Business and Finance

Abdul Aziz Abdulla Al Ghurair Business Leader, Innovator, National Builder By Rizwan Zulfiqar Bhutta A Legacy Rooted in Vision The Al Ghurair Family and the UAE The story of Abdul Aziz Abdulla Al Ghurair cannot be told without first understanding the enduring legacy of his father, Abdulla Ahmad Al Ghurair, and the broader Al Ghurair family, pioneers who helped sculpt modern-day Dubai and the United Arab Emirates. The family’s entrepreneurial journey began in the 1960s when the patriarch Ahmad Al Ghurair founded Al Ghurair Group. Over time, the Group launched the UAE’s first cement factory, flour mill, sugar refinery, aluminium extrusion plant, packaging businesses, and even the iconic Al Ghurair Centre shopping mall in 1981. These ventures laid the foundation for diversified industry in the young nation and helped spark its economic transformation. Abdulla Ahmad Al Ghurair emerged as a visionary businessman and philanthropist. In the early 1960s, long before the Union in 1971, Abdulla built several schools including the very first in remote Masafi to bring education to underserved communities. His belief was simple yet profound: education strengthens individual lives and uplifts society as a whole. In 2015, he formalized his philanthropic legacy by pledging one-third of his personal wealth, AED 4.2 billion at the time, to create the Abdulla Al Ghurair Foundation for Education, a landmark gesture supporting Arab and Emirati youth through scholarships, skills-building, and digital learning platforms. Born on 1 July 1954 in Dubai, Abdul Aziz Al Ghurair graduated from California Polytechnic State University with a degree in industrial engineering and joined the family’s financial arm, Mashreq Bank, in 1977. He rose to Executive Director in 1989 and became CEO in 1990, before being appointed Chairman of Mashreq. Under his leadership, Mashreq became the first bank in the UAE to introduce ATMs, credit and debit cards, consumer loans, POS terminals, travelers’ cheques, and eventually digital banking initiatives such as Mashreq Neo and NeoBiz for SMEs. He expanded the bank’s international footprint by opening branches in New York, London, Bahrain, Qatar, Egypt, India, and Pakistan, positioning Mashreq as a global Emirati financial institution. In addition to his banking leadership, Abdul Aziz is Chairman of the Executive Committee of Al Ghurair Investment, the diversified family conglomerate active in food and resources, properties, construction, energy, mobility, and ventures. The group operates across approximately 50 countries and employs around 28,000 people. The group’s holdings include Al Ghurair Foods, which houses one of the region’s largest flour mills and the Jenan brand, along with mineral water, poultry, and animal feed. Other entities include Arabian Packaging, Taghleef Industries, Gulf Extrusions, CarsTaxi, auto distribution via EXEED, real estate developments like Al Ghurair Centre, and educational institutions such as Dar Al Marefa. In 2023, Abdulla Al Ghurair and family had an estimated net worth of approximately US 3.2 billion, which rose to around US 4 billion in 2024. Abdul Aziz personally has been estimated at around US 2.6 billion. Mashreq reported annual net profit of AED 9.01 billion in 2024, with operating income rising 24 percent, reflecting strong financial stewardship. An Enlightened Vision: The UAE and Its Future According to Father and Son Abdulla Al Ghurair viewed education not merely as policy, but as a moral obligation and civic duty. He was one of the first private citizens to invest in building schools before the formation of the UAE, guided by the philosophy that education empowers individuals, communities, and the nation. He believed that seeking an education is not only about personal achievement but also a civic and religious responsibility as Arabs and Muslims. He foresaw a modern UAE grounded in a knowledge economy, and saw his philanthropic efforts as integral to that future. Abdul Aziz has embraced and expanded his father’s philosophy with a modern, impact-driven approach. As chairman of the Foundation, he emphasizes strategic philanthropy, partnerships, measured impact, and scalable solutions over one-off gifts. He has stated that strategic philanthropy transforms lives by building ecosystems where people thrive. His signature initiative, the Abdul Aziz Al Ghurair Refugee Education Fund, launched in June 2018, targets conflict-affected youth in Jordan, Lebanon, and the UAE. With an initial commitment of US 32.6 million, it has enabled over 100,000 refugee youth, more than half of them girls, to access secondary, vocational, or tertiary education through partnerships with NGOs and universities. In the first wave, 20 selected organizations supported 48,000 young people aged 12 to 30. He also pledged US 10 million to become the lead donor of UNICEF and Islamic Development Bank’s Global Muslim Philanthropy Fund for Children, marking the first major Muslim philanthropic commitment to that platform, aiming to support health, education, and youth empowerment across Muslim-majority countries. Abdul Aziz holds strong faith in the future of the UAE. He believes that the nation’s youth are its greatest asset and that private sector leadership must invest in education, entrepreneurship, and innovation. He frequently states that modern challenges require evolution in giving. Philanthropy must become strategic, collaborative, accountable, and youth-centred. Through the Foundation, he has directed resources that have now reached over 239,400 youth, exceeding the original target by around 20 percent well before 2025. Additionally, Al Ghurair Foods signed a 50-year land-lease agreement worth over US 272.3 million in KEZAD, Abu Dhabi, for mega food-processing projects. CarsTaxi, the group’s mobility division, partnered with Al-Futtaim Toyota to introduce 1,300 Toyota Camry hybrids into its fleet, reflecting strategic diversification into sustainability. A Family Ethos of National Loyalty and Optimism What unites father and son is a deep-rooted belief in the potential of the UAE. Abdulla Al Ghurair saw the Union of the Emirates as an opportunity to transform society through infrastructure and education, including building schools and industrial foundations in remote areas before 1971. He believed education was a duty to uplift Arab youth and build capacity for a new nation. Abdul Aziz continues this vision with contemporary tools and reach. He believes in the necessity of developing future-facing skills, digital readiness, and inclusive opportunities for all young people across the Arab world. He sees the

