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February 15, 2025 FAMILY ENTERTAINMENT/ Tim Harrison- Jones, General Manager, LEGOLAND Dubai P.15 GROWTH/ Egypt-headquartered MNT-HALAN moves into the UAE P.51 THE RECAP/ Legends of Entrepreneurship Awards P.32 Founder and Chairman MultiBank Group P.22MARKETS MASTERING THE NASER TAHER/
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3 February 15, 2025 / ENTREPRENEUR.COM / Contents/February 15, 2025 P.22 Leading the Charge Naser Taher, founder and Chairman, MultiBank Group, reveals how he built one of the world's largest and most regulated financial derivatives institutions. FEATURES → Naser Taher is the founder and Chairman of the MultiBank Group.
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10 / ENTREPRENEUR.COM / February 15, 2025 Contents February 15, 2025 P.51 New Paths, Same Destination Egypt-headquartered MNT-HALAN, a unicorn and one of the biggest MENA fintech platforms, moves into the UAE. ‘TREPONOMICS IN THE LOOP P.41 Stay Sharp These are the mistakes that could ruin your North American expansion. P.56 All the regional business and entrepreneurial news you may have missed out on! P.15 Wonder Without Limits How TIM HARRISON-JONES has ensured the magic of LEGOLAND Dubai Resort has grown by incorporating more inclusivity. P.29 The Recap: Legends of Entrepreneurship Awards Check out all the highlights of this special #ENTMEAWARDS event that saw the attendance of former UK PRIME MINISTER BORIS JOHNSON STARTUP SPOTLIGHT ↑ Former UK Prime Minister Boris Johnson at the Legends of Entrepreneurship gala dinner in Dubai. P.29 BUSINESS UNUSUAL CEO Wissam Younane wissam@bncpublishing.net MANAGING DIRECTOR Rabih Najm rabih@bncpublishing.net ART DIRECTOR Simona El Khoury EDITOR IN CHIEF Anil Bhoyrul anil@bncpublishing.net MANAGING EDITOR Tamara Pupic tamara@bncpublishing.net FEATURES EDITOR Aalia Mehreen Ahmed aalia@bncpublishing.net REGIONAL DIRECTOR Mahdi Hashemi mahdi@bncpublishing.net DIRECTOR OF INNOVATION Sarah Saddouk sarah@bncpublishing.net GROUP SALES DIRECTOR – B2B GROUP Joaquim D’Costa jo@bncpublishing.net HEAD OF PARTNERSHIPS Samir Glor Samir@bncpublishing.net COMMERCIAL LEAD Anna Chipala anna@bncpublishing.net COLUMNIST Tamara Clarke CONTRIBUTING WRITERS Andrei Mincov, Bas Koojiman, and Fida Chaaban SUBSCRIBE Contact subscriptions@bncpublishing.net to receive Entrepreneur Middle East every issue COMMERCIAL ENQUIRIES sales@bncpublishing.net ENTREPRENEUR.COM Access fresh content daily on our website All Rights Reserved 2025. Opinions expressed are solely those of the contributors. Entrepreneur Middle East and all subsidiary publications in the MENA region are officially licensed exclusively to BNC Publishing in the MENA region by Entrepreneur Media Inc. No part of this magazine may be reproduced or transmitted in any form or by any means without written permission of the publisher. Images used in Entrepreneur Middle East are credited when necessary. Attributed use of copyrighted images with permission. All images not credited otherwise Shutterstock. Printed by United Printing and Publishing. PO BOX 502511 DUBAI, UAE P +971 4 4200 506 EntMagazineME Entrepreneur-me P.44 Outsourcing in a Market That Rarely Trends Here’s why fund managers outperform ‘do-it-yourself' investors /
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12 / ENTREPRENEUR.COM / February 15, 2025 Editor’s Note/ B oris Johnson came to our event last week. The former UK Prime Minister was the star attraction at the Legends of Entrepreneurship gala awards dinner in Dubai. And Johnson did exactly what I thought and hoped he would: he charmed the audience; he worked the room like the gifted politician he is, and he gave probably the best after dinner speech Dubai has ever seen. But I knew he would. What is less known about Johnson is his achievements. In the ever-changing world of UK Prime Ministers, Johnson gets a bigger kicking than most. He is blamed for Brexit, and ultimately the UK Conservatives being booted out of office in last year’s elections. However, when the history books are written, I suspect the critics will be kinder. During his eight-year spell as Mayor of London, he delivered 100,000 affordable homes. More importantly he created 31 new Housing Zones that will transform communities across London and create 80,000 new homes – not to mention transport hubs and schools. When he left his role as Mayor of London in 2016, employment in London was over 4.48 million - the number of people in work had risen by 20%. In May 2016, the unemployment rate in London was the lowest since records began. There were also 303,100 apprenticeship starts under his leadership. All this, especially his impact on developing housing, means that Johnson was a relentless and successful job creator. Every new project - not to mention the many successful apprenticeships - also sparked a new generation of entrepreneurs. During the awards dinner, one of the guests asked me “Why Boris? What’s he got to do with entrepreneurs?” The answer is all the above. Without new government led projects, and without the right political leadership to implement them, it doesn’t matter how good an entrepreneur you are, you will probably never get started. The awards dinner we hosted with Johnson also saw many successful individuals take the stage to receive their awards. Apart from being given the right platform to build on, especially here in the UAE where the government leadership for entrepreneurs has been exemplary, most of the winners had a similar back story. They started with an idea, often working out of their bedroom or garage, and ended up creating in some cases multi-billion-dollar empires. Johnson’s speech was inspiring. But equally so were the stories of the men and women who have taken risks, created, innovated and ultimately delivered. In an increasingly uncertain world, entrepreneurs show no sign of slowing down. Anil Bhoyrul Editor-in-Chief BORIS JOHNSON WAS A JOB CREATOR. HE DESERVES CREDIT FOR THAT. The former UK Prime Minister deserves recognition for his achievements
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15 February 15, 2025 / ENTREPRENEUR.COM / Wonder Without Limits Since taking on the role of General Manager at LEGOLAND Dubai Resort in 2023, Tim Harrison-Jones has ensured the magic of its in-house theme park and other services has grown by incorporating more inclusivity. by AALIA MEHREEN AHMED IMAGES COURTESY LEGOLAND DUBAI ↓ TIM Harrison- Jones is the General Manager of LEGOLAND® Dubai Resort.
16 / ENTREPRENEUR.COM / February 15, 2025 B/Creativity D o you remember how the air used to feel palpably different on the mornings of a school picnic? The jittery nerves of excitement at how the day could unfold is a memory that evokes nostalgia for many. It is perhaps that emotion which can best describe what it is like to walk into LEGOLAND Dubai, the popular theme park nestled within LEGOLAND Dubai Resort. “While children are undoubtedly at the heart of everything we do, we design every aspect of the experience to ensure adults can enjoy themselves just as much,” says Tim Harrison- Jones, General Manager, LEGOLAND Dubai Resort. “We believe that reconnecting with a sense of playfulness and wonder isn’t just for kids, it’s for the whole family. When crafting ideas for the park, we’re mindful of creating spaces and activities that allow parents to step into a childlike mindset, whether that’s through interactive attractions or simply joining their kids in moments of discovery and fun.” LEGOLAND Dubai, of course, is part of the triad that makes up LEGOLAND Dubai Resort- the other two being LEGOLAND Water Park and LEGOLAND Hotel, all of which opened in 2016. It was only in 2023, however, that Harrison- Jones took over the reins as General Manager. Since then, he has been meticu- lously ensuring that visits to the entertainment complex encompass more than just fun rides and casual outings. “LEGOLAND Dubai Resort is about more than just a day out!” Harrison-Jones declares. “It’s about creating a space where families can bond, where kids can dream big, and where everyone leaves with memories that last a lifetime. Our vision thus goes far beyond creating fun memories for families. It’s about inspiring creativity, sparking imaginations, and fostering meaningful connections. We’re passionate about giving children the chance to think outside the box, discover new possibilities, and learn while they play. With the power of LEGO® bricks, we want to encour- age kids to build, create, and explore with confidence and curiosity.” But in creating this sense of wonder and whimsy in children who visit LEGO- LAND Dubai Resort, a key pillar has been inclusivity, points out Harrison-Jones. “As a Certified Autism Center™, we’ve worked to create an environment where children of all abilities feel welcome and can enjoy every moment to the fullest,” he explains. “Cultural diversity is also a → Since its launch in 2016, LEGOLAND Dubai has been able to maintain its position as a family favorite, build brand loyalty, and consistently meet the needs of a diverse guest demographic.
