December 2025

News, Reviews and Analysis.

News, Reviews Reviews and andAnalysis.

Analysis.

News,

December Issue 2025

May - June Issue September Issue2021 2023

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Honoring Unemployment Excellence: Insurance and The Aviation Emiratisation Law Innovation a LandmarkAwards Step to Boost Business 2025in UAE

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Celebrating the Visionaries Elevating the Future 15 of Aviation

Middle East News

Middle East News

Logistics

Leading British digital logistics company Zencargo launches operations in the UAE to expand in MENA

Aldar partners with Nikki Beach Global to bring branded waterfront residences to Ras Al Khaimah

Hotpack celebrates milestone achievement of reaching 50 retail stores across the MEA

NURTURING THE BUSINESS AND STARTUP ECOSYSTEM BlackRock Partners Paribu Acquires Al-Futtaim Logistics: News

News

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Spotlight on: Imad Kazzaz

with AWS to Bring in Türkiye’s/ GEOFF Driving Innovation NEIL PETCH /CoinMENA GEORGE HOJEIGE RAPP Aladdin to a Secure Largest Cross-Border Across the GCC Supply and Scalable Cloud Trade and Development Fintech Deal Chain World Forum to mobilize Environment investments for climate, energy, health and food

News 06 | Aviation Innovation Awards 2025 12 |

Aviation Innovation Awards 2025 Highlights 13 | Partner Content 26

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Introduction Introduction

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elcome to this special issue of MEA Business, dedicated to celebrating the Aviation Innovation Awards. At MEA Business, we are committed to delivering comprehensive business news across the Middle East and Africa. Our mission is to provide a dynamic platform where business leaders can share ideas, engage in meaningful debates, and forge strategic partnerships that will shape the future of the region.

Our goal is to equip business leaders and professionals with the skills and insights they need to thrive in these dynamic regions. By focusing on positive news stories, detailed case studies, and inspiring interviews, we aim to foster a narrative of growth and success.

MEA Business magazine offers clear and concise information through various sections, including up-to-the-minute news, market updates, and exclusive CEO interviews. Our readers benefit from a comprehensive blend of our printed magazine, e-magazine, and social media content, providing coverage on the latest developments in the Middle East and Africa.

Additionally, MEA Business proudly features several sector specials throughout the year, tailored to coincide with major industry exhibitions and events.

We hope you find this issue both informative and inspiring.

Kenneth Mitchen

Publisher, MEA Business

Kenneth Mitchen

Publisher, MEA Business

mea-biz.com

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CONTENTS CONTENTS

NEWS MIDDLE EAST with 06NEWS B lackRock Partners Bring Aladdin to a 6 AWS Aldartopartners with Nikki Secure and Scalable Cloud Beach Global to bring Environment branded waterfront 07 U AE Takes Major Leap in residences to Ras Al Aviation Decarbonisation Khaimah with First SAF Testing and Certification Laboratory in 7 Leading British digital Fujairah logistics company Zencargo 08 P launches aribu Acquires operations in the CoinMENA in Türkiye’s UAE to expand in MENA Largest Cross-Border Fintech Deal AVIATION ANNUAL GALA EVENING ADVERTORIAL 109 A The l-Futtaim Logistics: Aviation Annual Gala Driving Innovation Across Evening is Back the GCC Supply Chain AVIATION ACHIEVEMENT THE AVIATION INNOVATION AWARDS AWARDS 2025 1212 HAviation onoringAchievement Excellence: The Aviation Awards 2023 Innovation Awards 2025 LOGISTICS 13 The Aviation Innovation 2025 Highlights 14 Awards Emirates SkyCargo advances itsINNOVATION digital customer THE AVIATION experience with CargoAi AWARDS 2025 WINNERS

10 24 MEA Business WEB: www.mea-biz.com MEA Business www.mea-hr.com WEB: www.mea-biz.com EMAIL:www.mea-hr.com info@cme-media.com EMAIL: info@cme-media.com PUBLISHED BY: Creative Middle East Media FZ LLE, 19th Floor, Creative Tower, Fujairah PO East Box 4422, UAE th PUBLISHED BY:Creative CreativeCity, Middle MediaFujairah, FZ LLE, 19 Floor, Creative EXECUTIVE DIRECTOR AND PUBLISHER : Kenneth Mitchen Tower, Fujairah Creative City, PO Box 4422, Fujairah, UAE Email: ken.mitchen@mea-finance.com EXECUTIVE DIRECTOR AND PUBLISHER : Kenneth Mitchen Email: ken.mitchen@mea-finance.com

1414 AHotpack irport Industry Award celebrates milestone –achievement New Technology of reaching 50 Innovation retail stores across the MEA 14 Airport Industry 14 Exceptional Etihad CargoSupervision ramps up cargo capacity for China Agent Service Innovation

14 Aviation Training - Most Innovative Aviation Training Service 15 Air Cargo and Logistics New Product/Service launch Innovation Achievement Award 15 Enduring Legacy - 75 Years of Excellence & Innovation Award 15 Best Air Ambulance Provider – Middle East 16 Aviation Industry - Innovative Infrastructure Development Award

21 Aviation Maintenance & Airworthiness - Exceptional Product/Services Innovation Award 21 Best MRO Service Provider 21 Business Aviation – Exceptional Product/Services Innovation Award ADVERTORIAL 22 BytzSoft Technologies – Redefining Digital Aviation INTERVIEW

16 Aviation Industry - Sustainability Innovation Award – Future Sustainability Model

24 Envirotainer: Advancing ColdChain Pharma Logistics

16 Aviation Finance Innovations - Ground-breaking products/ services Innovation Award

26 How a Joint Venture is Making Frankfurt Airport Smarter with Artificial Intelligence

18 Innovation Vanguard in Private Aviation Award

27 Mayfair Jets Honoured with Innovation Vanguard in Private Aviation AwardArtificial Intelligence

18 Airline Industry – Innovation in In-Flight Digital Experience 18 Business Aviation – Innovation in Flight Support Services 19 Airport Industry Innovations Operational Excellence Award 19 Most Innovative Air Ambulance Service 19 Business Aviation Innovation - New Technology Innovation Award 20 Aviation Finance - Most Innovative Service Award 20 Aviation Finance - Collaborative Finance Solutions Innovation Award 20 Airline Industry - Innovative Collaborations and Partnerships Award

PARTNER CONTENT

MARKET FOCUS - UNITED ARAB EMIRATES 28 Banking on Momentum, Building for Scale TAX STRUCTURING 32 TAX STRUCTURES FOR FAMILY OFFICES: How to Prepare for What Comes Next?

PARTNER CONTENT 34 INSIDE THE WORLD OF INVESTMENT MIGRATION: EquityGlobal Mobility and Wealth Strategy AI IN BANKING 36 FROM PILOTS TO PURPOSE: The Real Story of AI Adoption in Middle East Banking

News

BlackRock Partners with AWS to Bring Aladdin to a Secure and Scalable Cloud Environment A major collaboration between BlackRock and Amazon Web Services expands hosting options for Aladdin clients by delivering enhanced flexibility, performance, and security across the global investment technology landscape, marking a pivotal step in multi-cloud innovation and client-driven digital transformation.

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lackRock and Amazon Web Services (AWS) have announced a major strategic partnership that will significantly expand cloud hosting choices for clients of BlackRock’s Aladdin platform. The collaboration marks an important step in the evolution of one of the world’s most widely used investment management technologies, offering institutional investors a new level of flexibility, scale, and operational control.

Aladdin, which is recognised globally for its ability to unify risk analytics, portfolio management, and operational tools into a single technology ecosystem, will now be accessible on AWS’s secure and high performing cloud infrastructure.

This move strengthens BlackRock’s long standing focus on providing clients with freedom in how they deploy and integrate Aladdin within their organisations.

By enabling Aladdin to run on AWS, clients will be able to select the hosting environment that best fits their internal requirements and long term strategies.

According to Sudhir Nair, Senior Managing Director and Global Head of Aladdin at BlackRock, institutional clients are increasingly seeking open and adaptable platforms that integrate seamlessly with modern operating models. He explained that extending Aladdin to AWS represents a significant step in delivering multi cloud capabilities. The cloud agnostic design of Aladdin ensures that clients can access consistent functionality and analytical depth regardless of the hosting infrastructure they choose.

