The United Arab Emirates’s global financial centre – ADGM has appointed Rashed Abdulkarim Al Balooshi as Chief Executive Officer of its Registration Authority, effective immediately.

Al Balooshi succeeds Hamad Al Mazrouei, who started a new role within Abu Dhabi, the authority stated. 

Al Balooshi brings over 25 years of leadership experience to his new role in the financial and regulatory sectors of the region. He formerly served Abu Dhabi Securities Exchange (ADX) as the CEO and Vice President for nearly two decades, and most recently served Undersecretary

Abu Dhabi Department of Economic Development as Under Secretary for over six years now.

He also served on several boards and committees at the local and federal levels including, the Khalifa Fund. 

“In his new capacity, Al Balooshi will lead the Registration Authority at ADGM, which is responsible for the registration, licensing, and supervision of non-financial businesses within ADGM. His mandate includes enhancing operational efficiency, promoting the ease of doing business, and ensuring a progressive, transparent, and business-friendly regulatory framework in line with international best practices.

His expertise across multiple sectors will play a pivotal role in driving the Registration Authority to new heights and reinforcing ADGM’s position as a leading international financial hub,” ADGM added. 

Welcoming Al Balooshi on the board, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM, said, “We are pleased to welcome Rashed Al Balooshi to ADGM’s leadership team. His track record and deep understanding of the business and regulatory landscape will be instrumental in driving the next phase of ADGM’s growth.

His Excellency also extended wishes to the outgoing CEO Al Mazrouei, “We extend our sincere gratitude to Hamad Al Mazrouei for his valuable contributions and leadership during his tenure and wish him continued success in his new endeavour.”

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This CEO transition at ADGM marks a significant shift in its journey to becoming world’s most dynamic and business friendly international financial centres.