From Europe to the Emirates How Inflation and Taxes Are Driving a Professionals and Billionaires Migration to the UAE By Peter Davis Over the past few years, Europe has faced an evolving economic storm: inflation has surged to levels not seen in decades, while many governments have responded with rising taxes to fund growing public expenditures and climate agendas. In this financial squeeze, the cost of living has soared, net incomes have shrunk, and wealth preservation has become more elusive for individuals and businesses alike. This economic turbulence is causing a silent exodus, particularly of high-net-worth individuals (HNWIs), entrepreneurs, and seasoned professionals, who are now finding new promise and opportunity in the Middle East, with the United Arab Emirates (UAE) emerging as a primary destination. Europe’s Squeeze: The Dual Burden of Inflation and Taxation In countries like Germany, France, the UK, and the Netherlands, inflation has eaten into real wages, and public confidence has waned. From rising energy bills to surging food costs, many Europeans are finding their disposable incomes drained. At the same time, progressive tax regimes and proposed wealth taxes have unsettled both middle-class professionals and ultra-wealthy elites. France and Germany, for instance, have faced waves of public protests and criticism due to policies targeting large inheritances, capital gains, and property wealth. In the UK, the recent increases in capital gains and dividend tax rates, alongside mounting National Insurance contributions, have created an environment where financial growth often leads to punitive taxation. For HNWIs, it’s not just about higher tax rates, it’s also about the uncertainty. With political rhetoric increasingly tilted toward redistribution and wealth taxation, many wealthy Europeans are preemptively diversifying their geographical presence, assets, and residencies. The UAE’s Winning Proposition Against this backdrop, the UAE has emerged not only as a financial haven but also as a lifestyle upgrade. Dubai and Abu Dhabi, in particular, have positioned themselves as leading destinations for professionals and billionaires alike, offering a compelling mix of economic incentives, lifestyle advantages, and geopolitical neutrality. Zero Income Tax – A Game Changer One of the most alluring features of the UAE is its zero personal income tax policy. In contrast to the 45% top marginal tax rates in some European countries, residents in the UAE enjoy full income retention. There are no taxes on salaries, dividends, capital gains, or wealth. While the UAE has introduced a 9% corporate tax on business profits exceeding AED 375,000 (about $102,000), the policy remains business-friendly and significantly lower than European counterparts, where corporate taxes can range from 19% in the UK to over 30% in France. Ease of Business and Global Connectivity The UAE government has invested heavily in making business setup seamless. Free zones across the country, such as Dubai Multi Commodities Centre (DMCC) and Abu Dhabi Global Market (ADGM), offer 100% foreign ownership, profit repatriation, and world-class infrastructure. Startups, digital entrepreneurs, and fintech companies are finding the regulatory environment increasingly supportive, especially with recent reforms aimed at digital assets and remote working. Add to that a strategic location between East and West, one of the best airports in the world, and visa reforms that now allow long-term residency for professionals and investors—and it becomes clear why the Emirates is rising as the world’s new expat capital. A Surge in Migration – Who’s Moving and Why Recent data points to a visible uptick in skilled migration to the UAE. From tech developers in Berlin to bankers in Zurich, and designers from Paris to consultants in London, the talent shift is real and rapidly accelerating. Professionals and Middle-Class Escapees Remote Workers & Digital Nomads: With the rise of flexible work post-COVID, many European professionals have discovered they can earn European salaries while living in tax-free jurisdictions. The UAE’s remote worker visa, introduced in 2021, enables exactly that. Tech Talent: Due to high demand from local startups and government-backed innovation hubs, engineers and developers from Europe are being actively recruited with attractive packages. Healthcare & Legal Professionals: With rapid development in medical tourism and private healthcare, UAE hospitals are drawing doctors, specialists, and lawyers from countries like Spain, Italy, and the UK, many of whom are looking for both better pay and lower tax burdens. Billionaire Boom: The Rise of the Ultra-Wealthy in the UAE One of the most talked-about trends is the sudden rise in the number of billionaires relocating to the UAE. According to the 2024 Henley Global Citizens Report and Knight Frank’s Wealth Report: The UAE added over 5,200 new millionaires in 2023 alone. It now ranks in the top 10 destinations globally for HNWI relocation. Dubai alone is now home to more than 70 billionaires, a figure that has doubled since 2021. These are not just Russian oligarchs or crypto tycoons, as was the initial impression, but include European family office heads, industrialists, tech founders, and luxury brand entrepreneurs. Many are moving entire business operations, private wealth structures, and family estates to Dubai and Abu Dhabi. The access to private banking, legal stability, and a vibrant luxury lifestyle only enhances the appeal. Why the UAE Wins Over Other Tax Havens The UAE offers more than just low taxation. Traditional tax havens like Monaco or the Cayman Islands may have favorable tax regimes, but they lack the infrastructural depth, economic diversity, and quality of life that the UAE provides. Dubai’s schools, hospitals, malls, and cultural hubs have become world-class. The city is cosmopolitan yet secure, with low crime rates, no political extremism, and remarkable religious and cultural tolerance. Moreover, the UAE’s alignment with sustainability goals, clean energy, and innovation has helped erase old stereotypes about the Middle East being purely oil-focused. Dubai’s hosting of COP28 and Abu Dhabi’s Masdar City show a forward-thinking mindset that appeals to global citizens looking for long-term residency and stable governance. Visa Reforms Encouraging Permanent Settlement Recognizing the growing interest from abroad, the UAE has rolled out an extensive set of visa reforms to support this wave of migration: Golden Visa: A 10-year residency for investors, scientists, professionals, and exceptional talents. Green Visa: A