Scott Mullins, Managing Director of Worldwide Financial Services at AWS, emphasised that the partnership brings together two decades of AWS experience

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supporting mission critical financial workloads with the advanced portfolio management capabilities of Aladdin. He noted that clients using Aladdin on AWS will benefit from a secure and resilient environment that supports advanced risk modelling, enterprise analytics, and enhanced investment decision making. At the same time, the collaboration ensures that clients maintain strong security and compliance across their operations.

Amazon Treasury will be one of the first organisations to adopt Aladdin on AWS as part of its efforts to manage the company’s global investment portfolio with greater scale and flexibility. Broader availability for Aladdin Enterprise clients in the United States is expected in the second half of 2026, marking the beginning of a rollout that is likely to extend to other markets in the future.

AWS continues to position itself as a

Business News for the MEA region

leading cloud provider for the financial services industry. With a strong focus on customer driven innovation, operational excellence, and long term development, AWS has grown into one of the most influential technology platforms in the enterprise sector. Its expanding global infrastructure and comprehensive suite of artificial intelligence capabilities have enabled millions of organisations to modernise their technology ecosystems and accelerate digital transformation.

The partnership between BlackRock and AWS represents a powerful alignment of technology, scale, and financial expertise.

With Aladdin now expanding into a multi cloud future, clients will gain more freedom than ever before in designing the investment management infrastructure that supports their ambitions

UAE Takes Major Leap in Aviation Decarbonisation with First SAF Testing and Certification Laboratory in Fujairah MENA Biofuels and Saybolt International join forces to establish a state-of-the-art Sustainable Aviation Fuel testing and certification hub, strengthening the UAE’s SAF value chain and advancing national Net Zero goals.

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ENA Biofuels, part of the Mercantile & Maritime Group, has signed a landmark agreement with Saybolt International to establish the UAE’s first independent Sustainable Aviation Fuel (SAF) testing and certification laboratory in Fujairah. The milestone announcement follows a series of high-level engagements at ADIPEC 2025, marking a significant step toward building a fully integrated SAF ecosystem from feedstock to certified fuel delivery.

The move demonstrates the growing momentum generated by ADIPEC 2025, which has accelerated collaboration across the region’s clean-energy value chain. The partnership cements MENA Biofuels’ strategy to reinforce the UAE’s role as a regional leader in sustainable-fuel innovation, aligning closely with both the Sustainable Aviation Fuel Roadmap 2030 and the UAE’s Net Zero 2050 Vision.

The new laboratory will be located in the Fujairah Oil Industry Zone (FOIZ), a strategic energy hub that positions Fujairah to become a centre of excellence for SAF production, quality verification, and export-ready certification. Operating under internationally recognised standards, the facility will offer independent testing, verification, and lifecycle-emissions certification for UAE-produced SAF, ensuring compliance with global aviationfuel benchmarks for domestic use and international markets.

H.E. Mohamed Saeed Al Raqbani, Chairman of MENA Biofuels, emphasised the importance of transparency and trusted verification in the emerging SAF sector.

“The partnership with Saybolt International reinforces our commitment to building a transparent and globally trusted SAF ecosystem. Establishing this laboratory in Fujairah ensures that every litre of SAF produced in the UAE is tested, verified,

and certified to the highest international standards.”

Gati Al Jebouri, CEO of MENA Biofuels, highlighted the key momentum built over the past year. “This collaboration reflects the tangible progress achieved since ADIPEC 2025, bringing together technology, expertise, and shared purpose to ensure the UAE’s SAF meets global benchmarks for quality and sustainability.”

Saybolt International, part of Core Laboratories Inc., brings nearly 90 years of global expertise in testing, inspection, and certification. Peter Boks, President of Saybolt, noted that the Fujairah facility will play an essential role in establishing a strong analytical foundation for SAF in the region. “The new laboratory will be equipped with advanced instrumentation and operate under internationally recognised standards, enabling precise characterisation of SAF properties, traceability of feedstock origins, and verification of lifecycle emissions. By providing independent certification and quality assurance, Saybolt aims to support regulatory compliance, facilitate global trade, and underpin the integrity of the UAE’s SAF value chain.”

The agreement builds on a series of strategic partnerships announced by MENA Biofuels at ADIPEC 2025 and the Dubai Airshow. These include offtake MoUs with Emarat, ENOC, ADNOC, and Evertree, creating a comprehensive framework that spans feedstock, production, certification, and distribution. Collectively, these initiatives are positioning the UAE as a leading global player in aviation decarbonisation.

MENA Biofuels is currently developing the UAE’s first commercial SAF production facility in Fujairah. Using used cooking oil and other waste-based feedstocks, the project is expected to contribute between 18 and 36 percent of the UAE’s 2030 SAF targets. The new laboratory strengthens this mission, ensuring that Fujairah emerges as a regional hub for clean-fuel innovation, certification excellence, and export-grade quality assurance.

As global aviation accelerates its transition toward low-carbon fuels, the UAE’s investment in SAF infrastructure underscores its commitment to shaping a more sustainable future for the industry, at home and across international markets. mea-biz.com

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News

Paribu Acquires CoinMENA in Türkiye’s Largest Cross-Border Fintech Deal The strategic USD 240 million acquisition expands Paribu’s regulated footprint from Türkiye into the MENA region.

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ürkiye’s leading digital asset platform, Paribu, has completed the country’s largest fintech transaction and its first crossborder digital asset platform acquisition, extending its regulated footprint from Türkiye into the MENA region. The deal, valued at up to USD 240 million, marks a major milestone for both Paribu and the broader digital finance ecosystem.

The acquisition of CoinMENA, one of the largest local crypto exchanges in the Middle East and North Africa (MENA), highlights the ongoing consolidation of the global digital asset industry, as established regional players seek greater scale, regulatory strength, and broader market reach.

Through this acquisition, Paribu will expand its operations beyond Türkiye into a region with high crypto adoption.

CoinMENA, licensed by Dubai’s Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain, provides Paribu with access to two active digital asset licenses. This positions Paribu as one of the region’s few regulated multijurisdiction operators, supporting its strategy of compliance-driven growth and market expansion.

Paribu is among Türkiye’s most prominent fintech and digital asset companies, following a growth roadmap focused on regulatory compliance, product innovation, and geographic expansion.

In 2024, the company launched Paribu Custody, Türkiye’s first and only digital asset custody provider, powered by its proprietary multi-layered security technology, ColdShield®. In October 2025, Paribu received authorization from the Capital Markets Board (CMB) to establish a brokerage firm, marking its entry into the capital markets. The CoinMENA acquisition further reinforces Paribu’s position as a regional fintech leader.

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Founded in 2020 by Talal Tabbaa and Dina Sam’an, CoinMENA is a licensed crypto asset service provider operating under Bahrain and Dubai regulatory authorities.

The platform has raised nearly USD 20 million from investors including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. Today, CoinMENA serves over 1.5 million users across 45 countries, offering access to more than 50 cryptocurrencies and supporting multiple local currencies throughout the MENA region.

Yasin Oral, Founder and CEO of Paribu, said: “This transaction is a turning point not only for Paribu but also for the digital asset and broader finance ecosystem in Türkiye and the MENA region. With this acquisition, we have expanded our licensed operations to a wider geography, becoming a regulated player in one of the world’s most cryptoadoptive markets. We are proud to lead Türkiye’s largest fintech acquisition and its first international digital asset platform deal.”

Business News for the MEA region

“CoinMENA, the leading local crypto exchange in the MENA region, is an ideal partner for our regional expansion,” Oral added. “With this step, we are opening a new chapter in Paribu’s growth journey, extending our presence into the MENA region and contributing to the ongoing consolidation of the global digital asset industry.”

Talal Tabbaa and Dina Sam’an, Co-Founders of CoinMENA, said: “The MENA digital asset market continues to grow and mature, and joining forces with Paribu will accelerate that momentum. By combining CoinMENA’s regional expertise with Paribu’s technology, we are poised to develop a comprehensive suite of digital asset products for users across Türkiye and the MENA region. This acquisition is the most transformative milestone in CoinMENA’s history. Paribu’s investment validates the strength of what we have built, and together we aim to set new standards for access and innovation in the region’s digital asset space.”

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Al-Futtaim Logistics: Driving Innovation Across the GCC Supply Chain Under Dr. Raman Kumar’s leadership, Al-Futtaim Logistics leverages advanced technology, strategic infrastructure, and regional expertise to deliver seamless, sustainable, and future-ready logistics solutions across the GCC. A Strategic Force in Regional Logistics In the fast-evolving logistics sector of the UAE and the wider GCC, Al-Futtaim Logistics, led by Dr. Raman Kumar, has become a cornerstone of operational excellence and strategic foresight.

