Abdul Aziz Al Ghurair’s position as the CEO of Mashreq has given him great influence on the banking world. Mashreq has financed the purchase of thousands of new homes in the Arab world, and his influence looks set to rise further as Western markets look to the Gulf for financial aid.
Mashreq recently hosted its annual general meeting, resulting in the approval of recommendations from the board of directors as to the distribution of profits at 10 percent cash dividends and 10 percent bonus shares to shareholders – a good year considering the troubles that have afflicted banks worldwide in the last few difficult months.
“Over the course of the last year our shareholders have shown strong support for the bank, helping us retain profit levels and build a strong capital base through internal capitalisation. As a result, our capital adequacy stands at 14 percent, which is above the UAE central bank requirements,” Al Ghurair reassured investors.
Banking aside, Al Ghurair has several business interests that include a controlling stake in the Masafi drinks company.
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