Ahmed Ben Chaibah The Aquaman Of Enterpreneurship By Jane Stevens In the vast world of global entrepreneurship, few figures have captured the imagination and admiration of audiences like Ahmed Ben Chaibah. Widely known as “The Aquaman,” he is not only a Guinness World Record holder and luxury lifestyle influencer but also the visionary founder of AquaFun , the world’s largest inflatable water park. From a bold idea in 2013 to a global presence in 41 locations, Ahmed’s journey is marked by persistence, innovation, and an unwavering belief in creating meaningful experiences. In this exclusive interview with Magnav Middle East, he reflects on his entrepreneurial path, his values, and the future of AquaFun. Ahmed shared that the idea for AquaFun began with a daring concept: creating a giant floating waterpark in the sea that spelled out “DUBAI.” Many people dismissed the idea as unrealistic. He faced more than 600 rejections from banks, suppliers, and authorities, but his conviction never wavered. He explained that he was driven by the belief that the joy such a park could bring made every rejection worthwhile. For him, it was better to be laughed at for attempting something audacious than to live with the regret of never trying. Balancing multiple roles, from entrepreneur and motivational speaker to designer and innovator, Ahmed believes that these identities are all part of a singular mission. He emphasized that whether he is speaking on stage, testing new park features, or working with his team, it all ties back to his purpose: to create unforgettable moments for people. Staying close to this purpose, he said, keeps his vision alive and globally relevant. Representing the UAE on a global stage is something Ahmed takes to heart. He carries his cultural values, generosity, loyalty, and ambition,  into every aspect of his work. He explained that being Emirati means combining deep-rooted traditions with modern innovation and showing the world what is possible when people are given the space to dream big. What distinguishes AquaFun from other water parks is its focus on emotional impact, not just thrill rides. Ahmed explained that the goal isn’t merely to have the tallest or fastest slide, but to design experiences that make people feel like children again. Every detail,  from the sounds and colors to the staff’s energy,  is designed intentionally. AquaFun, he said, is simply the vessel used to deliver joyful and lasting memories. Multiculturalism has played a significant role in shaping Ahmed’s leadership and business. His team includes over 40 nationalities, a diversity that he sees as a major advantage. He noted that leading such a diverse team taught him to listen more and to respect every culture. This environment, he said, allows the best ideas to flourish and strengthens the company’s overall vision. Ahmed described the UAE as a unique environment where citizens and expatriates alike are encouraged to dream and build. He believes that the country’s infrastructure, safety, and leadership support innovation at every level. It is a place where big ideas do not just stay in the realm of theory but are quickly transformed into reality. Beyond business, Ahmed’s philanthropic efforts are central to his mission. He currently sponsors over 3,000 orphans worldwide and described this work as one of the most meaningful aspects of his life. Having experienced times of lack and later abundance, he believes both are tests. Giving back, he said, is the most impactful way to scale one’s life and ensure success reaches beyond personal boundaries. Despite receiving numerous accolades such as Entrepreneur of the Year and Influencer of the Year, Ahmed has his own definition of success. Personally, he sees success as having peace of mind, living without anxiety, and being able to give without limits. Professionally, it’s about making a strong impact and maintaining visibility. He believes that aiming to be the best pushes him to continually evolve and improve, not out of ego, but to inspire others and demonstrate what is possible with full commitment. Looking to the future, Ahmed is preparing to launch the world’s largest indoor inflatable waterpark in Riyadh, which he sees as a major milestone. He is also exploring opportunities in new markets like Syria and has a growing interest in the fields of wellness and travel. He believes that his experiences with dyslexia and ADHD give him a unique perspective, allowing him to see opportunities and solutions others might overlook. To young entrepreneurs, particularly in the Arab world, who are facing challenges and setbacks, Ahmed offered practical advice. He encouraged them to start with what they already have rather than waiting for perfect conditions. He believes that rejection, delays, and mistakes are all part of the journey and that the key difference between those who succeed and those who don’t is persistence. His message is simple but powerful keep going. Ahmed Ben Chaibah’s story is one of courage, creativity, and compassion. From a single bold idea to a global brand, his journey is a testament to what can be achieved with vision, resilience, and heart. Through AquaFun and his broader ventures, Ahmed continues to inspire a new generation of entrepreneurs and dreamers across the world.

