DIFC new appointments strengthen leadership team

Peyman Parham Al-Awadhi, head of marketing and corporate communications at DIFC Authority.
Updated 10 July 2019

DIFC new appointments strengthen leadership team

The Dubai International Financial Centre (DIFC) Authority, the entity responsible for the operations and management of the leading financial hub for the Middle East, Africa and South Asia region with a wealth and asset management market of $424 billion, has strengthened its leadership team to drive its ongoing journey toward becoming a next-generation financial center.

The center has made a number of strategic appointments and promotions of UAE nationals to spearhead key initiatives that support the DIFC’s vision to further enable financial technology in the region. In addition, this supports the center’s broader expansion plans approved by Sheikh Mohammed bin Rashid Al-Maktoum, vice president and prime minister of the UAE and ruler of Dubai, in January.

Peyman Al-Awadhi has been appointed as head of marketing and corporate communications at the DIFC Authority to lead the strategic positioning, digital transformation and engagement of the center. Senior individuals have been promoted within the organization, including Mohammad Alblooshi to sector head of fintech, who is leading the development of the center’s fintech ecosystem, Alya Al-Zarouni has been promoted to executive vice president of operations, while Raja Al-Mazrouei has been elevated to the position of executive vice president of DIFC FinTech Hive.

Arif Amiri, CEO of the DIFC Authority, said: “During the last 15 years, DIFC has firmly reinforced its position as one of the world’s top financial centers. Our focus is to become the most advanced financial center in the world and the only way to do this is to ensure we stay ahead of the curve. 

“Our future is deeply rooted in digital transformation and innovation and it’s crucial for us to make sure we have the right people in the right positions to help realize this vision.”

The UAE has an ambitious goal to become one of the top 25 in the world for gender equality by 2021, and in 2018, a new rule was created to mandate a female presence on listed companies’ boards of 20 percent by 2020. The DIFC is committed to the UAE mandate to embrace diversity.

During the last five years, the total workforce growth in the DIFC Authority reached 23 percent, with Emiratis comprising approximately 40 percent of the total workforce. 

Fifty-five percent of senior management within the DIFC Authority are Emiratis. When it comes to roles with the DIFC Authority, women and men reported 57 percent and 43 percent, respectively.

Arabian Power Electronics factory starts operations

Updated 23 July 2019

Arabian Power Electronics factory starts operations

The new plant of Arabian Power Electronics Company located in Dammam’s Industrial Area has started its operations following a soft-inauguration event on July 5.

The inaugural ceremony com- menced with the ribbon cut by Dr. Siddeek Ahmed, chairman and managing director, Eram Group.

Dr. Sattam Al-Omairy, director, APEC, did the ribbon cutting for the shop floor inauguration.

The meeting started with a wel- come address by Abdul Razack, group CEO, Eram Group.

Jacob Thomas, business unit head of APEC, spoke about the birth of APEC and how it grew to a market leader today in his open- ing remarks.

In his inaugural address, Dr. Sid- deek Ahmed, CMD, Eram Group, expressed his vision behind estab- lishing the first power electronic manufacturer of Saudi Arabia.

Saad Al-Shahrani, chairman, Saudi Council of Engineers, Rizwan Ahmed, director, Eram Group, Elio Maggi, executive board member, Eram Group, Mohd Al-Shallali, executive board member, Eram Group, Abdullah Al-Ajmi, corpo- rate affairs manager, APEC, also ad- dressed the event.

Madhu R. Krishnan, group direc- tor, Eram Group, offered a vote of thanks to all the well-wishers for their constant support to the com- pany during the past eight years.

Arabian Power Electronics Com- pany is a leading global power electronics manufacturer with world-wide operations and a production facility in Saudi Arabia.

APEC was established in 2011 as a flagship division of ERAM Group, one of the most diversified business conglomerates in the Middle East.

The company has gained wide ac- ceptance for the quality of products and services by serving more than 700 clients in the region and a total installed capacity over 12 MW of power backup systems.

The company has an operations and maintenance team capable of reaching clients across Saudi Arabia. The new facility will de- liver the most innovative technol- ogy, products and services as well as job opportunities to young Sau- di engineers. This will accelerate the company’s vision of becoming the pioneers of power electronics in the region.

As Vision 2030 demands the de- velopment of a more stable energy sector with localization of the tech- nology, APEC is close to achieving this through the process of trans- ferring power electronics technol- ogy to the Kingdom.

The facility is completely de- signed and constructed for the future. Its position and proximity to the upcoming King Salman En- ergy Park, which is going to be the epicenter of global Industries, will help turn the spotlight on APEC — the indigenous manufacturer.