The 10 Most Inspiring CEOs to Look in 2023_Profile Archives

Hisham Hammoud: Leading the Way to Economic Success

Backed by an eminent and respected group of shareholders, Aafaq Islamic Finance was established in 2006 to provide innovative Islamic financial services and products that comply with Islamic Sharia across the UAE and the Region. Headed by its CEO, Hisham Hammoud, Aafaq stands on the list of many prominent financial organizations delivering high-quality financial services for a wide range of institutions.

Hisham is a business leader and a banking professional with over two decades of experience in business execution strategies, consumer banking, investment and wealth management, treasury and capital markets, operations, technology, risk management, business process re-engineering, profit, and cost optimization.

Over the years, Hisham has worked in Senior Executive roles across organizations like Citi Bank, Dubai Bank, Dubai Tadawul Brokerage, Dubai Resources, Al Tagdeer Company, Bank Islami Pakistan Limited, Network International Group, and Ajman Bank.

Hisham also holds a Risk Management and Advanced Leadership Skills certification from the state-of-the-art International Leadership Programs in the US, EMEA & AP regions. Besides that, he has an in-depth understanding of auditing and the associated regulatory issues in both local & global banks.

As the Group Chief Executive Officer at Aafaq Islamic Finance, Hisham drives the group strategy to maximize shareholder value and achieve market-leading business growth while building customer relationships and loyalty. Hisham’s relentless ambition and energy have driven him to achieve and exceed targets, goals and attain objectives.

A Key Player in the Financial Services Industry

With a proven track record of delivering innovative and Shariah-compliant financial solutions to its customers, Aafaq Islamic Finance has established itself as a strong player in the UAE.

Aafaq Islamic Finance recognizes that today’s youth are the leaders of tomorrow, and it is committed to empowering them through its products and services. By providing exceptional financial education and support, Aafaq aims to help the younger generation achieve their goals and contribute to the growth and development of the UAE.

On the other hand, SMEs play a crucial role in UAE’s economy, contributing significantly to employment and economic growth. However, these SMEs often struggle to access financing due to their size and lack of collateral. So, by supporting SMEs, Aafaq Islamic Finance aligns with the UAE government’s effort to promote economic growth and diversification through supporting small businesses.

“We are also exploring new market segments traditionally underserved by the financial industry. Through our innovative solutions, we aim to bring financial inclusion to these segments and help them realize their full potential,”- explains Hisham. “Digital transformation and innovation are also key elements of our new vision. We recognize that the world is changing rapidly, and we must adapt and evolve to stay ahead of the curve. By embracing technology and innovation, we aim to transform how financial services are delivered and revolutionize the industry.”

Due to its commitment to innovation, Aafaq Islamic Finance strongly focuses on AI and its potential to transform the financial services industry. Through its investment in digitalization, Aafaq Islamic Finance aims to offer its customers personalized and intelligent financial solutions. The organization’s digitalpowered solutions will better understand its customers’ needs and preferences and tailor its products and services accordingly.

Hisham and his team at Aafaq Islamic Finance also believe it can help the organization improve its risk management and compliance process, leading to a more secure and transparent financial system.

Creating a Diversified and Sustainable Economy

Being a leading Islamic financial institution, Aafaq is extremely proud to contribute to the UAE’s efforts to create a diversified and sustainable economy. The organization’s initiatives are aligned with the UAE’s vision of promoting innovation, entrepreneurship, and financial inclusion, and it is committed to supporting the government’s efforts in achieving these objectives.

Through its products, partnerships, and services, Aafaq aims to support UAE’s vision of becoming a hub for innovation, a leader in sustainability, and a model for economic growth and development.

With the contribution of Aafaq’s customers, employees, and partners, Hisham is hugely excited about the organization’s new vision and looks forward to working together to create a better future for all.

“Our focus on digitalization is key to our new vision and initiatives. We are excited about the potential of this technology to revolutionize the financial services industry, and we are committed to being at the forefront of this transformation,” – states Hisham.