Shaikha Aysha Alqassimi A Voice of Vision, Heritage, and Bold Leadership from the UAE By Afef Yousfi Ambition often competes with tradition, Shaikha Aysha Alqassimi stands as a powerful example of how the two can coexist, not only in harmony but in momentum. A changemaker, academic, and advocate for culture and identity, Shaikha Aysha represents the voice of a new generation of Emiratis: proud of their heritage, bold in their thinking, and unafraid to shape the future. Her journey is driven by a personal mantra: “inspired by the fear of being average.” But to her, this isn’t about perfection or public recognition, it’s about purpose. That single phrase, she says, has been a guiding force throughout her life. It reflects her inner drive to exceed limitations, set bold goals, and evolve constantly, not just for personal growth, but for the betterment of her community. It’s this mindset that has defined her academic pursuits, her unwavering support for local entrepreneurship, and her rise as a young Emirati woman with a voice that carries both confidence and compassion. At the heart of her values is a deep pride in Emirati culture, which she describes as a living legacy of respect, unity, generosity, and pride. Central to that is the Emirati spirit of karam, hospitality, as well as strong family ties and an unshakable sense of community. What distinguishes Emirati culture, she believes, is its ability to honor the past without being held back by it. “We celebrate our past, but we’re not limited by it,” she explains. “This duality is what makes our culture so powerful on the global stage.” Inclusivity, too, is something that resonates deeply in her worldview. Shaikha Aysha sees the UAE’s multiculturalism not as a byproduct of development, but as part of the country’s original blueprint. Founded on the principles of diversity, respect, and unity, the UAE has become home to over 200 nationalities, a testament to its success as a hub of talent, innovation, and peaceful coexistence. As she sees it, this openness has helped position the nation as a global model for collaborative growth. “We take pride in being global citizens while staying true to our roots.” She speaks passionately about the new generation of Emiratis, a cohort she believes is setting new benchmarks in leadership, innovation, and ambition. What sets this generation apart, she says, is their ability to blend deep cultural grounding with global fluency. Raised with the values of their ancestors and equipped with the tools of the digital age, they are uniquely positioned to lead across industries, from technology and sustainability to entrepreneurship and creative expression. “We’re not afraid to take risks, speak up, or lead change. We dream big, not just for ourselves but for the future of the nation.” When asked what gives the UAE its edge, Shaikha Aysha doesn’t hesitate: visionary leadership. From bold investments in education and technology to trailblazing initiatives in space exploration and green energy, she credits the nation’s success to its ability to anticipate the future rather than react to it. The UAE’s ability to remain agile, forward-thinking, and people-centric has placed it at the forefront of regional and global progress. Yet with all this modernity, she remains rooted in tradition. To her, tradition isn’t something to move away from, it’s something to carry with pride. “Tradition is not a limitation, it’s an identity,” she says. It’s this philosophy that allows her to move confidently between the old and the new, embracing both the values she was raised with, faith, family, and respect, and the dynamic tools of today’s world. She believes that true balance comes from understanding who you are and choosing how you evolve. Shaikha Aysha is also a passionate advocate for young Emirati women, encouraging them to believe in their voice and their value. Her message is one of empowerment: “You already have everything within you to shine. Don’t let doubt silence your voice or dreams.” For her, ambition is something to be celebrated, not apologized for. She urges young women to embrace their identity, stay grounded in their values, and lead with courage. “The UAE supports your growth, so dream loud, lead proud.” Looking to the future, Shaikha Aysha sees Emiratis not only excelling in regional leadership but taking their place on the global stage, in diplomacy, tech, sustainability, creative industries, and beyond. She envisions the next decade as a defining chapter, driven by youth who lead with both purpose and heart. In her eyes, the UAE won’t just be a global hub, it will be a global force for good. With every word she speaks and every initiative she supports, Shaikha Aysha Alqassimi redefines what it means to be a modern Emirati leader: one who honors her roots while lifting others toward the future, with clarity, conviction, and compassion.

