Bio
Born: July 10, 1954 (age 61), Dubai, United Arab Emirates
Parents: Abdulla Al Ghurair
Education: California Polytechnic State University
Organization founded: Mashreq
Siblings: Essa Ghurair
Grandparent: Ahmad Al Ghurair
NET WORTH: $1.8 BILLION
Abdul Aziz Al Ghurair was born on July 10th, 1954 (age 62) in the UAE, is a billionaire and currently the CEO of the publicly traded Mashreq Bank. Since 2011, his net worth was estimated to be $2.7 billion, courtesy of Forbes which makes his the 420th richest people in the world.
Mr. Ghurair is the current Chief Executive Officer of Mashreq Bank, a leading U.A.E commercial bank founded by his uncle Majed Ahmed AlGhurair during the Gulf’s first oil boom in the early 1960’s.
Although banking seemed to be the best way to invest in that era, however, his family shifted their attention and resources in real estate, cement, residential care, contracting and petrochemicals. His brother, Essa Ghurair headed the food division holdings including the Middle East’s second-largest flour mill and ubiquitous Masafi mineral water. Al Ghurair is also a chairman of the Arab Business Angels Network, an organisation who’s main objective is to match angel investment funding with startups by Arab entrepreneurs.
Mr. Ghuraur is also a former Speaker of the Federal National Council (FNC) in the U.A.E from 2007 to 2011.
As the CEO of Mashreq Group, the bank’s assets have risen to AED 72.6 billion as of June 2007—a 50.3 percent increase from 2006, just under 17 years.
Al Ghurair is also an industrial engineer and acquired an honors degree from the Polytechnic State University, California. In 1977, he joined Mashreq as he operated various capacities till 1998 and led the bank’s international operation, setting up branches in Egypt, New York, London, Bahrain, Qatar India and Pakistan
Mr. Ghurair also chaired his investment corporation known as the Al Ghurair LLC, which is a diverse industrial cooperation with the main focus on Foods, Commodities, Construction and Properties as well as Energy, Printing, Education, and Retail. As mentioned earlier, Al Ghurair is also on the Board of Directors of the Dubai International Financial Centre, Emirates Foundation and Dubai Economic Council.
Mr. Ghurauir is a current activist empowering unfortunate kids through several charitable organisations and initiatives in both local and international arenas like UNICEF, UNESCO, Planet Finance and the UAE Disables Sports Federation.
Due to his numerous contributions towards society, has been honoured with a special Lifetime Achievement Award, at the CEO Middle East Awards.
