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Tamweel
CEO: Adel Al-Shirawi
CFO: Gaurav Agarwal
Ownership: Istithmar, 21.6%; Dubai Islamic Bank 19.9%; other founders, 3.5%; general public on Dubai Financial Market, 55%
Flagship product: Ijara-style Shariah-compliant mortgages
Recent financing: $210 million RMBS priced July 2007 through Morgan Stanley and Standard Chartered; plans for further $300 million convertible bonds and $500 million sukuk by the end of 2007 |
Adel Al-Shirawi is not overly modest about his company’s plans to expand abroad. "We should win the Nobel prize for this," he says.
Perhaps he acquired a taste for international accolades after becoming one of the World Economic Forum’s Young World Leaders earlier this year. It is certainly a testament to his ambition that this US and British-educated 37-year-old, for the past three years the CEO of one of the two biggest UAE mortgage providers, can compare the influence of his firm’s ventures to those of Bangladeshi Nobel Peace Prize...