A Leading Provider of Islamic Financial Services

Founded with the goal of providing innovative and customer-focused financial solutions in accordance with the principles of Islamic finance, Dubai-based Aafaq Islamic Finance is now a leading provider of Islamic financial services.

Some of the products and services offered by Aafaq Islamic Finance include:

Corporate finance: Aafaq Islamic Finance provides various corporate finance services, including project and trade financing.
Retail finance: The company offers a range of retail financial products and services, including personal loans, credit cards, and deposit products.
Investment deposits: Aafaq Islamic Finance provides Shari’a compliant Wakala investments. On maturity, Corporates can enjoy several renewal options, from rolling over the principal amount & profit to rolling over the principal amount and collecting the profit.
Corporate guarantees: The company offers several types of corporate guarantees with flexible margin options and simple & fast processing. Aafaq provides the following types of Corporate Guarantees:

- Bank Guarantees
- Labor Guarantees
- Establishment Guarantees
- Financial Guarantees
- Bid Bonds
- Advance Guarantees
- Performance Bonds
- Retention and Maintenance Guarantees

Motivating Innovation and Creativity in the Workplace

In today’s dynamic and fiercely competitive business world, the key to success lies in being creative and innovative. Hisham recognizes this fact and is determined to cultivate a culture of creativity and innovation at Aafaq Islamic Finance to keep the organization ahead of the game in the financial industry.

Promoting creativity and innovation in the workplace can also help Aafaq Islamic Finance attract and retain exceptional talent while creating a conducive and positive work environment that inspires employees to generate fresh and inventive ideas constantly. Hisham firmly believes that this is an indispensable aspect of the organization’s success and continues to work towards enhancing it. After all, creativity and innovation are essential for any company striving to excel in today’s competitive landscape.

Tackling the Pandemic

The global financial industry, including Aafaq Islamic Finance, has been greatly impacted by the COVID-19 pandemic. The pandemic has resulted in significant economic disruptions, creating various challenges for financial institutions.

To overcome these challenges, Aafaq Islamic Finance, along with other financial institutions, had to adapt its business model to ensure the safety of its employees and customers. This involved adopting digital and remote services, reducing branch operations, and implementing health and safety protocols. Additionally, the company has prioritized supporting its customers during these unprecedented times by providing flexible repayment options, offering financial education and advice, and implementing measures to alleviate the pandemic’s impact on the communities it serves. Despite these challenges, Aafaq Islamic Finance remains committed to providing the highest level of service to its customers while ensuring the safety and well-being of its employees.

The Gender-Pay Gap Challenge

The gender pay gap is a persistent issue that continues to plague societies worldwide, representing a sobering reminder of the disparities that still exist between genders. Despite concerted efforts to promote equality and fairness, women continue to earn less than their male counterparts for the same work, with the gap sometimes widening. This insidious form of discrimination erodes women’s financial independence and reinforces negative gender stereotypes, perpetuating a cycle of inequality that undermines progress and undermines the potential of half the population.

Being an organization committed to empowering and encouraging women, Aafaq Islamic Finance believes the pay disparity can have long-term effects on women’s financial condition.

“Unfortunately, despite advances in equality and anti-discrimination laws, the gender pay gap persists in many countries and industries. Women often earn less than men for doing the same work. This disparity can have long-term effects on women’s financial stability and economic independence,”- explains Hisham. “But one thing is for sure, that we at Aafaq Islamic Finance do not have a gender pay gap, but on the contrary, we always encourage and empower women while we also have an internal equal pay policy set in place to ensure that women working in Aafaq receive equal rights.”

Preparing for a Better Future

As Aafaq Islamic Finance enters 2023, the company has set its sights on enhancing the customer experience, embracing digital transformation, and fostering greater financial inclusion, all while promoting sustainable and responsible investment practices. The year 2022 was dedicated to building a sturdy foundation enabling Aafaq to navigate new challenges and seize emerging opportunities, thereby securing a leading position in the industry.

