Amana Capital appoints Muhammad Rasoul as new CEO

September 06, 2021 - Multi-asset online broker Amana Capital has announced the appointment of industry veteran Muhammad Rasoul as the new Chief Executive Officer for the organisation. Muhammad takes over the reins from Ahmad Khatib, who will be stepping down for personal reasons after spearheading the organisation’s operations and growth since Amana Capital’s founding in 2010. Khatib will stay on in a strategic advisory role to ensure a seamless leadership transition and support Amana Capital in its growth.

“We are thrilled that Muhammad will be joining the Amana Capital family, and are confident that his plethora of industry experience will prove to be very valuable for the brand as we push forward with our growth trajectory,” said Karim Farra and Ziad Aboujeb, co-founders of Amana Capital. “We also want to thank Ahmad for his dedication and exemplary leadership over his 11 years that made Amana Capital the regional leader it is today.”

Muhammad Rasoul brings to Amana Capital over 25 years of experience, with a strong entrepreneurial, commercial, and operational track record in the online financial services industry. His wide range of experience included exchange-traded and OTC instruments, trading and technology systems, M&A, and financial regulations. He has advised and consulted different regulatory agencies including the CFTC, NFA, ASIC, FCA, and the FSA in Japan. Muhammad was also a co-founder of the US industry pioneer GFT Markets in 1996 before leaving to become the Chief Product Officer and Executive Vice President at NYSE-listed Gain Capital, eventually overseeing the acquisition of GFT Markets and City Index. Muhammed followed up his role at Gain Capital by joining industry-leading B2B liquidity provider Alpha, which, under his leadership, was sold to LSE-listed Playtech in 2017.

“As part of the search committee to select a new CEO, I was thoroughly impressed by Muhammad’s industry acumen and approachable persona,” said outgoing CEO Ahmad Khatib. “Although stepping down from Amana Capital as CEO – an organisation that has been my family for over a decade – was a very difficult decision, Muhammad is ideal to navigate Amana Capital through the coming years. I personally look forward to working closely with him.”

Muhammad Rasoul, who is relocating from the United States, said “It is an extremely exciting time for the industry around the globe, but none more so than in the Middle East. I want to thank the founders and Ahmad for their support and their confidence in my capabilities, and not only do I look forward to my new role at Amana Capital and meeting everyone in the organisation in person, but to calling Dubai home.”

Amana Capital is a leading specialist in online trading. It provides clients with direct access to the global financial markets, serving clients in over 70 countries across the globe. It operates offices in Dubai, London, Limassol, and Beirut.

Amana is regulated by the Dubai Financial Services Authority in the United Arab Emirates, the Financial Conduct Authority in the United Kingdom, the Cyprus Securities and Exchange Commission (CYSEC) in Europe, the Capital Markets Authority (CMA) in Lebanon, the Labuan Financial Securities Authority (LFSA) in Malaysia, and the Financial Services Commission (FSC) in Mauritius.