The insurance industry in Libya is going through a transition period but the country’s oil wealth is bound to drive investments in almost every sector of the economy. “Al Qafela builds on its current and future clients with expertise, high quality insurers and reinsurers and offers tailor-made services and products,” says Abdurazag I. Almegerab, Chief Executive Officer of Al Qafela Insurance Company. Almegerab has 41 years of management and insurance experience and he says that his new plans will be aimed at new opportunities and new ventures amidst the expected economic boom of his country. He is methodical in his work and is fully aware of the current market scenario as he tries to get ahead of competition. Almegerab holds a masters degree in insurance from West Hartford, Connecticut, USA.

The insurance industry landscape that has emerged from the turmoil of the financial crisis is different from what it used to be. Insurance and Reinsurance companies are back to the basics of writing business for profit. (Re) Insurers can no longer absorb underwriting losses from investment income.

ITS is a leading international Islamic Banking solution provider that lives and breathes Islamic values and culture. The company has successfully combined this with its technology prowess to produce ‘ETHIX’, a next generation solution portfolio offering Islamic finance institutions Sharia-compliant products and a range of pre-defined business models including Islamic finance, Islamic investment, trading and delivery channels.

Walid Jishi, Chairman and Chief Executive Officer of Arab Loss predicted the chronic need for native loss adjusters in the Arab World who understand the political and cultural business environment to provide the service that was dominated by foreign adjusting practices.

Outspoken and prominent in the Islamic Banking and insurance industry, Hussein Mohammed Salem Al Meeza started his career in 1975 when he joined the world’s first fully fledged Islamic Bank, Dubai Islamic Bank.

Sheikh Saleh Abdullah Kamel is a Saudi businessman, chairman and founder of the Dallah al Baraka Group (DBG). Chairman of ABG and he is also the chairman of the General Council for Islamic Banks.

Firas El Azem is an insurance expert who returned to Syria early 2006 after spending all his professional career outside the country. Although, he started his career in the banking sector, he quickly discovered re-insurance as the right career for him.

Younis Jamal Al Sayed, CEO of Takaful International Company began his career in 1981 and gradually learnt the various aspects of the insurance industry. ARIG had a significant bearing on his career portfolio as he successfully rose through the management hierarchy.

Mohamed Hussain, CEO of Ithmaar Bank and Member of the Board has repeatedly proved himself a valuable asset, and has lent his considerable experience and great expertise to the bank. He helped the bank steer through the global financial crisis and has contributed, in a big way, towards defining the bank’s future direction.

As one of the newest comers to the Financial Serves market in the kingdom, Khalijia Invest launched its operations during the World Islamic Banking Conference (WIBC) with its corporate slogan, “Big opportunities in the small details”.

The Middle East is going through cultural and economic changes and nowhere is that more evident than in the skyscraper wonderland of Doha, Qatar.

As the global economy ails from an unprecedented financial crisis, the Middle East is generally believed to emerge stronger than ever. From the financial disaster an important lesson has been learnt with regards to the effects of globalization. In an exclusive interview with BUSINESS LIFE, Abdul Kader Askalan, Chief Executive Officer and Member of the Board of Oman Arab Bank (OAM), discusses the global financial crisis and what it means for Oman.