July 2025

News, Reviews and Analysis.

News, Reviews Reviews and andAnalysis.

Analysis.

News,

July Issue 2025

May - June Issue September Issue2021 2023

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Unemployment Insurance and15 Emiratisation Law a Landmark Step to Boost Business in UAE 16

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15 19

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 28 STARTUP ECOSYSTEM MEAAND BUSINESS 18 20 NEIL PETCH / GEORGE HOJEIGE / GEOFF RAPP ACHIEVEMENT AWARDS 2025 Spotlight on: Imad Kazzaz

Trade and Development

World Forum to mobilize

HIGHLIGHTS PAGEinvestments 10 for climate, energy, health and food

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Saudi Global Ports Secures 20-Year Concessions to Transform Eastern Terminals 06 | Jadwa Acquires Majority Stake in Retailer Makhazen Alenaya 07

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Introduction Introduction

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elcome to this special issue of MEA Business, dedicated to celebrating the MEA Business Achievement 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. In line with our commitment to celebrating industry excellence, this issue culminates with a special focus on the MEA Business Achievement Awards 2025, recognizing outstanding contributions and innovative breakthroughs across various sectors.

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

24 32 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

NEWS NEWS MIDDLE EAST 06 Saudi Global Ports Secures Concessions to 6 Strategic Aldar 20-Year partners with Nikki Transform Eastern Saudi Terminals Beach Global to bring 07 Jadwa acquires majority stake in leading Retailer Makhazen Alenaya branded waterfront through its GCC diversified private residences to Ras Al equity fund KhaimahACHIEVEMENT MEA BUSINESS AWARDS Leading British digital 087 Celebrating Excellence: MEA Business Achievement 2025 logistics companyAwards Zencargo 10 Award Highlights launches operations in the MEA BUSINESS ACHIEVEMENT UAE to expand in MENA AWARDS WINNERS 12 Exceptional Products/Services AVIATION ANNUAL GALA Atermes Mea 12EVENING Outstanding Sustainability Initiative - ABL Aviation The Aviation Annual Galaand 129 Outstanding Sector Leadership Growth Dalilk Academy Abdur Evening is Back Rahman Hijazi 13AVIATION Exceptional ACHIEVEMENT New Technology AEDLER Logistik Solutions 13AWARDS Exceptional New Technology AEDLER Logistik Solutions 12 Aviation Achievement 13 Outstanding Leadership in Payments - Santosh Awards 2023 Vaidya, Senior Vice President - Payments & Digital Services – Mashreq LOGISTICS 14 Excellence in Strategic Market - Deyaar 14Expansion Emirates SkyCargo 14 Industry Trailblazer - Deyaar advances its digital customer 14 Visionary Leadership - Saeed experience with CargoAi Mohammed Al Qatami - CEO of Deyaar Development PJSC Hotpack Sustainability celebrates milestone 1514 Outstanding Initiative - DP World achievement of reaching 50 15 Anniversary Milestone - Jebel Ali retail stores across the MEA Free Zone (JAFZA) 1514 Outstanding leadership - Dr. Etihad Cargo ramps upRaman cargo Kumar – Managing Director, Al capacity for China Futtaim Logistics Company LLC

16 Ground-Breaking Products/Services - e& GoChat Messenger 16 Exceptional Digital Transformation Initiative - e& - GoChat Messenger 16 Workforce Development and Empowerment - Dubai Airports 17 AI & Machine Learning Excellence Emirates NBD – V.I.G.I.L.A.N.T 17 Groundbreaking Products and Services Emirates NBD – ENBD X 17 Outstanding Leadership - Mark Newfield - Group Head of Compliance Systems Emirates NBD 18 Exceptional Products/Services - Empire Aviation Group 18 Outstanding Leadership - Paras Dhamecha - Founder and Managing Director, Empire Aviation Group 18 Customer Experience – CX Excellence Etihad Cargo 19 MRO Excellence Award - Etihad Engineering 19 Outstanding Sustainability Initiative Etihad Water and Electricity (EtihadWE) 19 Exceptional Digital Transformation Initiative - Kodak Alaris 20 Innovative Collaborations and Partnerships - Faircare Counselling 20 Outstanding Community Impact and Engagement - Faircare Counselling 20 Outstanding Leadership (Personal Achievement Award) - JS Anand, Founder and CEO of LEVA Hotels 21 Ground-Breaking Products Services - First Abu Dhabi BankSolutions 21 Outstanding New Product Service Launch - First Abu Dhabi Bank 21 AI and Machine Learning Innovation Excellence - FINESSE 22 CX Excellence Achievement Award - Al Futtaim Group 22 Innovation Excellence - Al Futtaim Group 22 Outstanding Sector Leadership and Growth Tariq Alkamdi, Director of Cloud & IP Delivery – DU 23 Visionary Leadership Award - Jubran AlBreiki - Chief Executive Officer - Etihad Airport Services 23 Ground-Breaking Products/Services RoyalJet FBO 23 Exceptional Products/Services - Lunajets 24 Outstanding Community Impact and Engagement - National Bank of Fujairah PJSC 24 ESG Excellence - National Bank of Fujairah PJSC

24 Outstanding Sustainability Initiative National Bank of Fujairah PJSC 25 Innovative Collaborations and Partnerships - Omantel 25 Industry Trailblazer - Omantel 25 Workforce Development and Empowerment - Omantel 26 Exceptional Products/Services (Achievement Award) RAKBANK Business Banking Division 26 Exceptional Efficiency and Productivity Improvements - RAKBANK - Disaster Recovery (DR) Framework 26 Exceptional Digital Transformation Initiative - RAKBANK NPSS - Instant Payment Platform (IPP) 27 Customer Experience - CX Excellence Skiply by RAKBANK 27 Marketing Campaign Excellence Award Tav Technologies 27 AI and Machine Learning Innovation - Tav Technologies 28 Innovation Excellence - SolitAir 28 Outstanding New Product/Service Launch - SolitAir 28 Innovation in Automotive Retail - Keyloop 29 Anniversary Milestone - Dubai Islamic Bank – DIB 29 Anniversary Milestone - Microsoft UAE 29 Anniversary Milestone Excellence JUMBO ELECTRONICS Ltd. 30 Outstanding Leadership - Amer Khansaheb, CEO & Board Member at Union Properties PJSC 30 Securing the Skies: Lufthansa Technik Middle East FZE Wins Cyber Innovation Award INTERVIEW 32 Leading with Purpose: Transforming Ground Handling at Etihad Airport Services OPINION PIECE 34 WALKING THE INTEREST RATE TIGHTROPE: Tax Pitfalls of Mispriced Intra-Group Loans 36 DIGITAL IDENTITY: DubaiThe New Cornerstone of Trust in MEA’s Banking Sector OPINION PIECE 38 TARIFF TSUNAMI:: Decoding America’s Trade Reset for Middle Eastern Financial Strategy LEADERSHIP SERIES 40 Positioning for the Present

News

Saudi Global Ports Secures Strategic 20-Year Concessions to Transform Eastern Saudi Terminals SGP to invest SAR 700 million to modernize four key multipurpose terminals, reinforcing its role in Vision 2030 and positioning Saudi Arabia as a global logistics hub.

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audi Global Ports Group (together with its subsidiaries, “SGP”), through its subsidiary, Modern Port Services Company Limited (SGP Multipurpose Terminals, “SGPMP”), has been awarded four 20-year concession agreements by the Saudi Ports Authority (“Mawani”) to operate multipurpose terminals along the Eastern Coast of Saudi Arabia, located at King Abdulaziz Port Dammam (“KAPD”), Jubail Commercial Port (“JCP”), King Fahad Industrial Port Jubail (“KFIP”) and Ras Al-Khair Port (“RAK”).

The concession agreements were signed by the CEO of SGP Mr Rob Harrison and the Acting President of Mawani Mr Mazen bin Ahmed Al-Turki, and witnessed by His Excellency the Minister of Transport and Logistics Services H.E. Saleh Al Jasser, the Chairman of Board of Saudi Global Ports, Eng. Abdullah Al Zamil and Vice Chairman of the Board of Saudi Global Ports, Mr Bakr AlMuhanna.

An established terminal operator in Saudi Arabia, SGP is currently the operator of container terminals at KAPD and the rail intermodal Riyadh Dry Port Ecosystem (Riyadh Dry Port, Riyadh Empty Yard and Dammam Empty Container Yard) and also has an ongoing investment to develop the Dammam Integrated Logistics Zone (“DILZ”). In 2024, SGP handled more than 4 million TEUs across its ecosystem of seaports and inland terminals, cementing itself as a leader in the industry.

Under the four concession agreements, SGP plans to invest more than 700 million Saudi Riyals (~USD 187 million) to upgrade the terminals and purchase new equipment. SGP also aims to integrate the four multipurpose terminals with its existing operations across Dammam and Riyadh, and to transform the terminals into more efficient and resilient gateways supporting the robust growth in the Kingdom, which

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S audi Global Ports Group has been awarded four 20-year concession agreements by the Saudi Ports Authority (“Mawani”) to operate multipurpose terminals along the Eastern Coast of Saudi Arabia.

Image Courtesy: Saudi Global Ports Group will be key for the ongoing and upcoming mega projects in the country.

Chairman of the Board of Saudi Global Ports Company, Eng. Abdullah Al Zamil said, “SGP, as one of the National Champions for Ports and Logistics in Saudi Arabia, is proud to be entrusted with this opportunity to nurture and grow the four multipurpose terminals along the Eastern Coast of Saudi Arabia.

We will strive to provide the same reliability, integration and spirit of innovation at the multipurpose terminals as we have done so for the container terminals at KAPD, the Riyadh Dry Port Ecosystem and DILZ. We are grateful to Mawani for entrusting SGP with these concessions.”

