ADGM, the international financial center of the UAE capital, today announced the appointment of Rashed Abdulkarim Al Balooshi as Chief Executive Officer of ADGM’s Registration Authority (RA), effective immediately.
This appointment reflects ADGM’s ongoing commitment to strengthening its leadership team and accelerating the execution of its strategic mandate, in alignment with Abu Dhabi’s long-term economic vision, according to a statement.
Rashed Al Balooshi will take over the role from Hamad Al Mazrouei, who has embarked on a new endeavor within Abu Dhabi.
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.
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Extensive experience
Al Balooshi brings with him a wealth of experience, with a career spanning over 24 years in the financial and regulatory sectors, including a distinguished tenure as CEO of the Abu Dhabi Securities Exchange (ADX) and Under Secretary of the Abu Dhabi Department of Economic Development (ADDED).
Additionally, Al Balooshi serves on several boards and committees at the local and federal levels. 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.
Commenting on this appointment, 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.” H.E. Al Zaabi added: “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 endeavor.”
This appointment marks another significant step forward in ADGM’s journey and continuity to becoming one of the world’s most dynamic and business-friendly international financial centers.