Iqra Khan: Creating Unforgettable Experiences, One Event at a Time

Meet Iqra Khan, the CEO of Talkingly, a Dubai-based Event Management company. With a wealth of experience and a passion for creating positive change, Iqra has not only succeeded in building a successful business but has also become an advocate for women’s empowerment. Iqra’s leadership style fosters collaboration and encourages her team members to think outside the box. Her unwavering commitment to excellence and determination to overcome challenges have earned her respect and admiration in the industry. Iqra inspires women worldwide to pursue their dreams and break barriers in their respective fields through her work. She is a true testament to the power of female leadership and a role model for the next generation of women entrepreneurs.

Recently, we had an opportunity to sit down with Iqra and learn how she is changing the world of events with Talkingly.

Below are the highlights of the interview .

Q) Please tell me your story. Or How did you get your start?

Iqra) Thank you for considering Me for such an Amazing ‘magazine! I have been living and making life in Dubai, UAE, since 2015. I started my career here in Marketing with an Events Company and then moved into my own business in 2020, during the Covid times.

I felt that I was stuck in the Corporate world and wanted to start something of my own, through which I could challenge myself and support other young women entrepreneurs in UAE too, and Talkingly began.

Q) Please tell us about Talkingly and how it serves its clients.

Iqra) Talkingly is a Business Events Company that helps the business community and individuals coming to Dubai to learn about the market Norms and Business Terms. We Assist them in Connecting with Right Partners, Colleagues, and Business Aquantices through Events. We also assist our clients in establishing their business in Dubai from scratch through Events.

Q) What distinguishes Talkingly from its competitors?

Iqra) As I said, Talkingly assists New Businesses in Dubai through Events, which is unique. We provide a platform for the clients to join and get the business running through events, which no one else in the marketing is offering for now. We have successfully connected and educated many businesses so far, while many found partners through our network and community.

Q) How do you motivate creativity and innovation in the workspace while maintaining a healthy work environment?

Iqra) Talkingly believes in new ideas and listens to everyone who has something to share regarding business, we always welcome new Collabs that can support both sides, but one thing we make sure of is to execute.

Q) How do you focus on Diversity and Inclusion in your organization for success?

Iqra) Well, Dubai is a very diversified market itself, and it’s not very difficult to bring on multiple nationals to work together, so even in our company, you will find 4-5 different regions’ resources working together; that’s the beauty of UAE. We focus on having the best resources no matter which region or nation they are coming from

Q) Please explain the pandemic’s effect on Talkingly. And how you tackled it?

Iqra) That’s a funny story, during covid when talkingly was started, it was EXPO2020 time, the WORLD BIGGEST Show of Businesses, and luckily Covid was not a problem for us, as Dubai was doing the work of bringing the world together and the business in that time in Dubai was High. Lots of events were happening, and we were able to get good action in that period of time.

Q) What does success look like for you?

Iqra) Success is a never-ending journey. You make and achieve goals, and these small achievements make you successful. Never giving up is success too. I think it’s a journey, and not one thing can confirm that now I am successful cause the meaning of success will keep on changing.

Q) What are your plans for 2023 and beyond?

Iqra) In 2023, we are planning to focus on one-to-one events and big conferences in ‘Business Expansion in Dubai to capture New Businesses.

Q) What is one characteristic that you believe every leader should possess?

Iqra) Teamwork.

Henry Lukenge: Helping you Find the Perfect Caregiver

Healthcare staffing companies provide temporary and permanent staffing solutions for healthcare facilities, including clinics, hospitals, long-term care facilities, and other medical institutions. These organizations specialize in recruiting and placing healthcare professionals in various roles, including registered nurses, physical therapists, medical assistants, etc.

