The Most Powerful CEOs in the Region for 2024 via Forbes Middle East List

In its fourth annual list of the region’s most powerful CEOs, Forbes Middle East showcases a selection of business leaders who have contributed to enhancing the success and achievements of the companies they lead.

To compile this year’s list, Forbes Middle East ranked CEOs based on a variety of factors, including the CEO’s achievements and performance over the past year, as well as the innovations and initiatives he or she has implemented, the size of the company he or she leads, and his or her impact on the businesses and markets he or she oversees. The ranking included CEOs of companies headquartered in the Middle East and North Africa region only.

Amin Nasser, President and CEO of Saudi Aramco, tops the list. He is followed by Sultan Al Jaber, Group CEO and Managing Director of Abu Dhabi National Oil Company (ADNOC), in second place. Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, and Saad Sherida Al Kaabi, Vice Chairman, Managing Director and CEO of Qatar Energy, come in third. They all retained their positions from last year’s list. Syed Basar Shuaib, CEO and Managing Director of International Holdings Company (IHC), moved up four spots from ninth to fifth in this year’s list.

The list of 100 business leaders this year includes 19 different nationalities, with Emiratis leading the ranking with 27 CEOs, followed by Egyptians with 21, and Saudis with 14 CEOs, together making up 62% of the total ranking. This reflects a growing trend towards localisation, with most major companies having local CEOs. The banking sector also dominates the list with 19 CEOs, followed by the real estate sector with 10 CEOs, reflecting the boom the sector has achieved over the past two years. The CEOs in the top 10 positions on the list also lead companies operating in 6 different sectors.

In their drive to drive innovation and efficiency, several of the leaders on the list have launched new businesses and projects to expand their regional footprint. This year, ASYAD Group, led by CEO Abdulrahman Al Hatmi, announced the establishment of the Hafeet Rail project, in addition to starting the management and operation of the ASYAD Container Terminal at Duqm Port in Oman. Meanwhile, Contact Financial Holding, led by CEO Saeed Zaatar, launched a new financing program to support the purchase of electric vehicles. Aluminium Bahrain (Alba), led by CEO Ali Al Baqali, launched its Eternal low-carbon product line, which contains 30% and 15% recycled aluminium, in May.

Top 10 Most Powerful CEOs in the Middle East 2024

1- Amin Hassan Al Nasser
President and Chief Executive Officer
Company: Saudi Aramco
Nationality: Saudi

2- Sultan Al Jaber
Group CEO & Managing Director
Company: Abu Dhabi National Oil Company (ADNOC)
Nationality: Emirati

3- Ahmed bin Saeed Al Maktoum
Chairman and Chief Executive Officer
Company: Emirates Airline & Group
Nationality: Emirati

4- Saad bin Shuraida Al Kaabi
Vice Chairman, Managing Director and Chief Executive Officer
Company: Qatar Energy
Nationality: Qatari

5- Mr. Basr Shoaib
CEO & Managing Director
Company: International Holding Company (IHC)
Nationality: Emirati

6- Nawaf Saud Al-Sabah
Vice Chairman and Chief Executive Officer
Company: Kuwait Petroleum Corporation
Nationality: Kuwaiti

7- Sultan Ahmed bin Salim
Chairman of the Group Board of Directors and Chief Executive Officer
Company: DP World Group
Nationality: Emirati

8- Issam Jassim Al-Saqr
Vice Chairman and Group CEO
Company: National Bank of Kuwait (NBK)
Nationality: Kuwaiti

9- Hatem Dowidar
Group CEO
Company: &e Group
Nationality: Egyptian

10- Abdullah Mubarak Al Khalifa
Group CEO
Company: QNB Group
Nationality: Qatari