Amana Capital’s ex-CEO launches Mafhoom Technologies in Dubai
Amana Capital’s former CEO, Ahmad Khatib, and its business development officer Ziad Melhem have launched a new Dubai-based firm called Mafhoom Technologies.
The new business is located at the Dubai International Financial Center (DIFC). Its website, https://www.mafhoom.app/, is still under construction and it doesn’t show concrete details about its exact activities. However, Mafhoom Technologies logo states that it aims to reshape the financial literacy in the Arab World, and raise awareness about its wide-ranging effects.
Ahmad Khatib led Amana Capital since its inception back in 2010. Back in December, he stepped down for “personal reasons,” but stayed in an advisory role to ensure a seamless leadership transition.
FX industry veteran Muhammad Rasoul replaced Khatib as the Middle East-focused broker ‘s chief executive officer. Previously, Muhammad was CEO at ACM Group Limited (known in the industry as ‘Alpha’). In 2020, he left the business after it was acquired by Playtech and rebranded as TradeTech, ending a four-year tenure with the company that offers bespoke risk management and trading solutions to B2B clients.
Amana Capital is making changes in senior management
Khatib also parted ways with his position as Executive Director of 180 Capital. The latter is a holding company that incorporates Amana Capital, Centroid Solutions, and 514 Capital Partners which are regulated across four jurisdictions in the UK, Dubai, Cyprus and Lebanon.
Khatib has originally started his career in 1998 as an auditor with KSA-based Arthur Andersen, then joined Arab Bank in Dubai. Other stops include assuming the position of CFO of Dubai TV, CEO of Orion Holding, and also hosted a show called “Bayn Alarkam” on CNBC Arabia.
Ziad Melhem also left Amana Capital at the end of 2021 to pursue personal interests. Melhem, who has been with the organization for over eight years, had been instrumental in driving the retail broker’s growth and customer base.
Ziad is also the founder and CEO of GoldenHill, a company that provides professional consultancy and training in leadership, team engagement, human resources, marketing, sales and process improvement.