EDB chief Ahmed Al Naqbi honored as ‘Best CEO’ by International Finance

By Amirtha P S, Desk Reporter
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Ahmed Mohamed Al Naqbi
Mr. Ahmed Mohamed Al Naqbi, Chief Executive Officer of the Emirates Development Bank.

The International Finance magazine has recognized Mr. Ahmed Mohamed Al Naqbi, Chief Executive Officer of the Emirates Development Bank (EDB), a key financial enabler in the UAE, with the “Best CEO for Banking Transformation in the UAE for 2021” title.

The International Finance Annual Awards honor corporate and professional excellence and recognize individuals who had a positive impact on the performance of their organizations by developing innovative products or services.

As the CEO of EDB, Mr. Al Naqbi led the operational launch of the new EDB strategy, which includes an allocation of $8.17 billion to finance more than 13,500 small and medium enterprises (SME), startups and corporates in priority sectors over the next decade.

Mr. Al Naqbi also spearheaded the launch of two EDB initiatives with a total value of $2.72 billion as part of the UAE’s “Projects of the 50” campaign. The first initiative allocated $1.36 billion to support UAE National entrepreneurship and innovation. The second initiative allocated another $1.36 billion to accelerate industrial development and the adoption of advanced technology in the UAE.

Commenting on the award, Mr. Al Naqbi said, “I am deeply honored to receive the Best CEO award from the highly respected International Finance Magazine. This award is a recognition of the entire team at EDB, particularly the trust and direction of the bank’s Board of Directors. The new strategic roadmap and initiatives undertaken by us are part of our long-term vision to offer world-class products and first-class customer experience across our operations.”

Dr. Sultan bin in Ahmed Al Jaber, Minister of Industry and Advanced Technology and the Chairman of EDB, said, “On behalf of the EDB’s Board of Directors and the team, I congratulate Ahmed Al Naqbi for this prestigious award, which reinforces his vital role in promoting the bank’s mandate of supporting the UAE’s economic diversification and boosting the country’s non-oil GDP.”

Mr. Al Naqbi also played a key role in launching the EDB Business Banking App to support the SMEs operating within the UAE in September 2021. The app offers SMEs access to 24×7 secure, convenient, on-the-go digital banking services.

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