fi nancemiddleeast.comNovember 2025 | 3 What is the defi nition of a true leader? It’s a big question, especially in the fi nance sector where the industry is evolving at a dizzying pace with digital-fi rst strategies, turbulent markets and expanding regulations. To successfully lead, you need expert knowledge across multiple platforms and countries, a forward-thinking plan and boldness to execute a vision. We’re thrilled to present our 2025 Top Banking Leaders – GCC Edition. The fi nal list celebrates the most infl uential CEOs, Group Executives and Banking Chairs leading the charge across the region. From legacy institutions to fascinating digital challengers, this list recognises pioneers who are redefi ning what it means to lead a bank today by leveraging technology, mitigating risks and delivering impressive returns. Speaking of leaders, e& Group CFO Karim Bennis discusses resilience and growth across multiple markets. With record results and a truly global footprint, e& is proving that disciplined capital allocation and strategic diversifi cation can deliver growth, even in volatile markets. One topic that has been on everyone’s minds is gold, as prices continue to climb. Experts weigh in on whether now is the right time to invest in gold jewellery and compare it to other investment options. We strive to leave you with answers that help you make the most informed decisions, whether it’s in investing, breaking into new markets or being inspired to make that next move. Until next time. The Finance Middle East team KNOW YOUR INVESTMENT OBJECTIVES The fi rst step is to defi ne your investment goals. Consider key points such as diversifi cation or infl ation hedging. CONSIDER TYPES OF GOLD INVESTMENTS Think about diff erent ways to invest in gold, such as physical gold, gold ETFs or gold mining stocks. DON’T FORGET ABOUT DIVERSIFICATION Gold might be trending, but you should ensure any gold investments are part of a well-diversifi ed portfolio. THREE THINGS TO CONSIDER WHEN INVESTING IN GOLD EDITOR’S LETTER FME_Nov2025_3_Editor Letter_13730752.indd 3FME_Nov2025_3_Editor Letter_13730752.indd 302/11/2025 18:3302/11/2025 18:33fi nancemiddleeast.com4 | November 2025 10 8 14 18 WHAT’S HAPPENING IN THE REGION From Saudi Arabia’s foreign direct investment increase to Egypt’s thriving startup scene, these are the key headlines to have on your radar SINGAPORE AND UAE LEAD GLOBAL CHARGE IN CRYPTOCURRENCY ADOPTION Both regions are leading digital fi nance, with Singapore taking the top position thanks to its residents’ escalating ownership of digital assets STABLECOINS SURGE AHEAD, BUT ARE WE OVERLOOKING THE CRACKS BENEATH THE HYPE? The UAE is preparing to issue a fully regulated dirham-backed stablecoin AROUND THE GULF Launches, breakthroughs and power plays from across the region, from the new Qatar Financial blockchain-based proof of concept to Oman launching a climate fi nance platform 8 18 10 14 FME_Nov2025_4-5_Contents_13730753 _V2.indd 4FME_Nov2025_4-5_Contents_13730753 _V2.indd 403/11/2025 15:3503/11/2025 15:35fi nancemiddleeast.comNovember 2025 | 5 28 20 52 54 2025 TOP BANKING LEADERS This special GCC edition celebrates the executives steering the region’s fi nancial future by leveraging technology, managing risk and delivering returns HOW E& IS BUILDING A HEDGED GROWTH ENGINE FOR THE NEXT CYCLE As e& achieves record results and a truly global footprint, Group CFO Karim Bennis shares how resilience is being built, one market at a time STARTUPS NEED BANKS THAT MOVE AS FAST AS THEY DO For startups and businesses in general, the quality of banking services can make the diff erence between thriving and surviving GOING FOR GOLD As gold prices continue to rise, there’s one question everyone is asking: Is buying gold jewellery still a smart investment? Experts weigh in 5254 20 28 FME_Nov2025_4-5_Contents_13730753 _V2.indd 5FME_Nov2025_4-5_Contents_13730753 _V2.indd 503/11/2025 15:3503/11/2025 15:35fi nancemiddleeast.com6 | November 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 Project Editor: Heather Cichowski Tel: +971 4 444 3271 email: heather.cichowski@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 Senior Events Manager: Kate Galaktionova 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 | November 2025 To fl ip through previous editions of Finance Middle East magazine, visit fi nancemiddleeast.com/magazine/ 6 | November 2025 FME_Nov2025_6_Flannel_13730756.indd 6FME_Nov2025_6_Flannel_13730756.indd 602/11/2025 18:4602/11/2025 18:46BIG PICTURE fi nancemiddleeast.com8 | November 2025 SINGAPORE AND UAE LEAD GLOBAL CHARGE IN CRYPTOCURRENCY ADOPTION The UAE impresses with a 25.3% ownership rate among its citizens FME_Nov2025_8-9_Big Picture_13732243.indd 8FME_Nov2025_8-9_Big Picture_13732243.indd 802/11/2025 18:4402/11/2025 18:44BIG PICTURE fi nancemiddleeast.comNovember 2025 | 9 Singapore and the United Arab Emirates (UAE) are topping the charts for global cryptocurrency adoption, according to a new study by ApeX Protocol. Both regions are spearheading the charge into digital fi nance, with Singapore taking the lead with a score of 100 thanks to its residents’ escalating ownership of digital assets and high level of interest shown through online searches. Meanwhile, the UAE is hot on its heels, showcasing rapid adoption growth boosted by national eff orts to integrate blockchain and crypto solutions. Singapore has witnessed a sharp spike in its citizens’ crypto craze. Just a year ago, only 11% of its population were holding digital coins, but that fi gure has now more than doubled to 24.4%. This is not just about ownership, though. Singaporeans appear to be crypto-obsessed, with around 2,000 crypto-related searches per 100,000 inhabitants, marking the highest such activity worldwide. The country’s approach in forming solid regulatory frameworks and promoting fi ntech innovations seems to be paying off by instilling trust and paving the way for retail and institutional investor participation. The UAE, scoring slightly less than Singapore with 99.7, impresses with a 25.3% ownership rate among its people. Government initiatives in Dubai and Abu Dhabi are drawing crypto fi rms, thanks largely to supportive regulatory measures such as the Dubai Virtual Assets Regulatory Authority (VARA). The UAE’s focus on becoming a global blockchain hub is mirrored in its willingness to host major exchanges while ensuring regulatory compliance, marking it as a potential frontrunner in the space. The rise of cryptocurrency use in these regions ties closely with their broader fi nancial aspirations. In the UAE, a robust remittance market complements its goal to cement crypto’s role in day-to-day transactions, whether as an investment or a method of cross-border payments. The country’s signifi cant expat population further enhances this appeal for fi nancial independence and convenience. Other nations are ramping up their crypto pursuits. The United States, ranked third, boasts over 30,000 crypto ATMs and has seen a 220% rise in adoption since 2019. In Canada, crypto use grew by an impressive 225%, maintaining a solid infrastructure with over 3,500 ATMs. Türkiye also shines with 19.3% of its population engaging in crypto activities despite economic challenges. FME_Nov2025_8-9_Big Picture_13732243.indd 9FME_Nov2025_8-9_Big Picture_13732243.indd 902/11/2025 18:4502/11/2025 18:45Next >