Leveraging Dubai’s position as a global trade hub, the company has earned a reputation for adaptability, innovation, and sustainability—qualities critical in today’s dynamic economic environment.

Dubai’s emergence as a world-class logistics hub is no accident. Its strategic location, robust infrastructure, and progressive regulatory framework have positioned the emirate as a gateway for global trade. With an ambitious target of AED 32 trillion economic impact by 2033, Dubai continues to expand trade corridors, reinforcing its role as a key link between East and West.

Al-Futtaim Logistics ranks among the top providers in the Middle East, excelling in sectors such as automotive, aerospace, and retail. Its extensive storage facilities and advanced fleet enable seamless operations across industries, while its supply chain network spans over 150 countries, supported by strategically located regional hubs. Services include: • Global freight forwarding • Cross-border transport • Specialized cargo handling From automotive and aerospace to engineering and retail, Al-Futtaim Logistics offers tailored solutions for complex supply chains. Its capabilities include cold storage for food and pharmaceuticals and the safe handling of dangerous goods, aligning with the UAE’s national re-export ambitions.

Navigating Industry Challenges The logistics industry faces challenges such as fuel price volatility, supply chain

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D r. Raman Kumar disruptions, and the pressing need for workforce digital upskilling. Al-Futtaim addresses these through automation, strategic partnerships, and a customercentric approach, ensuring resilience and continuity.

Recent tariffs have disrupted traditional trade routes, prompting businesses to diversify sourcing strategies. Al-Futtaim Logistics has responded by enhancing its

Business News for the MEA region

multimodal capabilities, ensuring flexibility and efficiency in navigating new corridors.

Looking ahead, the company is expanding into Saudi Arabia, Kuwait, and Oman, focusing on aerospace MRO and AOG logistics. Digital transformation remains central, with investments in AI-driven solutions and real-time optimization technologies delivering smarter, faster, and more sustainable logistics services.

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The Aviation Innovation Awards 2025

Honoring Excellence: The Aviation Innovation Awards 2025 Celebrating the Visionaries Elevating the Future of Aviation The Aviation Innovation Awards 2025 brought together leaders and innovators from across the global aviation sector to honour the advancements reshaping the industry. Held on November 19th, this year’s ceremony showcased the forward-thinking organisations and individuals driving meaningful progress in aviation technology, safety, training, logistics, and operations.

Recognising excellence across a wide range of categories, the awards highlighted cuttingedge achievements—from breakthrough technologies and smart airport solutions to transformative air cargo systems and pioneering training partnerships. Each winner demonstrated a strong commitment to innovation, efficiency, and the future readiness of the aviation ecosystem.

As we present this special feature, we spotlight the standout performers whose ideas and initiatives are redefining industry standards. Their work strengthens the aviation sector’s resilience and competitiveness while inspiring the next generation of aviation professionals.

Category

Winner

Airport Industry Award – New Technology Innovation

AI@Bag

Airport Industry - Exceptional Supervision Agent Service Innovation

Avia Maldives

Aviation Training - Most Innovative Aviation Training Service

Dynamic Advanced Training LLC

Air Cargo and Logistics - New Product/Service launch Innovation Achievement ENVIROTAINER (RELEYE RKN) Award Enduring Legacy - 75 Years of Excellence & Innovation Award

F/List

Best Air Ambulance Provider – Middle East

FAI Aviation Services DMCC

Aviation Industry - Innovative Infrastructure Development Award

Gama Aviation

Aviation Industry - Sustainability Innovation Award – Future Sustainability Model

General Directorate of Residency and Foreigners Affairs – Dubai (GDRFA Dubai)

Aviation Finance Innovations - Ground-breaking products/services Innovation International Airfinance Corporation (IAFC) Award Innovation Vanguard in Private Aviation Award

Mayfair Jets

Airline Industry – Innovation in In-Flight Digital Experience

Panasonic Avionics Corp

Business Aviation – Innovation in Flight Support Services

Prime Trip Support DMCC

Airport Industry Innovations - Operational Excellence Award

Riyadh Airports Company

Most Innovative Air Ambulance Service

THC

Business Aviation Innovation - New Technology Innovation Award

Ultramain System

Aviation Finance - Most Innovative Service Award

Emirates NBD

Aviation Finance - Collaborative Finance Solutions Innovation Award

Emirates NBD

Airline Industry - Innovative Collaborations and Partnerships Award

e& and Etihad Airways

Aviation Maintenance & Airworthiness - Exceptional Product/Services Innovation PRIMUS AVIA Award Best MRO Service Provider

ETIHAD ENGINEERING

Business Aviation – Exceptional Product/Services Innovation Award

BYTZSOFT TECHNOLOGIES PRIVATE LIMITED

Airport Industry Innovations - Sustainability Innovation Award

Airport International Group Foundation

Airport Industry – Innovation in Express Cargo Infrastructure

Bahrain Airport Company

Business Aviation (Passenger & Cargo) – Innovation in Regional Service Expansion Chapman Freeborn

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The Aviation Innovation Awards 2025

Airport Industry Award – New Technology Innovation AI@Bag AI@Bag uses advanced computer vision to detect carry-on baggage at central checkpoints, improving passenger flow, boarding efficiency, and operational planning. This innovation enables data-driven decisions, smoother travel experiences, and sets a global benchmark for airport operations.

Airport Industry - Exceptional Supervision Agent Service Innovation Avia Maldives

Avia Maldives transformed general aviation in the Maldives through technology-driven supervision, flexible 24/7 staffing, and high-quality VIP handling. The judges praised the organization for improving operational standards and delivering superior service across multiple airports in the region.

Aviation Training - Most Innovative Aviation Training Service

Dynamic Advanced Training LLC Dynamic Advanced Training delivers immersive, reality-based programs including fire, hypoxia, and water-survival training. Their 2025 expansion into Dangerous Goods courses and 24/7 flexible delivery demonstrates operational excellence, innovation, and a strong impact on aviation safety training.

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Air Cargo and Logistics - New Product/Service launch Innovation Achievement Award ENVIROTAINER (RELEYE RKN) Envirotainer’s active temperature-controlled containers, including the RELEYE RKN, ensure safe transport of pharmaceuticals worldwide. With carbonoffset initiatives and SBTi compliance, the company combines innovative cold-chain solutions, monitoring services, and global logistics expertise for reliable pharma delivery.

Enduring Legacy - 75 Years of Excellence & Innovation Award F/List F/LIST celebrated 75 years of innovation in luxury interior and aerospace furnishings. From a small carpentry shop to a global brand, the company is renowned for custom craftsmanship, technological innovation, and commitment to high-quality design in aviation interiors.

Best Air Ambulance Provider – Middle East FAI Aviation Services DMCC

FAI Aviation integrates advanced medical equipment, rapid-response logistics, and expert crews. With 800 missions in 12 months and EURAMI CAME accreditation, FAI sets benchmarks in air-ambulance services, leveraging digital mission platforms and operational excellence for patient care.

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The Aviation Innovation Awards 2025

Aviation Industry - Innovative Infrastructure Development Award Gama Aviation Gama Aviation developed the Sharjah Business Aviation Centre, combining luxury design, advanced MRO infrastructure, VVIP terminals, and fast-access logistics. This facility supports jets, helicopters, and future eVTOL operations, raising operational standards and service excellence in the UAE.

Aviation Industry - Sustainability Innovation Award – Future Sustainability Model General Directorate of Residency and Foreigners Affairs – Dubai (GDRFA Dubai) GDRFA Dubai implemented sustainable practices across aviation infrastructure, integrating efficient operations, eco-friendly design, and future-focused models. Their initiatives advance environmental responsibility and demonstrate a scalable framework for sustainable growth in aviation services.

Aviation Finance Innovations - Ground-breaking products/ services Innovation Award International Airfinance Corporation (IAFC) IAFC advances aviation finance through innovative, client-focused solutions, leading initiatives in the Abu Dhabi Global Market. Their strategic, regulated ecosystem fosters regional and global investment impact, positioning IAFC as a leader in aviation financial services.

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Business News for the MEA region

The Aviation Innovation Awards 2025

Innovation Vanguard in Private Aviation Award Mayfair Jets Mayfair Jets provides global aviation solutions including private and scheduled charters, flight support, and aircraft acquisition. Operating across multiple regions, it combines airline-like operational discipline with broad fleet networks, delivering reliable, scalable, and innovative aviation services worldwide.

