A Beacon of Innovation and Growth
Pakistani executives who excel in financial, investment and corporate circles share their experiences and success formula in life. These succssful executives lead their organisations by evolving innovative and growth-oriented policies
Ahmed Khizer Khan
Chief Executive Officer Daman
Investments
WORKING in both Pakistan and UAE has been an incredibly enriching experience, and I proudly consider both countries my home.
“I am deeply grateful to my homeland for shaping my values and providing me with opportunities to serve my fellow Pakistanis,” says Ahmed Khizer Khan, Chief Executive Officer, Daman Investments. On the other hand UAE’s visionary leadership and vibrant economy, has been a beacon of innovation and growth. My experiences at Daman Investments and with the Gargash Group have allowed me to contribute to the UAE’s progressive environment and commitment to excellence, have inspired me to push boundaries and pursue ambitious goals.
“Khan has had a dynamic and fulfilling career journey over the past three decades. With a degree in Economics from Bucknell University and an MBA from Rutgers University, Khan is an accomplished professional in the financial world. Khan started his career with a role in audit and management consulting at PWC in the United States. This was followed by a significant tenure at Charles Schwab, where Khan served as Vice president of consulting and Audit.
In 1997, Khan joined Citi bank, which marked a beginning of a decade long tenure for him in diverse roles across Europe and Asia.
“My time in Citibank culminated in key positions, such as Chief Operating Officer for Central Europe and country manager and CEO for Pakistan. These roles provided invaluable experience and insights into complexities of global market.”
In 2006, Khan transitioned to Barclays Global Retail and Commercial Bank as Chief Executive of Emerging markets. Khan in this job capacity was responsible for overseeing operations in 15 different countries including high growth markets like India, the UAE and Russia.
After spending a considerable number of years at Barclays, Khan joined the Islamic Corporation for the Development of the private sector in Jeddah as COO and Director of coverage, partnerships and syndication, overseeing initiatives in 35 countries. In 2016, Khan took the role at Daman investments, with a mandate to reengineering the business.
“Notably, we achieved over 100 per cent growth in profitability and executed one of the largest leveraged buyouts among family owned entities in UAE. This period has been very rewarding in Khan’s career as it allowed him to leverage his extensive experience to drive growth and innovation,” he said.
“In addition to his responsibilities at Daman Investments, Khan has been participating in the Gargash Group Family office, one of the largest business conglomerates in the UAE.
Khan believes that many factors have contributed to the economic success of UAE. Visionary leadership has set a clear direction for diversification and innovation, while the country’s strategic location has established it as a global hub for trade and logistics.
“A major contributor to its success is the UAE’s tax efficient and business-friendly environment. With low taxes and investor friendly regulations, the country has become a magnet for global investments. Moreover, investments in infrastructure and a strong focus on innovation, including AI and smart cities keep the UAE at the cutting edge of global development. The country’s cultural diversity and social stability provide a welcoming atmosphere for talent and investment.”
As an experienced finance expert, Khan advice to the young graduates is invaluable. Khan’s advice to young graduates who are about to embrace a career in the Middle East is to embrace continuous learning and adaptability. Since the industry evolves very quickly it is important to keep connected with the trends and technologies. He also emphasized the need to build strong network and to seek mentorship from seniors in the profession. Additionally, it is important to develop a global perspective, understanding diverse cultures and markets.
Khan’s job can be stressful at times, and it is challenging to maintain a balance between work and family life. However, engaging in a good game of squash, and spending time with his family renews his energy and takes away the stress of a busy professional life.
“My life in the UAE has been a source of great pride and satisfaction. It has not only been a full filling professional journey but also a wonderful place to raise my family, contributing to both our personal and collective success.”
Raheel Ahmed
Group CEO of RAKBANK
RAHEEL Ahmed has vast experience in the banking sector and currently serves as the Group Chief Executive Officer at RAKBANK. His personal journey through the years has made him a seasoned banker, having worked globally across various countries. With long tenures at Citibank, Barclays and Standard Chartered, Ahmed joined RAKBANK, bringing with him a wealth of experience.
“The UAE is unparalleled when it comes to innovative vision. Over a short period, the UAE has made tremendous progress in all fields. Through investments in education, infrastructure, an ecofriendly environment and impeccable law & order, it has become one of the most sought-after countries for those looking for brighter future prospects.”