Empowering Potential The Transformational Journey of Maryam Al Kass By Afef Yousfi To meet Maryam Al Kass is to encounter a remarkable fusion of purpose, professionalism, and impact. As a certified coach by the International Coaching Federation (ICF), a public health educator, and an experienced career development specialist, Maryam has spent more than 14 years helping individuals and institutions unlock their full potential. Her work spans sectors, from government health initiatives to leadership development and entrepreneurship, proving that true growth happens when education, purpose, and strategy align. Maryam’s professional journey began in the healthcare sector as an Occupational Health and Safety Specialist with the UAE Ministry of Health. Her mission quickly evolved from compliance to community education. Through more than 500 awareness sessions, she translated complex health and safety standards into practical, empowering knowledge for individuals and workplaces alike. Her drive to influence positive behavior change laid the foundation for a broader vision—one that addressed not only physical well-being, but emotional and professional development too. This passion for human development led her to the Department of Human Resources in Sharjah, where she took on the role of Career Guidance Specialist. Over the last decade, Maryam has impacted more than 5,700 individuals through customized training workshops and facilitated over 1,400 one-on-one coaching sessions. Her programs target key professional growth areas such as CV building, interview skills, personal branding, and leadership readiness. Her approach blends strategic insight with empathy, enabling job seekers and professionals alike to gain confidence and clarity in a competitive landscape. In 2015, Maryam founded ecaros Consulting for Occupational Health & Safety, a platform through which she has led over 480 empowerment workshops focused on personal development, team building, and workplace well-being. Her entrepreneurial vision expanded her ability to offer tailored training solutions, while maintaining a clear commitment to public education. She also authored The Little Paramedic, an innovative children’s book series that introduces young readers to life-saving first aid concepts in an engaging and educational format. Maryam’s expertise and influence extend beyond workshops and coaching. She is a certified international First Aid trainer, a member of the Arab Parliament for Training Experts, and has served as an Ambassador for UAE National Identity through the Watani Al Emarat Foundation. For three consecutive years, she was recognized as a Knowledge Ambassador by the Emirates Red Crescent. In 2023, her leadership and commitment to national development earned her a nomination to the Federal National Council. Her coaching philosophy, grounded in emotional intelligence and guided by ICF standards, emphasizes transformation through self-awareness and intentional growth. She works with individuals from all professional levels, helping them navigate challenges, define goals, and take strategic action toward lasting change. For Maryam, coaching is not just a service—it is a mission to ignite the light in others. Maryam Al Kass exemplifies how purpose-driven leadership and evidence-based practices can create measurable, lasting results in both individual lives and organizational cultures. Through her corporate training, coaching, and public speaking, she continues to deliver value to institutions seeking transformation and to people aspiring to reach their full potential. Her story stands as a model for sustainable empowerment, proving that with vision and commitment, leadership can begin at any level and ripple outward to change the world.

Salem Al-Hashmi From Phone Deals to Building the Future of Web3 By Hafsa Qadeer Long before blockchain entered the mainstream conversation, before Bitcoin headlines dominated the global news cycle, and before “Web3” became a buzzword, Salem Al-Hashmi was laying the groundwork for a future he couldn’t yet define, but one he was instinctively building toward. In the heart of Abu Dhabi, amid the hum of marketplaces and second-hand tech shops, a young Salem was making his first moves, not from a high-rise office or sleek co-working hub, but from the ground up in the fast-paced world of mobile phone trading. Buying, flipping, fixing, and negotiating, Salem developed not just a keen sense for commerce but an intuitive grasp of people. These early days were anything but glamorous, but they were real, and they taught him one of life’s hardest-earned truths: success doesn’t arrive, it’s built, piece by piece, trade by trade, call by call. At the time, he had no inkling that this scrappy hustle would later fuel a much bigger leap. Years passed, and when the COVID-19 pandemic brought the world to a halt, Salem found himself once again at a crossroads. The external chaos echoed internal uncertainty, missed calls, closed doors, lost momentum. But true to his nature, standing still wasn’t an option. While others froze or fled, Salem turned his focus toward what many still dismissed as digital gambling, cryptocurrency. But he wasn’t chasing hype or headlines, he was thinking long-term. “It wasn’t a gamble,” he reflects. “It was a calculated move toward the future.” Where some saw trends, he saw infrastructure, a new way to rebuild trust, transfer value, and reshape the very architecture of finance. He didn’t take shortcuts. Salem read obsessively, followed market patterns, made early investments, suffered losses, and recalibrated. Like many in the space, he initially got swept into the noise, fast gains, viral tokens, empty promises. But unlike many, he learned quickly. Those missteps became fuel for sharper strategy, and hype gave way to discipline. Soon, trading became more than a numbers game. It became a lesson in risk management, in emotional control, in delayed gratification. Salem’s efforts paid off. On Binance, the world’s leading