People Moves

Middle East Global Advisors Names New CEO

Julia Reinholdsson London 23 July 2015

Middle East Global Advisors Names New CEO

The gateway connectivity and intelligence platform has appointed Thomson Reuters' global head of Islamic capital markets at the helm.

Middle East Global Advisors has hired Sayd Farook as vice chairman and chief executive, replacing David McLean who left earlier this year.

Farook joins the Dubai team from Thomson Reuters, where he led the Islamic finance and markets business for over five years as global head of Islamic capital markets.

His appointment comes at a time of rapid asset growth in the Islamic finance industry. According to data from the ICD Thomson Reuters Islamic Finance Development Indicator, the Islamic finance industry reached $1.94 trillion at the end of 2014, with average growth of 17 per cent over the past three years.

In his new role, Farook will be responsible for growing ME Global Advisors' portfolio of business lines to a range that will include sector-based intelligence and business-to-consumer technology connectivity platforms.

“I am delighted to welcome Dr. Sayd Farook to lead ME Global Advisors through a new era towards the future for Middle East, North Africa and Southeast Asia markets, as they transform from resource dependent economies to knowledge-based economies,” said ME Global Advisors' chairman, Ehsan Abbas.

Middle East Global Advisors has served clients across Organization of Islamic Cooperation markets in East Asia, the Middle East, Central Asia and East Africa for the past 22 years with global conferences on Islamic finance and the Islamic insurance concept takaful.

The company said the Islamic finance industry is set to play a critical role in the development of Middle East, North Africa and Southeast Asia economies as regional governments actively promote financial inclusion through Shariah compliant SME funding capacity, as well as infrastructure development through instruments such as sukuk, commonly referred to as Shariah compliant bonds.

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