Vice Chairman of the Saudi Global Ports Board, Bakr AlMuhanna highlighted: “The agreement between SGP and Mawani is pivotal in driving economic diversification under Saudi Arabia’s Vision 2030. By integrating and modernising key terminals,

Business News for the MEA region

SGP, together with its technical partner, PSA International, brings their expertise to enhance supply chain efficiency, support critical mega projects, and strengthen the Kingdom’s position as a global logistics hub.” He added: “SGP, is committed to fostering innovation, sustainability, and local talent development to unlock longterm value in developing a transformative ports and logistics sector and in building a resilient, future-ready economy.”

Regional CEO Europe & Mediterranean and Middle East South Asia, PSA International, Vincent Ng said, “PSA is proud to be alongside Saudi Arabia’s growth journey for over 10 years. We are excited to continue to work alongside PIF, Mawani and other stakeholders in the Kingdom, supporting SGP with our global expertise and network as it expands its ecosystem to include capabilities that can bring new and differentiated value to the Kingdom’s ports and logistics sector.”

Jadwa acquires majority stake in leading Retailer Makhazen Alenaya through its GCC diversified private equity fund Makhazen is a fast-growing Saudi retail concept with 15 branches across the Kingdom

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adwa Investment, a leading Riyadh-headquartered investment management and advisory firm with over SAR 100 billion (USD 30 billion) in client assets under management across diverse asset classes, including public and private equity, real estate, private credit, fixed income, and money markets, has announced the acquisition of a majority stake in Makhazen Alenaya.

The acquisition was executed through its flagship blind-pool vehicle, the Jadwa GCC Diversified Private Equity Fund. Serving a client base that includes governmentrelated entities, institutional investors, prominent family offices, and high-networth individuals, Jadwa continues to strengthen its position as a major player in the region’s private equity and investment landscape

reflects our confidence in the Kingdom’s evolving consumer landscape, supported by far-reaching economic reforms and a shift toward modern retail formats.”

Elie El-Khoury, Head of Private Equity at Jadwa Investment, added: “Makhazen is a clear category leader in a fast-evolving retail landscape. It pioneered valuedriven pricing with premium customer experience, which sets it apart from traditional formats and positions it for significant growth. This investment reflects our strategy to back high-growth businesses with scalable, defensible

platforms.”

Speaking on behalf of Makhazen Alenaya, Abdullah Almudaihesh, Co-Founder and CEO, stated: “Partnering with Jadwa Investment marks a defining milestone in Makhazen’s journey. We will leverage Jadwa’s deep expertise to accelerate our growth, strengthen our operational capabilities and governance, and unlock long-term value. This partnership will reinforce our leadership position in the Kingdom’s beauty and personal care sector and lay the foundation to list on the Saudi Exchange’s Main Market.”

Partnering with Jadwa Investment marks a defining milestone in Makhazen’s journey.

We will leverage Jadwa’s deep expertise to Founded in 2019, Makhazen is a fast- accelerate our growth growing Saudi retail concept with 15 branches across the Kingdom. The company has redefined the beauty and personal care sector by pioneering an emerging retail format: the multi-category specialist. Makhazen offers a wide, curated product range at consistently affordable prices and through a premium one-stop-shop experience. Backed by strong consumer traction and a scalable operating model, the company is poised to expand its footprint across Saudi Arabia.

The transaction marks Jadwa’s fourth investment under Jadwa GCC Diversified Private Equity Fund (formerly known as GCC Private Equity Fund I). The fund’s prior investments include Gissah Perfumes, Blackspoon Group, and Tikkaway.

Tariq Al-Sudairy, Managing Director & CEO of Jadwa Investment, commented: “We are pleased to partner with Makhazen Alenaya in our second investment in the region’s retail sector. The transaction

J adwa Investment announced the acquisition of a majority stake in Makhazen Alenaya through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund. Image Courtesy: Jadwa Investment mea-biz.com

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MEA BUSINESS ACHIEVEMENT AWARDS

Celebrating Excellence: MEA Business Achievement Awards 2025 On June 19, 2025, the Ritz Carlton JBR in Dubai provided a fitting backdrop for the MEA Business Achievement Awards, an evening dedicated to recognizing the region’s most accomplished business leaders and trailblazers.

This prestigious gathering brought together top executives and forward-thinking visionaries to celebrate their outstanding contributions to the regional business landscape.

As we honour these achievements, we invite you to discover the stories of innovation, leadership, and impact behind each of this year’s winners.

WINNERS LIST Technology Amazon Payment Services – E-Commerce – Customer Experience (CX Excellence) Amazon Payment Services – E-Commerce – Exceptional Products/Services ATERMES MEA – Surveillance & Threat Detection – Exceptional Products/ Services Nutanix – Cloud Software – Outstanding Sector Leadership and Growth Omantel – Telecommunications – Workforce Development and Empowerment Omantel – Telecommunications – Industry Trailblazer

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Omantel – Telecommunications – Innovative Collaborations and Partnerships e&, GoChat Messenger – Technology – Ground-Breaking Products/Services e&, GoChat Messenger – Telecommunications – Exceptional Digital Transformation Initiative Etihad Water and Electricity (EtihadWE) – Technology – Outstanding Sustainability Initiative : Non-Revenue Water (NRW) Reduction Initiative FINESSE – Technology – AI and Machine Learning Innovation Excellence Kodak Alaris – Technology – Exceptional

Business News for the MEA region

Digital Transformation Initiative Tariq Alkamdi, Director of Cloud & IP Delivery – DU – Telecommunications – Outstanding Sector Leadership and Growth GBM (Al Futtaim Group) – AI – Innovation Excellence Inception and Scale AI – Artificial Intelligence – Innovative Collaborations and Partnerships TAV TECHNOLOGIES – AI – Marketing Campaign Excellence Award GBM (Al Futtaim Group) – AI – Customer Experience – CX Excellence Achievement Award

Keyloop – Technology – Innovation in Automotive Retail

Anniversary Milestone

Aviation & Logistics

JUMBO ELECTRONICS Ltd. – 50th Anniversary Milestone Excellence

DP World – Logistics – Outstanding Sustainability Initiative

Jebel Ali Free Zone (JAFZA) – 40 Years of Excellence – Anniversary Milestone

Dr. Raman Kumar – Al Futtaim Logistics Company LLC – Logistics & Shipping – Outstanding leadership

Dubai Investments PJSC – 30 Years of Excellence – Anniversary Milestone

Etihad Engineering – Aviation – MRO Excellence Award

Deyaar – Real Estate -Excellence in Strategic Market Expansion

Fuel Trans – Aviation Fuel – GroundBreaking Products/Services ABL Aviation – Aviation – Outstanding Sustainability Initiative DC Aviation Al-Futtaim VIP Terminal – Aviation – Excellence in Strategic Market Expansion

Real Estate, Hotels and Management

Deyaar – Real Estate – Industry Trailblazer Saeed Mohammed Al Qatami – CEO of Deyaar Development PJSC – Real Estate – Visionary Leadership

– Banking & Finance – Exceptional Products/Services Skiply by RAKBANK – Banking & Finance – Customer Experience – CX Excellence Emirates NBD – ENBD X – Mobile Banking – Groundbreaking Products and Services Emirates NBD – V.I.G.I.L.A.N.T – Banking & Finance – AI & Machine Learning Excellence Mark Newfield – Group Head of Compliance Systems – Emirates NBD – Banking & Finance – Outstanding Leadership Beyon Money – Finance – Excellence in Strategic Market Expansion

Amer Khansaheb, CEO & Board Member at Union Properties PJSC – Real Estate and Facilities Management – Outstanding Leadership

Finmaal – Financial Services – Outstanding New Product/Service Launch

DAMAC Properties – Real Estate – Outstanding Sector Leadership and Growth

Dalilk Academy – Abdur Rahman Hijazi – Education & Training – Outstanding Sector Leadership and Growth

Leva Hotel – JS Anand – Hotels – Outstanding Leadership

Alef Education – Education & Learning – Ground-Breaking Products/Services

Etihad Cargo – Aviation – Customer Experience – CX Excellence

Jannah Hotels & Resorts – Hotels & Resorts – Excellence in Strategic Market Expansion

Geoffrey Alphonso, CEO of Alef Education – HR, Training, Education & Learning – Outstanding Leadership

SolitAir – Aviation – Innovation Excellence

Banking & Finance

SolitAir – Aviation – Outstanding New Product/Service Launch

First Abu Dhabi Bank – Banking & Finance – Ground-Breaking Products Services

Miles Of Smiles – HR, Training, Education & Learning – Outstanding New Product/ Service Launch

TAV TECHNOLOGIES – Aviation – AI and Machine Learning Innovation Excellence

First Abu Dhabi Bank – Banking & Finance – Outstanding New Product Service Launch

AEDLER Logistik Solutions – Aviation – Exceptional New Technology Dubai Airports – Aviation – Workforce Development and Empowerment Jubran AlBreiki – Chief Executive Officer – Etihad Airport Services – Aviation – Visionary Leadership Award

Falcon Aviation Services – Aviation – Safety Excellence Award Falcon Aviation Services – Aviation – Exceptional Products/Services flydubai – Air Travel – Industry Trailblazer Royal Jet – Business Aviation – GroundBreaking Products/Services (RoyalJet FBO) Empire Aviation Group – Business Aviation – Exceptional Products/Services Paras Dhamecha – Founder and Managing Director, Empire Aviation Group – Business Aviation – Outstanding Leadership Lunajets – Travel and Tourism – Exceptional Products/Services Anniversaries DIB – 50 Years of Excellence – Anniversary Milestone Microsoft UAE – 50 Years of Excellence –