17 February 15, 2025 / ENTREPRENEUR.COM / ↓ One of the highlights of LEGOLAND Dubai is Miniland, where you can see miniature versions of iconic landmarks from Dubai, the UAE, and the wider Middle East, all made from millions of LEGO bricks. cornerstone of what we do. The UAE is a unique and vibrant place, and we aim to reflect that by celebrating different traditions while also helping families learn about and connect with one another. From our Chinese New Year celebrations to National Day festivities, we try to create experiences that honour the rich diversity of our community in a fun and engaging way.” LEGOLAND Dubai Resort’s endeavors to honor the UAE’s diverse population holds extra gravitas this year with 2025 being declared “The Year of Community.” And once again it has become a feature that captivates both kids and adults alike. “One of the standout features of the park is MINILAND, located at the heart of LEGOLAND Dubai- an incredible space brings over 20 million LEGO bricks together to recreate iconic landmarks like the Burj Khalifa and Sheikh Zayed Grand Mosque,” shares Harrison- Jones. “It’s a place that fascinates not just kids but also adults, who are often amazed by the sheer craftsmanship and detail in every structure. Among the rides, the Dragon Coaster is a firm favourite. As many children’s first rollercoaster experience, it offers just the right amount of thrill to captivate kids and their parents, making it one of our most iconic attractions. With over 40 rides, shows, and attractions spread across six themed lands, our theme park is designed to immerse families with children aged two to 12 in a world of creativity and adventure. From building and exploring to embarking on exciting journeys, each attraction strikes a perfect balance between entertain- ment, education, and shared moments of joy.” Such an approach has reaped direct benefits in terms of revenue for LEGOLAND Dubai CULTURAL DIVERSITY IS ALSO A CORNERSTONE OF WHAT WE DO. THE UAE IS A UNIQUE AND VIBRANT PLACE, AND WE AIM TO REFLECT THAT BY CELEBRATING DIFFERENT TRADITIONS WHILE ALSO HELPING FAMILIES LEARN ABOUT AND CONNECT WITH ONE ANOTHER.” }}
18 / ENTREPRENEUR.COM / February 15, 2025 Resort- which, after all, is a business at the end of the day. “From a business perspective, attractions that combine interactive learning with entertainment tend to draw the most visitors and contribute significantly to revenue,” Harrison-Jones shares. “For instance, MINILAND and Driving School (in LEGO City, where children can learn road rules and earn their very own LEGOLAND Driving License) resonate because they engage families in hands-on, memorable activities, while rides like the Dragon Coaster offer shared moments of excitement. Factors like accessibility for all ages, the novelty of the experiences, and the emotional connections they create are key drivers behind their popularity. We also focus on making LEGO- LAND Dubai a year-round destination. Our annual passes are a great example- they offer unlimited access to the park, exclusive discounts, and special perks, encourag- ing families to visit again and again.” But beyond the speedy roller coasters and thrilling water games, there is also the unwinding, “playcation” aspect LEGOLAND Dubai Resort offers courtesy its hotel services. “LEGOLAND Hotel offers thoughtful touches that balance both parents' and kids’ needs,” Harrison-Jones says. “Home to 250 intelligently designed rooms and suites featuring 5 popular LEGO themes, each of our rooms have a separate space for parents to relax while children dive into their bunk bed areas. Located just 130 baby steps from the parks, the comfort of the hotel is a short walk after a fun-filled adventure. It’s these little details that ensure the entire family feels equally considered and cared for. What truly bridges the gap between adults and kids at LEGOLAND Dubai Resort is the shared joy of the experience. It’s not just about parents watching their kids have fun, it’s about partici- pating together, laughing together, and creating memories that are meaning- ful for everyone. That’s what makes LEGOLAND Dubai Resort a place where every visitor, no matter their age, can feel the magic of play and connection.” Maintaining this commit- ment to creating long-lasting visitor experiences is, of → Each room at the LEGOLAND Dubai Hotel is uniquely themed, such as Pirate, Kingdom, Adventure, and Ninjago, providing an immersive LEGO experience for children and families. WHEN TEAM MEMBERS FEEL SUPPORTED AND WELL-PREPARED, IT NATURALLY REFLECTS IN THE EXCEPTIONAL SERVICE THEY PROVIDE. FOR ME, EXCELLENCE IN HOSPITALITY IS BUILT ON THREE KEY PILLARS: OBSERVATION, ATTENTIVENESS, AND CONSISTENCY.” B/Creativity
course, incumbent upon the employees that bridge Harrison- Jones’ vision and the resort’s services. Which is why employee upskilling has been a major facet of the General Manager’s leadership strategy. “At LEGOLAND Dubai Resort, we strive to deliver experiences that are not only enjoyable but also meaningful, leaving a lasting impression on every family that visits- and this begins with empowering our employees to approach their roles with confidence, creativity, and care,” he notes. “When team members feel supported and well-pre- pared, it naturally reflects in the exceptional service they provide. For me, excellence in hospitality is built on three key pillars: Observation, attentiveness, and consistency. Observ- ing our product from the guest’s point of view allows us to truly understand and anticipate the needs of our customer. We consistently review guest feedback and seek to better our offerings. Attentiveness ensures that we’re proactive, noticing the little details that elevate a guest’s experience. And consistency is what builds trust, ensuring that every family visiting LEGOLAND Dubai Resort has a seamless and enjoyable time, whether it’s their first or fifth visit.” But how does one gauge factors like employee attentive- ness and customer joy? “In terms of metrics, we take a data-driven approach to monitor performance while staying people-focused,” Harrison-Jones shares. “Guest feedback is one of our most valuable tools. We pay close attention to post-visit surveys, online reviews, and even on-the-spot comments to identify opportunities for improvement. Additionally, we measure team performance through KPIs like responsiveness to guest needs, problem resolution times, and adherence to our service standards. But it’s not just about numbers, it’s about how employees make guests feel. A genuine smile or a thoughtful gesture often means more to a family than anything else. For anyone working in hospitality, the first area to master is people skills. Technical knowledge and efficiency are important, but the ability to connect with guests on a human level is what sets exceptional service apart. It’s about showing warmth, being present in the moment, and truly caring about the guest experience.” Having already been made privy to Harrison-Jones’ human-centric strategies, it perhaps comes as no surprise that this factor has been deeply woven into his idea of innovation as well. “Innovation starts with people, and the work culture ↓ The hotel is directly connected to the LEGOLAND Dubai theme park, making it convenient for guests to access the park without any hassle. }}
20 / ENTREPRENEUR.COM / February 15, 2025 at LEGOLAND Dubai Resort plays a pivotal role in driving that forward,” he says. “Creating an environ- ment where team members feel valued, inspired, and empowered to share their ideas has been one of the key drivers of our success. When employees feel supported and engaged, they’re far more likely to think creatively and go above and beyond for our guests. The secret to innovating while staying true to what matters most, our guests, lies in balancing creativity with purpose. For us, it’s not about innovation for the sake of novelty but about identifying ways to enhance the experience for families. We constantly ask ourselves, 'How will this make a visit more memo- rable, more seamless, or more joyful for our guests?' By keeping this question at the forefront, we ensure our innovations align with the needs and expectations of the families we serve.” Using this model has inadvertently stemmed from Harisson-Jones’ personal values. When asked what he considers his greatest successes, he answers, “One milestone that stands out to me is every time I hear kids say “This was the best holiday” or watching children play with LEGO bricks for the first time. It’s that feeling of satisfaction when children are happy and in turn, parents are happy validating that we are delivering the right product for our guests.” It is with this mindset that the General Manager and his team now gear up for what promises to be an eventful 2025. “Looking ahead, we’re preparing for Ramadan and Eid celebrations, which will feature our latest attrac- tion, the LEGO Souq paying homage to the region’s rich heritage and culture as well as special activities and offerings designed to bring families together in a meaningful and joyful way. In April, we’ll entice guests with our very own take on the LEGO Group’s partnership with Formula 1® by introducing LEGO® CITY Grand Prix and in June, we’ll welcome families to Summer Splash Fest at LEGOLAND Water Park. Beyond these key dates, we’re working on new surprises to keep the LEGOLAND Dubai Resort’s experience fresh and exciting for our guests, so we encourage everyone to stay tuned for upcoming announcements! Ultimate- ly, our mission remains the same: to keep innovating and finding new ways to inspire creativity, connect families, and make every visit to LEGOLAND Dubai Resort truly memorable.” B/Creativity
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22 / ENTREPRENEUR.COM / February 15, 2025 22 / ENTREPRENEUR.COM / February 15, 2025 → Naser Taher is the founder and Chairman of the MultiBank Group.
