JEDDAH, 27 March 2005 — Esam Janahi, chief executive officer of Gulf Finance House (GFH) and chairman of Bahrain Financial Harbor (BFH), has been named the “Young CEO of the Year” for 2005 at the prestigious annual Middle East CEO of the Year Awards ceremony.
The award, given at a ceremony organized by the Dubai-based knowledge service provider Datamatix, was in honor of the innovative and pioneering initiatives that have made GFH one of the leading Islamic financial institutions in the region.
The award ceremony, which took place in conjunction with the Zayed Leadership and Economic Success Summit in Dubai, honors Middle East corporate leaders whose business acumen, leadership skills, professionalism and vision have helped shape the success of their businesses.
Naming Janahi as the “Young CEO of the Year,” Ali Kamali, chairman of the organizing committee said the award recognized the leadership and commitment to excellence of Janahi and his positive impact on GFH.
In only five years GFH has become an acclaimed regional Islamic institution with a portfolio of investments across an array of economic segments including real estate, infrastructure, industrial, technology, transport, financial services, leisure and education.
Riding on the back of a successful and long-term investment strategy, the bank recently announced a 233 percent rise in net profit for 2004 at $56.9 million compared to $17.1 million in 2003.
Janahi received the award from Sheikh Hasher Al-Makhtoum, director, Department of Information, Dubai, at the ceremony attended by about 250 CEOs, managing directors and senior business and government professionals from all over the Middle East.
Commenting on the award, Janahi, said: “I am delighted to receive the award which will encourage me to continue to pursue excellence in my career. I will extend all my efforts toward ensuring the continuing success of GFH. This award is also recognition of the efforts of the senior management and staff of GFH whose dedication and diligence have made it possible for the bank to be a winning institution focused on maximizing shareholder value.”
Janahi has led the successful diversification of GFH and is behind the bank’s landmark projects which include the $1.3 billion Bahrain Financial Harbor, the $750 million Al-Areen Desert Spa and Resort and a $3.8 billion theme park, Legends in Dubailand.
Earlier, Janahi was nominated by the World Islamic Banking Conference 2003 in Bahrain as the “Islamic Banker of the Year” and under his leadership, GFH received the Euromoney nomination as the “Most Innovative Islamic Finance House” in 2004. In 2005, GFH also won the “Best Islamic Real Estate Finance House” title from Euromoney.
Janahi has also been nominated as the Young Arab Leader by the Young Arab Leaders Organization. He was invited as a “Young Global Leader” to attend the World Economic Forum (WEF) which took place in Davos in January.