Airline Industry – Innovation in In-Flight Digital Experience Panasonic Avionics Corp

Panasonic Avionics launched its Modular Interactive platform with Riyadh Air, enabling real-time, personalized in-flight content updates. Cloud-based tools allow airlines to dynamically engage passengers, test campaigns, and respond instantly to trends, redefining the digital passenger experience in-flight.

Business Aviation – Innovation in Flight Support Services

Prime Trip Support DMCC Prime Trip Support expanded its global footprint with 24/7 integrated trip support, covering ground handling, fuel uplift, and permits. Their clientcentric platform provides seamless end-to-end aviation support, setting new standards in operational efficiency and service excellence in business aviation.

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Airport Industry Innovations - Operational Excellence Award Riyadh Airports Company Riyadh Airports Company enhanced operational efficiency and passenger experience through strategic expansions, infrastructure upgrades, and innovative air service initiatives. Projects included new airlines, destinations, lounges, PBBs, and parking systems, setting a benchmark for excellence aligned with Saudi Arabia’s Vision 2030.

Most Innovative Air Ambulance Service The Helicopter Company (THC)

THC’s HEMS program, in partnership with the Saudi Red Crescent, saved 5,500+ lives with rapid emergency response. Featuring 15 bases, 14 helicopters, and advanced medical systems, the service supports religious tourism and ensures safety for pilgrims during Hajj and beyond.

Business Aviation Innovation - New Technology Innovation Award Ultramain Systems

Ultramain Systems’ iPad-based Electronic Log Book digitizes aircraft technical records for flight crews and maintenance teams. Its reliable, intuitive interface and adaptable GUI improve operational efficiency, streamline compliance, and enable responsive support, transforming aircraft record-keeping in business aviation.

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The Aviation Innovation Awards 2025

Aviation Finance - Most Innovative Service Award Emirates NBD Emirates NBD provided innovative finance lease solutions for IndiGo’s aircraft acquisitions, supporting fleet expansion, network growth, and aviation infrastructure development in India. The bank’s strategic, client-focused financial innovation enhances operational capabilities and strengthens airline sector growth.

Aviation Finance - Collaborative Finance Solutions Innovation Award Emirates NBD

Emirates NBD structured innovative collaborative aviation financing, enabling fleet expansion for Emirates Airline and IndiGo. Their client-focused, largescale solutions demonstrate strategic partnerships, regulatory excellence, and financial innovation, setting benchmarks in aviation finance across the region.

Airline Industry - Innovative Collaborations and Partnerships Award

e& and Etihad Airways e& and Etihad Airways integrated loyalty programs to enable cross-platform rewards, points transfer, and lifestyle services. This collaboration enhanced member benefits, customer engagement, and SMB-focused solutions, setting a new benchmark in aviation loyalty partnerships and brand synergy.

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Aviation Maintenance & Airworthiness Exceptional Product/Services Innovation Award PRIMUS AVIA PRIMUS AVIA revolutionized aircraft technical management through operational efficiency, predictive digital maintenance, and clientcentric service. Its innovative approach reduces AOG, ensures regulatory compliance, integrates advanced technology, and sets new benchmarks in business aviation airworthiness standards.

Best MRO Service Provider

ETIHAD ENGINEERING

Etihad Engineering secured the award for its exceptional operational scale, successfully delivering over 200 aircraft annually. Their strategic facility expansion, including new widebody hangars, alongside comprehensive global MRO solutions, reinforces their leadership in aviation maintenance innovation.

Business Aviation – Exceptional Product/Services Innovation Award BYTZSOFT TECHNOLOGIES PRIVATE LIMITED BytzSoft’s FlyPal platform transforms business aviation with AI-driven crew rostering, predictive SMS, integrated flight and maintenance management, and real-time decision-making. The system improves operational efficiency, regulatory compliance, and safety, delivering future-ready solutions for global aviation operators.

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Advertorial

BytzSoft Technologies – Redefining Digital Aviation A Global Leader in Practical, Reliable and Intelligent Aviation Software Solutions

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or more than two decades, BytzSoft Technologies has been a trusted name in aviation software, supporting airlines, MROs, CAMO organizations, FTOs, charter operators, and various aviation service providers. The company began with a simple idea—make aviation operations easier through practical, reliable, and intelligent technology. Over the years, that idea has grown into a global presence across Asia-Pacific, the Middle East, Africa, and Europe, with customers who rely on BytzSoft for accuracy, dependability, and genuine operational understanding.

At the center of the company’s product line is FlyPal, a comprehensive suite designed to support the full lifecycle of aircraft, crew, and operational control. FlyPal is known for being stable, scalable, and aligned with international aviation requirements, including those of EASA, FAA, DGCA, GACA, GCAA, and CASA. Its flexible, modular design allows it to serve both small operators and multi-base fleets with equal efficiency.

FlyPal’s airworthiness and maintenance platform has become one of its standout strengths. The system helps organizations manage MPD tasks, technical records, maintenance forecasting, reliability tracking, MEL oversight, and back-to-birth documentation with clarity and precision.

Engineering teams gain the visibility they need to make timely decisions, reduce downtime, and meet regulatory commitments. With tools for AD/SB tracking, OEM references, and long-term fleet planning, FlyPal brings structure and simplicity to areas that traditionally require heavy manual effort.

Pull-Quote: “FlyPal is designed to simplify aviation operations while giving teams the visibility and tools they need to make timely, informed decisions.”

Its Crew Management and FDTL suite plays an equally important role. The platform assists in planning, rostering,

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training compliance, fatigue-related considerations, and day-to-day readiness.

BytzSoft is currently introducing enhanced, intelligent logic to support more efficient crew assignment while considering crew preferences and regulatory limitations.

The aim is straightforward: help operators ensure they have the right crew available at the right time, without unnecessary complications.

FlyPal further extends into flight operations and training organization management, giving aviation teams a connected digital ecosystem rather than isolated systems.

With a strong cloud-first foundation, FlyPal provides secure and scalable deployments, including dedicated sandbox environments that allow customers to test, learn, and adapt without interrupting live operations.

A major part of BytzSoft’s long-term success comes from its customer-first approach. For 25 years, the team has learned directly from operators—listening to their challenges, refining workflows, and shaping features

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to match the realities of daily aviation work.

This hands-on experience has helped FlyPal address issues ranging from fleet growth and technical discrepancies to audit readiness, operational disruptions, and crew shortages. Today, the platform supports more than 100 organizations across 30+ countries, many of whom have worked with BytzSoft for several years.

Looking ahead, BytzSoft continues to bring thoughtful updates to its products.

The company is developing new tools to enhance operational insight, maintenance planning, and decision-making, ensuring FlyPal remains relevant for the next phase of aviation’s digital evolution.

As BytzSoft is featured in the Aviation Innovation Awards Winners Edition of MEA Business Magazine, the company reaffirms its commitment to building practical, dependable, and forward-looking software that helps aviation organizations operate with confidence and clarity—one improvement at a time.

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Interview

Envirotainer: Advancing Cold-Chain Pharma Logistics Cihan Likogullari, Vice President Sales EMEA at Envirotainer, shares insights on how the company is meeting the growing demand for reliable, temperature-controlled pharma logistics, and the role of innovation and sustainability in cold-chain operations. aviation fuel initiatives to help reduce the footprint of long-haul pharma shipments.

For us, sustainability and reliability are complementary—they strengthen each other.

How is Envirotainer supporting the growing global demand for temperaturecontrolled pharma logistics?

The demand for reliable temperaturecontrolled logistics continues to grow as more therapies become highly sensitive and time-critical. Our priority is making it easier for customers to move these products safely, even across complex routes. That means strengthening access to our global station network, improving fleet availability, and investing in tools that help teams make informed decisions before a shipment even begins.

A recent example is the rollout of Live Monitoring for our RAP e2 units, which gives customers a real-time view of temperature, location, and handling. For logistics teams, this level of visibility means predictable shipments, faster responses, and far greater confidence that the product will arrive exactly as intended.

What innovations are you currently prioritising to enhance cold-chain reliability and efficiency?

Innovation starts with understanding the pressures customers face on the ground, including delays, diversions, and growing volumes of temperature-sensitive shipments. Earlier this year, we added the RelEye RKN to our portfolio, giving customers a smaller, lighter option when flexibility really matters. Its long autonomy and increased loading height mean more product can move in one go, and crucially, it stays protected for longer if plans change mid-route. Real-time visibility also helps teams intervene early if something doesn’t look right.