23 February 15, 2025 / ENTREPRENEUR.COM / LEADING THECHARGE founder and Chairman, MultiBank Group, reveals how he built one of the world's largest and most regulated financial derivatives institutions. NASER TAHER by TAMARA PUPIC 23 February 15, 2025 / ENTREPRENEUR.COM /
"My vision was always to create an institution that empowers traders while contributing to the evolution of financial markets.” ↓ Naser Taher was named one of the Top 100 Leaders by Entrepreneur Middle East. 24 / ENTREPRENEUR.COM / February 15, 2025
25 February 15, 2025 / ENTREPRENEUR.COM / T rust is everything,” says Naser Taher, founder and Chairman, Multi- Bank Group, one of the world's largest and most regulated financial derivatives institutions. "People need to believe in the systems and institutions they engage with in this industry.” Taher has certainly gained people’s trust- since launching MultiBank Group in 2005 in California, his brainchild has grown to serve over a million clients across 100 countries, with daily trading volumes exceeding USD$25.6 billion. "One aspect I am particularly proud of is our leadership in regulatory oversight,” Taher says. "In a time when trust in financial organizations is more important than ever, we have built a group regulated by over 16 authorities across five continents. This commitment to compliance has cemented our reputation as a trusted, client-focused organization.” If there is one feature that connects the dots of Taher’s 36-years-long career, it would be - in his own words - “a passion for progress.” Early in his career, he leapt at every chance to achieve remarkable results. This includes leading a major infrastruc- ture project where he oversaw the construction of a six-lane highway from Jordan to Iraq, or managing a fleet of 23 ships which allowed him to build his expertise in logistics and large-scale operations. Taking different routes at times also served him well- in the 1990s, he founded the first private airline company in Eastern Europe, and in parallel, played a key role in Ireland’s largest banking syndicate. Over the years, Taher also worked with several prominent financial institutions, including BNP Paribas, Barclays, UBS, Merrill Lynch, and Credit Suisse. His genuine commitment to driving innovation in global markets led to a number of industry accolades - in 2010, Taher was appointed Senior Counsellor to the Chinese Government of Tianjin, and in 2016, he was honored to serve as Honorary Chief ↑With a team of 1,000 professionals across 25 global offices, who are supported by over 100 affiliates on five continents, the Group offers an array of brokerage services and asset management solutions. }} AT MULTIBANK GROUP, INNOVATION AND REGULATION GO HAND IN HAND. INSTEAD OF SEEING COMPLIANCE AS A CONSTRAINT, WE EMBRACE IT AS A FRAMEWORK THAT FOSTERS GROWTH AND DRIVES PROGRESS."
26 / ENTREPRENEUR.COM / February 15, 2025 Financial Advisor to the Chinese Central Financial Government. In Hong Kong, he received the prestigious Le Fonti Award for CEO of the Year in the Hong Kong Financial Services sector in 2019. In the UAE, he was again recognized by Le Fonti as the Chairman of the Year awardee, and also named one of the Top 100 Leaders by Entrepreneur Middle East. Armed with knowledge and experience, Taher envisioned creating a space where traders of all levels could access fair, transparent, and secure financial markets, and MultiBank Group was born in California in 2005. "My vision was always to create an institution that empowers traders while contributing to the evolution of financial markets,” Taher explains. "The goal was simple but ambitious- building a platform that focuses on integrity and innovation, offering solutions that genuinely address clients' needs. Finding the balance between maintaining trust and driving progress has been key to our success.” T oday, MultiBank Group is renowned for its innova- tive trading solutions, robust regulatory compliance, and exceptional customer service. With a dedicated team of 1,000 professionals across 25 global offices, who are supported by over 100 affiliates on five continents, the Group offers an array of brokerage services and asset management solutions. "At MultiBank Group, innovation and regulation go hand in hand. Instead of seeing compli- ance as a constraint, we embrace it as a framework that fosters growth and drives progress,” Taher explains. "These guidelines continually inspire us to refine our products, systems, and internal processes.” Proof of the success of Taher’s strategy is in the numbers- in 2023, the Group achieved notable financial growth, with revenue increasing by 10% from $279.5 million in 2022 to $306.6 million. Daily trading volumes hit $25.6 billion in 2024 which is a significant increase from the volumes in 2023. O ver the past two decades, Taher has witnessed the derivatives landscape transforming significantly. "When we first entered the industry, the focus was on traditional assets such as stocks, bonds, and commodi- ties, with limited access for retail traders,” he explains. "However, rapid progress introduced high-frequency trading, algorithmic strategies, and AI-powered systems, changing how transactions are executed. We embraced these innovations early, launching fully automated platforms to enhance client experiences.” As we start talking about the cutting-edge solutions tailored to traders and investors worldwide that the Group has released to date, Taher first mentions Forex Exchange Communication Network, which commenced operations in 2016 under the name MultiBank Exchange. "This step was undertaken by our board in support of the FX Global Code of Conduct which was decided by a panel of 21 central banks worldwide,” Taher explains. More recently, the Group launched MEX Exchange which is the world's first interbank trading exchange. As such, it revolutionizes the financial landscape by integrating an advanced matching engine, a cutting-edge prime brokerage settlement system, and the latest blockchain technology to meet banks' and institutions' requirements for transpar- ency, reliability, and trust. "With its unique market position, technological advancements, and strategic location, MEX Exchange is a project of strategic impor- tance, with the potential for significant global impact,” Taher explains. "It is poised not only to reshape institu- tional trading worldwide but also to cement its host city’s position as a major international financial hub." F urthermore, the Group also launched the UAE Contracts for Difference (CFD) shares on its innovative MultiBank Plus App and MT5 platform, which enables traders to trade Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) shares and a wider range of products by using just one account on a single platform. Taher adds that one of the most notable industry shifts has been the rise of digital assets, particularly cryptocurrencies, which has brought new opportunities to the sector. "The surge in demand for crypto-based derivatives has attracted a younger, tech-savvy demographic, prompting us to introduce solutions like MultiBank.io Crypto Exchange App, designed to cater to their needs,” Taher says. “So, the “The surge in demand for crypto-based derivatives has attracted a younger, tech-savvy demographic, prompting us to introduce solutions like MultiBank.io Crypto Exchange App, designed to cater to their needs.”
