Two former Amana Capital executives, after parting from the broker recently, have launched a new venture, Mahfoom Technologies, that is aimed to provide financial literacy in the Arab world.
Former Top Amana Executives
The new company has been co-founded by the former CEO of Amana, Ahmad Khatib, and Ziad Melhem, who was the Chief Business Development Officer of the retail broker. Both of them were long-term Amana employees and have spent significant time in their careers at the Dubai-headquartered broker.
Khatib stepped down as Amana CEO last October after heading the company for 12 long years. He is an extremely well-experienced financial industry executive with more than two decades of experience.
He is still a sitting advisor to the board of 180 Capital, which is the holding company of Amana Capital.
Additionally, Melhem spent eight years of his career at Amana, joining the broker in December 2013 as the Chief Marketing Officer. In addition, he has co-founded and headed GoldenHill, which does consultancy and leadership services for its clients in Lebanon.
At the time of his exit from Amana last month, he stated that he is going to pursue some personal interests.
“Amana Capital has been my home for the best part of a decade. Therefore, it was not an easy decision for me to make; however, my family and I have decided that this was an opportune time to pursue other passions,” Melhem said at the time.
However, the new venture is yet to make an official debut and has not revealed the products and services it is going to provide to its potential client base. But, it is clear that it will work towards educating Arab-speaking traders.
The company is based in Dubai and has already established an office in the Innovation Hub of the Dubai International Financial Centre (DIFC).
