Banking Fit For The Future Banking Report 2022

The advancement and adoption of digital technologies is ushering in a new era in banking, with exciting opportunities for the taking.

Money: World's Top 5 Tech Investors 2022

Meet the top five listees from Forbes’ Midas List 2022, featuring the world’s leading tech investors.

Top VC-Funded Industries

These five industries have attracted the most funding from VCs worldwide in 2022, in terms of deals count over the past five years, according to Statista. Here we take a look at how they’re growing.

The Growth Of Giving In The GCC

According to a report by LGT, the international Private Banking and Asset Management Group, philanthropy in the GCC area has grown over the last ten years to hit an estimated 210 billion annually, in part driven by an increase in the number of business leaders committing to philanthropic practices.

World's Top 5 Unicorns

There are approximately 1,191 unicorns—a privatelyowned firm valued at more than 1 billion—worldwide, worth a collective 3.9 trillion, according to estimates from CB Insights. Here are the world’s top five. Figures are as of October 2022.

Back To Business

William E. Heinecke, billionaire Founder and Chairman of global hospitality group Minor International, sees plenty of reason for optimism in the travel markets. As his hotel company moves forward with a raft of Middle East openings, he’s betting on a steady and profitable period ahead.

Seizing Opportunities

Ajlan Bin Abdulaziz Alajlan, Chairman of the Ajlan Bros Group, is poised to gain ground as new windows open for the private sector in Saudi Arabia.

World's 5 Richest Investment Billionaires

Here are the richest five people in the world who built their fortunes from investing, according to Forbes. All five reside in the U.S. and are self-made billionaires. Net worths are as of November 11, 2022.

Cloud Pipe Dream

Let others worry about what it all means. FIVETRAN is proving there’s a fortune to be made just by piping data from place to place.

Money Heap

Garbage was the ultimate commodity business until a young McKinsey consultant saw how REPUBLIC SERVICES could transform itself into a profit machine by pricing trash at a premium. Now he’s CEO and Bill Gates is cashing fat dividend checks.

In Numbers: Following The Generational Wealth Of The Rich

Wealth enhancement, preservation, and succession are crucial parts of family planning for wealthy individuals and their families. The degree to which wealth holdings are self-made or shaped by inheritance can also substantially impact the next generation’s outlook and priorities.

5 Countries Gaining Millionaires

Millionaires are on the move. According to a report by Henley & Partners, 88,000 millionaires are expected to relocate to new countries by the end of 2022. This is a 252% increase compared to 2021, but still 22,000 fewer than in 2019. Here’s a look at the top five countries gaining millionaires this year.

World’s Top 5 Ultra-Rich Families

The world’s wealthiest families have amassed fortunes either from inheriting businesses, or from building multibillion-dollar empires from the ground up for next-in-line successors. Here are the world’s richest billionaire families according to Forbes data, with net worths as of August 10, 2022.

POWERING UP

Having been with his family business for over 40 years, Hussain Al Nowais, Chairman of AlNowais Investments, knows how to leverage opportunities. Right now, his focus is on Africa and green energy.

FUEL FUTUREPROOFING

Majid Jafar, CEO of Crescent Petroleum and Vice-Chairman of the Crescent Group, has a center-stage view of a global energy crisis. With an eye on the bigger picture, his more than 50-year-old U.A.E.-based family business is investing heavily in oil and gas to accelerate the transition away from fossil fuels.

THE MIDDLE EAST’S TOP 30 ASSET MANAGEMENT COMPANIES 2022

Last year was a great year for asset management companies in the Middle East, thanks to the performance of the region’s stock exchanges, which have created over $1 trillion in wealth since the beginning of 2021. The total market cap of the Middle East’s stock exchanges stood at $4.5 trillion as of July 31, 2022, compared to $3.2 trillion in December 2020. Among the largest indices, the ADI (Abu Dhabi Exchange) and the Saudi TASI gave the most returns, appreciating 68.2% and 29.8% in 2021, respectively. Syria’s Damascus Stock Exchange Weighted Index (DWX) appreciated 116.4% in 2021, making it the region’s best-performing index, according to the Arab Federation of Capital Markets.

THE MIDDLE EAST’S TOP 100 ARAB FAMILY BUSINESSES

Arab family businesses in the Middle East have so far this year seen many of the fields they are most active in—including retail, real estate, energy, and industrials—welcome a V-shaped recovery. And these businesses are themselves continuously evolving. While they still invest in their traditional businesses they are also moving towards new-age industries, investing in startups and, in some cases, founding their own new enterprises.

TRENDSETTERS

Egypt’s Oriental Weavers was taken over by the second generation of the Khamis family, spearheaded by sisters Yasmine and Farida, in 2020. They’re striving to build on the legacy of their father, Mohamed Farid Khamis, while continuing to be a global player in the rug and carpet business.

A Wander Through Bangkok’s Bustling Streets

Thailand’s famous capital city ignites all the senses as its evolving skyline entices a growing number of international visitors.

TOP 25 FINTECH COMPANIES 2022

From e-payments to open banking and crypto-assets exchanges, Fintech companies are booming across MENA, driven by high demand from a young and increasingly digital-first population.

DREAMING BIG

Fresh from securing $36.7 million in new funding, Muhannad Ebwini, Founder and CEO of Saudi’s HyperPay, is now looking at regional expansion. New products and a potential IPO are on the horizon.

RIGHT PLACE, RIGHT TIME

Abdullah Aldabbous, Founder and CEO of MyFatoorah, hit on an opportune idea at an ideal moment when he set up the Kuwait-based digital payments gateway in 2016. Having seen business boom in recent years, he’s now thinking of new ways to innovate.

POWERHOUSE

Saeed Mohammed Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA), led the utility provider to raise $6.1 billion in an IPO in April, making it the largest company on the Dubai Financial Market. IPO activity among state-owned companies is heating up in the Middle East.

How Two Africans Overcame Bias To Build A Startup Worth Billions

A pair of twentysomethings from Uganda and Ghana thought there was a fortune to be made bringing transnational financial services to Africa’s 1.4 billion people. With 5 million users, San Francisco-based Chipper Cash is just getting started.

The Great Resignation Hits The C-Suite

Burnout, inflation, and fears of recession are some factors reportedly leading to a higher rate of exits at the top level.

5 GCC Exchange Houses Going Digital

Many GCC-based exchange houses are embracing digital transformation and now process transactions through traditional branches and online apps. These are the top five, taking into account the value of their transactions in 2021, the number of app downloads, and number of users.

Middle East Banking M&As

M&A activity in MENA increased 11% in Q1 2022, reaching a total value of $21.1 billion, according to data from Refinitiv. The most active was the U.A.E., which saw a 5% increase in M&A activity to reach a total of $4.3 billion. Here are four of the most notable Middle East M&As in banking in H1 2022.

The World’s 5 Biggest Banks In 2022

There were 292 banks on the Forbes Global 2000 list for 2022. They held collective assets worth $113 trillion—over 19% of which belong to the top five. With $22 trillion in combined assets as of April 2022, here are the world’s top five banking titans.

SUSTAINING GROWTH

Ahmed El-Hoshy, CEO of fertilizer exporter Fertiglobe and producer OCI N.V., has a couple of issues on his mind: maximizing supply to a world on the brink of a global food security crisis and minimizing its impact on the environment. As Fertiglobe's market cap more than doubles, it seems to be in hand.

Naladhu Private Island Maldives

When I hear the phrase “the perfect getaway,” the image that immediately flashes to my mind is one of deep blue oceans, golden sand, and the sound of waves crashing against a shore.