Ahmed grew up in Pakistan in a highly academic environment, with both his parents being professors. He was based in Pakistan, UK, UAE & Singapore for various roles.
“Moving to different countries has its own challenges & opportunities. I landed in Abu Dhabi in 1993, and, of course, the UAE was different then. This is my third time back here; it is a different place with incredible progress in every sphere. Moving countries is challenging, especially for families, as there are disruptions in one’s life. Growing in your career requires certain sacrifices by your partner and children. I was fortunate to have full support from both.
“The forward momentum of the UAE is inspiring. The continuous innovation and the conviction that they can excel in everything they do is the hallmark of this country. The ability to make quick decisions and the vision to have a pulse on futuristic trends have all contributed to the success of the UAE.”
In his role as the Group CEO, Ahmed works with a diverse group of people from diverse cultures. At RAKBANK, there are people from around 57 nationalities working in various capacities. Despite the challenges, the bank maintains a congenial environment, accommodating diversity through regular team-building and a highly collaborative & non-bureaucratic culture. RAKBANK has created a professional and conducive environment for all employees, with 41 per cent of the workforce being women. “It’s important to keep in mind the long and short-term goals when making decisions. Things keep changing, and it is crucial to create sustainable momentum,” adds Ahmed.
Diversity and inclusion are central to the bank’s ethos. RAKBANK ensures inclusion through two main strategies: a value system built on 5Cs — connect, communicate, collaborate, and celebrate & creating cross functional councils that pull colleagues together based on common interests like sports, wellbeing, social activities etc. Both strategies are part of what is known as “The RAKBANK Way,” an innovative approach to keeping employees engaged and satisfied.
RAKBANK currently offers two graduate programmes: one for Emirati graduates and another for expatriates studying within the UAE or at foreign universities. “For around 15 positions, we received close to 4,000 applications from graduates from top-tier universities across the world. There is a definite shift for the younger generation that is now seeing the UAE as an ideal place to build their careers. The market is highly competitive, and it is important to invest in oneself as everyone is competing globally. The world belongs to the younger generation, and RAKBANK is open to hiring young people who bring with them a fresh approach towards meeting the challenges we face today.”
Looking ahead, Ahmed believes the credibility of leadership in the UAE to create a vision and deliver on it is almost hundred percent. Ahmed elaborates, With the ‘We the UAE’ vision of 2031 now set, I think we are going to see even bigger, better, faster momentum in forward society, forward economy, forward diplomacy and forward ecosystem. In the years to come, we will see massive developments in education, keeping in mind our rapidly evolving world. “The most important part of education is learning, unlearning and relearning,” Ahmed says.
“I am committed to my work and to RAKBANK. It’s my aim to leave a culture and set of leaders who will continue the legacy of our strategy and vision. I would also like to see more Emiratis joining the banking sector & becoming the leaders of today & tomorrow. They have tremendous potential to excel and can compete globally in any field.”
Aadil Ishfaq
CEO PitStopArabia
“I’VE ALWAYS been drawn to the world of technology and innovation. The thrill of exploring new frontiers and creating solutions that can make life easier, has been a constant source of inspiration for me. In 2015, I took the leap, to combine my passion for technology with my love for cars,” says Aadil Ishfaq, CEO of Pitstop in Dubai.
Ishfaq’s journey began with an engineering degree, followed by an MBA. He has had the privilege of working with some of the most influential companies like Microsoft, Cisco, and CA Technologies, where he held leadership roles across the Middle East and Africa.
“These experiences not only honed my skills but also provided me with a unique perspective on the tech ecosystem,” he said.
Ishfaq realised the need to provide a solution to the common problems car owners face and the challenges they encounter when looking for tyres. He found in most cases the process of buying tyres was tiering and limited hence Ishfaq decided to co-found PitStop which would make it easier for the customer to buy tyres.
“I wanted to create a platform that would simplify this experience, offering superior convenience and value. The idea was to make buying tyres online and, allowing customers to schedule installations at their convenience.”
One of the biggest challenges was, in building, trust in an industry traditionally dominated by brick and mortar.
“We had to educate the market about the benefits of buying tyres online and ensure that our service met the highest standards. Scaling our operations to meet growing demand while maintaining quality and efficiency was another significant challenge. Through continuous innovation and a customer first approach, we have overcome these obstacles and continue to grow.”
