Ahmed Abdelaal is the first non-Ghurair family member to lead Mashreq Bank. His first two Covid-marred years in charge as chief executive were a baptism of fire, but he has hired well and decisively, putting in place a cosmopolitan management team that is transforming the Dubai-based lender.

No regional lender comes close to competing with Mashreq Bank for the best digital bank award. Under group chief executive Ahmed Abdelaal and head of corporate and investment banking Joel Van Dusen, the Dubai-based lender has become not just a powerhouse in digital but a leader too. It continues to invest heavily in blockchain. Its Trade Tracker platform allows corporates to track all transactions in real time and to view them all in a single window. TradeFursaa sucks in data from the bank’s business lines, then uses AI and big data to identify opportunities for traders and exporters.

The Covid-19 pandemic has accelerated the move towards cashless economies as governments advise against the use of cash because of its role as a vector for the virus. That has left many financial institutions scrambling to upgrade their systems.

Abdul Aziz Al-Ghurair After taking over from his father, Abdul Aziz Al-Ghurair went against advice to put his own vision in place.