40 and Under: the Region's Most Influential Young Business Leaders
Tue 30 Oct 2018 06:25 AM
Jad Toubayly

Industry: E-commerce

Company: idealz

Designation: Co–founder and CEO

Country: Lebanon

Age: 34

Jad Toubayly first moved to the UAE in 2005 where he started his career with Ernst & Young in Transaction Advisory Services. His love for numbers and finance landed him a job at Deutsche Bank in late 2008 as a Sharia-compliant credit and derivative structurer. Toubayly was involved in major credit, derivative and capital markets transactions from across the globe and spent most of his time between Dubai and London.

From there, Toubayly moved to JP Morgan in 2014 also doing Sharia-compliant credit and derivative structuring with a global mandate. By leveraging technology, Toubayly completely restructured the internal framework for JP Morgan that allowed them to seamlessly execute Sharia-complaint derivative transactions.

Having spent most of his career chasing various market arbitrages, his latest career move is far yet close to his past. Toubayly co-founded Idealz, an ecommerce platform that is straying from the mainstream pack and treading its own path in online shopping innovation. The traditional online shopping formula did not appeal to him given the titans already dominant in the region. Idealz has managed to put together a formula and business model that not only pleases the customer and business bottomlines, but also has significant social impact outputs.

In keeping with his past, Idealz is fully Sharia-compliant and has done significant work with Dubai Cares to provide quality education to those less fortunate around the world. The true innovation of Idealz’s business model along with its growth and performance prospects has attracted a leading global venture capital firm (top 10 in the world) to make their first investment into the MENA region. Idealz’s global reach has topped 150 countries since going live in late 2017 and was subsequently voted the region’s Startup of the Year 2018 by Arabian Business.

Toubayly has plans to continue to expand Idealz’s geographical dominance beyond the MENA and GCC regions and maximise its social impact outputs.