Santosh Vaidya, Senior Vice President – Payments & Digital Services – Mashreq – Banking – Outstanding Leadership in Payments National Bank of Fujairah PJSC – Banking & Finance – Outstanding Sustainability Initiative National Bank of Fujairah PJSC – Banking & Finance – ESG Excellence National Bank of Fujairah PJSC – Banking & Finance – Outstanding Community Impact and Engagement RAKBANK NPSS – Instant Payment Platform (IPP) – Banking & Finance – Exceptional Digital Transformation Initiative RAKBANK – Disaster Recovery (DR) Framework – Banking & Finance – Exceptional Efficiency and Productivity Improvements

Education

Healthcare AEDLER Logistik Solutions – Healthcare – Exceptional New Technology Faircare Counselling – Healthcare – Innovative Collaborations and Partnerships Faircare Counselling – Healthcare – Outstanding Community Impact and Engagement Bupa Arabia – Healthcare – GroundBreaking Products/Services (Achievement Award) Manufacturing Rheem Manufacturing Company – Manufacturing – Exceptional Product/ Services Rheem Manufacturing Company – Manufacturing – Groundbreaking Products/Services Rheem Manufacturing Company – Manufacturing – Outstanding Sustainability Initiative

RAKBANK – Business Banking Division mea-biz.com

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AWARD HIGHLIGHTS

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Business News for the MEA region

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Surveillance & Threat Detection

Exceptional Products/Services - Atermes Mea ATERMES MEA is redefining the boundaries of security with its breakthrough surveillance platform, SURICATE, earning it the award for Exceptional Products/Services. Its proprietary, embedded AI and multispectral sensors provide autonomous, 360-degree threat detection in the most demanding environments, operating seamlessly even when disconnected.

Engineered for critical infrastructure protection, this technology represents a new era of proactive, intelligent monitoring that transforms passive observation into decisive, real-time intelligence.s and logistics sector.”

Category: Aviation

Outstanding Sustainability Initiative - ABL Aviation This award shines a light on a critical and often-overlooked area of aviation emissions: ground operations. ABL Aviation earned this honor for its pioneering €170 million sustainable financing deal with Swissport. This initiative enables the largescale adoption of electric ground support equipment, and its innovative green finance model sets a new industry benchmark for driving sustainability throughout the entire aviation ecosystem.

Category: Education & Training

Outstanding Sector Leadership and Growth Dalilk Academy - Abdur Rahman Hijazi Abdur Rahman Hijazi has single-handedly redefined educational influence in the region, transforming his personal brand, Dalilk Academy, into a trusted learning ecosystem. Reaching over 15 million learners through authentic, contentled strategies, he has scaled personal connection into institutional-level impact.

His work, which aligns with national development goals, has created a powerful new model for leadership and growth in the digital education sector.

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Business News for the MEA region

Category: Aviation

Exceptional New Technology - AEDLER Logistik Solutions AEDLER Logistik Solutions is at the forefront of aviation logistics, recognized for engineering the next generation of fully automated air cargo terminals. Its technology, which integrates AI, robotics, and autonomous vehicles, has been implemented in some of the world’s largest airports. By creating intelligent, high-throughput systems that enhance efficiency and data capture, this innovator is shaping the future of global air freight handling.

Category: Healthcare

Exceptional New Technology - AEDLER Logistik Solutions AEDLER Logistik Solutions has engineered a monumental leap forward for healthcare logistics, earning this award for designing and building the MENA region’s first fully automated Smart Logistics Distribution Center for the pharmaceutical industry. This facility is capable of delivering over 100 million products annually. By integrating autonomous robots and intelligent scanning systems that ensure full traceability, this technology doubles operational efficiency and guarantees medical security at an unprecedented scale.

Category: Banking

Outstanding Leadership in Payments - Santosh Vaidya, Senior Vice President - Payments & Digital Services – Mashreq Santosh Vaidya is recognized as the driving force behind a profound digital transformation at Mashreq. By architecting a modern middleware and API ecosystem, he laid the foundation for true Open Banking innovation. His visionary leadership in rolling out enterprise-wide process automation has streamlined operations, enhanced service delivery, and firmly positioned the bank as a resilient, future-ready leader in the digital era.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Real Estate

Excellence in Strategic Market Expansion - Deyaar For its Excellence in Strategic Market Expansion, Deyaar was recognized for its impressive evolution from a local player into a multi-emirate powerhouse. Through calculated market entries into new emirates like Abu Dhabi and landmark projects, including the luxury seafront destination Mar Casa which sold out in record time, Deyaar has masterfully captured new growth opportunities. This expansion showcases a sophisticated understanding of market dynamics and operational excellence.

Category: Real Estate

Industry Trailblazer - Deyaar Deyaar has proven itself an Industry Trailblazer, becoming a cornerstone of real estate development built on a foundation of trust and transparency. In a historic year, the company achieved record-breaking financial performance, including a nearly 15% surge in net profit to AED 505.4 million and its firstever dividend distribution. Deyaar’s portfolio of iconic, community-focused projects continues to redefine urban landscapes with innovation and integrity.

Category: Real Estate

Visionary Leadership - Saeed Mohammed Al Qatami - CEO of Deyaar Development PJSC For nearly two decades, Saeed Mohammed Al Qatami has been an instrumental force in shaping the UAE’s real estate landscape. Guided by a philosophy of quality, transparency, and teamwork, he has led Deyaar through exceptional growth while cementing the company’s reputation as one of the country’s most reliable and innovative developers. His visionary leadership has consistently delivered outstanding results for all stakeholders.

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Business News for the MEA region

Category: Logistics

Outstanding Sustainability Initiative - DP World DP World earned this award for its groundbreaking electric freight initiative at Jebel Ali Port, representing a monumental leap forward in decarbonizing logistics.

Launched in partnership with Einride, the solution is projected to cut over 14,600 tonnes of CO₂e emissions annually. This powerful fusion of electric vehicles, smart infrastructure, and an AI-powered platform sets an inspiring new global benchmark for green logistics and sustainable trade.

Category: 40 Years of Excellence

Anniversary Milestone - Jebel Ali Free Zone (JAFZA) Jebel Ali Free Zone (Jafza) is honored for its 40 Years of Excellence, a milestone celebrating a visionary initiative that has transformed the economic landscape of Dubai. Established in 1985, Jafza was the first free zone in the GCC and has since blossomed from just 19 companies into a global trade and logistics powerhouse hosting over 10,000 businesses, including more than 100 Fortune Global 500 companies. This anniversary celebrates an enduring legacy of strategic planning and unparalleled contribution to global commerce.

Category: Logistics & Shipping

Outstanding leadership - Dr. Raman Kumar – Managing Director, Al Futtaim Logistics Company LLC With over three decades of expertise, Dr. Raman Kumar has transformed Al Futtaim Logistics into a diversified, future-ready powerhouse. By pioneering AI-driven transport management, launching innovative new service lines, and steering successful geographic expansions, he has redefined operational excellence. His unwavering commitment to customer-centric values and sustainable practices demonstrates a profound and impactful vision for the industry’s future.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Technology

Ground-Breaking Products/Services - e& - GoChat Messenger Winning the award for Ground-Breaking Products/Services, GoChat Messenger by e& has proven to be far more than a simple messaging app. It is a definitive lifestyle platform that seamlessly integrates free global communication with essential daily services, including international money transfers, bill payments, and personalized news. By consolidating convenience, entertainment, and a rewarding user experience into a single intuitive interface, it has simplified life for millions.

Category: Telecommunications

Exceptional Digital Transformation Initiative - e& - GoChat Messenger This award recognizes a masterclass in digital transformation. GoChat Messenger by e& has evolved a communication tool into an indispensable lifestyle ecosystem.

By brilliantly integrating a diverse suite of services—from financial transactions to daily utilities and entertainment—it has fundamentally changed how users interact with technology, creating a powerful allin-one platform that sets a new industry benchmark for customer engagement and holistic digital integration.

Category: Aviation

Workforce Development and Empowerment - Dubai Airports Dubai Airports has distinguished itself as a truly exceptional workplace on a global scale, earning it the 2025 Gallup Exceptional Workplace Award. By achieving the 75th percentile in employee engagement, it has cultivated a dynamic, people-centric culture where every individual feels valued and empowered. This commitment to wellbeing, growth, and collaboration has not only elevated its workforce but has also set a new benchmark for excellence in the aviation industry.

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Business News for the MEA region

Category: Banking & Finance

AI & Machine Learning Excellence - Emirates NBD – V.I.G.I.L.A.N.T Emirates NBD’s V.I.G.I.L.A.N.T project is a testament to the power of AI in solving complex regulatory challenges. By deploying a sophisticated, multi-model framework, this initiative achieved a staggering 76% reduction in false positives for money laundering alerts and a threefold improvement in accuracy. This forward-thinking use of AI has delivered immense operational efficiencies while strengthening the integrity of the financial system.

Category: Mobile Banking

Groundbreaking Products and Services - Emirates NBD – ENBD X The ENBD X mobile banking platform has set a new benchmark for speed, convenience, and functionality. It allows users to open an account in under three minutes, access over 150 services instantly, and trade on global markets through an embedded digital wealth platform. With smart features like cardless cash withdrawals and an intuitive, personalized design, ENBD X has delivered a truly groundbreaking experience for millions.

Category: Banking & Finance

Outstanding Leadership - Mark Newfield - Group Head of Compliance Systems - Emirates NBD Mark Newfield is recognized as a transformative force in the critical fight against financial crime. He has championed initiatives at Emirates NBD that significantly improved customer experience, reducing onboarding times by 40% and payment holds by over 90%. A true regional influencer, he has founded and now chairs vital industry forums dedicated to sharing best practices and advancing the use of AI in compliance.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Business Aviation

Exceptional Products/Services - Empire Aviation Group Empire Aviation Group has mastered the art of business aviation by combining a sophisticated asset management approach with truly personalized service.