Currently the company has customers in UAE, however Ishfaq has plans of taking his business to other GCC countries. At an organisational level, the company follows the strict tenants of inclusion. By prioritising diversity, equity and inclusion in every aspect of the company strives to create a workplace where everyone feels valued, respected and empowered to contribute their best.
“Our team is a vibrant mix of individuals from diverse backgrounds, and we foster an environment of open communication and collaboration.”
Talking of the changes in the world of technology, Ishfaq has seen a remarkable change and transformation in the industry. With an experience of many years in the industry he has witnessed many changes in this fast paced industry.
Several key factors have contributed to the success of the business. The unwavering commitment to customer satisfaction has been a major contributor. By building a user friendly platform that prioritises transparency, quality products and reliable service the company has succeeded in attracting many clients over the years.
For Ishfaq living and working in Dubai since 1996 has been an incredible experience. Over the years Dubai has been the backdrop for many of Ishfaq life’s milestones including getting married and raising his children who were born and educated in Dubai.
Saqib Mahmood
Group Chief Commercial Officer
National Bonds Corporation
MAHMOOD has an impressive career journey of continuous growth and learning, marked by pioneering experiences and consistent success in achieving organisational goals.
Working in the financial sector has been incredibly rewarding, especially over the past two decades, which have seen the financial world undergo major volatility cycles.
During the past two decades Mahmood has held various leadership roles in the Middle East, Africa, and Pakistan, driving business growth, strategic planning and risk management. Mahmood has extensive work experience both in Pakistan and in Dubai. In Pakistan, Mahmood successfully managed extensive distribution networks and managed business growth in a competitive market.
“In Dubai, the dynamic business environment has been both challenging and rewarding. The emphasis on innovation and digital transformation in the UAE has allowed me to implement cutting edge solutions, and contribute to the country’s vision of becoming a global financial hub.”
Reflecting on the mega economic success of the UAE, Mahmood is of the opinion that four elements that have largely contributed to its success are visionary leadership, strategic investments, business-friendly environment, cultural diversity and focus on innovation. The UAE’s leadership has consistently implemented, forward thinking policies and strategies, driving economic diversification and growth. The strategic investments in infrastructure, technology, and innovation have positioned the UAE as a global business hub.
Furthermore, it offers a favourable business climate with attractive incentives for investors, streamlined regulatory processes and robust legal frame works. The UAE has fostered a vibrant, inclusive society that attracts global talent and promotes international trade and business collaborations.
Initiatives to promote digital transformation and smart technologies have propelled the UAE to the fore front of technological advancements.
The UAE has attracted people from all nationalities and by embarking on the policy of inclusion the challenges of bringing all nationalities together becomes an easier task.
“In my role I emphasize, open communication by encouraging open dialogue and listening to different cultural viewpoint and practices. Promoting team work and collaboration across cultural boundaries, is imperative and providing training and resources to enhance cultural awareness and sensitivity among members is crucial. Leading by example, demonstrating respect for all cultures and creating an environment where everyone feels valued and included are an integral part of our organisation.”
Mahmood’s long journey in his career renders him as an example to follow for the younger graduates who are starting their careers. His advice to the young graduates is to continuously seek knowledge and stay updated on industry trends and development. It is important to build a network and always be open to change and adaptable as the financial industry is dynamic and forever changing.
Mahmood’s emphasis has been on integrity throughout in his personal and professional life and his advice to the younger employees is to “maintain high ethical standards and integrity in all professional dealings”.
In today’s world technology dominates all walks of life. It is important to embrace digital tools and technologies to enhance ones skills and contribute to innovation in the sector. Also it is important to have a mentor who can support and guide and impart valuable career advice.
As a longtime resident Mahmood finds his life enriching and fulfilling in vibrant Dubai.
“The UAE offers a high quality of life, excellent infrastructure, and a safe environment. Professionally, the dynamic business environment and emphasis on innovation have allowed me to grow and excel.” In his leisure time Mahmood enjoys a good game of golf in the beautiful surroundings of Dubai golf clubs. With a passion for travelling Mahmood is well travelled and most of all he likes to spend his time with his family.
His interest in technologies and innovations that drive businesses growth, and his interest in strategic management makes him an avid reader of sources that can enhance his information.
“From the beginning, I have adhered to the fundamental principles of integrity, hard work, and continuous learning. Working in UAE has been very rewarding and a great learning curve.”