Board of Directors

Sheikh Omar Saqr Khaled Al Qasimi – Chairman

Independent, Non-executive

As the Executive Manager of the investment and development office of Ras Al Khaimah, Mr. Alqasimi has built an impressive 14-year career in financial analysis, procurement, investment, and credit rating. His diverse range of experiences has equipped him with a valuable skill set that enables him to effectively handle rating-related issues and strengthen government relations.

Ahmed Essa Al Naeem – Vice Chairman

Non-independent, Non-executive

With almost 4 decades of experience, Mr. Ahmed has successfully headed six different companies, including the Ras Al Khaimah Electricity and Water Authority, RAK National Oil Company, and RAK Gas, where he served as the General Manager.

In addition to his impressive corporate achievements, he has also held key positions in various ministries, the Ras Al Khaimah Municipal Council, and the Ras Al Khaimah Chamber of Commerce and Industry and Agriculture.

DONGJUN (DJ) CHOI – Board member 

Non-independent, Non-executive

DONGJUN (DJ) CHOI joined RAKBANK in March of 2022 as Chief Customer Officer and is leading the Customer & Strategic Analytics function, which includes Group Strategy, Digital Transformation & Enterprise Program Management Office, Center of Excellence (CoE) for Advanced Analytics, Brand & Marketing, and Customer Excellence & Protection functions.

DJ has a diverse portfolio of experiences across financial services. In his 28+ years of international experience, DJ has managed teams in Asia-Pacific, Greater China, UK, Middle East and Africa, and the US. He joins us from AXA Asia where he was the Chief Strategy and Customer Officer of Asia & Chairman of China, accountable for all business functions and driving the growth of AXA’s strategic region. In his previous roles, DJ has held executive positions of MD Strategic Analytics CoE at Barclays UK, Chief Marketing Officer for International Markets at Cigna Corporation, and senior executive positions at Standard Chartered Bank in Dubai, Hong Kong, and Singapore.

DJ holds a Master of Business Administration degree from Northwestern University.

Safwan Ghaleb – Board member

Non-independent, Non-executive

With over 23 years of industry experience, Mr. Ghaleb is a highly accomplished professional, having spent 20 years honing his skills in the Information Technology field and the past 3 years focused on Risk Management.

He possesses extensive knowledge in IT management, infrastructure, services delivery, and operations, and is also well-versed in information security, operational risk, and business continuity.

Recognising his exceptional capabilities, the RAKBANK – The Group – management has nominated Mr. Ghaleb to join the Risk Management department as a Senior Executive Vice President & Deputy Chief Risk Officer.

Jason Carey – Chief Distribution Officer

Jason brings over 20 years of insurance industry experience and has worked in a number of roles across account management, sales strategy, new business development, claims handling and risk consultancy services in the United States, Bermuda and the Middle East: servicing clients across various industry segments. Leading the overall direction of Sales and Market Management operations for the Southern Emirates across all business lines for RAKINSURANCE, Jason is responsible for driving and achieving new business growth through the development of new and existing distribution channels, in addition to having accountability for account retention through responsive client servicing and service delivery across the business.

Jason holds an MBA in International Business and Marketing.

Aarefa Saleh Al Falahi – Board member

Independent, Non-executive

With Aarefa’s exceptional commercial and visual awareness, she is dedicated to driving sales and managing profit and loss with a customer-centric approach.

In addition to her impressive corporate achievements, she holds board positions in some of the most reputable organisations in the UAE.

Furthermore, she is actively engaged in social responsibility initiatives and is a highly respected figure in the community.

Futooh Al Zayani – Board member

Independent, Non-executive

Ms. Al Zayani has over 40 years of experience in executive management, underwriting and business development in the regional and international insurance and re-insurance industry. This includes leading roles at regulatory & development authorities in the GCC region.

Mukhtar Ahmad – Financial Controller

Mukhtar has over 10 years experience in internal and external audit along with a variety of finance business partnering roles across insurance, Reinsurance, Life Insurance and with Big four consulting firms in Pakistan, Bahrain and the UAE.

