The highest placed UAE entry comes in at number 12 thanks to the huge Al Ghurair family. The family legacy can be traced back to Ahmad Al Ghurair who founded Al Ghurair Group in 1960. The family name has been a fixture within the UAE business community ever since.
Ahmad Al Ghurair passed on his legacy to his sons Saif, Abdulla, Majid, Marwan and Jomaa. Until the 1990s Al Ghurair Group was led by Saif Ahmad Al Ghurair. This corporation was formed in 1960. In the 1990s, Saif Ahmad Al Ghurair and Abdulla Al Ghurair embarked upon creating two unique yet complementing diversified industrial groups. This decision led to the creation of Saif Ahmad Al Ghurair Group (now the Al Ghurair Group) and Abdulla Al Ghurair Group.
Abdul Aziz Al Ghurair is CEO of Mashreq bank, which he started from scratch with $1.6m of capital during the oil boom in the 1960s, and which is the country’s fourth-largest by assets.
Bukhamseen Group was launched half a century ago as the vision of one man, Jawad Ahmed Bukhamseen. He founded the Jawad Bukhamseen Commercial Corporation in 1957, and under his able leadership the company grew and diversified, ultimately evolving in status from a small family business to a fully-fledged institution with interests across several economic sectors. As well as a primary interest in financial investment and banking, the firm has concerns in hospitality, travel and tourism, industrial production, media and communication work, consultancy services in urban planning, civil engineering, and major development projects in Kuwait.
Today, Jawad’s sons Emad, Osama, Anwar and Raed all occupy senior management positions within the company. Bukhamseen Holding’s Kuwait National Cinema Company also established Al Sharqia Cinema, the first movie theatre in Kuwait, in 1954.