Shuaa Capital appoints new chairman after profit boost

BoardroomDubai-based financial services firm Shuaa Capital has announced a new chairman alongside financial results which show a marked improvement in profitability. Abdul Rahman Hareb Rashed Al Hareb, a UAE national, sits on the board of property developer Emaar and was, until recently, chairman of Oman National Investment. In addition to his new role, he is chief internal audit officer of Dubai Holding. Al Hareb takes over from Sheikh Maktoum Hasher Al Maktoum, a member of Dubai's ruling family. "Having achieved the goal of returning the business to profitability, I am pleased to be handing over the chair to Mr Al Hareb," says Al Maktoum in a statement. The statement came at the same time as the firm announced a net profit of 25.8 million dirhams ($7 million) for 2014, a dramatic rise from 2013, when profits were 2.8 million dirhams. In a press release, the firm said its asset management, investment banking and small-and-medium enterprise lending departments had each contributed to the gains. The asset management division by itself made a net profit of 20.7 million dirhams during 2014, said the firm, compared with 14.1 million the previous year. ©2015 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...


ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.