27 February 15, 2025 / ENTREPRENEUR.COM / industry itself has seen significant product innovation, from tradi- tional instruments, like futures and options, to more complex offerings, such as tokenized assets and decentralized finance (DeFi) products. At MultiBank Group, we have embraced blockchain technol- ogy, allowing traders to access real-world asset pairs and trade them through digital platforms.” Going forward, Taher believes that digital assets and blockchain technology will continue to drive growth, driving a surge in crypto- asset derivatives, tokenized instruments, and DeFi adoption. "I am confident that these innovations will become integral to most portfolios over the next decade, enabling new levels of efficiency and innovation,” he says. "As this shift unfolds, compliance and regulatory frameworks will increasingly focus on client protection, transparency, and risk management, particularly in retail trading,” To that end, MultiBank Group launched MultiBank-AI, a division dedicated to integrating AI into their internal processes and client services to boost efficiency and enhance the customer experi- ence. "Blockchain adds security and transparency, and we’re pioneering ways for clients to trade cryptocur- rencies versus traditional assets combined with a state-of-the-art social copy trading platform, creating new opportunities in finance,” Taher explains. I n addition to expanding their product portfolio, MultiBank Group has adopted a global expansion plan by establishing a strong presence in key hubs across Asia, Europe, the Middle East, and the Americas. With all this, Taher plans to keep MultiBank Group at the forefront of the financial services sector; however, in doing so, he remains unapologetic about upholding the highest industry standards. "Our legal, risk, and compliance teams work closely with product development to ensure that every new product or feature meets the necessary requirements. We adapt swiftly and maintain a competitive edge by maintaining open communication with govern- ing bodies and staying updated on evolving policies. This proactive approach has allowed us to remain agile and consistently innovate in dynamic areas such as derivatives, digital assets, and advanced trading technologies.” A s we end our conversation, Taher reveals more details about the MultiBank Group Ecosystem, which is driven by three key pillars that support the Group's token (MBG) and a multi-asset approach to business operations. "With a vision for a seamless trading experience, we are excited to launch the MultiBank-backed utility token,” Taher says. "This token will streamline internal transactions, offer staking opportu- nities, and integrate DeFi solutions, further enhancing our financial ecosystem.” The three pillars of the MultiBank Group Ecosystem include the Group's traditional finance ecosystem that ensures stability and innovation within conventional financial markets. Secondly, there is MultiBank Exchange Institutional Electronic Communication Network (ECN), which is one of the Group’s most significant financial projects for 2025-2026, that is set to establish the first inter-bank trading platform in the GCC and emerging markets. And thirdly, MultiBank IO (Crypto Arm) is built on the latest technology to offer spot and derivatives trading and will be the first platform offering real world assets, including gold and silver traded against established crypto currencies, seamlessly bridging traditional markets with block- chain and cryptocurrency opportu- nities. }Maintain trust "Make trust and transparency a top priority. In finance, if customers don’t have confidence in your business, you won’t make it. Ensure all your dealings—with customers, regulators, or partners—are clear and open. This focus builds long-term loyalty and sets your business apart." }Stay agile "The sector evolves quickly, driven by tech, regulations, and market shifts. Being able to adapt is a must. Take on new ideas, keep up with the latest trends, and be ready to change your strategies when needed. For example, adopting blockchain and digital assets early on has allowed us to maintain a competitive edge." }Invest in a strong team "A company is only as strong as the people behind it. Work with staff who believe in your goals and give them the resources and freedom to do their best. Creating a team that works well together and trusts each other matters as much as having a good business plan." }Build a long-term vision "Focusing on quarterly results is tempting, but lasting success comes from creating a vision that spans ahead. Think about where your industry is heading and shape strategies accordingly. For example, we saw the promise of digital assets early on, so we invested in blockchain tech before many competitors did. A long-term vision gives your company purpose and direction, helping it navigate changes." }Use technology to empower, not replace "AI and automation make a strong impact but don't forget the human touch. Technology should enhance decision-making and improve user experience, not replace the intuition and fresh ideas that experts bring." Naser Taher, founder and Chairman, MultiBank Group, Advises Entrepreneurs TREP TALK
29 February 15, 2025 / ENTREPRENEUR.COM / M I D D L E E A S T
Wissam Younane, CEO of BNC Publishing, opening the event Wissam Younane, CEO of BNC Publishing, and AlDhabi AlMheiri, the Guinness World Records holder for becoming the youngest female magazine columnist Boris Johnson and Anil Bhoyrul, Editor in Chief of Entrepreneur Middle East. Wissam Younane, CEO of BNC Publishing, Rabih Najm, Managing Director of BNC Publishing, and Anil Bhoyrul, Editor in Chief of Entrepreneur Middle East, welcoming Boris Johnson at the event. AlDhabi AlMheiri, the 10-year-old Emirati entrepreneur and Guinness World Records holder for becoming the youngest female magazine columnist, interviewing Boris Johnson. 30 / ENTREPRENEUR.COM / February 15, 2025
Shamsa Al Jasmi, the first ever female Emirati Oud player, performing at the event. Boris Johnson giving an interview during a VIP reception. Yigit Sezgin, founder of Cle & Partners, addressing the audience. Boris Johnson and Wissam Younane, CEO of BNC Publishing. Rabih Najm, Managing Director of BNC Publishing. Boris Johnson delivering a keynote speech. February 15, 2025 / ENTREPRENEUR.COM / 31
D uring Johnson's spell for eight years as Mayor of London: Crime fell by 25%. Delivered 100,000 affordable homes. Created 31 new housing zones. 303,100 apprenticeships created. Number of people in work rose by 20%. And of course, delivered the incredible 2012 London Olympics. E ntrepreneur Middle East honors the region's most successful entrepreneurs. On February 13, 2025, at Sofitel Dubai the Palm, Entrepreneur Middle East held the "Legends of Entrepreneurship Awards" gala dinner to honor the region's most successful entrepreneurs. THE RECAP Legends of Entrepreneurship Awards "Outstanding Contribution" Award Boris Johnson, former UK Prime Minister 32 / ENTREPRENEUR.COM / February 15, 2025 All winners
33 February 15, 2025 / ENTREPRENEUR.COM / A l Dandashi first came to the UAE in 1994 with no job but a lot of dreams. Starting out as a broker in the currency markets, in 1997 he formed his own company, Al Ramz. By 1999 it was already of the largest brokerage firms in the UAE. Today it is one of the biggest financial institutions in the region, while his own interests have expanded to real estate and health. A t the age of 36, Suri is already holding the title of Africa's richest Indian, worth nearly USD$2 billion. It was only 13 years ago that he founded the Maser Group, which has not only transformed the consumer electronics market in Africa with his Smart TVs, but turned int a diversified group with holdings across also across the Middle East and Latin America. LEGENDS OF ENTREPRENEURSHIP AWARDEES Mohammed Mortada Al Dandashi Prateek Suri
A fter a long an distinguished career in law, working for the ruling families in the UAE and Saudi Arabia, she decided just four years ago to create her own social networking platform Lyvely. It has taken the world by storm, already valued in the billions and totally changing the way social media is monetized. A graduate of the University of Philadelphia, in 2010 Al-Ajmi created VI Markets in Kuwait. His mission was to educate fellow Kuwaitis in the world of online trading, and manage their portfolios. With over 220 products, it has developed one of the Arab world's most successful ever trading platforms. He is also one of the region's most prominent watch collectors. Farah Zafar Tala Al-Ajmi 34 / ENTREPRENEUR.COM / February 15, 2025
35 February 15, 2025 / ENTREPRENEUR.COM / B orn and raised in India to a family of jewellers, Vijay decided to make the move to Dubai and branch out on his own. What a great decision that was. He launched his own brand Tiara, and along the way created the AV Private Collection, a collection of the world's rarest diamonds and gemstones. Also a great philanthropist his Gems of Hope initiative is revolutionizing cancer care and research back in India. A l Owais is a man credited for creating the Uber for recycling – a world first app that connects people moving recyclable and waste material. As a result, it has totally transformed the way items are disposed in the UAE, making a hugely positive impact on the environment. Based out of Sharjah, his company Re.Life has trans- formed the logistics world. Ashish Vijay Sultan Salim Al Owais
36 / ENTREPRENEUR.COM / February 15, 2025 M oradi is a man who already had an impressive track record in the corporate world, working with giants such as Oracle. His skills gained in fintech led him to create Qashio, with a new generation software that has completely transformed the way company and employee expenses are managed, and tracked in real time. From an nitial seed finding of just USD$2.5 million, it has grown into an industry giant with multiple products and offices right across the Middle East. S till in his mid-twenties, five years ago, working out of his bedroom, Sakib created his company Vurse. Using early day AI technologies, the plan was to give users exactly the type of content they want. Since then, the growth of AI and the metaverse has resulted in Vurse becoming worth several billion dollars, and one of the world's fastest growth tech companies. Armin Moradi Shadman Sakib
37 February 15, 2025 / ENTREPRENEUR.COM / A l Samadi is one of the lead characters in the hit Netflix show Dubai Bling. We recog- nized him for his entrepreneur- ial journey, which began at the age of just 14 by selling clothes on ebay from his mother's apartment. His first deal was selling a pair of Levi jeans for USD$20, which he had bought for USD$10. Fast foreword to 2025 and his business empire spans multiple home-grown brands led by Forever Rose, and a market value of several hundred millions of dollars. Z ahran is an American born entrepreneur who moved to the UAE with a simple a dream - to become a global business mogul. His automotive venture OWS Automotives is active across 14 countries, his OWS Capital active in fitness and entertainment, and his partnership with Hollywood icon Steve Harvey has helped launch some of the biggest A list events ever seen in the UAE. Ebraheem Al Samadi Oweis Zahran
38 / ENTREPRENEUR.COM / February 15, 2025 K illa is one of the world's most famous and accomplished architects, with nearly 30 years in the industry. He first rose to prominence with his work on the Dubai Opera House. Ten years ago he established Killa Design, which has since gone of to design not just the leading projects in the region, but any- where in the world - Museum of the Future, the Address Beach Resort and the Office of the Future, the first ever occupied printed building in the world. Along the way, he has created one of the world's most valuable businesses. H asan is credited with launching the careers of superstars such as Kim Kardashian, Logan Paul and Zendaya. Along the way, he has become a star himself with his company FAME become the leading celebrity agency in the world, while his other ventures including the launch of Hollywood. AI and Bollywood.AI, have helped create an entertainment empire valued at several hundred millions dollars. Shaun Killa Sheeraz Hasan
39 February 15, 2025 / ENTREPRENEUR.COM / M ardinian is a beauty icon, a major television presenter and personality, and a hugely successful entrepreneur in her own right. Established in 2008 her company Maison de Joelle has used cutting edge technologies that has revolution- ized the world of beauty and wellness. With branches in seven countries, it has become a huge beauty empire valued at several hundred million dollars. Joelle Mardinian i n5 has become Dubai's leading start up hub for innovators and entrepreneurs. Since 2013, it has helped launch over 1,000 startups. From design labs to green rooms and recording studios, it has also helped companies raise over AED8 billion. in5 SPECIAL RECOGNITION
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41 February 15, 2025 / ENTREPRENEUR.COM / Stay Sharp A look at the mistakes that could ruin your North American expansion by ANDREI MINCOV I n today’s global economy, where count- less brands compete for attention, securing your place in the market has never been more critical. A brand that stands out is often the difference between thriving and being overlooked. A strong brand captures attention, builds trust, and fosters customer loyalty. It drives long-term business growth, positions your company as a market leader, and makes your business more resilient to economic downturns and competi- tive pressures.
