“Opportunities exist for entrepreneurs in any economic environment. You must remain alert, seize chances as they appear, and work diligently with passion to fulfil your dreams.”- Abdul Aziz Al Ghurair.
Source: Al Ghurair
The business landscape of the Middle East is witnessing significant growth, driven by strategic investments, economic diversification, and the adoption of innovative technologies in countries like the UAE and Saudi Arabia. Abdulla Al Ghurair Group, also known as Al Ghurair Investments, is a pioneering innovative business in this revolution of the business landscape. Abdul Aziz Al Ghurair, an Emirati businessman and philanthropist, chairs the group and often reflects on his family’s legacy and their substantial involvement in the financial and business sectors.
Early Life of Abdul Aziz Al Ghurair
Born in Dubai in 1954, billionaire businessman Abdul is the son of Abdulla Al Ghurair, co-founder of Mashreq Bank. Abdul pursued his bachelor’s degree in industrial engineering from California Polytechnic State University. His early exposure to his family’s entrepreneurial legacy developed an ambition to lead with innovation.
History of Al Ghurair Group
Source: UAE Stories
From its modest beginnings as a trading business in Dubai more than six decades ago, today, Al Ghurair is a highly regarded regional business driven by community development. In 1960, Ahmad Al Ghurair founded Al Ghurair Group to operate the family’s business interests in various sectors. His son Saif was appointed as chairman of the group, and he held that position till the 1990s. The group was recognised for building the UAE’s first cement factory, flour mill, and sugar refinery.
In 1967, the Bank of Oman was founded by the group in Dubai. With its quick adaptation to services and assets of over DH 3 billion by 1978, the bank became the largest private bank in the UAE by the 1980s. In 1994, the bank changed its name to Mashreq Bank. An aluminium extrusion plant, under the name Gulf Extrusions, was opened by the group in 1979. In 1981, the group also established Gulf’s first shopping mall, Al Ghurair Centre.
In the 1990s, both brothers, Saif Ahmad and Abdulla Al Ghurair, decided to split the group, thus Saif Al Ghurair Group and Abdulla Al Ghurair Group were established. Abdulla Al Ghurair Group, also known as Al Ghurair Investment, focused on the family’s finance, food and construction businesses. While Saif Al Ghurair Group, also known as Al Ghurair Group, operated manufacturing, petrochemicals, aluminium and steel, and packaging lines of business.
Abdul Aziz Al Ghurair presides over the Group.
Source: Gulf News
In 1977, Abdul started working at Mashreq, a leading bank of the UAE, where he took charge of establishing branches in other countries like New York, India, Egypt, and many more. Till 1988, Abdul worked at the bank in various operations, establishing the bank’s credibility and presence across nations.
In 1989, Abdul was appointed as Executive Director of Mashreq and then as CEO of the bank in 1990. Serving as a CEO for nearly 30 years, Abdul transformed the bank from a small local entity into a leading, customer-centric financial institution renowned for its innovative products and services in the Middle East, like ATMs, debit and credit cards, travellers’ cheques, and many more.
Abdul sat on the Board of Directors of major companies like Emaar, Dubai Investments, MasterCard, Dubai Chamber of Commerce and Industry, and many more prestigious institutes. In 2006, he was appointed as chairman of the Arab Business Angels Network, promoting and supporting entrepreneurship and innovation. In 2007, he was elected as the speaker of the UAE’s Federal National Council for a tenure of four years.
In 2008, Abdul became a part of the official UAE delegation to visit the Vatican and meet Pope Benedict XVI. He became a member of the Board of Directors of Abdulla Al Ghurair Group of Companies, which is recognised as one of the biggest and most successful business groups in the UAE and the Middle East region, with its operations spanning more than 20 countries. In 2012, he was appointed as Chairman of the UAE Banking Federation.
Abdul became chairman of the Abdulla Al Ghurair Foundation, founded in 2015 to empower leaders, upskill careers, and elevate livelihoods through education. With Abdul’s guidance, the foundation is recognised as a key contributor to progress in the Arab region by prioritising transparency, accountability, and measurable impacts.
Today, Abdul has been expanding his family’s business portfolio in various sectors, like real estate, cement, contracting, and food.
Abdul Aziz’s Board Memberships
- Chairman of the Board of Directors of Mashreq Bank.
- Chairman of Abdulla Al Ghurair Group.
- Chairman of Masafi Mineral Water Company.
- Chairman of Abdulla Al Ghurair Foundation for Education.
- Chairman of the Executive Committee of Al Ghurair Investment.
- Governing Council Founding Partner of the Global Muslim Philanthropy Fund for Children.
- Chairman of the UAE Banking Federation.
- Chairman of the Hattan Group of companies.
- Founder of Abdul Aziz Al Ghurair Refugee Education Fund.
- Member of the Board and Global Leadership Council for Generation Unlimited.
- Chairman of Masafi Company, Oman Insurance, President of FBN GCC, a non-profit international network.
Abdul Aziz as a Philanthropist
Source: Al Ghurair Foundation
In 2015, Abdul pledged one-third of his group’s assets to the Abdulla Al Ghurair Foundation for Education. Abdul also supports organisations like UNICEF, UNESCO, and the UAE Disabled Sports Federation. In 2018, he created a 120 million AED fund to support 20,000 refugees and vulnerable youth to access secondary, vocational and tertiary education.
He is an anchor donor of the Global Muslim Philanthropy Fund for Children, a joint initiative of UNICEF and the Islamic Development Bank. Abdul launched the Abdulla Al Ghurair Hub for accelerating digital teaching and learning. He has also established the Abdul Aziz Charitable and Humanitarian Foundation for helping the less privileged muslims in the society.
Awards and Recognitions
- In 2008, Abdul Aziz received the Lifetime Achievement Award from Euromoney and Banker Middle East.
- Abdul Aziz Al Ghurair was featured by Forbes in the Middle East’s Top 100 Arab Businessmen.
- In 2014, Abdul Aziz received the Innovator of the Year Award at the Gulf Business Industry Awards.
- In 2016, Mashreq was awarded with Arab Banker of the Year by the Union of Arab Banks.
- In 2016 and 2017, in the Gulf Business Industry Awards, Abdul Aziz was honoured with Banking Business Leader of the Year.
- Mashreq was recognised by the Euromoney Awards for Excellence 2025 with two distinguished accolades.
- In 2025, Abdul Aziz was recognised in the TIME 100 list for his philanthropic work.
Future Plans
Abdul is recognised for continuing his role in providing substantial views to the UAE’s financial and banking industry. He continues to focus on strategic philanthropy, especially in education and refugee support. Abdul is also seeking partnerships with educational institutions and NGOs to maximise the impact of his philanthropic work. Currently, he is also addressing the disconnect between university output and the job market needs in the Arab region, and is working to bridge this skill gap. He is also interested in exploring technological approaches for expanding access to high-quality education.
Conclusion
Abdul Aziz Al Ghurair’s journey from an engineering graduate to a billionaire banker, business leader, political figure, and philanthropist illustrates the true power of innovation and compassion. In a region grappling with youth unemployment and educational inequality, his initiatives offer a beacon of hope. By bridging the gap between education and employment, Abdul Aziz has become a crucial figure in shaping a prosperous future for the Middle East. His legacy will continue to influence lives and uplift communities for generations to come.
