel_13617071.indd 6FME_June2025_6_Flannel_13617071.indd 628/05/2025 19:2128/05/2025 19:21Stay ahead with ITP Media’s flagship technology hub, featuring five powerhouse brands: ARABIAN COMPUTER NEWS, EDGE, COMMSMEA, CHANNEL and CHARGED. From breaking tech news to deep-dive insights, we bring you the latest innovations shaping the region. AN ITP MEDIA GROUP PUBLICATION BEST TECH OF 2024 The ultimate guide to the year’s must- have gadget s CATERER FP.indd 1CATERER FP.indd 104/06/2025 11:4304/06/2025 11:43fi nancemiddleeast.com8 | June 2025 ONLINE The World Bank has opened applications for its Saudi Fellowship Program, off ering Saudi professionals a one- year paid placement in Washington or regional offi ces to work on global development projects. UBS is setting up in Abu Dhabi to expand its regional footprint and tap into rising private wealth infl ows, driven by global tax migration. The emirate’s millionaire population has surged 80% in 10 years. Saudi Arabia’s Flynas priced its IPO at SAR 80 per share, raising $1.1 billion. The off ering was nearly 100 times oversubscribed. Retail subscriptions run May 28–June 1 ahead of Tadawul listing. ADNOC has signed AED 6 billion ($1.64 billion) in agreements with 12 UAE manufacturers to locally produce cables and pressure vessels, creating up to 1,300 jobs and advancing its AED 200 billion in-country value programme. WHAT’S TRENDING ONLINE www.f inancemiddleeast .com Applications for Saudi fellowship open UBS to open Abu Dhabi Office Flynas IPO attracts $109 billion in bids ADNOC inks AED 6 billion in supply deals WHAT OUR READERS THINK... World Bank’s Saudi fellowshipInside the GCC’s booming luxury economy “Fantastic opportunity for Saudi talent to contribute to global development” - Javier Saavedra Martínez of EUREKA Corporate Group Getting approval from Abu Dhabi’s FSRA is a huge step towards mainstream crypto acceptance in the UAE” - Mickael Canu of Fondateur FME_June2025_8-9_Online DPS_13625706.indd 8FME_June2025_8-9_Online DPS_13625706.indd 804/06/2025 18:5904/06/2025 18:59fi nancemiddleeast.comApril 2025 | 9 TECHNOLOGY Ajman Bank reported a record AED 440 million profi t before tax in 2024, reversing its previous year’s loss through disciplined balance sheet management, digital expansion and operational effi ciency. CEO Mustafa Al Khalfawi attributed the turnaround to focused strategies across commercial, government and consumer banking, underpinned by strong risk governance and cost control. The bank is targeting growth in SME fi nancing, wealth management and green fi nance, aligning with broader UAE goals for fi nancial inclusion and sustainability. MUSTAFA AL KHALFAWI: “OUR VISION IS TO BE ONE OF THE FAVOURITE FINANCIAL SERVICES BRANDS IN THE ENTIRE REGION” fi nancemiddleeast.comJune 2025 | 9 ONLINE FME_June2025_8-9_Online DPS_13625706.indd 9FME_June2025_8-9_Online DPS_13625706.indd 904/06/2025 18:5904/06/2025 18:59Next >