42 / ENTREPRENEUR.COM / February 15, 2025 ‘T/Strategies But here’s the catch—a brand is only valuable if you actually own it. Businesses in the Middle East are increasingly expanding their reach beyond regional markets, with North America—particularly the United States and Canada—offering immense growth opportunities. These markets are among the most lucrative and competitive in the world. Companies like Emirates, DP World, and Anghami have become globally recognized names through strategic brand building and international expansion. With the US likely entering a period of economic resurgence under Donald Trump as the 47th president, international businesses are racing to seize the opportunity. However, many Middle East companies often overlook one critical detail—legally securing their brands in the United States and Canada. Without this protection, your North American ambitions could unravel overnight. The Costly Risks of Expanding Without Brand Protection Expanding into North America is an exciting prospect, but nothing derails growth faster than losing control of your brand if someone trademarks it there first. It doesn’t need to be an exact match—even a similar name can block your entry. Consider a hypothetical MENA startup, ‘Al Noor Coffee,’ thriving across the Gulf. Upon entering the US, they discover a small Texas cafe already holds the trademark ‘Noor’ covering coffee beverages, cafes, and restaurants. Despite regional success, Al Noor Coffee is locked out of the American market. Their choices? Abandon expan- sion or undergo costly rebranding—re- designing packaging, updating marketing materials, and re-educating their customer base—all while losing momentum in a critical new market. This scenario is not rare. According to the World Intellectual Property Organization (WIPO), global trademark filings have surged over 30% in the past decade, reflecting businesses' growing recognition of the need for brand protection. So while the “Al Noor Coffee” example above is hypothetical, the risks of attempting an expansion with an unprotected brand are very real. Here are the harsh realities of expanding with an unprotected brand: 1/ You won’t own your brand in North America There is no such thing as a global trademark, and trademarks are country-specific. You may be protected across the UAE, Saudi Arabia, Qatar and have zero rights in Europe or North America. If someone files for a similar trademark before you, your application will be rejected. 2/ You can get sued for trademark infringement The US is the most litigious country in the world. Trademark disputes can drag on for years and drain hundreds of thousands or even millions of dollars in legal fees and awards against the losing party. Getting caught up in trademark litigation is a surefire way to disrupt your operations, deplete resources, and bury your hopes of international expansion. 3/ You can be delisted from global e-commerce platforms Platforms like Amazon, Shopify, and Walmart Marketplace often require a registered US trademark to list products. Without one, your products can be removed, cutting off key sales channels. 4/ A branding nightmare across continents If you can’t own your brand in North America, you face a dilemma: run two brands across different markets or rebrand globally. Managing two identities doubles marketing costs and confuses customers, while global rebranding erases the goodwill you built in the Middle East. Either path can cripple growth.
43 That’s why if North America is even a blip on your future horizon, securing your trademark there is non-negotiable—now, not later. Here are three ways to ensure your brand is ready for North America: 1/ Find Out If Your Brand Is Trademarkable Before investing a dirham in marketing, confirm early that your brand is yours to own in the US and Canada—before it gains prominence regionally. The worst thing you can do is build your brand locally— only to realize that someone else already owns your brand in North America when you’re ready to expand. Your brand will never be more trademarkable there than it is today, so the more recognizable it becomes, the more likely someone might hijack it, hoping for a big payout. Do not rely on online trademark search tools. While free and convenient, they’re dangerously incomplete. They overlook similar marks and fail to check if your brand is distinctive or violates legal requirements. Searching “Al Noor Coffee” wouldn’t catch “Noor,” giving you a false sense of security. A comprehensive trademark search with a professional registrability opinion from North American trademark experts is a small investment that can save you from costly rebranding or litigation. 2/ Register Your Trademark Early Speed matters. North America’s fast-moving markets are unforgiving to latecomers. Don’t risk getting locked out. If your brand name is available, file trademark applications in the US and Canada without delay. The cost of filing is negligible compared to the costs of losing your brand. Trademark registration doesn’t just protect you—it turns your brand into a legally recognized, valuable asset, and builds a foundation to scale confidently. Consider Olipop, a US soft drink company. They filed their first trademark in July 2017, a year before their October 2018 launch. Today, the brand is valued at $1.85B. Early protection set the stage for their success. 3/ Monitor and Enforce Your Rights Trademark registration isn’t a set-it-and-forget-it task. You need to actively watch for infringements and be ready to defend your brand when necessary. Consider setting up trademark monitoring and working with legal experts who can enforce your rights quickly and efficiently. Building a Brand That Lasts—It’s All About the Future Trademarking is not about protecting your brand for today—it’s about future-proofing your business. A protected brand can increase your company’s valuation and attract investors, positioning you as a more credible entity in the eyes of partners and buyers. If you plan to sell products or services under your brand in the United States or Canada within the next two to three years, trademark it now. Delaying means you’re gambling with your future growth. The North American market holds enormous potential for ambitious Middle East businesses—but only if you own your brand. Trademark it. Protect it. Own it—so you can scale across borders with confidence. Your brand’s future is in your hands. Andrei Mincov is the founder and CEO of Trademark Factory®, which offers trademark registration services with a guaranteed result for a guaranteed budget. He began his career as an intellectual property lawyer nearly 30 years ago, helping his father, a renowned Russian composer, defend his copyrights against unauthorized use in a commercial. Now based in Dubai, Andrei helps businesses and entrepreneurs from around the world secure and protect their brands in North America. www.trademarkfactory.com/ ACCORDING TO THE WORLD INTELLECTUAL PROPERTY ORGANIZATION (WIPO), GLOBAL TRADEMARK FILINGS HAVE SURGED OVER 30% IN THE PAST DECADE, REFLECTING BUSINESSES' GROWING RECOGNITION OF THE NEED FOR BRAND PROTECTION.” February 15, 2025 / ENTREPRENEUR.COM /
44 / ENTREPRENEUR.COM / February 15, 2025 conditions, especially when markets are stagnant or volatile. For less experienced investors, this leads to frustration and often results in panic as they wait for a small, rare, and fleeting window of upward momentum. With a full-time job, family, or other commitments, constantly monitoring markets and trying to determine the most ideal decision can be overwhelming – but it doesn’t have to be. Enter Fund Managers; Experts Equipped for All Market Conditions Professional fund managers are equipped with the research, tools, and strategies to adequately manage that other 85% of the time when markets are moving sideways or experiencing volatility. From sophisticated risk management software to algorithmic trading models that identify opportunities in undervalued assets, their approach isn’t just about finding an upward trend - it’s about generating value in all kinds of market conditions. Warren Buffett’s long-term value investing approach of looking for companies with strong fundamentals, even if they’re currently undervalued or operating in flat markets, is a prime example. In 1988, his company, Berkshire Hathaway, invested in Coca-Cola when it only had a market cap of US$16 billion, the company wasn’t trending, and other investors were overlooking its potential. His foresight to have Berkshire Hathaway purchase these shares at the time is undeniably reaping rewards almost four decades later; in August 2024, the powerhouse beverage company reached a value of nearly $300 billion. Similarly, during a difficult period in the 1960s (now dubbed the “Salad Oil Scandal”), Buffett invested in American Express when most investors avoided it and reaped significant rewards later. These examples reinforce that skilled fund managers don’t just react to market trends but rather ‘T/T rends Here’s why fund managers outperform ‘do-it-yourself' investors by BAS KOOIJMAN Outsourcing in a Market That Rarely Trends M arkets trend only about 15 percent of the time; the rest of the time they move sideways.” This quote from legendary investor Paul Tudor Jones exemplifies the challenge that most investors face – finding that elusive upward trend in a market that often offers no consistency. For the ‘do-it-yourself (DIY) investor’, managing personal investments offers a sense of control, as you decide what to buy, when to sell, and where to allocate resources. However, control doesn’t always translate to success, especially while pursuing that 15% of market action. It can be burdensome when it feels like your investments are standing still at all other times. The truth is most DIY investors lack the time and tools to deeply analyse market