Operating one of the region’s largest managed fleets, it continues to innovate with services like its ‘Luxury Partner’ programme. By taking its first Boeing Business Jet under management, it has solidified its position as a global leader in the industry.

Category: Business Aviation

Outstanding Leadership - Paras Dhamecha - Founder and Managing Director, Empire Aviation Group Paras Dhamecha has expertly blended a lifelong passion for aviation with sharp entrepreneurial vision to create a private aviation powerhouse. His focus on people, trust, and transparency has guided Empire Aviation Group through impressive growth and global disruptions. A pilot himself, he personally led negotiations to secure a prestigious sales representation agreement with Gulfstream, proving his deep industry influence and integrity.

Category: Aviation

Customer Experience – CX Excellence - Etihad Cargo Setting a new standard for customer experience in air logistics, Etihad Cargo combines operational excellence with profound customer insight. It has achieved an exceptional on-time performance rate of over 87%, supported by advanced digital platforms that offer clients unprecedented control and transparency. Holding three distinct IATA CEIV certifications for handling specialized cargo, its commitment to reliability and quality is truly world-class.

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Business News for the MEA region

Category: Aviation

MRO Excellence Award - Etihad Engineering As one of the world’s leading maintenance, repair, and overhaul providers, Etihad Engineering delivers unmatched excellence on a global scale. Its state-of-the-art facility— the largest in the Middle East—successfully delivered over 200 aircraft to more than 260 customers last year. The company’s comprehensive capabilities, from a first-ofits-kind 3D printing lab to servicing tens of thousands of components, represent the pinnacle of innovation and precision.

Category: Technology

Outstanding Sustainability Initiative - Etihad Water and Electricity (EtihadWE) In response to one of the region’s most critical environmental challenges, Etihad Water and Electricity (EtihadWE) earned this award for its initiative to revolutionize water conservation. By deploying a sophisticated suite of technologies, including AI-powered monitoring and advanced acoustic leak detection, it has made extraordinary strides in reducing non-revenue water. This ambitious program not only preserves a precious resource but also sets a new global benchmark for sustainable and efficient utility management.

Category: Technology

Exceptional Digital Transformation Initiative - Kodak Alaris Kodak Alaris won this award for its powerful display of digital innovation, which transformed a high-stakes, time-sensitive process at the iconic Jebel Ali Racecourse.

By deploying an AI-powered solution to process thousands of handwritten forms for the “Pick & Win” program with 97% accuracy, it achieved an 80% reduction in operating costs. This partnership didn’t just enhance efficiency; it revolutionized the visitor experience, proving the transformative power of intelligent document processing.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Healthcare

Innovative Collaborations and Partnerships - Faircare Counselling By pioneering a model built on deep, crosssector collaboration, Faircare Counselling has transformed the delivery of mental health services. Its innovative partnerships with charities, corporations, and councils have produced incredible, measurable outcomes, including a 58% increase in staff retention for a key partner. This unique approach, focused on long-term healing, has created a sustainable, scalable, and truly life-changing system for community mental wellness.

Category: Healthcare

Outstanding Community Impact and Engagement - Faircare Counselling With a mission to make high-quality mental healthcare accessible to all, Faircare Counselling has made a profound community impact. Its culturally sensitive, multilingual support system provides a vital service in regions where care can be stigmatized or inaccessible. Through a “community support scheme” that donates therapy sessions to the underserved and offers long-term healing, it has created a powerful, human-first model that transforms lives.

Category: Hotels

Outstanding Leadership (Personal Achievement Award) - JS Anand, Founder and CEO of LEVA Hotels After a distinguished career with top international hotel chains, JS Anand earned this award for his entrepreneurial vision.

He identified a key gap in the market for affordable luxury and launched LEVA Hotels, built on a unique and sustainable model of transforming underperforming properties into vibrant, profitable establishments. In just a few years, his vision has scaled to 10 hotels, setting a new global standard for homegrown hospitality brands.

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Category: Banking & Finance

Ground-Breaking Products Services - First Abu Dhabi BankSolutions In a move that redefines its role from a bank to a fintech partner, First Abu Dhabi Bank (FAB) launched a ground-breaking whitelabel Treasury Management System. As the first of its kind from a GCC bank, this scalable, cloud-hosted platform provides corporates of all sizes with real-time financial visibility and control. This innovative solution democratizes access to sophisticated treasury tools, setting a new standard for corporate banking.

Category: Banking & Finance

Outstanding New Product Service Launch - First Abu Dhabi Bank This award recognizes First Abu Dhabi Bank (FAB) for revolutionizing receivables management with the launch of its FABeAccess Electronic Direct Debit API Suite. As the first API-driven system of its kind from a major bank in the UAE, the groundbreaking solution provides businesses with a seamless, automated, and secure method for real-time collections.

By streamlining payments, this launch has set a powerful new industry benchmark for efficiency and digital innovation.

Category: Technology

AI and Machine Learning Innovation Excellence - FINESSE FINESSE has transformed cybersecurity into an intelligent, adaptive defense framework. From its 24/7 Cognitive Security Operations Center, it deploys a sophisticated suite of AI-driven solutions.

Its cutting-edge Generative AI Gateway protects against emerging threats, while its AI-powered Zero Trust architecture creates a dynamic, proactive shield, setting a new standard for protecting organizations in the modern threat landscape and earning it this award for innovation excellence.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: AI - Customer Experience

CX Excellence Achievement Award - Al Futtaim Group For launching its innovative AI-powered loyalty platform, “Blue,” Al Futtaim Group was honored for excellence in customer experience. The platform’s intelligent lifestyle advisor delivers hyperpersonalized recommendations and a seamless, one-click experience, unifying dozens of brands. This proactive and valuedriven approach has not only deepened customer engagement but has also set a formidable new benchmark for CX in the region.

Category: AI

Innovation Excellence - Al Futtaim Group Al Futtaim Group demonstrated exceptional vision by embedding a comprehensive AI strategy into the core of its diverse operations. With C-suite leadership driving the initiative, innovation has flourished beyond customer engagement to optimize logistics, analytics, and efficiency. By establishing a dedicated “AI Factory,” the group has created a scalable model for innovation that has yielded significant gains and a sustainable competitive advantage.

Category: Telecommunications

Outstanding Sector Leadership and Growth Tariq Alkamdi, Director of Cloud & IP Delivery – DU Tariq Alkamdi was recognized for his outstanding leadership at the forefront of a major telco’s digital and hybrid cloud transformation. By spearheading the creation of a next-generation cloud platform and embedding AI-driven smart infrastructure, he has redefined the company’s entire technology strategy.

His leadership has delivered exceptional operational excellence and savings, setting a new benchmark for digital transformation in the region’s telecommunications industry.

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Category: Aviation

Visionary Leadership Award - Jubran AlBreiki - Chief Executive Officer Etihad Airport Services This award celebrates Jubran AlBreiki, whose visionary approach has masterfully reshaped Etihad Airport Services. He orchestrated the organization’s transition into a fully independent entity, embedding a culture of innovation, accountability, and resilience. By balancing ambitious strategic goals with a profound commitment to his people, he has driven remarkable growth and defined what truly forward-thinking leadership looks like in a complex global industry.

Category: Business Aviation

Ground-Breaking Products/Services - RoyalJet FBO This award celebrates the award winning RoyalJet FBO, which has set a new global benchmark for luxury and excellence in business aviation. Combining state-of-theart infrastructure with flawless operational efficiency and deeply personalized care, it delivers an unmatched experience for the world’s most discerning travelers. This facility has fundamentally elevated the standard of premium ground services in the industry.

Category: Travel and Tourism

Exceptional Products/Services - Lunajets Believing that travel is more than just reaching a destination, Lunajets has redefined the luxury experience by curating truly unforgettable journeys.

Its services are built on a foundation of bespoke service, relentless innovation, and an ingrained client-first philosophy. By transforming private aviation into an art form, Lunajets has set a new and inspiring industry benchmark for exceptional products and services.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Banking & Finance

Outstanding Community Impact and Engagement - National Bank of Fujairah PJSC Deeply rooted in its home emirate, NBF has fostered exceptional community engagement through impactful initiatives.

Its cornerstone annual Fujairah Run now attracts nearly 4,000 participants, promoting active lifestyles and community wellbeing. By also championing hands-on environmental conservation through its partnership with Emirates Nature-WWF and nurturing local artistic talent, NBF has created a powerful, multifaceted program dedicated to the community it serves.

Category: Banking & Finance

ESG Excellence - National Bank of Fujairah PJSC NBF has shown a profound commitment to ESG Excellence by embedding sustainability into its core business operations. With robust governance from its Board Risk and Sustainability Committee, the bank has grown its sustainable finance portfolio to AED 2.8 billion and integrated ESG due diligence across hundreds of client assessments.

This comprehensive approach, backed by four ISO certifications, showcases a new standard for responsible banking.

Category: Banking & Finance

Outstanding Sustainability Initiative - National Bank of Fujairah PJSC National Bank of Fujairah (NBF) has demonstrated exceptional leadership by acting as a collaborative partner to its business clients. The bank launched the innovative “Living Business Programme” to guide businesses on their own sustainability journeys, providing access to experts, tools, and actionable roadmaps.

Through this initiative, NBF has empowered dozens of companies to implement projects in waste management, energy, and responsible procurement.

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Category: Telecommunications

Innovative Collaborations and Partnerships - Omantel For its work in forging deep, purpose-driven collaborations with global technology giants like Huawei, AWS, and Google, Omantel received the award for Innovative Collaborations and Partnerships. The operator has built a powerful national innovation ecosystem by launching a national cloud, a center of excellence, and the region’s first distributed cloud edge.