Mukhtar is a member of Institute of Public Accountants (IPA) MIPA AFA (Australia) and Completed BSC (Honours) In Applied Accounting from Oxford Brooks University (UK). Mukhtar is specialised in accounting and reporting and holding an Advanced Diploma in Accounting & Business from Association of Chartered Certified Accountants UK.

Mukhtar oversees accounting and reporting of RAK Insurance with a key objective of Management reporting and make sure that all the reportings are done in line with IFRS and local regulations. Ahmad is also working as a project Manager for the IFRS 17 implementation.

Bernhard Schluep – Board member

Independent, Non-executive

Mr. Schluep is an Independent Non-Executive Director & Business Transformation expert.

He brings a strong 30-year track record in Insurance and banking as a sought-after international corporate leader and crisis manager, working on the ground in Europe, the Middle East, Asia, Africa and the Americas.

The Management Team

Sanjeev Badyal – Chief Executive Officer

With an extensive career spanning over 38 years in insurance and reinsurance, Sanjeev is a highly regarded industry professional. He is well-known for his entrepreneurial mindset, keen market insights, customer-centric approach, and strong commitment to corporate governance.

Sanjeev excels in designing and implementing comprehensive learning and development programs for employees. He has conducted technical workshops for underwriters both regionally and internationally, showcasing his expertise and dedication to skill enhancement.
Before joining RAKINSURANCE, Sanjeev held strategic leadership positions where he successfully led insurance and reinsurance operations in the Middle East. Notably, he played a key role in underwriting significant construction projects in the UAE and Saudi Arabia.

Sanjeev holds a Bachelor’s degree in Commerce and is an esteemed Associate of the Insurance Institute of India. His wealth of experience and proficiency make him an invaluable asset to RAKINSURANCE, and his contributions continue to drive the company’s success in the insurance industry.

Amol Shah – Chief Transformation Officer

As a seasoned professional, Amol Shah, Director of Bancassurance & RAKselect at RAKBANK brings extensive expertise to the insurance and financial sectors. Reporting to the Managing Director of Personal Banking, he has played a key role in ensuring the financial health, performance, and customer success of the insurance business and RAKselect segment.

Through his leadership, Amol transformed the insurance department into the largest, innovative, and high-growth Bancassurance business across Life and General Insurance. His notable achievements include spearheading a strategic Preferred Partnership for Life business, forging commercial negotiations and innovative product development, even amidst the challenges of the COVID-19 pandemic.

With a remarkable track record, Amol has been recognized for his contributions in the insurance industry and have presented thought leadership at various esteemed conferences and summits. Throughout his career, Amol has held significant roles in prominent institutions, contributing to the growth and success of Bancassurance across different regions. With a Bachelor of Commerce degree and accelerated leadership development from the Indian Institute of Management, Amol is well-equipped to lead in complex and diverse environments.

Shehreyar Azim – Chief Financial Officer

Sherry, affectionately referred to by his colleagues, boasts an impressive 14-year track record in internal and external audit, complemented by diverse finance business partnering roles within the banking and insurance sectors across the UK, Bahrain, and the UAE.

As a qualified CA with a renowned Big Four multinational professional service firm in London, Sherry brings a wealth of expertise to his role, where he takes charge of overseeing the entirety of RAKINSURANCE’s financial operations.

Having earned his degree from the prestigious London School of Economics and achieved the distinction of being an Associate CA at the Institute of Chartered Accountants of Scotland, Sherry is equipped with the knowledge and skills to drive financial excellence and success within the organization.

Claude Zoghbi – Chief Commercial Officer

With a remarkable track record spanning over 21 years in the insurance industry throughout the Middle East, Claude spearheads the commercial distribution efforts of RAKINSURANCE. His primary focus is on optimizing portfolio performance and ensuring the overall profitability of the business.

With extensive expertise in product development and market dynamics, Claude offers valuable technical underwriting advice and strategic insurance solutions to guide and influence decision-making processes. He plays a vital role in the business development by formulating and executing distribution strategies while upholding robust policies, procedures, and processes that comply with regulatory standards.

Claude’s educational background includes a degree in Business Administration with a major in Accounting and Finance from Lebanese University. His comprehensive knowledge and hands-on experience make him an invaluable asset to RAKINSURANCE and a trusted leader in the insurance industry.