45 February 15, 2025 / ENTREPRENEUR.COM / anticipate them through deep research and analysis. They can spot opportunities in sectors or geographies that most DIY investors might overlook while also understanding when it’s time to shift focus. Whether it’s reallocating assets to a sector that’s showing early signs of growth or moving away from stagnating investments, experienced fund managers make these moves effectively. Strategies Beyond Trends Fund managers excel at generating returns even in stagnant markets, while DIY investors often wait for upward trends. By deploying strategies like diversification, tactical allocation, and hedging, fund managers can turn periods of market stagnation into opportunities for consistent growth. This is how George Soros made his claim to fame. One of his most famous trades, “Breaking the Bank of England” occurred when most investors were missing signs of significant returns. He strategically shorted the British pound, anticipating its collapse and netting over $1 billion. Ultimately, fund managers are equipped with the discipline to make timely exits from a position that’s losing momentum. This contrasts with DIY investors who may hold onto stocks too long, waiting for a rebound that may never come. Logic Over Emotion There’s also the emotional aspect of investing to consider. When you’re managing your own portfolio, the ups and downs of the market can lead to impulsive decisions. You might sell too early in fear of a dip or hold on too long, hoping for a reversal. We’ve already touched on Buffett earlier, but since he’s one of the most renowned investors of all time, consider his advice: “Be fearful when others are greedy, and greedy when others are fearful.” During market downturns, while many investors sell out of fear, Buffett’s long-standing ability to be logical versus falling susceptible to emotion is what has led to his renowned stature. In the 2008 financial crisis, many DIY investors panicked but he once again invested strategically (this time in companies like Goldman Sachs and General Electric) and profited when the market rebounded. Like Buffett, competent and trusted fund managers are trained to take emotions out of the equation, relying instead on data and strategy. Their experience helps them avoid the common pitfalls that many individual investors fall into. Outsource for Excellence At the end of the day, markets rarely provide the consistent, clear upward movement that DIY investors dream of. Most of the time, building up a portfolio requires more than just spotting a rising stock – it’s about managing through periods of sideways movement, volatility, and uncertainty. Outsourcing to a professional fund manager doesn’t mean relinquishing control – it’s about leveraging their expertise, insights, and disciplined strategy. With the ability to generate value in all types of market conditions, fund managers can help navigate challenges like sideways markets, where DIY investors often struggle to see growth. So, while you may feel empowered managing your own portfolio, it’s worth considering Paul Tudor Jones’ words to ask yourself: are you truly maximizing your potential returns, or is it time to put your investments in the hands of someone who can? Bas Kooijman is the CEO and Asset Manager of DHF Capital S.A, a securitisation firm for financial services which he co-founded in 2020. Entrepreneurial from a young age, Kooijman has worked in the technology industry, building a telecom company, and later Brokerteam, a wholesale telecom company. In 2015, he sold the latter and transitioned into finance. Over the past seven years, Kooijman’s expertise as a professional trader has built wealth for countless individuals and companies. In his pursuit of making wealth creation more accessible and affordable for all, he has also become a published author of “Trading and Investing” to accelerate this vision. www. dhf-capital.com/ THE TRUTH IS MOST DIY INVESTORS LACK THE TIME AND TOOLS TO DEEPLY ANALYSE MARKET CONDITIONS, ESPECIALLY WHEN MARKETS ARE STAGNANT OR VOLATILE.”
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47 February 15, 2025 / ENTREPRENEUR.COM / B/Gear IMAGES COURTESY COS| MCQUEEN| MESSIKA| AND ONE OF A KIN LIMITED EDITION RAMADAN 2025 COLLECTION → By COS To mark the month of Ramadan, London-based fashion brand COS introduces a limited-edition seasonal capsule with Middle Eastern exclusives. The latest Ramadan collection, crafted for time spent with loved ones, elevates the everyday through relaxed styles, while elegant occasion wear looks set the tone for the forthcoming Eid Al-Fitr celebrations. The collection will be introduced in two parts, with the first part launching on February 5, 2025, and the remainder in March 2025. cos.com From better goods to better wardrobe bests, every issue, we choose a few items that make the approved executive selection list. In this edition, our picks are from COS, McQueen, Messika, and One of a Kin. The Executive Selection
48 / ENTREPRENEUR.COM / February 15, 2025 B/Gear ARTISTRY IN ACTION → McQueen’s Ramadan collection McQueen introduces an exclusive collection to celebrate Ramadan: a six-piece ready-to-wear capsule entwining signature McQueen motifs with a modest silhouette. Artistry and nature manifest in a collection of blush floral printed daywear: fluid and refined crepe de chine separates including wide-leg pyjama trousers, an oversized shirt, a draped skirt and a midi shirt dress with bib detailing. The collection is available from February 3,2025, in Harrods London, Dubai, Kuwait, Doha and McQueen boutiques in Harvey Nichols and Bloomingdale's in Dubai. www.alexandermcqueen.com/ en-ae For Valentine’s Day 2025, the Maison Mesikka unveiled a selection of its iconic collections: Move Uno, My Twin, Move Classique, Gatsby, and Move Titanium. Pieces designed for both her and him, symbols of a strong and timeless bond. www.messika.com/en VALENTINE’S DAY 2025 ←/ By Messika
49 February 15, 2025 / ENTREPRENEUR.COM / ONE OF A KIN ↓ By Dubai-Based Entrepreneur Nayla Haddad One of a Kin, a Dubai-based sleepwear brand founded by Nayla Haddad, is redefining sleepwear with exceptional comfort and sustainable innovation. Dubai TV recently aired an episode of Shark Tank Dubai , where Haddad presented a compelling pitch about her mission to transform sleep experiences for all family members. She successfully secured an investment that aligns with her vision valuing the young company at AE 20 million. Nayla's journey into the world of premium sleepwear began during a family trip to Europe, where she discovered remarkably soft, breathable fabrics. Inspired by this encounter, Nayla decided to bring the same level of comfort to sleepwear for families worldwide. Today, One of a Kin offers luxurious, eco-friendly sleepwear that is twice as soft as cotton, catering to women, men, children, and babies. With a range of products for all the family, the collection spans a soothing color pallete perfect to mix and match. The brand has unique commitment to sustainability with its signature Tencel™ modal x microfabric—a biodegradable material derived from beech trees that offers unmatched softness and thermal regulating properties. Nayla's "softness lab" allowed the sharks to compare her premium fabric to other common materials like cotton, silk, and linen, highlighting One of a Kin's superior & unmatched soft quality. As the brand’s profile continues to rise, One of a Kin remains dedicated to sustainability, with efforts like repurposing production leftovers into baby comforters and donating profits to Dubai Cares charity. One of a Kin fiber is Carbon Zero, that aligns with the UAE's 2050 net-zero vision, positioning One of a Kin as both a leader in luxurious sleepwear and a champion of environmental responsibility. www.oneofakin.com EDITOR’S PICK
51 February 15, 2025 / ENTREPRENEUR.COM / New Paths, Same Destination Egypt-headquartered MNT-Halan is already a unicorn and one of the biggest fintech platforms in the MENA region. But having achieved yet another geographical expansion -this time into the UAE- co-founder Mounir Nakhla says his startup has only just scratched the surface of its potential. by AALIA MEHREEN AHMED. → Ahmed Mohsen and Mounir Nakhla, co- founders of MNT-Halan, an Egypt-headquartered financial super app that serves underbanked and unbanked populations.