crypto exchange, he ranked among the top three traders globally by Sharpe ratio, a measure that balances return with risk. It wasn’t just about earning, it was about earning smart. But profit was never the final goal. As he immersed deeper into the crypto ecosystem, Salem began to notice a troubling pattern: the space was crowded with noise, self-proclaimed gurus, questionable projects, predatory schemes. What disturbed him most was the vulnerability of those entering without proper knowledge, often lured by illusions of easy wealth. So, true to his builder’s spirit, Salem created a solution. What began informally became a movement, the Abu Dhabi Crypto Community. It wasn’t a company or a commercial brand. It was a safe space, both online and off, where curious minds could gather, ask questions without fear, and learn without pressure. “We don’t just spread awareness,” Salem says. “We build confidence and capability.” What started as informal chats turned into regular meetups. Conversations deepened, trust grew, and Salem became less of a public figure and more of a mentor. He taught people how to spot red flags, resist urgency, and walk away from anything promising instant riches. His golden rule? “If it feels like pressure, it’s probably a trap.” At the core of all his work is one unshakable foundation: values. Salem’s entrepreneurial compass is not driven by trends, but by faith and integrity. “What’s meant for you will reach you,” he often says, “but only if you work with honesty and intention.” In a space often defined by opacity and self-promotion, his approach stands out. He shares his trades publicly, walks others through his reasoning, and encourages a culture of radical transparency. For him, trust isn’t built by image, it’s built by action. Today, when asked what truly drives him, his answer is immediate: impact. Salem is no longer building for himself. He’s creating systems that empower others, platforms for education, mentorship, and ethical investing. His dream is clear: a UAE where every ambitious young person with a smartphone can access the same opportunities he had to fight for, regardless of their background. “Crypto is just the beginning,” he says. “The real mission is empowerment.” He envisions a Middle East that doesn’t trail global innovation, but leads it, a generation of coders, creators, and visionaries rising not from Silicon Valley, but from Sharjah, Abu Dhabi, and Riyadh. And for that to happen, he believes the technology must evolve alongside the people, rooted in community, led by ethics, and driven by a shared sense of purpose. Salem doesn’t seek the spotlight. He doesn’t position himself as a crypto mogul. He sees himself as a bridge, between old systems and new, between confusion and clarity, between ambition and meaningful action. As he continues to develop educational platforms, grow mentorship networks, and lead ethical investment initiatives, one thing is certain: his mission is bigger than his name. “Legacy isn’t what you leave behind,” he says. “It’s what continues because of you.” In a region charging toward its digital future, Salem Al-Hashmi isn’t just surfing the wave of Web3, he’s helping shape its very direction. And as a new generation of dreamers watches, learns, and rises with him, his story stands as a reminder that true innovation begins not with technology, but with intention.

Strategic Alignment Why ADNOC Sees Opportunity in Covestro Acquisition By Hafsa Qadeer When ADNOC first unveiled its plan to acquire Covestro last October, it surprised many observers. Here was a national oil company, long synonymous with crude exports, reaching into Europe’s advanced chemicals sector. Now, as Brussels opens an in‑depth probe under its new Foreign Subsidies Regulation, the deal is under the microscope, but the reasons behind ADNOC’s enthusiasm remain as clear as ever. At its core, the Covestro acquisition is about strategic alignment. ADNOC has spent the past decade moving “downstream,” shifting from raw oil and gas production toward higher‑value industries. Covestro, a German firm spun off from Bayer in 2015, specializes in high‑performance polymers and coatings used in electric vehicles, wind turbines, electronics, and more. By bringing Covestro into its fold, ADNOC isn’t just buying assets; it’s buying expertise, global customer relationships, and a direct ticket into fast‑growing clean‑tech markets. Why Polymers Matter Imagine you’re designing the next generation of electric cars. You need strong, lightweight plastics for body panels, durable insulators for high‑voltage wiring, and eco‑friendly coatings for interiors. Covestro already supplies those critical materials to automakers around the world. For ADNOC, owning that supply chain means more than diversifying revenue; it means shaping the products that will define tomorrow’s mobility and energy systems. Oil demand may slow as the world decarbonizes, but the appetite for advanced materials shows no sign of ebbing. Batteries, solar panels, hydrogen infrastructure, and electric vehicles all rely on specialized polymers. By investing in Covestro now, ADNOC is hedging its future, ensuring that its earnings aren’t tied solely to barrels of oil but also to the broader industrial transformation underway in clean technology. Scale, Capital, and Speed Another powerful draw is scale. ADNOC’s sovereign backing gives it access to capital at costs that few private companies can match. Covestro, by contrast, must tap Europe’s capital markets for funding. That difference matters when it comes to financing new production lines or cutting‑edge research centers. Under ADNOC’s ownership, Covestro could accelerate projects that might otherwise be delayed by tighter budgets. Whether expanding a plant in Germany to produce bio‑based plastics or funding recycling initiatives that turn old polymers into new ones, ADNOC’s financial muscle can translate into faster innovation and greater capacity, benefits that ultimately reach European customers