Founded by Mr. Henry Lukenge in late 2009, NEXIM Healthcare Consultants Inc. is one such countrywide provider of contingent, planned, and un-planned health and social care staff to hospitals, community living organizations, families with individuals who have developmental delays, and homecare through its Retire@home program for seniors retiring at with their homes. Other value-added services Nexim Healthcare provides include, but are not limited to, call assurance, home modifications to enable elders to stay in their homes, non-ambulatory transportation, and wheelchair-accessible transportation.

The Steadfast Leader

Born and brought up in a family of entrepreneurs, Mr. Lukenge has seen his father run one of the first indigenously owned construction companies in Uganda during the mid-70’s. Initially, Mr. Lukenge worked at his father’s construction company and learned various skills.

In the late 80s, he moved to England with his eight siblings and parents after surviving the conflict and displacement from Uganda. Mr. Lukenge completed his high school in England and joined the University to study Mathematical statistics, a career he had little interest in, but with limited command of the English language, his choices was limited. Later Mr. Lukenge went back to school for the professional accounting exams at the Association of Chartered certified accountants-UK- which combined his great love for numbers, problem-solving, and people engagement. With his outstanding performances in the CA program, he was then hired to join the articling program at one of the Big 4 Accounting firms in the U.K. Eventually, he rose through the ranks to become a junior tax partner – leading larger tax compliance, audit, and financial risk analysis projects across Europe, South East Asia, and Africa before being headhunted for an investment banking role in Canada’s one of the largest Trust Funds as a Director of Investor Services.

So, in 2006, Mr. Lukenge relocated to Canada. He served the Trust Fund for nearly three years until he got disillusioned and unhappy with his career and decided to walk away from the finance and accounting industry to start his own business.

Initially, Mr. Lukenge wasn’t sure about the nature of his new business. So, he took his time out and visited his mother in Kampala, Uganda, who advised him to set up a healthcare staffing company focused on providing thought staffing solutions to help leading sector players in the health and social care sector fulfill their staffing needs.

Eventually, in late 2009 Mr. Lukenge returned to Toronto, sold all of his real estate, prepared a business plan, and established NEXIM Healthcare as a business.

Revolutionizing Healthcare Staffing

When Mr. Lukenge founded Nexim, he wanted to create a company that would revolutionize the healthcare staffing industry while using some of its net income and technical expertise to advance access to education, wildlife conservation, and the fight against climate change in the third world. Mr. Lukenge’s life journey began in Iddi Amin’s Uganda, East Africa via South Africa where he overcame apartheid and a refugee camp to become a CA, enter the largest board rooms, and achieve the enormous success he never imagined possible because he was able to attend school when the majority of the children he was displaced with failed to do so. This is one of the main reasons why Mr. Lukenge established NEXIM more than a decade ago. Through NEXIM, Mr. Lukenge offers internships to inner-city kids who are starting their careers and have no places to find internships, so they don’t have to go through what Mr. Lukenge went through when starting his career in 1990s South London, England

“The day NEXIM Broke even is the milestone I’m most proud of, but my greatest career achievement to date was the day I retired from my career as an Investment Banker leaving a whole life to start a new one. Best decision I have ever made in my life.”- he states.

Primary Challenges of the Healthcare Industry

As NEXIM Healthcare’s founder, Mr. Lukenge always prefers to call challenges opportunities for growth. According to him, the primary challenges lie in the lack of qualified and employable candidates and longer wait times for internationally educated healthcare professionals to be integrated into the Canadian healthcare system because there are no updated and precise professional competence requirements for IEHPs entering the country. Also, the incompatibility between the provincial and federal immigration policies with healthcare professionals’ credential accrediting organizations and the less than adequate supply of amenities like transit and short-term rental units in the hard-to-serve areas of the provinces poses a significant challenge for the industry.

