fi nancemiddleeast.comAugust 2025 | 3 There’s something about summer. Everyone says it’s too hot, and they’re right, but longer days and shorter working hours give us time to do more. Whether that’s learning a new skill, signing up for an AI course or simply planning your next trip, there’s space to reset. In our newsroom, though, we’re picking up the pace. The second half of the year is shaping up to be a busy one, kicking off with the 2025 edition of the Finance Middle East Awards. It’s already shaping up to be our biggest yet. We’ve broken our own nomination records by a wide margin. That theme of record-breaking brings me to our cover interview with Khattab Abu Qaoud, CFO of Parkin. The company’s IPO, spun out of Dubai’s RTA, drew an oversubscription rate of 165 times, the highest ever on the Dubai Financial Market. Shares jumped 35% on debut, with over 175 million traded on the fi rst day. What makes Parkin’s story so compelling is not just the numbers, though they’re impressive, but the strategy behind them. And in this issue, Khattab walks us through it. I hope you enjoy the magazine. Nivetha Dayanand Editor SINGAPORE 68.7 jobs per million Singapore ranks fi rst by a wide margin. It’s home to over 700 Web3 companies and processed $1 billion in crypto payments in Q2 2024. Clear regulations and a strong ecosystem have made it the leading hub for crypto talent. HONG KONG 28.5 jobs per million Despite recent regulatory shifts, Hong Kong remains a major crypto jobs hub. Its strategic position in Asia continues to attract fi rms and talent. Scan the QR code to read the full list LUXEMBOURG 37.8 jobs per million Europe’s fi nancial centre secures second place. Firms like Bitstamp, BitFlyer and BitPanda have set up headquarters there, supported by Luxembourg’s large fund sector and crypto-friendly environment. TOP GLOBAL HOTSPOTS FOR A CRYPTO CAREER EDITOR’S LETTER FME_Aug2025_3_Editors letter_13669354.indd 3FME_Aug2025_3_Editors letter_13669354.indd 330/07/2025 14:0730/07/2025 14:07fi nancemiddleeast.com4 | August 2025 24 16 30 32 TAX TEST The UAE’s corporate tax regime forces private equity funds to rethink structures and governance IPO PLAY How Parkin’s record-breaking IPO redefi ned Dubai’s equity playbook SAUDI’S NEW WAVE OF CEOS How Saudi Arabia’s new CEOs are reshaping leadership with cultural and strategic focus THE TAX IMPLICATIONS OF M&A DEALS From cash fl ows to net returns, tax considerations can impact various fi nancial aspects of a merger or acquisition 24 30 32 16 FME_Aug2025_4-5_Contents_13669311.indd 4FME_Aug2025_4-5_Contents_13669311.indd 401/08/2025 09:5101/08/2025 09:51fi nancemiddleeast.comAugust 2025 | 5 38 34 46 52 TRADING ON INTELLIGENCE From predictive analytics to ethical dilemmas, a panel of industry leaders delves into the complex role of AI in trading ALTERED LANDSCAPE Sovereign investors shift strategy amid rate volatility and geopolitical realignment THE BITCOIN PRINCE How Philip, Hereditary Prince of Serbia, became Bitcoin’s greatest advocate CRACKING THE CODE In a world of remote banking and rising breaches, SandboxAQ’s Marc Manzano argues that visibility, regulation and quantum-safe encryption are mission-critical 4652 38 34 FME_Aug2025_4-5_Contents_13669311.indd 5FME_Aug2025_4-5_Contents_13669311.indd 530/07/2025 14:1130/07/2025 14:11fi nancemiddleeast.com6 | August 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 Manager: Beverly Stanforth Events Manager: Gavin Moeketsi Associate Events Manager: Vrinali Nazareth Associate Events Manager: Maria Trishina 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 | August 2025 To fl ip through previous editions of Finance Middle East magazine, visit fi nancemiddleeast.com/magazine/ 6 | August 2025 FME_Aug2025_6_Flannel_13669312.indd 6FME_Aug2025_6_Flannel_13669312.indd 630/07/2025 14:1630/07/2025 14:16fi nancemiddleeast.com7 | April 2025 ARE YOU BUILDING THE NEXT BIG THING IN FINTECH? From digital banking to blockchain innovation, the Gulf is emerging as a fintech powerhouse—and at the heart of it are the founders transforming ideas into impact. Finance Middle East is spotlighting the leaders shaping the future of finance across the GCC. Nominate to be included in Finance Middle East’s Top Fintech Founders list FINTECH FOUNDERS GCC’S TOP SCAN THE QR CODE TO NOMINATEfi nancemiddleeast.com8 | August 2025 ONLINE As Gulf-based families and institutions navigate increasing complexity across regulatory regimes, jurisdictions and family dynamics, the relevance of these legacy instruments has only grown. Vintage technology and throwback brands are turning into personal, high-yield investments, with nostalgia driving new trends in today’s digital world. Experts say the pathway to long-term security begins with disciplined saving, diversifi ed investments and a strategy that adjusts with age and risk tolerance. In an economy as dynamic and credit-reliant as the UAE’s, understanding and maintaining your credit score is essential. WHAT’S TRENDING ONLINE www.f inancemiddleeast .com Trust and Waqfs Nostalgia as an investment Save to retire Improve your credit score WHAT OUR READERS THINK... Emirates to take crypto payments Middle East is becoming a global launchpad for startups “The move by Emirates to accept crypto payments could really shake up the airline industry.” - Mickael Canu, Tech entrepreneur “Really enjoyed reading this piece—it’s clear the Middle East is evolving into a global launchpad for startups.” - Chintan Bhagat, Hedge Fund Manager FME_Aug2025_8-9_WEB DPS_13669277.indd 8FME_Aug2025_8-9_WEB DPS_13669277.indd 828/07/2025 15:1428/07/2025 15:14fi nancemiddleeast.comAugust 2025 | 9 TECHNOLOGY Cryptocurrencies have evolved from fringe experiments into a core topic of monetary debate. In the UAE, where ambition meets pragmatism, the rapid advance of digital fi nance poses an urgent question: How can a state foster fi nancial innovation without compromising its monetary sovereignty or fi nancial stability? It’s a challenge that few nations can aff ord to ignore and one the UAE is attempting to meet head-on. “Cryptocurrency is regulated and operating outside the control of the central bank,” said Dr Ahmed Allam, Senior Financial Expert at the HH Ruler’s Court of Dubai. “Cash infl ow and cash outfl ow are not monitored. That limits the ability of the central bank to apply one of its main tools to control the money supply, which is the interest rate.” DR AHMED ALLAM: IN THE COMING YEARS, CRYPTO WILL COEXIST WITH FIAT CURRENCY fi nancemiddleeast.comAugust 2025 | 9 ONLINE FME_Aug2025_8-9_WEB DPS_13669277.indd 9FME_Aug2025_8-9_WEB DPS_13669277.indd 901/08/2025 09:4901/08/2025 09:49Next >