and industries. Navigating the EU’s New Rules Yet regulatory scrutiny was always part of the picture. The EU’s Foreign Subsidies Regulation, in force since mid‑2023, empowers Brussels to examine whether state‑backed buyers gain an unfair competitive edge. The Commission’s preliminary concerns center on two points: an “unlimited financial guarantee” from the UAE government and a “committed capital increase” into Covestro. These measures, regulators argue, could have enabled ADNOC to outbid rival suitors. ADNOC has pushed back firmly but respectfully, noting its track record of transparent, market‑based deals in Asia and Europe. Covestro, for its part, has welcomed the review and pledged full cooperation. Both sides stress that the probe’s opening does not prejudge the outcome, and that all options, from unconditional approval to conditional commitments, remain on the table. A Potential Win‑Win If approved, the transaction could deliver benefits on both sides. Europe would gain fresh capital for research, new local jobs, and strengthened supply chains in critical materials. ADNOC would secure technology and market access that bolster its own sustainability goals, from recycling waste plastics into new products to developing bio‑based alternatives. That synergy is exactly the strategic alignment ADNOC had in mind. It’s not simply an oil company buying a chemical maker; it’s two businesses combining strengths for mutual gain. Europe gains a partner committed to long‑term investment; ADNOC gains the industrial know‑how and customer networks vital for the next decade. What to Watch Next The Commission has until December 2, 2025, to reach a decision. In the coming months, technical teams from ADNOC, Covestro, and Brussels will conduct market impact studies, clarify financial arrangements, and negotiate any necessary remedies. Observers will be watching closely: a green light could encourage further Gulf‑to‑Europe partnerships, while a blockage might signal a tougher stance on foreign state‑backed investment. Regardless of the outcome, ADNOC’s Covestro move has already sent a clear message: national oil companies can, and must, evolve. Energy and advanced materials are increasingly intertwined, and success will favor those who align capabilities with market needs. In the high‑stakes game of global industry, that kind of forward‑looking strategy may prove to be the strongest currency of all.

Arab Bank Group Posts $535 Million H1 Profit, Driven by 6% Growth By Hafsa Qadeer Arab Bank Group’s financial results for the first half of 2025 reflect both resilience and strategic clarity. The Amman‑headquartered lender reported a net income after tax of USD 535.3 million, up 6% from USD 502.8 million in the same period last year. This impetus was driven by a concerted effort to grow core lending while preserving strong liquidity and capital buffers, a balance that management has deemed essential amid ongoing regional economic headwinds. Balance‑Sheet Expansion and Funding Strength Over the six‑month period, the Group’s total assets increased by 9% to USD 75.2 billion, underscoring robust demand across its credit portfolio. Net loans rose by 6% to USD 39.8 billion, fueled primarily by corporate and institutional clients seeking trade‑finance and project‑funding solutions. At the same time, customer deposits climbed by 9% to USD 55.3 billion, reinforcing Arab Bank’s reputation for stability and its ability to attract and retain client funds even in a competitive market for deposits. This deposit growth not only underpins the bank’s liquidity profile but also enables a conservative loan‑to‑deposit ratio of 72%. By ensuring that a majority of lending is funded through stable client deposits, Arab Bank has guarded against funding volatility and sustained its capacity to support client activity across a range of sectors. Capital Adequacy and Asset‑Quality Discipline Maintaining a fortress‑like capital position remains a cornerstone of Arab Bank’s strategy. As of June 30, 2025, total equity stood at USD 12.5 billion, delivering a Common Equity Tier 1 ratio of 17.1%, comfortably above regulatory requirements. Management’s prudent approach to credit risk was equally evident in its provisioning philosophy: provisions against non‑performing loans continue to exceed 100%, ensuring that potential future losses are fully cushioned. This dual emphasis on capital and credit quality has allowed the bank to pursue measured growth without compromising resilience. By proactively provisioning against stressed exposures, Arab Bank has fortified its balance sheet and ensured that episodic market shocks do not erode its core capital base. Strategic Expansion: The Swiss Private‑Banking Merger A highlight of the first half was the completion of a landmark merger in Switzerland. Arab Bank Switzerland finalized the integration of Gonet & Cie SA and ONE Swiss Bank SA, creating a unified private‑banking platform with assets under management totaling CHF 18 billion. This consolidation strengthens Arab Bank’s position in Europe’s competitive wealth‑management landscape and deepens its service offering to high‑net‑worth clients with ties between the Gulf and Switzerland. By bringing together the heritage and networks of both Gonet and ONE, Arab Bank Switzerland is positioned to leverage synergies in client service, cross‑border advisory, and digital onboarding. The enlarged platform will allow the Group to capture new flows of wealth and to offer a seamless suite of investment, trust, and fiduciary services under a single, integrated brand. Leadership Insights: Strategy and Resilience Commenting on the half‑year results, Chairman Sabih Masri emphasized that the bank’s achievements stem from the “effectiveness of our integrated strategy and the resilience of our operating model.” He noted that, despite regional geopolitical uncertainties and uneven economic recovery, Arab Bank continued to execute on its long‑term vision, delivering sustainable growth and healthy returns