Beyond that, we’ve continued investing

24 MEABUSINESS

What role does digital monitoring and data analytics play in your cold-chain solutions?

C ihan Likogullari, Vice President Sales EMEA at Envirotainer in enabling live monitoring across more of our active fleet and strengthening the digital tools customers rely on to plan and manage shipments. The goal is to help customers move faster with fewer risks, not to add complexity to already demanding operations.

How is sustainability shaping Envirotainer’s container technology and operations?

We focus on designs that use less energy, reduce waste, and remain in circulation for longer. The RelEye RKN, for example, is lighter than traditional options, lowering emissions per shipment while improving aircraft space efficiency.

We’re also exploring new technologies through partnerships, such as our recent investment in Swiss Airtainer, which added the most sustainable active ULD solution on the market to our portfolio.

On the transport side, we’ve partnered with major carriers on sustainable

Business News for the MEA region

Digital monitoring has become essential.

Instead of discovering an issue only upon arrival, customers can now see temperature, door openings, battery status, location, and more in real time.

This transforms cold-chain operations from reactive to proactive.

Data analytics adds another layer, helping customers understand recurring risks, optimise routes, and streamline pre-conditioning. With thousands of shipments’ worth of data, patterns emerge, enabling teams to prevent problems before they occur.

How does the RelEye RKN container enhance Envirotainer’s cold-chain solutions for pharma logistics?

The RelEye RKN brings more choice and flexibility to the cold chain. It’s built for situations where customers need a smaller, lighter unit without compromising protection. Its extended autonomy safeguards cargo through unexpected delays, while the increased loading height allows more products to move per flight.

Combined with live monitoring and 24/7 support, it gives teams a clearer picture of every stage.

Ultimately, it’s about giving customers practical tools to manage risk, stay agile, and move sensitive medicines with confidence—no matter where they’re going

Partner Content

How a Joint Venture is Making Frankfurt Airport Smarter with Artificial Intelligence FraAlliance Leverages AI to Enhance Efficiency, Passenger Experience, and Operational Reliability

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raAlliance, the joint venture between Lufthansa Airlines and Fraport, is positioning itself as a driving force behind the digital transformation of Frankfurt Airport. As Europe’s third-largest aviation hub, Frankfurt faces growing demands for efficiency, predictability, and seamless passenger experiences.

FraAlliance answers this challenge with a clear mission: to bring artificial intelligence out of the innovation lab and into day-today airport operations—where it creates real, measurable impact.

Across the airport ecosystem, thousands of operational decisions must be made every minute. Traditional approaches based on experience, manual assessments, and staffing buffers are no longer sufficient in an environment shaped by rising passenger numbers, evolving travel behavior, and strict punctuality requirements. FraAlliance focuses on developing intelligent, datadriven solutions that provide transparency, anticipate operational needs, and increase resilience.

A standout example is FraAlliance’s AI@Bag project—an AI-powered carry-on baggage detection system developed jointly with zeroG in collaboration with Lufthansa and Fraport. The award-winning system fundamentally transforms how airports and airlines manage passenger flow, boarding reliability, and flight punctuality.

Unlike conventional systems that act at the gate, AI@Bag shifts critical baggage detection to the security checkpoint.

Using advanced real-time computer vision, it identifies and classifies trolleys, backpacks, and personal items with nearly 100% accuracy. By linking this information to individual passengers, the system allows staff to compare free baggage allowances with actual carry-on baggage brought to the flight.

This early visibility enables truly proactive

26 MEABUSINESS

interventions. Instead of last-minute hand-ins at the gate—often stressful for passengers and staff—baggage issues are resolved well before boarding begins. Excess carry-on baggage can be redirected for loading into the aircraft’s belly, ensuring smoother, faster, and more reliable boarding processes.

For passengers, this creates a more predictable and frictionless experience.

For gate agents, it eliminates one of the most persistent sources of conflict.

Decisions are no longer subjective but based on clear, consistent, data-driven rules—reducing operational stress and enhancing service quality.

From an efficiency standpoint, AI@Bag generates high-quality data, enabling smarter staffing strategies and dynamic resource allocation. With early insight into baggage load and expected passenger flow, airport teams can better anticipate needs, reduce delays, and streamline lastminute flight preparations.

Beyond operational value, AI@Bag represents a milestone in innovation

Business News for the MEA region

culture. It is the first solution of its kind, integrating computer vision, machine learning, and deep process automation across multiple stakeholders. It is fully scalable across terminals and compliant with strict data privacy requirements, making it a blueprint for next-generation airport operations.

FraAlliance’s approach demonstrates how AI can turn longstanding bottlenecks into transparent, automated, and passengerfriendly processes. With solutions like AI@ Bag, Frankfurt Airport is setting a new global standard for airport efficiency and passenger experience.

Mayfair Jets Honoured with Innovation Vanguard in Private Aviation Award Mayfair Jets was recognized with the Innovation Vanguard in Private Aviation Award at the Aviation Innovation Awards hosted by MEA Business, celebrating companies that are driving innovation and excellence in private air travel

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ayfair Jets has been recognized at this year’s Aviation Annual Gala Evening (AAGE 2025) with the Innovation Vanguard in Private Aviation Award, a distinction reserved for companies reshaping the private air travel landscape.

This acknowledgement marks an important milestone for Mayfair Jets.

Over the past year, the company has advanced its charter brokerage model with new efficiencies, stronger operational systems, and a more agile approach to private travel solutions.

The award highlights how these improvements have strengthened Mayfair Jets’ position in a competitive and fast-growing sector.

Mayfair Jets’ rise is driven by a clear focus: delivering reliable, high-quality charter services supported by strong industry partnerships and a global team. The company’s work across key markets—from Europe to the Middle East and Asia—demonstrates its ability to scale while maintaining consistent service across regions.

Mayfair Jets is entering its next phase of growth with confidence, a milestone made possible by the support of its clients, AAGE 2025 recognized Mayfair partners, and dedicated team members.

Jets not only for its commercial performance but also for its ability to operate with the sophistication of an airline while preserving the flexibility of a brokerage. Its expanding scheduled charter programs and continued investment in operational excellence have made a measurable impact across the industry.

The award also reinforces Mayfair Jets’ direction for the coming years. The company is focused on strengthening international collaborations, improving clientfacing technologies, and expanding its network to support growing travel demand.

As the gala evening concluded, one message resonated clearly: Mayfair Jets is entering its next phase of growth with confidence, a milestone made possible by the support of its clients, partners, and dedicated team members

mea-biz.com

27

MARKET FOCUS - UNITED ARAB EMIRATES

Banking on Momentum, Building for Scale The last 12 months have confirmed something the wider MENA financial community has been sensing for a while: the United Arab Emirates has moved from being a dependable Gulf hub to becoming the region’s operating system for finance, capital markets, technology-driven payments and the fastemerging world of digital money

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Business Banking News for the MEA region and Finance news in the MEA market

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combination of solid macro performance, a still-rising nonoil economy, deepening capital markets in both Abu Dhabi and Dubai and an assertive central bank agenda around infrastructure and digital currency has meant that, even as global markets swung between higher-for-longer rates and geopolitical noise, the UAE’s financial story remained one of continuity and execution. The question now is less “Can the UAE grow?” and more “How big can the UAE’s financial services footprint

become across the wider Middle East, Africa and South Asia corridor in the next cycle?”

Growth in the UAE maintains its momentum based on increased oil output, while still counting on non-oil activity to do the bulk of the work. Non-oil GDP now makes up more than three quarters of the economy and is forecast to expand by about 4.5% in 2025, supported by financial services, investment, real estate and tourism. The IMF’s October 2025 read-out largely concurs with this, seeing 4.8% growth and recognising that the UAE’s diversification policies, open commercial environment and aggressive infrastructure spending are creating a floor under activity even when oil prices soften. For banks and capital markets, these macro-economic conditions matter because credit demand will stay positive, and liquidity, which is helped by robust real estate-linked cash flows and inbound capital, will remain plentiful.