These strategic partnerships have unlocked immense value and firmly positioned the nation as a vital digital hub.

Category: Telecommunications

Industry Trailblazer - Omantel Recognized as an Industry Trailblazer, Omantel has successfully evolved from a national operator into a formidable regional leader in digital infrastructure.

As the first to launch a standalone 5G core in its home country, it now provides 92% population coverage with next-gen services. Furthermore, its international wholesale operations now serve over 55 million customers, establishing the nation as a critical digital gateway between continents.

Category: Telecommunications

Workforce Development and Empowerment - Omantel Omantel was honored for its exceptional commitment to Workforce Development and Empowerment. With an impressive 94.3% Omanization rate, the company places its people at the center of its transformation. Targeted initiatives like the ‘NOVA’ program, which prepares the next generation of women leaders, and the ‘Generation Z’ program for fresh graduates, demonstrate a profound investment in upskilling and inclusion that is building a future-ready workforce to lead the nation’s digital future.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Banking & Finance

Exceptional Products/Services (Achievement Award) RAKBANK Business Banking Division As a premier partner to the nation’s vital SME sector, RAKBANK’s Business Banking division delivers a comprehensive suite of products tailored for growth. Its RAKvalue packages provide tangible benefits that save businesses thousands of dirhams annually, including free international remittances and access to cloud accounting software. Combined with robust digital platforms, the division has proven its deep commitment to empowering entrepreneurs.

Category: Banking & Finance

Exceptional Efficiency and Productivity Improvements - RAKBANK Disaster Recovery (DR) Framework In a masterclass of internal innovation, RAKBANK developed its own automated Disaster Recovery (DR) framework, delivering exceptional gains in efficiency and resilience. This initiative achieved a 70% reduction in application downtime and slashed recovery times by 90 minutes during drills. This custom-built solution has saved millions in operational costs while fortifying the institution against critical risks.

Category: Banking & Finance

Exceptional Digital Transformation Initiative - RAKBANK NPSS - Instant Payment Platform (IPP) This award recognizes a quantum leap into the future of real-time finance. By deploying its Instant Payment Platform (IPP) built on a modern microservice and hybrid cloud architecture, RAKBANK has radically transformed its infrastructure to be instant, seamless, and always available.

Offering next-generation features like “Request to Pay,” the platform sets a new standard for customer-centric digital banking in the UAE.

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Category: Banking & Finance

Customer Experience - CX Excellence - Skiply by RAKBANK This innovative payment solution for the education sector redefines customer experience by blending digital efficiency with a dedicated human touch. Through Skiply, each educational institution is assigned a personal portfolio manager, ensuring their unique needs are met with exceptional care. By extending its services beyond fee collection to include value-added collaborations, it creates a seamless and supportive journey for both institutions and families.

Category: AI

Marketing Campaign Excellence Award - Tav Technologies In a brilliant fusion of technology and humanity, TAV TECHNOLOGIES won this award for its campaign introducing “Aerona,” an AI-generated character, as its brand ambassador. The initiative aimed to make complex technology accessible and relatable, deploying its new digital persona across social media and even as a live hologram at a major expo. Achieving over 120,000 views, the campaign proved that innovative, human-centric storytelling can powerfully bridge the gap between AI and its audience.

Category: Aviation

AI and Machine Learning Innovation - Tav Technologies TAV TECHNOLOGIES is revolutionizing airport operations with its AI-driven PAX Analyzer solution. The platform turns real-time passenger data into powerful predictive insights, analyzing terminal flows to optimize staffing, reduce wait times, and enhance the overall passenger journey. Its implementation at a major airport saved $3.2 million through smarter resource planning, proving how AI can create tangible efficiency in complex environments.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Aviation

Innovation Excellence - SolitAir Reimagining regional air cargo, SolitAir earned this award for launching with a disruptive, digital-first model as the UAE’s first dedicated national cargo carrier. Its purpose-built “middle-mile” network is designed to unlock underserved markets with unparalleled speed and flexibility.

By integrating real-time visibility and automated workflows from day one, it has created a truly innovative, data-enabled solution for modern logistics.

Category: Aviation

Outstanding New Product/Service Launch - SolitAir This service launch has filled a massive gap in the regional logistics ecosystem.

SolitAir introduced high-frequency express cargo flights to connect underserved cities in hours, not days, and offers specialized handling for highvalue and sensitive goods—all managed through a unified digital platform. This is not an adaptation of a legacy model; it is a custom-built solution designed for agility.

Category: Technology

Innovation in Automotive Retail - Keyloop Keyloop is transforming the automotive retail experience for dealers and customers alike. At the heart of its awardwinning technology is “Fusion,” a dynamic platform that unites customer, vehicle, and dealership data into a single, powerful ecosystem. By seamlessly automating processes and personalizing interactions, it frees up retailers to focus on building relationships and delivering exceptional service at every touchpoint of the car ownership journey.

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Category: 50 Years of Excellence

Anniversary Milestone - Dubai Islamic Bank – DIB For half a century, Dubai Islamic Bank (DIB) has been a monumental force in global finance. As the world’s first fullservice Islamic bank, established in 1975, it not only pioneered an entire industry but has consistently set new benchmarks for innovation and performance. Now, celebrating its golden jubilee, DIB embarks on a bold new vision for the future, proving that true excellence is a journey of continuous transformation.

Category: 50 Years of Excellence

Anniversary Milestone - Microsoft UAE This award celebrates five decades of relentless innovation from Microsoft, a titan of technology. Since 1975, it has fundamentally transformed our world with breakthroughs spanning from the operating system and Xbox to the Azure cloud and now to artificial intelligence.

Its enduring mission to empower every person and organization on the planet has driven positive change and continues to shape our collective digital future.

Category: 50 Years of Excellence

Anniversary Milestone Excellence - JUMBO ELECTRONICS Ltd. Our congratulations go to Jumbo Electronics Ltd. for its 50th Anniversary Milestone Excellence. For 50 years, this iconic retailer has been a household name and a cornerstone of the region’s technology landscape. Since its founding in 1974, Jumbo has demonstrated remarkable resilience and an unwavering commitment to its customers, becoming synonymous with trust and excellence. This golden anniversary celebrates a legacy of innovation that has shaped consumer electronics and driven retail transformation for generations.

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Test 01 MEA BUSINESS ACHIEVEMENT AWARDS Category: Real Estate and Facilities Management

Outstanding Leadership - Amer Khansaheb, CEO & Board Member at Union Properties PJSC Taking the helm at a critical time, Amer Khansaheb has masterfully orchestrated a major corporate turnaround at Union Properties. By implementing a bold fiveyear strategy, he achieved a remarkable 59% increase in operating profit and repaid over AED 700 million in debt. His steady, results-driven leadership has restored investor confidence and launched a new era of growth with an iconic AED 2 billion project, ‘Takaya’.

Securing the Skies: Lufthansa Technik Middle East FZE Wins Cyber Innovation Award Recognized for Advancing Practical Cybersecurity Solutions in Aviation

A

s aircraft systems become increasingly softwaredriven, cybersecurity has become a critical focus for the aviation industry.

Lufthansa Technik Middle East FZE has earned the Aviation Achievement Award for Innovation in Aviation Cybersecurity for its outstanding work in protecting aircraft software systems.

Modern aircraft rely on Loadable Aircraft Software Parts (LASPs), which must be securely transmitted, stored, and distributed. These processes are vulnerable to cyber threats — prompting regulatory bodies to issue strict compliance mandates.

Lufthansa Technik AG (Dept FRAU T/ DS 33-B) responded with clear, costeffective, and practical cybersecurity solutions. Their guidance helps operators meet complex regulatory

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requirements without heavy operational or financial burden.

By simplifying implementation while ensuring full compliance, Lufthansa Technik has made it easier for airlines

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to safeguard their systems in an increasingly digital environment. This award highlights their leadership and commitment to advancing secure aviation operations worldwide.

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

mea-biz.com

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Interview

Leading with Purpose: Transforming Ground Handling at Etihad Airport Services Jubran Albreiki, CEO of Etihad Airport Services and recipient of the Visionary Leadership Award at the MEA Business Achievement Awards 2025, discusses how visionary leadership, digital innovation, and a strong focus on people and sustainability are driving a new era of excellence in aviation ground operations.

W

hat does winning the Visionary Leadership Award mean to you?

Winning the Visionary Leadership Award is a deeply meaningful moment for me—personally humbling and, more importantly, a powerful validation of the bold and collective journey we’ve undertaken at Etihad Airport Services.

This recognition is not just about individual vision, but about the shared courage to act on ambitious ideas and turn them into real results. Visionary leadership is nothing without action, and this award reflects the energy, ingenuity, and purpose that our entire team brings every day. I am proud to accept it on behalf of everyone at EAS who continues to transform inspiration into lasting impact.

How would you leadership style?

describe

your

I believe in **servant leadership**— empowering teams, removing barriers, and leading by example. Aviation is a high-pressure industry, so I prioritize transparency, accountability, and collaboration. By encouraging open communication and recognizing individual contributions, we’ve built a culture where everyone feels valued and motivated to excel. This approach translates into operational excellence.

When teams know their leadership trusts and supports them, they take ownership of their work, solve problems proactively, and deliver exceptional service.

What are some of the major milestones Etihad Airport Services has achieved under your leadership?

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J ubran Albreiki, CEO of Etihad Airport Services We have successfully transitioned Etihad Airport Services into a fully independent, self-sustaining ground handling organization. This includes establishing our own internal governance, systems, and service models. We navigated a seamless relocation to the new Zayed International Airport in November 2023, elevated our Service, Safety, and quality standards, retained key industry certifications, secured strategic contracts and embedded a performance culture that is driving results across every metric.

How is EAS adapting to meet evolving passenger expectations?

