Yusuffali MA tops list of most successful business leaders
There are eight billionaires of Indian origin based in the Middle East
Yusuffali MA, chairman of Lulu Group, has topped Forbes Middle East’s most recent Top Indian Leaders in the Middle East list, which recognises the achievements of the Arab world’s most successful Indian business leaders.
The 30-member list is dominated by business personalities based in the UAE, with nearly half of them hailing from the Indian state of Kerala. Yusuffali MA is followed by Renuka Jagtiani of the Landmark Group, Sunny Varkey of GEMS Education, Sunil Vaswani, Ravi Pillai, PNC Menon, and Dr. Shamsheer Vayalil among others.
Keralites dominate the list with 10 in Top 15 Image Credit: Supplied
Forbes Middle East unveiled the Top Indian Leaders in the Middle East, recognizing the achievements of the Arab world’s most successful Indian business leaders.
The 30-member list is dominated by business personalities based in the UAE, with nearly half of them hailing from the Indian state of Kerala.
Yusuffali MA, Chairman of Lulu Group tops the list followed by Renuka Jagtiani of the Landmark Group, Sunny Varkey of GEMS Education, Sunil Vaswani, Ravi Pillai, PNC Menon and Dr. Shamsheer Vayalil among others.
Though the list is dominated by veteran business leaders, inclusion of new generation business owners like Adeeb Ahamed of Lulu Financial Holdings is a great recognition for the young generation Malayalee business leaders who are making an impact in the Middle East.
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The digitalisation of the UAE s remittance industry picked up in 2020 as a result of Covid-19-related movement restrictions, with many providers reporting exponential growth in money transfers through mobile apps.
“The major trend in the UAE remittance industry this year is the adoption of digital channels faster than what we have seen in the previous years,” says Rashed Al Ansari, chief executive of Al Ansari Exchange. “The pandemic has warped the speed of adoption for existing digital channels, shortening the uptake that would normally take years into months, especially in the second quarter of this year.”
The UAE is the second-biggest global market for outbound migrant remittances after the US before the Covid-19 outbreak, according to preliminary 2020 data in a study by Oxford Business Group and Al Fardan Exchange.
In conversation with Adeeb Ahamed, Managing Director, LuLu Financial Holdings Adeeb Ahamed, Managing Director, LuLu Financial Holdings Image Credit: Supplied
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Adeeb Ahamed, Managing Director, LuLu Financial Holdings, reveals the mantra behind the brand’s success
Congratulations on winning top honours at the Forbes Top Exchange Houses in the Middle East awards recently. It’s been an excellent growth trajectory for LuLu Exchange in the last five years. What’s your mantra for success?
We founded LuLu Exchange in 2009 with the vision to innovate value and inspire experiences towards improving people’s lives. We owe our rapid growth to the manner in which we have stayed true to this vision, constantly embracing the latest technologies to introduce new products and services that strike a chord with the payment needs of our customers.