This shows up clearly in the banking numbers. The CBUAE’s latest financial stability assessment noted that banks are running with capital adequacy of about 17% and a net non-performing loan (NPL) ratio of just 1.7%, despite loans growth of more than 11% year-on-year by mid2025. These are special circumstances, bringing together fast credit growth and improving asset quality, occurring only when the underlying economy is broad and diversified enough to absorb fresh lending without creating bubbles. The market leaders are translating this into earnings: Emirates NBD, for example, beat expectations in Q1 2025 on the back of double-digit loan growth and a 14% rise in net interest income, even though margins have started to normalise from the 2023 rate-hike peak. Ratings agencies agree — profitability is holding, buffers are high and stress tests suggest that even in challenging circumstances, UAE banks can absorb shocks. In a region where some markets are still dealing with legacy NPLs or exposure to statelinked corporates, that is a genuine competitive advantage.

The engine behind a lot of this confidence is the CBUAE’s multi-year Financial Infrastructure Transformation (FIT) programme, which the Bank said was roughly 85% complete at the start of 2025.

FIT more than a technology upgrade; it is a definitive attempt to provide the UAE with a payments, digital identity, datasharing and settlement stack that can support cross-border trade, instant retail payments, financial inclusion use-cases and the eventual move into tokenised assets. At the centre of that is the Digital Dirham strategy, which the Bank is rolling out in phases — starting with crossborder experiments via the mBridge platform (the world’s first operational multi-CBDC corridor) and then moving

redomiciled entities. The result is that the UAE is still viewed, alongside Saudi Arabia, as the only MENA jurisdiction capable of delivering consistent, large-ticket equity issuance to feed local institutional and family-office demand. Having flexible Securities and Commodities Authority (SCA) rules, an ADGM/DIFC holdingcompany route, and an investor base that increasingly wants yield, growth and governance — including the UAE’s one-woman-on-the-board quota now extended to private joint-stock companies — all helps to widen the addressable pool for IPOs. For UAE banks’ ECM, custody and corporate-banking desks, that translates directly into fee income and higher-quality corporate relationships.

THESE ARE SPECIAL CIRCUMSTANCES, BRINGING TOGETHER FAST CREDIT GROWTH AND IMPROVING ASSET QUALITY

toward broader wholesale and, eventually, retail use. For UAE-based banks, this is material: it means the infrastructure for faster, cheaper corporate payments — especially in trade with Asia — is arriving, and it is arriving under the supervision of a well-capitalised and technology friendly regulator.

Capital markets have also had a quietly significant 12 months. After a very strong 2024, when seven UAE IPOs raised around $6.2 billion across ADX and DFM, 2025 began with talk of another wave — Etihad, Dubizzle and several consumer-tech and hospitality names were flagged — but mid-year volatility saw some issuers becoming more cautious. Even so, Dubai and Abu Dhabi managed to keep the pipeline visible, they kept valuations sensible and regulators continued to refine listing routes for foreign and

If we zoom out to the regional lens, the UAE’s role over the past year has been that of a connector — taking in capital, people and ideas from across the GCC, Pakistan, India and Africa, and packaging them into bankable, regulated products.

In wealth and investment management, DIFC and ADGM continued to compete to bring in global and regional family offices, with both free zones marketing the UAE’s political stability, zero income tax on many structures and proximity to growth markets. That influx is one reason why domestic banks’ deposits kept pace with loan growth. Indeed, strong deposit growth was one of the pillars of the 2025 financial stability report. In trade and corporate banking, the UAE’s positioning as a sanctions-compliant but businessfirst jurisdiction has helped it capture flows that, a decade ago, would have mea-biz.com mea-finance.com

2911

MARKET FOCUS - UNITED ARAB EMIRATES

gone to European or Asian centres. The dirham’s peg to the US dollar continues to reassure treasurers and asset managers, particularly at a time when tariff disputes and a lower-oil-price environment are adding uncertainty elsewhere.

Technology and digital finance are another part of the story. Because the UAE has been willing to run live CBDC pilots, green-light open-finance workstreams and promote fintech-bank collaboration inside the Financial Infrastructure Transformation (FIT) programme, it has become the test bed for regional banks that want to move from “digital channels” to “digital money.” The logic is simple: if you can settle in central-bank money instantly, pull verified customer data through standardised APIs, and do it all in a jurisdiction whose regulators are comfortable with AI-assisted compliance and RegTech, you can design products for Africa, Pakistan or Jordan and run them from Dubai. The central bank’s own documents are quite clear that the Digital Dirham is meant to “future-proof” centralbank money in a digital economy — that is an outward-facing statement, not just a domestic payments one. Bank CIOs in the UAE are budgeting for tokenisation, they are preparing for cross-border CBDC links to Asia, and they are investing in AI to make all of this safe and compliant.

— you can already see NIMs easing even as profits stay high, thanks to volume growth and fee income. Another is around the timing of capital-markets. Issuers are keeping their eyes on global conditions, and this year has already seen one or two listing plans postpones as boards look for better conditions. There is also the macro environment around the UAE to

WHAT HAS BECOME UNMISTAKABLE OVER THE LAST YEAR IS THAT THE UAE IS RUNNING A JOINED-UP STRATEGY consider, with slower growth in the wider MENA region, lower oil prices than the 2022 peak, and tariff-related uncertainty.

All imply that the UAE will have to keep attracting other people’s growth in order to sustain its own. However, these concerns also serve to highlight how diversified the economy of the UAE now is.

When growth in the neighbourhood slows, capital and talent have shown a tendency to migrate to Dubai and Abu Dhabi, not away from them.

HOWEVER, THESE CONCERNS ALSO SERVE TO HIGHLIGHT HOW DIVERSIFIED THE ECONOMY OF THE UAE NOW IS Of course, it has not been a year without some challenges. One is the slowly narrowing interest-rate tailwind.

UAE banks enjoyed record Net Interest Margins (NIM)s through 2023 and early 2024, but by 2025 the margin story is about resilience rather than expansion

30 12 MEABUSINESS

wealth solutions for the new family-office capital setting up in the free zones; more sustainability-linked lending to match the UAE’s COP28-era positioning; and more partnerships between local banks and global fintechs who want a regulated base in the Gulf. There is also a clear need to deepen dirham capital markets — the next stage of the IPO story will be about

Fo r fi nanc ial institutions , the opportunity in the coming 12 months is to convert this national-level momentum into products. There is room for more structured trade and supply-chain finance linked to Asia–GCC flows as mBridge matures; more private banking and

Business Banking News for the MEA region and Finance news in the MEA market

diversity of issuers (more tech, more consumer, more “new economy”), but also about building a secondary-market culture that keeps international money engaged when volatility picks up. The regulators’ willingness to keep tweaking the framework, whether on listing rules, governance or digital assets, suggests they understand this.

What has become unmistakable over the last year is that the UAE is running a joined-up strategy: central bank builds rails; federal and emirate-level governments drive diversification and FDI; free zones attract global finance; banks scale regionally on top of all of that. Because each part is moving in sync, the financial sector has been able to grow fast without flashing red on asset quality, capital or liquidity — something the CBUAE itself highlighted in its September 2025 review. For MEA Finance Magazine readers — bankers, fintech founders, treasury heads, wealth managers — the takeaway is straightforward: the UAE is the one market in the region that is simultaneously growing, opening and modernising its financial infrastructure.

That makes it the natural base from which to serve the rest of the GCC and, increasingly, Africa and South Asia.

We are reducing our environmental footprint Considering the continued growth of the aviation industry and related carbon emissions, our sector needs to become more sustainable.

So as KLM, we are taking responsibility for making our business more sustainable. How? By flying on sustainable fuel, with more efficient routing, with cleaner planes and by recycling our waste.

Learn more about our journey to more sustainable aviation on klm.com/flyresponsibly

TAX STRUCTURING

TAX STRUCTURES FOR FAMILY OFFICES:

How to Prepare for What Comes Next?

Patryk Karczewski Partner, Head of Tax at Amereller highlights the key importance of strict attention to accurate and timely tax administration for family offices operating in the UAE

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he close of September 2025 brought a collective sigh of relief across the UAE’s corporate landscape. For most companies, the first full cycle of corporate tax returns is finally behind them. Months of planning, modelling structures and seeking efficiencies have culminated in a single document, one that formally presents a business’s tax position to the authorities and, in many cases, sets the tone for years to come.

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Yet, just as VAT has taught us over the past eight years, corporate tax in the UAE is a self-assessment regime. This means the tax return is not the end of the process but merely the beginning. Businesses declare their own tax positions, and the Federal Tax Authority (FTA) has full discretion to: – accept those positions, by the passing of time, or following an audit, or – challenge them.