We recognize that passenger expectations today extend far beyond speed and convenience, they demand seamlessness, transparency, safety, and care. EAS is investing in smart process design, enhancing real-time coordination with airlines and stakeholders, and upskilling our frontline teams through

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investments in programs such as the customer experience (CX) programs.

Most importantly, we have reoriented our service mindset to view every touchpoint as a brand experience.

What steps has EAS taken to support sustainability in aviation operations?

Sustainability is a core pillar of our strategy.

We have introduced biofuels into our GSE fleet, adopted electric equipment across key operations and implemented energysaving initiatives at our facilities. Beyond infrastructure, we are fostering a culture of environmental leadership across our teams. Our roadmap aligns both national and global aviation sustainability goals, and we are proud to be contributing to a greener, more responsible future for ground handling.

AI-powered platforms that turn data into rapid, high-impact insights. Ultimately, we’re cultivating a digital-first culture where technology accelerates agility, continuous improvement, and sustainable growth.

What are your top priorities for the next few years?

Our focus is fourfold: operational excellence, sustainability, people development and of course delivering returns for our shareholders. We aim to scale our services while maintaining high standards, deepen our digital capabilities, and lead in sustainable ground handling.

At the same time, we are investing in leadership development and workforce engagement, ensuring our people are future ready.

Can you share a leadership challenge that shaped your growth as a CEO?

J ubran Albreiki, CEO of Etihad Airport Services

Visionary leadership is nothing without action, and this award reflects the energy, ingenuity, and purpose that our entire team brings every day.accelerate our growth How would you describe the workplace culture at EAS? We are building a culture rooted in accountability, inclusiveness, and continuous learning. Safety is nonnegotiable and collaboration is our strength. We have made great progress in breaking silos, encouraging innovation from all levels, and recognizing individual contributions. Our people are our greatest asset, and our culture reflects that belief in every decision we make.

What role does innovation and digital transformation play in your current strategy?

Innovation and digital transformation sit at the heart of our strategy—they shape every decision, process, and investment. We’ve already migrated core operations to a next-generation ERP and cloud infrastructure, enabling real-time maintenance, smarter planning, and proactive safety monitoring. Strategic funding is now channelled toward

Guiding Etihad Airport Services through its carve-out from a larger conglomerate was the crucible that shaped me as a CEO. I had to drive rapid stand-up of new systems and governance while safeguarding day-to-day performance— demanding equal measures of urgency and composure. Navigating that transition reinforced three truths: lead with crystal-clear direction, match tough decisions with empathy, and empower capable people to own outcomes. Those principles now anchor how I steer the organisation through every wave of change.

What advice would you offer to emerging leaders in the aviation industry?

Stay grounded in your values but never stop learning. Aviation is an industry of constant movement. What sets leaders apart is their ability to navigate change with resilience and vision. Build relationships, listen more than you speak, and always keep the customer and your people at the heart of your decisions.

Leadership is not about control, but it is about influence, trust and a purpose.

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OPINION PIECE

WALKING THE INTEREST RATE TIGHTROPE:

Tax Pitfalls of Mispriced Intra-Group Loans In the gleaming skyscrapers of Dubai and across the UAE’s business landscape, a significant tax shift has quietly transformed how company groups handle their internal financing.

Since June 1, 2023, the introduction of corporate tax has put a spotlight on those seemingly innocuous loans, guarantees and cash pooling arrangements between related companies

T

he End of Casual Internal Financing

For years, UAE companies within the same group freely set interest rates and fees on internal financing with minimal scrutiny. A parent company might lend to its subsidiary at 1% interest simply because it seemed reasonable or perhaps offer interest-free financing as a matter of convenience.

Financial instruments like intercompany loans, cash pooling, guarantees and factoring were implemented with rates often determined by simple preference rather than market conditions.

The Federal Tax Authority (FTA) has dramatically changed this landscape.

Now these arrangements must follow the “arm’s length principle” (ALP) – meaning related companies must treat each other as if they were independent entities negotiating in the open market.

The Wide Net of “Related Parties” The definition of “relatedness” extends far beyond what many business

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Ownership structures with 50% direct or indirect control Control mechanisms including profit rights, board seats, voting rights or “significant control” over another entity The concept of “Connected Persons” adds another dimension to this framework. This typically refers to relationships between individuals and companies, such as: When an individual directly or indirectly owns or controls a company When someone holds a director or officer position in an organisation When partners in unincorporated ventures have other related parties These definitions cast a wide net, capturing many business relationships that previously operated without tax implications in the UAE’s business ecosystem.

Documentation: The New Compliance Burden

Patryk K. Karczewski, Partner, Head of Tax Practice, AMERELLER

owners might expect under UAE tax law.

Companies become related parties when they share: Family connections extending to fourth-degree kinship (think distant cousins)

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

T h e F TA’s e x p e c t a t i o n s f o r documentation represent perhaps the most significant operational change for UAE businesses. For even straightforward financing arrangements, companies must now maintain comprehensive records that demonstrate their adherence to market principles.

Take a simple intercompany loan as an example. The tax authority now expects businesses to document: A detailed analysis of loan terms, including issue date, duration, currency, repayment options and interest rate structure A thorough assessment of the borrower ’s creditworthiness to establish the lending risk

Evidence of comparable thirdparty loans with similar terms and credit profiles Calculated adjustments to establish an appropriate “arm’s length range” of acceptable rates This level of documentation transforms what was once a quick internal decision into a process more akin to commercial bank underwriting. For more complex instruments like cash pooling, factoring arrangements or hybrid financing, the documentation requirements become even more extensive.

The Hidden Danger: A Five-Year Window of Uncertainty What makes this compliance challenge particularly concerning is the FTA’s extended review period. Tax authorities have up to five years following the end of the relevant tax period to audit returns and make adjustments to relatedparty arrangements.

This creates a prolonged period of uncertainty for businesses. An interest rate or financing fee that was established today might be challenged years later and without proper documentation in place, the business simply becomes defenceless against any adjustments made by the authorities. The time gap between implementation and potential audit dramatically increases business risk.

Severe Financial Consequences The financial implications of noncompliance extend far beyond simply paying the adjusted tax amount. When the FTA determines that an interest rate or fee falls below market value, businesses face: Additional tax liability on the adjusted income Late payment interest of 14% per annum on the underpaid amount Potential accumulated interest charges reaching up to 70% of the underpaid tax if the assessment comes near the end of the fiveyear window.

These penalties can transform what seemed like a minor tax issue into a

significant financial burden that impacts both cash flow and profitability.

5. Consult with tax specialists familiar with the FTA’s evolving interpretations

An Unbalanced Power Dynamic

The New Reality of Related-Party Financing

The UAE Federal Supreme Court has established in key cases (No. 814 and 866 of 2020) that the relationship between tax authorities and taxpayers is regulatory rather than contractual. In practical terms, this means the FTA holds considerable enforcement power, while taxpayers face significant hurdles when challenging assessments.

Even when businesses disagree with the FTA’s positions or assumptions regarding market rates for financial instruments, the appeal process can be arduous and

The introduction of corporate tax has fundamentally altered the landscape for intra- group financing in the UAE. Arrangements that were once straightforward internal decisions n ow re q u i re m a r ket va l i d a t i o n , exte n s i ve d o c u m e n ta t i o n a n d ongoing monitoring.

For multinational corporations with established transfer pricing policies in other jurisdictions, this may represent a familiar extension of global standards.

THESE DEFINITIONS CAST A WIDE NET, CAPTURING MANY BUSINESS RELATIONSHIPS THAT PREVIOUSLY OPERATED WITHOUT TAX IMPLICATIONS IN THE UAE’S BUSINESS ECOSYSTEM unpredictable. This power imbalance underscores the importance of proactive compliance rather than reactive defence.

Practical Steps for Business Protection For UAE businesses utilising intra-group financing, several preventative measures can help maintain compliance: 1. Conduct a comprehensive review of all existing related-party financing arrangements 2. Develop benchmarking studies that establish market rates for each type of financing instrument 3. Implement formal documentation procedures that capture the commercial rationale for each arrangement 4. Consider periodic reassessments of long-term financing deals to ensure continued compliance

However, for local conglomerates and family businesses that have operated solely within the UAE’s previously tax-free environment, this represents a significant compliance challenge requiring new expertise and processes.

The days of casual intra-group financial arrangements in the UAE are firmly behind us. As tax authorities continue to refine their enforcement approach, businesses that adapt quickly to these new requirements will minimise risk and avoid costly adjustments.

Those who continue with business as usual face an increasingly uncertain future with potentially significant financial consequences.

Is your business prepared for this new reality of related-party financing under UAE corporate tax? mea-biz.com mea-finance.com

3521

OPINION PIECE

DIGITAL IDENTITY:

The New Cornerstone of Trust in MEA’s Banking Sector Muralidharan Rajagopalan Director of Sales, GBM Dubai explains that as banking goes borderless, instant and increasingly digital, identity has stepped out of the back office into the spotlight, no longer just a background check or a login step, but the foundation of every secure interaction, every tailored offer and every moment of trust between banks and their customers

F

or financial institutions across the Middle East and Africa (MEA), digital identity has evolved beyond a mere compliance checkbox and is fast becoming a cornerstone of trust and a defining feature of modern customer experience.

As the region continues its rapid journey of digital transformation, the ability to securely verify who a customer is, in real time and across multiple channels, is emerging as both a competitive differentiator and a frontline defense against escalating cyber threats.