However, Mr. Lukenge and his team at NEXIM are working with all levels of the government, professional accrediting agencies, hospitals, and various stakeholders to help capitalize on these opportunities. Presently, NHCI is setting up its own private career college with a focus on controlling access to training opportunities for healthcare staff and helping with faster integration of IEHPs into the labor force.

NEXIM is also working with the government and other professional accrediting organizations to simplify protocols so IEHPs coming to Canada can be granted shorter wait times to appear for the practice compliance tests. Additionally, with its facilities management unit, NEXIM is building a unique ecosystem consisting of short-term accommodation, site-to-site transportation, and several other amenities for staff who are willing to relocate for projects in hard-to-serve areas. In the process, the organization has created an entirely new business unit through which it has built a substantial real estate portfolio for its stakeholders while providing reliable services to its clients.

“Our vision is to become a leading healthcare manpower planning leader across North America through a combination of local and international healthcare human capital talent acquisition, placement, and career development in partnership with public, private, and Inter -government stakeholders,”- Mr. Lukenge explains.

Assisting Clients During the Pandemic

Overall, the pandemic proved advantageous for NEXIM and gave the business an ideal balance of risk and reward to expand its services. During the pandemic, NEXIM Healthcare grew its service area to the entire province and became a province-wide provider of its services. Due to its ability to combine lodging, site-to-site transportation, and the creation of isolation hubs for staff supporting various clients, NEXIM Healthcare quickly established itself as the go-to business for anyone in its region experiencing a COVID-related staffing crisis.

“Through earlier preparations and a solid business plan that prepared us for the pandemic without us actually knowing it was coming, our operation and logistics units fit perfectly in the country’s drive to lower community spread; hence we experienced rapid growth and grew our business by 150% year vs. year during the pandemic,“- remembers Mr. Lukenge.

Building An Unique Ecosystem to Support Remote Regions

With the help of Mr. Lukenge’s visionary leadership, NEXIM has become one of the very few healthcare staffing firms that have created a distinctive ecosystem to support organizations in remote locations with third-party staffing services without passing on high costs for short-term stays and logistics. NEXIM assists its clients in reducing their costs while still maintaining margins for itself by combining its expertise in real estate, vehicle fleet management, and management services.

NEXIM is one of Canada’s very few 24/365/7 days completely staffed healthcare staffing organizations. It provides seamless scheduling, intake, and timesheet tracking via a technology suite that combines scheduling, payroll, and accounting into one. This enables NEXIM’s clients to monitor staff on shifts from the comfort of their homes to the site with digital time cards used for payment and invoicing.

Looking at The Future

Presently NHCI is diversifying around its core services of providing third-party services to the healthcare industry. NHCI is also planning to set up a countrywide PCC network to help train both social and healthcare workers and to help quickly integrate IEHPs into the Canadian labor force.

Also, through NEXIM’s philanthropic program NIDO, Mr. Lukenge intends to increase the number of scholarships for East and South African students to 10k yearly. Presently, through its 4E framework, NIDO provides scholarships to 400 students. Additionally, through the NIDO program, Mr. Lukenge aspires to help healthcare organizations with their international healthcare staff recruitment plans while helping them craft faster integration protocols for IEHPs.

“We are taking NEXIM Canada-wide though remodeling a dilapidated commercial unit which we are equipping to become a large Hub in the city of Hamilton, which will contain operations, shared services, and logistics unit hired based on the different time zones In Canada ,”- he says.

Entrepreneurship is a Game of Patience

Mr. Lukenge believes entrepreneurship is a game of patience, persistence, discipline, and comfort in loneliness; for the most part, an entrepreneur will work alone toward a business and idea. So, he suggests that young entrepreneurs should never forget it’s a long journey whose results can even take years to manifest, so when things do not work on their time, they should not despair.

“For those starting out, I can say that– our society or world has many needs or problems; find a way to solve one at a price that few can beat and let everyone know about it. Be disciplined and patient in a delay while working hard but find time to play. Remember to bring as many people with you as you can. The rest will take care of itself,”- he concludes.