52 / ENTREPRENEUR.COM / February 15, 2025 S/Innovation I n the plethora of entrepreneurial success stories that have come out of the MENA in the past decade, few have demonstrated the power of pivoting efficiently the way Egypt-based fintech platform MNT-Halan has. You see, when the startup was launched in 2018 -then named just ‘Halan’- it was a ride-hailing platform. But a few keen market observations and one merger (with Netherlands-headquartered financial holding company MNT Investments B.V.) later, it was re-introduced to the market as MNT-Halan- a financial super app that achieved unicorn status in 2023, and is currently the seventh-largest financial institution in Egypt. “In 2017, I visited Indonesia and met the founder of Gojek [a super app that offers a number of services including ride-hailing, food delivery, digital payments, and financial services], which was an eye-opening moment,” recalls Mounir Nakhla, co-founder and CEO of MNT-Halan. “It showed me how technology could scale operations and create financial opportunities for millions. Inspired by this, I partnered with Ahmed Mohsen, and in 2018, we launched Halan— initially as a ride-hailing platform for two- and three-wheelers, serving those excluded from traditional transport networks. As we grew, it became clear that mobility wasn’t the biggest gap—financial access was. Many of our drivers and customers struggled to get credit, make digital payments, or access financial services altogether. That realization led us to pivot and evolve into what MNT-Halan is today: a full-scale financial super app, revolutionizing access to finance through technology.” }Indeed, MNT-Halan is today a financial super app that provides seamless access to lending, payments, e-commerce, and financial services—all in one ecosystem. Operational across Egypt, Pakistan, Turkey, and, now, the UAE, the startup essentially aims to serve the unbanked and underbanked populations. }The platform offers a three-pronged suite of services across lending, digital payments, and e-commerce. Within its business and consumer lending vertical, a key highlight is its microfinancing options wherein loans of up to 200,000 EGP (approximately US$3,950) can be applied for and received in three working days. Its endeavors in this space have earned it a 25+% share of Egypt's microfinance market. MNT-Halan’s other lending options include buy-now-pay-later (BNPL), payroll lending and small
53 February 15, 2025 / ENTREPRENEUR.COM / and medium enterprise (SME) lending, among others. Within digital payments, it offers services such as disbursement and collection via the Halan cash wallet and peer-to-peer transfers, whereas its e-commerce platform caters to home appliances and fast moving consumer goods (FMCGs) serving both merchants and consumers. }“Businesses can access credit to grow, while individuals can borrow, pay, and invest with ease,” explains Nakhla. “Built on our proprietary core banking technology, MNT-Halan scales financial inclusion at speed, unlocking economic potential across emerging markets. We operate across multiple markets offering tailored financial solutions. In August 2024, we acquired Tam Finans in Turkey, a leading factoring company disbursing over US$150 million monthly to more than 50,000 businesses. In Pakistan, we’re focused on microfinance for small business owners, salaried individuals, and women entrepreneurs. To date, we’ve disbursed over $11 billion, with an outstanding loan book of $1.2 billion, which we’re targeting to grow by 50% annually in US Dollars over the next three years. We serve more than 2.3 million people quarterly, with 1.1 million active borrowers. While we’ve achieved unicorn status and scaled rapidly, our mission remains the same: to improve livelihoods, empower individuals, and create real economic impact through innovation.” }The magnitude of the results MNT-Halan has achieved is not lost on Nakhla. “The scale of what we’ve What works today may be obsolete tomorrow. The winners aren’t reacting; they’re setting the trend. Leverage new tools, disrupt the status quo, and build something that transcends time and space.” “ }}
54 / ENTREPRENEUR.COM / February 15, 2025 S/Innovation built is significant- but we're just getting started!” he adds. }Indeed, with the impressive wealth of experience -and, well, success- Nakhla and his co-founder Mohsen have amassed over the years, the duo decided to launch in the UAE in December 2024 as Halan UAE. Its key offering in this new market is Halan Advance, a salary financing solution that provides employees with early access to their salaries. “We’ve already issued over 100,000 earned wage access loans, and thus addressed a critical gap, in just under six months since moving into the market, with plans to expand our offerings further!” reveals Nakhla. “You see, across Egypt, Turkey, Pakistan, and the UAE, financial challenges for the unbanked have been shaped by high inflation, economic volatility, cash dependency, and limited access to credit. But in the UAE in particular, a large underbanked expat workforce faces barriers to accessing traditional financial services. Of course, there is no doubt that the UAE has a well-developed fintech sector. But a large segment of blue- and pink-collars remains underbanked, struggling to access affordable, flexible credit solutions.” }Now, Nakhla’s observations about the UAE come as a response to being asked how the fintech startup assesses a given market’s needs and shortcomings. To explain how MNT-Halan addresses each of the four markets it operates in, Nakhla offers a brief overview of the unique challenges faced by them. “In, Turkey, while most people are banked, businesses struggle with long lead times and extremely high interest rates for credit- here, we leveraged our proprietary technology and advanced risk assessment models to make financing more efficient and accessible,” he explains. “On the other hand, in Egypt, the challenge is that most people are unbanked. We addressed this with a digital-first model, using mobile-based lending, microfinance, and digital wallets to bridge the financial access gap at scale. Whereas in Pakistan, with one of the lowest household debt-to-GDP ratios globally, many lack access to structured credit. We entered that market post-COVID-19 and post-floods, when financial providers were struggling, confident that our core banking technology and market expertise could unlock this opportunity.” }It is with this approach that Nakhla and his team have moved into the UAE as well. “At Mounir Nakhla, Founder and CEO of MNT-Halan, shares tips on how to pivot and innovate successfully }Don’t chase short-term wins— build a real business. “Growth is important, but if you’re only focused on valuation milestones, you’re thinking too small. Solve a fundamental problem profitably, and scale will follow.” }Think global, but act hyper- local, and execute with hyper personalization. “Fintech can scale across borders, but consumer behavior, regulations, and financial habits are deeply local. A great tech stack means nothing if it’s not solving a real, market-specific problem.” }Your team is your greatest leverage. “A strong business needs people who think, challenge, and solve—not just execute. The right team will push boundaries, adapt fast, and turn strategy into results.” }Don’t adapt—create. “Having attended the World Economic Forum in Davos, one thing is clear to me: the world is changing at breakneck speed. Artificial intelligence (AI), quantum computing, digital contracts, and crypto are reshaping industries. What works today may be obsolete tomorrow. The winners aren’t reacting; they’re setting the trend. Leverage new tools, disrupt the status quo, and build something that transcends time and space.” TREP TALK UNICORN STATUS WAS NEVER THE GOAL—IT WAS SIMPLY A BYPRODUCT OF BEING LASER-FOCUSED ON SUSTAINABLE GROWTH. BUT NOW THAT WE’VE MADE IT HERE, IT ONLY FEELS RIGHT TO GO AFTER A DECACORN. AFTER ALL, 10 IS A MUCH NICER NUMBER THAN ONE.”
