ACY Securities MENA hires Islamic Finance specialist Dr. Nedal Alchaar as Chief Economist

Rick Steves

His contributions to Islamic Finance have not gone unnoticed. Among his many accolades are the His Highness Sheikh Mohammed Bin Rashid Al Maktoum Prize for Banking Excellence in 2006, and two nominations for The Nobel Prize.

In a strategic move aimed at bolstering its intellectual arsenal, ACY Securities has welcomed Dr. Nedal Alchaar as Chief Economist for its Middle East and North Africa (MENA) division. Dr. Alchaar brings to the table a treasure trove of experience in finance, economics, and academia, having previously served as Syria’s Minister of Economy and Trade, among other roles.

Dr. Alchaar’s appointment comes at a pivotal moment when ACY Securities is ramping up its market presence in the rapidly evolving global financial landscape. The move follows closely on the heels of ACY’s recent announcement introducing a new suite of futures CFD products across forex, energy, and soft commodities.

Dr. Nedal Alchaar served as Syria’s Minister of Economy and Trade

“His track record of success and his deep expertise in finance and economics make him an invaluable addition to our company. We look forward to working closely with him and leveraging his insights and knowledge to benefit our clients and partners,” said Alla Darwish, ACY Securities MENA Managing Director.

Before his appointment, Dr. Alchaar served in significant capacities at Fannie Mae and Johnson & Higgins in Washington D.C. He has also been an adjunct professor of Economics and Finance at George Washington University and is a prolific author, specializing in Islamic Economics and Finance.

His contributions to Islamic Finance have not gone unnoticed. Among his many accolades are the His Highness Sheikh Mohammed Bin Rashid Al Maktoum Prize for Banking Excellence in 2006, and two nominations for The Nobel Prize. Arabian Business Magazine also ranked him as the eighth most influential business figure in the Arab World.

“At this juncture in my career, becoming a part of ACY’s team, is a refreshing move to work with a rising company that holds high standards, devotion, and most importantly, client protection,” said Dr. Alchaar.

The hiring of Dr. Alchaar underlines ACY’s commitment to melding top-tier expertise with its core values of client-focus and technological innovation. His vast experience and insights into Islamic Finance could prove instrumental as ACY seeks to expand its footprint in the MENA region, a market known for its regulatory intricacies and a growing appetite for sophisticated financial products.

Dr. Alchaar himself emphasized ACY’s commitment to corporate social responsibility and good governance, saying, “ACY Securities’ firm conviction in corporate social responsibility and good governance will take it to new heights.”

As ACY Securities pushes forward with its global expansion, Dr. Alchaar’s expertise will undoubtedly be a cornerstone in navigating the complex market realities. The company is clearly optimistic about leveraging Dr. Alchaar’s skills to maintain a competitive edge in an industry that never sleeps.

Dr. Alchaar concluded, “I thank the management at ACY Securities for their professional manner in creating the opportunity for us to work together towards advancing our scope and innovations, and to continue to deliver superior services to our clients.”

Read this next

Digital Assets

JPMorgan’s stablecoin ventures into interbank transactions

JPMorgan Chase & Co.’s proprietary digital token, JPM Coin, is set to expand its use case by facilitating interbank transactions on Partior, a blockchain ledger developed in collaboration with DBS Bank, Temasek, and Standard Chartered.

Retail FX

Interactive Brokers’ client base surges past 2.5 million

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.89 million daily average revenue trades, or DARTS, in November 2023 compared to 1.93 million transactions in the prior month. The figure is three percent lower on a yearly basis, and also dropped slightly from a month earlier.

Executive Moves

Andrew Gibson launches TimberFX brokerage brand in Cyprus

After nearly two years at Tavira Securities as Head of Product Development, industry veteran Andrew Gibson is launching a new FX brokerage business based out of Cyprus.

Market News

US Dollar’s Trajectory Amidst Seasonal Trends and Economic Indicators in December 2023

As we traverse the final stretch of 2023, the noteworthy depreciation of the US dollar dominates the financial landscape

Inside View

Unlocking the Financial Potential of SMEs: Is FinTech the Key?

The rise of the gig economy for early-stage startups and freelancers has highlighted the increasing importance of small-scale business transactions and banking requirements. Unfortunately, this has also exposed a significant gap in the SME banking landscape.

Digital Assets

South Africa’s FSCA receives 138 crypto license applications

The Financial Sector Conduct Authority (FSCA) of South Africa is currently processing a slew of applications from cryptocurrency companies seeking operational licenses.


Exclusive Interview with Greg Rubin, Head of Axi Select: Unveiling the Future of Capital Allocation in the Financial World

Today, we are thrilled to kickstart another series of exclusive interviews with top executives in the financial services industry, hosted by our FinanceFeeds Editor-in-Chief, Nikolai Isayev. Our next guest is none other than Greg Rubin, the mastermind behind Axi Select.

Digital Assets receives UK’s EMI license, paving way for regulated expansion

Cryptocurrency exchange has been authorized as an Electronic Money Institution by the United Kingdom’s Financial Conduct Authority (FCA).

Digital Assets

Ripple’s Metaco joins Zodia Custody’s network for connectivity with Layers 0 and 1

“As the industry undergoes a pivotal transformation, our networked infrastructure is dedicated to standardise, govern and connect institutional digital asset flows — an essential step in forging use cases that transcend individual companies.”