For decades, Know Your Customer (KYC) protocols have served as the foundation of trust between banks and their clients. But today, as banking becomes more digital and interconnected, these methods are evolving. Traditional, document-based verification is giving way to more dynamic identity approaches that can keep pace with the speed of innovation and rising customer expectations. With the emergence of technologies like deepfakes and synthetic

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Muralidharan Rajagopalan, Director of Sales, GBM Dubai

identities, the need for smarter, more adaptive verification tools has become clear. In response, banks are looking to embrace advanced identity frameworks designed to address the realities of modern banking. This evolution is part of

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

a broader shift toward identity systems that are proactive, intelligent and deeply integrated into the user journey.

The Rise of Advanced Identity Frameworks Leading financial institutions in MEA are now moving towards adopting multifactor authentication (MFA), behavioral biometrics and AI-powered identity analytics to create a more secure, seamless experience for users.

These technologies help banks go beyond verifying “what the user knows” (like passwords or PINs) to authenticating “who the user is” and “how the user behaves.” It is not uncommon today for a digital banking session to involve biometric logins, device recognition and real-time monitoring of behavioral patterns such as typing speed or swipe behavior. When anomalies are detected, banks can take immediate action, all while keeping the experience frictionless for legitimate users.

This marks a strategic shift where identity is no longer a static attribute but a continuous, contextual process. And while this dynamic approach enhances security and enables more personalised, responsive customer journeys, it also introduces new operational complexities that banks must navigate.

The Challenge of Identity Silos and Fragmentation Among the most pressing of these complexities is the issue of identity silos.

Many banks, especially those operating across multiple geographies or with aging legacy systems, struggle with fragmented identity infrastructures. Identity data

might reside in multiple, unconnected systems, making it difficult to gain a single, holistic view of the customer. This fragmentation not only weakens security but also impedes agility and the seamless experiences today’s users demand.

Digital onboarding, for example, is often slowed down by inconsistent identity verification processes across platforms.

Customers might have to submit the same information multiple times, leading to frustration and drop-offs.

Banks must also contend with a rapidly evolving threat landscape. Fraudsters are increasingly leveraging automation, AI and social engineering to bypass identity controls. As such, it is not enough to simply “verify once.” Identity must be continuously authenticated and riskassessed, especially in high-value transactions or anomalous behaviors.

Building Trust with a Secure Digital Identity Ecosystem At Gulf Business Machines (GBM), we believe that a secure digital identity framework is foundational to enabling both innovation and resilience in the banking sector. That is why we work closely with banks across MEA to help them build and modernise their digital identity ecosystems, while integrating these into broader Zero Trust architecture.

The principle of Zero Trust is particularly relevant in today’s perimeterless banking environments, where users, applications and data constantly move across hybrid infrastructure. At the heart of this model lies strong Identity and Access Management (IAM) that ensures access is continuously verified.

By implementing robust IAM solutions, banks can ensure that access to critical systems and sensitive data is governed dynamically, based on user roles, behavior and real-time context. IAM also enables banks to enforce least-privilege access, automate compliance reporting and introduce adaptive authentication, all of which are capabilities that are essential in today’s complex threat and compliance environment.

With this, GBM’s strength lies in our deep regional presence and global standards. Grounded in local market understanding and regulatory insight, we partner with industry leaders such as IBM, Cisco and Fortinet to deliver enterprise-grade solutions that are both world-class and region-ready. As a trusted digital solutions provider, we help banks unify identity, security and compliance through a cohesive strategy, managing the full identity lifecycle from onboarding

sharing, consent management and personalised financial services across platforms. A well-architected identity system will not only reduce fraud but also open new opportunities for banks to innovate, from embedded finance to AI-driven advisory services.

There is also growing recognition among regulators about the importance of d i g i ta l i d e nt i t y. Ac ros s M E A , governments are investing in national digital ID programs and mandating

THIS MARKS A STRATEGIC SHIFT WHERE IDENTITY IS NO LONGER A STATIC ATTRIBUTE BUT A CONTINUOUS, CONTEXTUAL PROCESS to de-provisioning. By operationalising IAM as a central policy engine, we extend secure access across cloud and on-prem environments while ensuring seamless user experiences.

Beyond identity management, we ensure these systems are integrated with broader security controls, enabling rapid threat detection, automated response and containment of lateral movement in the event of a breach. These capabilities give banks the agility to scale securely and innovate confidently.

But technology alone is not enough.

We also work with customers to build robust identity policies, educate users and implement agile governance models.

A strong digital identity program is as much about strategy and process as it is about tools.

Digital Identity as a Strategic Enabler Looking ahead, digital identity will i n c re a s i n g l y s h a p e h o w b a n ks differentiate themselves. As Open Banking initiatives mature in the region, identity will serve as the bridge between ecosystems, enabling secure data

stronger cybersecurity frameworks for financial institutions. This regulatory alignment, while adding pressure, also presents an opportunity: by aligning with these standards early, banks can position themselves as leaders in trust and security.

Final Thoughts Digital identity is becoming a strategic pillar of trust, innovation and resilience.

For banks in MEA, investing in advanced digital identity and trust systems will be about delivering secure, seamless and customer-centric experiences in a hyperconnected world.

At GBM, we are proud to support the region’s leading banks on this journey.

By combining cutting-edge end-to-end technology solutions with deep regional expertise, we help financial institutions build secure digital ecosystems where trust is earned and sustained with every interaction.

As the digital economy continues to expand, one thing is clear: digital identity is the new currency of trust, and those who manage it wisely will define the future of banking in the region. mea-biz.com mea-finance.com

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TRADE TARIFFS

TARIFF TSUNAMI:

Decoding America’s Trade Reset for Middle Eastern Financial Strategy Are we looking at the end of globalisation or a recalibration of global trade that will enhance it? Oscar Wendel Editor-At-Large, MEA-Finance, contends that those who anticipate the coming shifts and develop strategies to navigate an increasingly complex trade environment will be at an advantage

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or Middle Eastern financial institutions that have prospered by facilitating global capital flows, America’s tariff-centered trade strategy represents both a challenge and an opportunity within a rebalanced international economic architecture.

Predicting the nature and extent of America’s ongoing restructuring of global trade dynamics is complex, but it will undoubtedly have profound implications for Middle Eastern financial institutions and investors. Sovereign wealth funds, banks and investors who have traditionally allocated significant capital to U.S. markets need to pay close attention.

Nicolas Michelon, Managing Partner of Alagan Partners, a Dubaibased corporate geopolitics advisory, characterises the American approach as classic Trumpian negotiation tactics: “He promises you hell so that he doesn’t have to deliver it.” This strategy creates deliberate uncertainty—imposing tariffs, suspending them, reimposing them—

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Oscar Wendel, Editor-At-Large, MEAFinance

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

to force countries into a binary choice: access to the American consumer market or maintaining China-centered supply chains. The initial policy established a baseline 10% tariff on “everything from everywhere” with additional “reciprocal tariffs” on countries perceived as taking unfair advantage of the United States.

The formula used has little economic rationale, suggesting the policy is more geopolitical than economic, with China as the primary target.

Trump’s tariffs are commonly seen as protectionist, yet proponents argue that he is not a protectionist or an isolationist.

His objective in the tariff negotiations is the opposite: to break down trade barriers, create a fairer and more competitive global economy and promote global capitalism through free market activity.

The immediate response to the tariff announcements, where more than 75 countries reportedly expressed interest in negotiating new trade arrangements with the U.S., supports this.

Meanwhile, Ray Dalio, founder of Bridgewater Associates, warns that if this is not handled well, the outcome could be “worse than a recession.”

Dalio identifies five concurrent forces reshaping the global economy: monetary cycles involving credit and debt, internal political conflict, shifting global power dynamics, technological change and natural disasters—a rare historical convergence with profound implications for global financial stability.

Proponents of the current approach argue that comparisons to the Great

Depression are a misunderstanding of both history and current policy. They point to research by economists like Milton Friedman, who attributed the Depression primarily to misguided monetary policy rather than trade restrictions. It was the Federal Reserve’s tight monetary policy—raising interest rates to 6% in an economy with zero inflation—that transformed a market correction into a severe depression. Furthermore, artificially inflating wages and prices t h ro u g h g ove r n m e nt- s a n ct i o n e d cartels prolonged the recession. In contrast, the current administration’s approach combines tariffs with domestic deregulation, tax reduction and government spending cuts— policies diametrically opposed to those implemented during the Depression.

Michelon warns that Middle Eastern financial institutions should be aware of China’s counter-strategies: “China has many other weapons at its disposal, such as their willingness to heavily manipulate their currency... They hold a sizable chunk of U.S. debt, which they are starting to get rid of, gradually replacing with nonU.S. dollar-dominated assets and gold.

That’s a financial equivalent of the nuclear weapon.” This currency manipulation strategy appears to be underway, with the yuan devaluing more rapidly than the dollar. For Gulf states with dollarpegged currencies, this currency battle creates complex risks for trade financing, investment returns and purchasing power.

The U.S. has taken the position that tariffs are sophisticated financial instruments serving multiple functions: revenue generation, leverage in negotiations and economic realignment.

With projected annual revenues between $300 billion and $600 billion, compared to just $35 billion under previous frameworks, these tariffs represent a substantial fiscal shift that will affect U.S. Treasury markets, where many Gulf institutions hold significant positions.

Despite concerns, initial data from the 20% China tariffs showed a modest 0.7% rise in U.S. price levels. Economic

models suggest that in a 10% tariff scenario, producers absorb 4%, currency adjustments handle another 4%, and consumers bear only 2% of the cost.

The tariff strategy appears to aim at “re-industrialising America” by leveraging the country’s strengths in entrepreneurship and innovation.

America has been the leader and main beneficiary of capitalism, and its innovation and entrepreneurship underpin it. By creating more equitable global trade conditions under the threat of imposing tariffs, American businesses

America, for Africa, for Central Asia.” The current trade tensions serve as a “wakeup call” that the established international trade architecture—”basically China as the main producer and the US as the main buyer”—has become unsustainable.