Business Banking News for the MEA region and Finance news in the MEA market

In other words, your first corporate tax return is the opening move, not the final word.

1. A Closer Look at the FTA’s Toolkit The FTA has broad investigative powers designed to verify the accuracy of a taxpayer’s filings.

During an audit, authorities may review: • Your premises and physical assets; • Documents and correspondence; • Electronic data and accounting systems; • Contracts, elections, assessments, and internal calculations; • Any records supporting tax-related decisions.

N o ta b l y, “d o c u m e n t s” ex te n d far beyond financial statements.

This includes emails, management summaries, board minutes, analyses explaining why a certain tax position was taken and records outlining the

commercial rationale for any structure or transaction.

For example, if a business elects to apply the 0% regime for Qualifying Free Zone Persons (QFZPs), the FTA will reasonably expect to see documented discussions, internal presentations or decision memos explaining the business purpose behind the election. These are the first things an auditor will request.

2. The Core Question: Does Your Structure Pass the GAAR Test?

At the centre of the UAE’s corporate tax framework lies the General Anti-Abuse Rule (GAAR). The GAAR acts as a safeguard against arrangements designed mainly or partly, to gain a tax advantage inconsistent with the spirit of the law.

The test is simple in theory but demanding in practice. The FTA will examine whether: 1. A transaction or arrangement has a genuine commercial purpose reflecting economic reality; and 2. The main purpose, or one of the main purposes, was not simply to obtain a corporate tax benefit contrary to legislative intent.

If the FTA concludes that a structure lacks commercial substance or was primarily tax-motivated, it has broad authority to disregard the arrangement entirely, recharacterise transactions and reassess tax liabilities.

For family offices, this introduces new and significant considerations.

3. Why Family Offices Should Pay Attention?

Family offices often operate across multiple entities, investment vehicles, free zones and sometimes foundations.

Many of these structures were created right before the UAE introduced corporate tax and may not have been documented with commercial considerations in mind.

Here are a few scenarios where the GAAR may come into play: - Profit Shifting Within the Group Setting up a new free zone entity to

Patryk Karczewski, Partner, Head of Tax at Amereller

provide “headquarters services” to group members could be perceived as shifting profits into a low-tax QFZP environment. If the FTA concludes there is no substantial commercial rationale, the benefits of the 0% regime may be denied.

- Family Foundations Without Proper Documentation Foundations can be valuable estateplanning tools, but without clear documentation explaining their nonfiscal purpose, the FTA may challenge their tax treatment. A poorly documented foundation in its constitutional documents may lose tax transparency, potentially leading to unexpected tax liabilities for the family.

- Legacy Structures in a New Tax Environment Vehicles or arrangements created at the very beginning of the corporate tax introduction may not align with tomorrow’s regulatory expectations. Even if originally compliant, evolving FTA guidance, that is sometimes applied retrospectively, can quickly turn yesterday’s norm into today’s risk.

4. The Long Memory of Audits The FTA has at least five years from the end of a taxable period to issue an assessment, and longer where avoidance is suspected. This generous window means the authority is under no

pressure to rush. Meanwhile, taxpayers face an annual penal interest of 14% on liabilities uncovered during audits, not to mention additional penalties that can be applied.

For structures with weak documentation or ambiguous commercial purpose, each passing year increases financial risk.

5. What Family Offices Should Do Now To stay ahead of potential scrutiny and to protect long-term wealth, the family offices should consider a proactive review of their existing structures. Key questions include: • Documentation: Do we have clear records demonstrating commercial rationale, governance and non-tax motivations behind key decisions?

• Interpretation of the law: Are our positions aligned with the latest FTA guidance? Are we monitoring changes that may impact our structures retrospectively?

• Substance and Economic Reality: Would we still pursue this arrangement if the UAE had no corporate tax? Does the structure reflect genuine operational or investment needs?

A well-designed structure is not just tax-efficient, it is defensible, transparent and aligned with both the letter and the spirit of the law.

6. Conclusion: Tax Is Now a Strategic Priority The UAE’s tax landscape continues to evolve, and with it, expectations around substance, governance and documentation. Tax can no longer be treated as an afterthought or a purely administrative function. For family offices, where wealth preservation, legacy planning and intergenerational stability are paramount, the stakes are especially high.

Preparing now, with the right documentation and the right strategic decisions, will not only reduce risk but also position family offices to operate confidently in a more mature and regulated tax environment. mea-biz.com mea-finance.com

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PARTNER CONTENT

INSIDE THE WORLD OF INVESTMENT MIGRATION:

Global Mobility and Wealth Strategy Rihab Saad Managing Director of Next Generation Equity (NGE) discusses global citizenship trends, regulatory evolution and the strategic value of alternative residence planning

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ext Generation Equity has been recognised as the Best Residency a n d C i t i ze n s h i p by Investment Firm at the MEA Finance Awards. What does this distinction represent for your company, and what does it mean for your clients?

This recognition comes at a defining moment for the investment migration sector. The industry has matured from straightforward application processing to a strategic advisory model that incorporates legal guidance, long-term wealth planning, tax considerations and family security. Our award reflects this shift and the growing expectation for higher-quality and more comprehensive support.

Clients today arrive with more complex questions. They want to understand how a second residency or citizenship will influence their global tax exposure, future inheritance planning and overall risk management. This is why we have invested in strong government relationships, a rigorous due diligence framework and a focus on clear educational guidance.

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Rihab Saad, Managing Director, Next Generation Equity

For NGE, this distinction signals to clients that they are working with a partner that prioritises accuracy, transparency and experienced advisory. It reinforces that our approach is aligned with what families now value most: thoughtful planning, reliable expertise and long-term protection.

Business Banking News for the MEA region and Finance news in the MEA market

How has your firm’s approach to client advisor y evolved in response to heightened international regulatory scrutiny of citizenship programs?

The regulatory environment surrounding citizenship-by-investment has intensified, particularly following increased attention from the Organisation for Economic Co-operation and Development (OECD), European Union (EU) and Financial Action Task Force (FATF).

This fundamentally reshaped our advisory methodology and operational infrastructure, but rather than viewing enhanced regulation as a constraint, we have recognised it as an opportunity to strengthen program integrity and client outcomes.

For one, we have substantially expanded our compliance frameworks, implementing enhanced due diligence protocols that exceed minimum governmental requirements.

We have also become more selective about the programs we recommend, with jurisdictions demonstrating commitment to international regulatory standards, transparent governance and sustainable p ro g ra m m a n a g e m e nt re c e i v i n g our endorsement.

This ultimately benefits our clients, as we are able to direct them toward programs with long-term stability and international legitimacy, which are key factors in determining the lasting impact and overall strategic benefit of their investment.

C a r i b b e a n c i t i ze n s h i p - by investment programs have recently increased minimum investment thresholds. What strategic factors are driving these changes, and how do they affect the competitive landscape?

Yes, several Caribbean nations have established a baseline contribution level of USD 200,000 for single applicants, reflecting a coordinated approach to program sustainability and international positioning.

This change primarily comes from Caribbean nations responding to calls for increased program integrity and sustainability. Implementing higher investment thresholds naturally reduces application volumes while increasing per-applicant economic contribution, and allows stricter due diligence and more meticulous background checks.

Additionally, these adjustments address long-term fiscal planning, since citizenship program revenues fund critical infrastructure development, climate resilience initiatives and economic diversification projects.

From a competitive perspective, this means programs now compete less on price and more on processing efficiency, passport strength and additional benefits like visa-free travel access or residency flexibility.

Global wealth migration patterns have intensified over recent years. What underlying factors a re d r i v i n g h i g h - n et- wo r t h individuals and families to pursue alternative citizenship options?

I believe this acceleration is driven by overlapping factors that include geopolitical uncertainty, tax optimisation and changing global mobility needs.

Most of our clients are families that view second citizenship as essential risk mitigation—a “Plan B” that provides options during political instability, economic disruption or social unrest.

Another key factor is tax optimisation, a s e nt re p re n e u rs a n d b u s i n es s owners seek citizenship options that enable legitimate tax efficiency through proper residency planning and wealth structuring.

For these clients, jurisdictions offering territorial tax systems or favorable treatment of foreign-sourced income are attractive options. However, they still need to establish genuine residential ties and comply fully with reporting obligations in their home countries.

Access to world-class education and visa-free travel is another critical factor

for many families, particularly those from regions with limited educational infrastructure. These clients prefer citizenship in countries offering visafree access to the United Kingdom, the Schengen Area or other destinations with premier academic institutions.