MNT-Halan, adaptability is about focus—we don’t launch every service in every market,” he adds. “Instead, we align our solutions with market demand, ensuring strong unit economics, operational efficiency, and sustainable growth. By combining scalable technology with local expertise, we elevate businesses and individuals while building a resilient and profitable model. Since launching in the UAE, Halan UAE has rapidly expanded through strategic partnerships with leading employers, payroll solutions, and exchange houses. We have already acquired over 100,000 customers and are on track to reach 250,000 customers and disburse more than AED350 million in loans by the end of 2025. As we expand, we’ll continue to leverage our tech-driven infrastructure to introduce more customized credit and financial services that fit the real needs of this workforce segment. By bringing scalable, AI-driven credit solutions to an underserved yet essential workforce, MNT-Halan enhances financial inclusion, boosts economic participation, and strengthens overall economic resilience in the UAE. As such, our goal is clear: to redefine financial access for millions in the UAE, delivering innovative, technology-driv- en solutions that empower individuals and businesses alike.” }To achieve this end-target, Halan UAE has set three objectives in place: scaling salary financing and micro-loans for the underbanked; expanding innovative financial products; and achieving scale through partnerships. “In the first objective, with millions of blue- and pink-collar expats in the UAE lacking access to affordable credit, our salary financing solutions and robust credit engine for microloans provide instant liquidity with flexible repayment options, addressing a critical financial gap,” reiterates Nakhla. “To achieve our second objective, we are soon launching a relatively novel service- Send Now, Pay Later, a remittance service that allows users to send money home instantly and repay in installments, easing financial strain. Additional services from our financial ecosystem will follow, ensuring greater access to credit, payments, and financial tools for underserved populations. Finally, we aim to fulfil our third objective by integrating with leading payroll providers and exchange houses, through which we can reach over 20% of the UAE’s population.This strategic distribution model enables us to scale rapidly while maintaining strong unit economics.” }As the Halan UAE team sets its sights on carving a competitive niche for itself within the country’s fintech market, Nakhla notes that while the end-goal will always be to aid the financially underserved people, the startup will also not shy away from setting bigger business milestones for itself. “Our most important milestone was developing the ability to provide credit at low risk—a result of building our digital infrastructure, our core banking software (Neuron), credit model, and Halan, our consumer-facing super app,” he declares. “Expanding beyond Egypt into Turkey, Pakistan, and the UAE marked another key milestone, proving the scalability of our technology and business model across diverse markets. Look, unicorn status was never the goal—it was simply a byproduct of being laser-focused on sustainable growth. But now that we’ve made it here, it only feels right to go after a decacorn. After all, 10 is a much nicer number than one.” → MNT-Halan’s first offering in the UAE is Halan Advance, a fast, secure, and user- friendly salary financing solution designed to provide employees with quick access to salary advances through a fully digital platform. 55 February 15, 2025 / ENTREPRENEUR.COM /
56 / ENTREPRENEUR.COM / February 15, 2025 Made with Louvre Abu Dhabi: Calling UAE SMEs to Create Unique Products/ UAE-based licensed SMEs invited to develop and submit a unique collection that draws inspiration from Louvre Abu Dhabi's iconic architecture until March 10, 2025. Louvre Abu Dhabi has launched an initiative aimed at forging innovative brand UAE'S RAK DAO Launches USD$2 Million Builder's Oasis Accelerator Program / In the Loop/ collaborations with UAE-based SMEs. The program is designed to celebrate the unique cultural and architectural heritage of the museum while fostering creativity and sustainable growth within the UAE. Application process and timeline includes February 2025: Accepting proposals, March 2025: Committee reviews and approval process, April 2025: Physical product development begins. Proposals can be submitted to development@ louvreabudhabi.ae. Themed around the museum's iconic architecture, the first edition of this initiative invites UAE-based businesses to draw inspiration from Louvre Abu Dhabi's breathtaking design and rich cultural tapestry. This collaboration will result in the creation of a range of innovative, high- quality products that embody the spirit of the museum and resonate with both local and international audiences. The collaboration with the museum provides local SMEs with a unique opportunity to showcase their expertise by developing exclusive, branded products. These items will be available at both the SMEs' stores and the museum's Boutique. Applications for Builder's Oasis will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah. RAK Digital Assets Oasis (RAK DAO),a free zone for digital assets companies located in the emirate of Ras Al Khaimah, has launched its inaugural accelerator program - Builder's Oasis. With a funding pool of USD$2 million, this program is designed to support Web3 startups in the gaming, AI, and blockchain infrastructure sectors. The program aims to attract over 150 global applicants, with high- potential startups to be shortlisted. Select participants are eligible for USD$100,000 in funding from the blockchain platform XDC, alongside guidance from RAK DAO's network of ecosystem partners. Applications for Builder's Oasis will be open until the end of February 2025, after which shortlisted teams will be invited to participate in exclusive demo days in Dubai and Ras Al Khaimah. These demo days will culminate in a final showcase during the weeks leading up to the upcoming TOKEN2049 in April 2025. Luc Froehlich, Chief Commercial Officer of RAK DAO, stated, "Having worked closely with startups across the globe, I've witnessed how resources and mentorship can transform raw ideas into industry- shaping solutions. By providing funding, fast-track licensing, and a supportive community, we're paving the way for blockchain, AI, and gaming ventures to flourish in Ras Al Khaimah and beyond. Our vision is to create a global nexus of forward-thinking founders who aren't just building projects, but defining the future of decentralized technology".
57 February 15, 2025 / ENTREPRENEUR.COM / To encourage a wider range of organizations and high schools to participate, the Prize will accept submissions in multiple languages, including Arabic, Chinese, English, French, Russian, Spanish, and Portuguese. Zayed Sustainability Prize, a portfolio entity of UAE-based philanthropic initiative Erth Zayed Philanthropies, has officially announced its call for submissions for 2026. A reward of USD$1 million will be up for grabs for the the winners of each organizational category, while those in the Global High Schools category -split into six world regions- can claim up to $150,000 to deploy or further expand their project. This year, the Prize invites SMEs, NPOs, and high schools to submit their projects in six distinct categories: Health, Food, Energy, Water, Climate Action, and Global High Schools For the 2026 cycle, applicants in the Health, Food, Energy, Water and Climate Action categories must prove that their solution is improving access to essential services in their communities, and that they can implement a long- term vision for better living and working conditions. For the Global High Schools category, projects should be led by students and must demonstrate innovative approaches to address sustainability challenges. To encourage a wider range of organizations and high schools to participate, the Prize will accept submissions in multiple languages, including Arabic, Chinese, English, French, Russian, Spanish, and Portuguese. The evaluation of each submission will consist of a rigorous, three-stage process. First, due diligence will be conducted on all submissions to ensure that they meet the Prize's evaluation criteria of Impact, Innovation, and Inspiration. This will identify the qualified entries and results in the selection of eligible candidates. Following this, evaluations will be undertaken by a Selection Committee consisting of category- specific panels of independent international experts. From this shortlist of candidates, the finalists will be chosen and then sent to the Prize Jury who will unanimously elect the winners across all six categories. The winners of the Zayed Sustainability Prize will be announced at an Awards Ceremony in 2026. The most recent Zayed Sustainability Prize winners were recognised at an Awards Ceremony in Abu Dhabi in the presence of H.H. Sheikh Mohamed bin Zayed, President of the United Arab Emirates, alongside 11 Heads of State and several Ministers and business leaders. These distinguished guests witnessed the promise and impact of each winner, as well as the UAE's firm commitment to providing a platform for such solutions to grow. Established in 2008, the Zayed Sustainability Prize is the UAE's pioneering global award for recognizing excellence in sustainability, which honors the the humanitarian and sustainability legacy of the UAE's Founding Father, H.H. Sheikh Zayed bin Sultan Al Nahyan. The award recognizes and rewards small to medium sized enterprises (SMEs), nonprofit organizations (NPOs), and global high schools with impactful, innovative, and inspiring sustainable solutions. Since its inception, the Prize has awarded hundreds of winners who have positively impacted 400 million lives worldwide by advancing innovative solutions to pressing global challenges. In 2024, the Zayed Sustainability Prize received 5,980 submissions from 156 countries, reflecting a growing international commitment to sustainable development. As the 2026 submission cycle begins, the Prize aims to build on this momentum. Applications Now Open For Zayed Sustainability Prize's 2026 Cycle /
58 / ENTREPRENEUR.COM / February 15, 2025 In the Loop/ Entrepreneur Middle East Publishes A Special Report Looking Into The Fintech Sector in Saudi Arabia / The fintech sector is not only as a growth driver but also as a transformative force in Saudi Arabia's financial services landscape. "Fintech Frontiers in Saudi Arabia: Driving Economic Growth and Vision 2030" is the latest special report by Entrepreneur Middle East that takes a deep-dive look into the financial technology development that creates new pathways for financial inclusion and economic advancement in Saudi Arabia. Saudi Arabia's ambitious Vision 2030 seeks to diversify the nation's economy and reduce its dependence on oil. A key pillar of this vision is the development of a dynamic and innovative financial sector, with fintech playing a crucial role. As Saudi Arabia positions itself as a digital hub in the Middle East, the fintech sector emerges not only as a growth driver but also as a transformative force in the kingdom's financial services landscape.
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