for shareholders. Chief Executive Officer Randa Sadik echoed this sentiment, pointing to a 5% increase in Group revenue for H1 2025 as evidence of robust underlying performance. She highlighted the bank’s unwavering focus on maintaining high liquidity and preserving asset quality, “Our balance‑sheet strength remains our greatest asset,” she said, “allowing us to serve clients effectively while safeguarding stakeholder interests.” Guarded Optimism: Outlook and Strategic Priorities Looking ahead, Arab Bank’s leadership has signaled a commitment to deepening its core franchise while exploring selective growth avenues. The bank plans to leverage its strengthened capital base to support financing in sectors poised for expansion, including infrastructure, energy transition, and trade corridors linking the Middle East to global markets. At the same time, it will continue to invest in digital capabilities designed to enhance client experience and operational efficiency. The successful Swiss merger also opens the door to further international collaboration, enabling Arab Bank to offer integrated banking solutions that span retail, corporate, and private‑banking segments. By aligning its Middle Eastern heritage with European wealth‑management expertise, the Group seeks to capture synergies and deliver differentiated value to a broadening client base. Recognition of Excellence In addition to its financial achievements, Arab Bank was honored as the “Best Bank in the Middle East 2025” by Global Finance magazine. This accolade reflects both the bank’s market leadership and its consistent delivery of risk‑adjusted returns. It also underscores the industry’s recognition of Arab Bank’s strategic execution, capital discipline, and customer‑focused culture. Final Words Arab Bank Group’s first‑half performance in 2025 exemplifies a rare blend of growth and stability. By growing net income, expanding assets, and reinforcing capital and liquidity metrics, the bank has demonstrated that disciplined strategy and prudent risk management can coexist, even in a challenging regional environment. As the Group advances through the remainder of 2025, its ability to sustain these fundamentals while pursuing strategic expansion will be central to its long‑term success and its continued role as a pillar of the regional banking sector.

BurjX Earns FSRA Approval and Debuts a Fully Regulated Crypto Trading Hub in ADGM By Desk Reporter In a significant step for the UAE’s fintech landscape, BurjX, conceived and built in the Emirates, has been granted its Financial Services Permission (FSP) by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This milestone enables BurjX to operate as a fully compliant digital asset brokerage and custody platform, immediately offering a selection of over 100 digital tokens. Homegrown Platform With Global Design BurjX comes to life under the leadership of two visionary founders: Omar Abbas, co-founder of Canada’s NDAX exchange, and Adam Ferris, a Harvard JD/MBA alumnus with experience at Goldman Sachs. Abbas emphasizes that BurjX is “not another imported platform entering the UAE” but rather a native venture positioned to lead globally. Their mission resonated with regulators. In the words of Ferris, BurjX’s debut “validates the strength of our infrastructure…the calibre of our team,” and underscores their ambition to be a global blockchain contender from day one. Seamless On-Ramps for AED Transactions A standout feature is the platform’s deep integration with Zand Bank, which allows instant AED deposits and immediate access to trading across its digital asset lineup. This fiat-to-crypto gateway is rare even among regional exchanges and positions BurjX as a frontrunner in delivering frictionless, regulated access to digital finance. Institutional-Grade Security and Custody BurjX is one of the few platforms in ADGM licensed for both brokerage and custody. Beneath its user-friendly interface lies a hybrid architecture: A NASDAQ-grade engine capable of processing over 1 million transactions per second Secure storage powered by Fireblocks’ MPC protocols Multi-layered governance, including hot and cold wallet insurance coverage. This robustness ensures that both retail and institutional users benefit from top-tier infrastructure and risk management. Governance Anchored in Expertise GSquared oversight is provided by Dr. Ryan Lemand, a former Binance boa. His presence on the board strengthens BurjX’s regulatory foundation and internal compliance frameworks. Catering to HNWI and Family Offices BurjX is already welcoming institutional capital through its Private Client Division, offering personalized services such as over-the-counter trades, dedicated client coverage, and portfolio structuring. This aligns with the platform’s flexibility to serve both first-time crypto users and seasoned investors. Context in a Rapidly Expanding Market The move comes at a pivotal time. The UAE’s crypto ecosystem is projected to generate around US $396 million in revenue this year, with an estimated 3.88 million crypto users by 2026, nearly one-third of the population. In this environment, regulated, locally grounded exchanges like BurjX fill a critical void between global offshore platforms and local regulatory standards. What This Means for ADGM and the Region ADGM, headquartered on Al Maryah Island and known for its common-law system and strong governance, launched its virtual assets framework in 2023. With BurjX now fully regulated under FSRA, the centre takes another leap in positioning itself as the GCC’s virtual asset powerhouse. This approval signals to international players that the UAE isn’t just open to building digital finance it on solid ground. Looking Ahead With its license secured and trading platform live, BurjX plans to expand across the UAE and beyond. Future enhancements include additional token listings, expanded fiat support, staking and yield products, institutional custody services, and the potential to tokenize real-world assets