Beyond citizenship acquisition, how does NGE support clients in maximising the strategic value of their alternative citizenship throughout their lifetime?

O bta i n i n g a s e c o n d c i t i ze n s h i p represents the beginning rather than the conclusion of our relationships with our clients. Our advisory extends to the strategic use of their second citizenship benefits across multiple aspects,

owners in exploring channels that can help them expand into new markets, maximize preferential trade agreements or establish regional operational centers.

We also specialise in helping clients plan and lay the foundation for the education of their children, advising them on programs that offer the best access to internationally renowned universities and educational institutions.

What emerging patterns in global mobility and wealth preservation do you see shaping how families approach citizenship planning over the next decade?

Over the next ten years, I expect citizenship planning to move much earlier in life, especially among individuals and

OBTAINING A SECOND CITIZENSHIP REPRESENTS THE BEGINNING RATHER THAN THE CONCLUSION OF OUR RELATIONSHIPS WITH OUR CLIENTS particularly in terms of personal and financial planning.

For instance, achieving tax efficiency requires sophisticated planning that extends well beyond citizenship itself.

We work closely with international tax advisors to ensure clients understand re p o r t i n g o b l i g a t i o n s , e sta b l i s h compliant residency structures and optimise their tax positioning across multiple jurisdictions.

We also advise families on how to structure cross-border estates, understand heirship rules in different jurisdiction and ensure seamless wealth transfer across generations.

Since second citizenship gives access to international business opportunities, we guide entrepreneurs and business

families who prioritise long-term wealth protection and lifestyle flexibility rather than treating it as a late-stage safeguard.

As the global migration sector continues to be reshaped by factors such as increasing taxes on HNWIs, economic opportunities in emerging markets and changing immigration policies, having a second citizenship or residency is set to be one of the most valuable tools one can secure for stability, freedom and generational opportunity.

W ith exc e ptional exper t ise in government-approved European and Caribbean citizenship and residencyby-investment programs, our team at NGE is fully equipped to guide families and individuals through this evolving landscape. mea-biz.com mea-finance.com

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AI IN BANKING

FROM PILOTS TO PURPOSE:

The Real Story of AI Adoption in Middle East Banking Across the region, banking leaders are unanimous about one thing - artificial intelligence is no longer optional. Many major institutions, from the largest universal banks in the GCC to the nimblest digital challengers, have announced AI strategies, appointed data leaders and launched pilots across risk, compliance and customer engagement

T

h e P ro mi se and the Paradox

And yet, despite this visible momentum, there is a quiet paradox. For all the enthusiasm and investment, true AI adoption remains limited. Few banks have moved beyond isolated proofs of concept or departmental initiatives to build the kind

36 24 MEABUSINESS

of AI-native enterprise that global peers are now attempting.

In a region that has consistently been an early adopter of digital transformation, this is both surprising and revealing. The foundations are strong - modern cores, rich customer data, supportive regulators - but the translation of potential into scale is still lagging.

Business Banking News for the MEA region and Finance news in the MEA market

So, the question facing Middle East banking leaders today is not whether to adopt AI, but it’s how to make adoption real.

The Mirage of AI Readiness Governments across the region have shown extraordinar y foresight in promoting national AI agendas. The UAE launched its AI Strategy 2031, while Saudi Arabia’s Vision 2030 and Qatar’s National AI Strategy have each positioned AI as a central driver of competitiveness.

Yet, within banks, the definition of “AI readiness” is often technocentric, focused on data lakes, MLOps platforms and vendor ecosystems. What is often missing is human readiness, the organisational cognition, trust architecture and decision velocity needed to make AI not just work, but fit for purpose.

At WithinTheBox.ai, our research reveals a clear pattern. AI maturity is not determined only by how advanced a bank’s

3. Trust Architecture - where ex p l a i n a b i l i t y, b i a s te s t i n g and traceability as technical requirements.

These institutions understand that adoption is as much a behavioural challenge as a technical one.

models are, it is also largely determined by how deeply the organisation understands itself. Adoption slows down not because technology fails, but because human systems do.

The Real Barriers: Why AI Gets Stuck

Global Lessons: Moving from Pilots to Platforms Globally, we are seeing a clear shift.

From Strategy to Experience: The AI Adoption Sandbox

Sanat Rao, Co-founder & Managing Director, WithinTheBox.ai

Several leading banks in other parts of the world are moving from fragmented AI initiatives to AI-native architectures, where intelligence is embedded into every decision, process and customer touchpoint.

Three common threads stand out: 1. Decision Velocit y - namely governance redesigned to enable fast, risk-aware decisions.

2. Human Oversight - that is, humanin-the-loop frameworks preserve judgment alignment.

Human Readiness

It is tempting to believe that scaling AI is a matter of investment or talent. But the evidence suggests otherwise. The deeper barriers are cognitive, cultural and structural.

Four recurring blockers define the AI adoption gap: 1. Fragmented Vision – AI is treated as a toolkit, not a new operating model.

2. Fear of Autonomy – Controloriented cultures resist delegating judgment to machines.

3. Governance by Committee – Responsible AI managed via policy, not design.

4. Data Without Design – Banks invest in data platforms but overlook human trust calibration.

AI-Native Bank

Digital Legacy Bank Technical Readiness

Technology maturity without human readiness leads to adoption fatigue.

In the technology world, sandboxes test code safely. But in the AI world, we need a different kind of sandbox, one where humans and machines learn together.

Th e A I Ad o pt i o n S a n d b ox i s a controlled environment where AI systems and human users interact under observation, thereby testing n o t o n l y p e r fo r m a n c e b u t a l s o perception, trust and behavioural response. Within these sandboxes, banks can: • Observe how staff interpret AI recommendations.

• Identify when human intuition complements or contradicts machine logic.

• Refine protocols that balance autonomy with oversight.

• Experiment with responsible AI before full deployment.

This creates a continuous feedback loop between technical accuracy and human acceptance, the very essence of real adoption.

From Compliance to Confidence These sandboxes are to be seen as not merely compliance experiments but as co-design platforms for responsible AI. This represents a larger philosophical shift of regulators moving from scorekeepers to co-architects of AI transformation. Banks that engage them early do not just de-risk innovation, they help shape the rules of responsible intelligence.

From Readiness to Reality: A Blueprint for Banks At WithinTheBox.ai, we think of a Cognitive Design framework as a blueprint for mea-biz.com mea-finance.com

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dashboard to monitor AI. We need a playground to understand it.”

That is the difference between deployment and adoption, between using AI as a tool and living with AI as a collaborator.

The Way Forward: From Adoption to Advantage banks that are serious about addressing the adoption challenge.

The Human Side of AI: Lessons from the Field Our ethnographic work across banks reveals a striking duality - executives describe AI as a strategic enabler; frontline teams describe it as a compliance risk.

That disconnect explains why many initiatives stall after the pilot phase. The solution is not another policy deck; it is shared experience.

As one innovation head told us during a sandbox session - “We don’t need another

AI adoption in banking is not about replacing judgment; it is about augmenting human intelligence with machine precision.

Adoption happens when: • Technology learns what humans value.

• Humans learn what technology can be trusted with.

• Both evolve together within ethical guardrails.

That is the true purpose of the AI Adoption Sandbox, a place where trust, governance and innovation meet.

IN REGIONAL BANKING, THE WINNERS WILL NOT BE THOSE BANKS WITH THE SMARTEST MODEL; IT WILL BE THE BANKS WITH THE BRAVEST CULTURE, ONES THAT LEARN, QUESTION AND COCREATE WITH THE MACHINE To achieve that, banks must ask “Is our data ready?” but also ask “Are our people ready to trust what AI can do?”

Closing Reflections As AI moves from experiment to enterprise, banks in the Middle East have a rare opportunity to redefine the global narrative not as late adopters, but as thoughtful innovators.

They can show that in an age of autonomy, the differentiator is not intelligence, it is intentionality. Because the banks that will lead the AI era are not those that automate the fastest, but those that humanise the deepest.

In regional banking, the winners will not be those banks with the smartest model; it will be the banks with the bravest culture, ones that learn, question and co-create with the machine.

Behaviour wins. Technology follows.

Sanat Rao is Cofounder and Managing Director of Within The Box.ai, an AI enablement and behavioural design company headquartered in the UK with a base in the UAE. Their Cognitive Design Practice helps banks, fintechs and hedge funds build Human + Machine architectures that drive adoption, impact and performance.

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