This reconfiguration creates space for Middle Eastern economies to position themselves as alternative trade partners, production hubs and financial intermediaries.”

Several strategic considerations emerge for banks, investment houses and sovereign funds across the Middle East.

THIS RECONFIGURATION CREATES SPACE FOR MIDDLE EASTERN ECONOMIES TO POSITION THEMSELVES AS ALTERNATIVE TRADE PARTNERS, PRODUCTION HUBS AND FINANCIAL INTERMEDIARIES and international trade will benefit in the long run rather than relying on tariffs that lead to economic contraction.

If the tariff regime succeeds in strengthening the dollar’s fundamentals, it will have direct implications for Gulf currencies pegged to the US dollar.

However, Dalio’s concern about a potential “breakdown of the dollar’s role as a store of wealth” introduces significant long-term risk factors. China’s gradual divestment from U.S. debt instruments amplifies this risk. Financial institutions throughout the Middle East should closely monitor these currency dynamics, as they will impact a range of factors, including remittance costs, trade financing terms and investment returns.

While Michelon acknowledges that “everybody is losing” in the immediate term, he sees significant long-term opportunity for regions outside the U.S.China binary: “There is an opportunity for all countries in the world that are not U.S. and China—for the Middle East, the GCC, for Europe, for Southeast Asia, for Latin

Trade finance operations may need realignment as global supply chains adjust. Currency hedging strategies will require revision in anticipation of potential fluctuations in the dollar.

Po r t fo l i o a l l o c a t i o n s s h o u l d b e recalibrated to account for the potential outperformance of U.S. industrial sectors over multinational corporations. Islamic banking institutions may experience increased demand for Shariah-compliant trade finance products as companies seek diverse financing sources to manage the complexities of cross-border trade.

Sukuk issuances tied to infrastructure development in reshoring initiatives could attract significant investor interest.

The arguments over whether the current tariff policies are a protectionist measure or a strategic leverage toward a more open global trading system are neither black nor white and will not be settled anytime soon. However, they will significantly influence how financial institutions throughout the Middle East position themselves for the future. mea-biz.com mea-finance.com

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LEADERSHIP SERIES

Bill Borden, Global VP of Financial Services, Microsoft

Positioning for the Present In these extracts from his Leadership Series Interview with MEA Finance, Bill Borden Global VP of Financial Services, Microsoft, he discusses the key technology driven developments, priorities and opportunities for banking across the region and how Microsoft is integrating AI into its financial services offerings

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

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an you elaborate on how AI will transform the industry, especially in terms of scalability and customer service?

Generative AI and the accessibility of the power of generative AI, and how it has been accepted and used, has been dramatic and exciting. We’ve been very focused on how we’re using our capabilities through the Microsoft cloud services that we offer around compute and data, AI and modern work and business applications. All are infused with AI so that our customers, and the software providers that build first-party solutions for the industry can use that and leverage that capability. And so, what it is generating is a whole bunch of ways to think about how AI can empower employees differently across the front, middle and back office with assistance, and with the ability to have data and insights in the palm of their hand.

If you are not thinking about how AI is going to help you reshape and rethink business processes, and how you deliver value as a company, you’re going to miss the opportunity to use this technology in ways that are going to help you to compete.

And the last area to mention is bending the innovation curve. How are you going to figure out ways to actually operate more efficiently and create value at a faster pace so that you can reinvest in the technology to move faster and quicker? At Microsoft we’ve set up our capabilities in our platform so that our customers do that.

What do you envision as the future of banking, and how should banks prepare for these changes?

It is really exciting how services can be brought in a tailored way to an individual or a business or a customer, because that’s what’s going to be expected in the marketplace. And so, this idea of an assistant helping a relationship banker or a customer service provider answer questions quickly, or have immediate access to knowledge about you as a customer to solve your problem on the phone or through the internet, so that you can move on and get to actually talking about how you can be served differently or with different products - that’s what’s happening today. Using the technology to think about how you manage fundamental business processes differently.

Those are the things that are going to be exciting. AI is going to fundamentally change how financial services are actually more inclusive and democratised throughout the world.

What steps can banks take to foster an innovation ecosystem within their organisations?

The first step is thinking organisationally and culturally about how you want to communicate it to your staff,

SO, IT’S NOT IF THIS TECHNOLOGY IS GOING TO BE USED, IT’S WHEN getting them to be curious about the technology and viewing it as something that’s going to help them in their roles.

Because the acceptance and the change management around using the technology is first and foremost going to allow you to accelerate, and use it beyond what the technology itself is doing.

So, the institutions that are making the most progress are starting with how they organise in a way that they can understand how to use it across their compliance, security and risk structures, and how they’re going to manage the technology in a safe and secure way. They’re in a regulated industry and therefore have to do things with transparency and in a way that can show they’re protecting the use of the technology and protecting how it is used for customers. So, organising

AI IS GOING TO FUNDAMENTALLY CHANGE HOW FINANCIAL SERVICES ARE ACTUALLY MORE INCLUSIVE AND DEMOCRATISED THROUGHOUT THE WORLD

your organisational culture and your organisational operating model is my first suggestion around how to move fast and quickly.

Secondarily, pick use cases that go deep on that and are really going to have a transformative effect around how this technology can be used, as a proof point.

Customer service is a space where there’s a lot of focus on how you can actually have much more adaptive s e r vic ing, muc h more ser v ic in g associated with knowing the customer’s background and what their challenges are, so that you can serve them quickly on the call, and then provide them with additional value beyond the call.

Wells Fargo has created an assistant for their branch sales service managers to engage with customers and give information in a much quicker way.

They’re finding out they can take tasks that used to take 10 minutes and now take only 30 seconds. In the development community, the programming community using copilots and GitHub Copilot actually create code faster and are able to test it more quickly. Organisations like Citigroup - 40,000 developers using Copilot to help them get efficiencies around how they code. So, finding large areas and proof points right around how the technology can work and then showing the return on that. That’s going to allow you to create momentum and then continue to roll it out into other areas of your business.

How do you see the rise of AI and cybersecurity impacting the financial services industry in terms of customer experience and operational efficiency?

Productivity is top of mind around how this technology is being used, such as a copilot and assistant helping me through my day-to-day tasks, through my emails, through the materials that I have and able to summarise things, and to prioritise the work that I do.

We’ve started very much down the productivity path with our M365 Copilot mea-biz.com mea-finance.com

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LEADERSHIP SERIES

and many users are learning about what a copilot assistant can mean and how you can start to use that to create productivity around it.

Organisations like UBS that have rolled out Copilot to 50,000 employees across their organisation actually start to learn how to immerse themselves in the technology and start seeing where the productivity gains are. So, the idea of employee productivity is one area to think about focusing on.

How is Microsoft integrating AI into its financial services offerings to enhance customer experiences and operational efficiencies?

Our whole approach to thinking about how we serve the financial services industry, which we define as banking, capital markets and insurance, is at the forefront is how we take our Microsoft Cloud for financial services and build it in a way that’s robust and has security compliance and control structures that are needed to make it fit for purpose to serve the industry. And so that’s where we spend a lot of time first with our cloud approach, thinking about our compute, our modern work platform within 365, our Biz Apps platform with Dynamics 365, how we build data and AI services into that cloud stack and then how that can actually be used to create applications to serve the industry. That’s where we start first with our Microsoft Cloud.

Then we work very closely with our software partners that are building the best in class first party software applications for the industry across banking, capital markets and insurance,

I THINK THERE’S A BIG PUSH HERE TO ACTUALLY THINK ABOUT HOW TO USE THIS TECHNOLOGY TO JUST RESHAPE HOW INSTITUTIONS OPERATE whether they’re mature organisations or startup organisations.

We help them bring all of those capabilities together to think about in partnership how they can grow their businesses and use the technology.

And you’re starting to see that, whether it is around, solutions for employees, for productivity gains, solutions for customers to actually have their services and their capabilities tailored to them to take friction out of their product and their business processes end to end. You’re going to see some amazing things, I think, come out in the marketplace over the next few months.

How can banks in the UAE benefit from strategic partnerships with technology companies like Microsoft?

Banks in the UAE have a history of being forward thinking, and the ability to think about innovation and creating a hub of innovation. The financial institutions here have taken advantage of that push and that forward thinking to position to take advantage of this. This is a region where financial institutions actually moved into the cloud at a faster pace than some of the other regions in the world, taking advantage of the technology and the ability to modernise their applications.

BANKS IN THE UAE HAVE A HISTORY OF BEING FORWARD THINKING, AND THE ABILITY TO THINK ABOUT INNOVATION AND CREATING A HUB OF INNOVATION 42 44 MEABUSINESS

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As they’ve done that, they were able to take advantage of this next wave of generative AI because you’re not going to be able to have a strong generative AI enterprise strategy without it. If you’re not in the cloud you’re not getting your data ready to have analytics on top of it.

Banks here have had a good head start in that.

They ’ve positioned themselves now with generative AI capabilities and they’re focusing in on those use cases that they think are going to be dramatic, whether it’s around impacting how their services are delivered from a customer point of view or driving employee productivity so that they can serve customers differently. But more importantly, I think there’s a big push here to actually think about how to use this technology to just reshape how institutions operate.

We just put out our 2025 Work Trends Report Index and what’s top of mind for customers, I think, as a broad survey that we did shows, it is pretty clear here. Out of that survey, 82% of leaders have already said that they plan to use digital labour in the next 10 to 12 months; 46% I think is around that range of leaders who said that they plan on or are already using agents to actually automate processes and workflows; and then 72% of those leaders have said that they’re already really focused on bringing in AI talent.

So, it’s not if this technology is going to be used, it’s when.

And I think this region really reflects those results probably even at a higher level with regards to the movement that they have.

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