Amnah Ajmal takes pride in having a career spanning over two decades, where she has been fortunate to work with some of the leading banking and finance brands in the world. She spent the first decade of her illustrious career in banking; the second, in payments and technology.
Currently, she serves as the executive vice president for market development at Mastercard Eastern Europe, Middle East, and Africa (EEMEA), a milestone she has achieved thanks to her relentless efforts to drive digital and cultural transformation by innovating consumer experiences across several markets in Europe, Middle East, Asia and North America.
She hit her first career breakthrough in her 20s, when she was entrusted with a huge leadership role at Citigroup in Europe.
“This was the type of role executives normally get when they’re in their forties. I was based in Poland, where I didn’t speak the language — in addition to looking very different from most people there. Instead of force-fitting myself into a mold designed by others, I decided to stay true to myself, embrace this difference, and make it work for me,” she says in an exclusive interview with Economy Middle East.
It is pivotal moments like these that have shaped her leadership approach. Beyond professional milestones, being a mother has also influenced her as a leader.
“Motherhood has made me a better human and a better leader. It has given me a new perspective and motivated me to appreciate the importance of curiosity. I think parenting and leadership have so many parallels,” Ajmal shares.
“While I have great learnings from a business standpoint, what I remember most is the impact on people. Fifteen years into my career journey, I realized that if I can design a life for myself and achieve my goals despite all odds, I am in a privileged position of leadership where I can help others do the same. I’m glad I can play a tiny role in helping make this world a more equitable place where women can thrive without any biases and judgments,” she adds.
In her current position at Mastercard, Ajmal is looking after over 30 segments across 80 countries in EEMEA.
She says: “I see leadership as a privilege, and I try to foster a stress-free and fun working environment where everyone can bring their best without fear of speaking up. Over the years, I have recognized the power of open communication, respectful interaction, authenticity, humility, empathy, and compassion. I have also learned the importance of showing my vulnerability — I now know it doesn’t make me any less of a leader. In addition, I believe that a sense of humor is largely underrated in leadership. For me, humor plays a key role in creating a friendly workplace.”
Rewriting the leadership playbook
For Ajmal, there are three main driving forces that will likely redefine the leadership playbook in the near future — the first of which is the unprecedented speed of technological advancements.
Leadership in finance and other industries will be increasingly shaped by technology, especially artificial intelligence (AI). One of the main roles of leaders will be to ensure that the human factor behind technology is not neglected.
“Leaders will have to be more mindful of the ethical aspects of technology as well as of the biases that exist in our minds and that technology is inclined to replicate because AI can scale anything, including inequality. These biases need to be eliminated to generate objective outputs. Technology, if used in the right way, has the power to make our world more inclusive, more equal, and more balanced,” she states.
The second driving force is the increase of Gen Z in the workforce, as organizations recruit more of these ‘digital natives’. Ajmal describes these professionals as often more purpose-driven, more impatient, and more motivated by instant gratification than older generations.
“Here’s where the old leadership approach just won’t cut it. We need to learn how to work with Gen Z efficiently and how to make the most of their strengths,” she explains.
The third driving force is gender diversity. According to the Mastercard Economic Outlook 2025, women’s representation in the workforce is growing across the board — and it is called the SHEconomy. This trend is particularly prominent in Saudi Arabia, where women’s participation rose from 18 percent in 2017 to 34.5 percent in 2023. This marked increase is mainly due to the easing of social and other restrictions in the kingdom in recent years. It clearly shows the positive impact of the ambitious Vision 2030, which seeks to build a thriving economy where everyone has the opportunity to succeed.
“These driving forces are pushing us to come up with new ways of leadership. A part of it is striking a balance between courage and compassion. Agility, curiosity, pace of execution, and empathy are also growing in importance. We need leaders who would challenge the status quo so that the next generations don’t have to go through the same struggles that we did,” she enthuses.
Rising above challenges
According to Statista, the share of women in global C-suite roles in financial services rose gradually from 2012 to 2023, reaching 18.4 percent by the end of the said period. This steady growth is expected to continue, with predictions that the figure will hit 21.8 percent by 2031.
As Ajmal emphasizes, every female leader’s journey is different. The challenges that such leaders face are often a combination of where they are, which sector they’re in, and who is around them. It’s also influenced by the exposure they’ve had to an environment that encourages openness, curiosity, and support, rather than one that reinforces biases.
“It can be hard work for women navigating inflexible, unhelpful workplaces holding on to old myths. But through my own personal experiences, I have seen the value of confidence in oneself, courage to do brave things, humility, and perseverance to continue along what is sometimes the best path, but not the easiest road,” the Mastercard executive notes.
“Over the years I have learned the importance of empathy, which plays a critical role for leadership. I often take informed risks and tackle challenges outside my comfort zone because this can be one of the most powerful ways to drive positive change and transform perceptions. As a female leader, I’m very aware of how I role model leadership and how what I do can impact the next generation of women who lead. And I know that by surrounding myself with people smarter than me, I’m the one benefiting. I ask questions and I listen a lot — because this is the process that generates learning, knowledge, perspective and context. Sometimes, it’s also the catalyst for unlearning — making way for making progress,” she adds.
As a mother, Ajmal also mentions that balancing a career and motherhood is a challenge; something that’s much harder than she imagined.
“But because I see every challenge as an opportunity, I appreciate the positive impact becoming a mother has had on my work, my approach, and my leadership. It has made me realize the truth behind the saying ‘Done is better than perfect.’ It has also made me a master of multitasking and an expert at time management. In addition, I learned to set my priorities and focus on the things that matter,” she shares.
Fostering inclusivity and cross-cultural collaboration
Fostering an inclusive culture is critical for the people at Mastercard. And it’s one of the reasons why Ajmal feels “at home” at the company. “Diversity is not really something we feel obliged to pursue — it comes naturally to us, it’s just the way we work,” she says.
In her team alone, 60 percent are women. Three-quarters are Millennials and Gen Z. Together, they have 12 to 15 countries represented at any given time. They also come from different cultures and backgrounds and specialize in different verticals. This gives them an amazing diversity of experience that they can build on to drive innovation and success.
“We are reaping great benefits from implementing policies that promote diversity and inclusion, ensuring equal opportunities for all employees. This includes providing flexible working arrangements and developing mentorship and sponsorship programs that specifically support women. We also make leadership training and development initiatives accessible to women at all career stages,” she remarks.
Ajmal herself is a firm believer of inclusivity. She acknowledges the need to address unconscious biases, especially those that may hinder women’s career advancement.
She says: “Providing equal access to opportunities, recognizing the unique strengths women bring to the table, and creating a safe space for women to voice their ideas and concerns are all essential parts of my leadership approach. I do my best to contribute to creating a supportive environment where women feel valued and empowered.”
As for cross-cultural collaboration, the leadership at Mastercard realize that “it’s very difficult — and not very effective — to drive innovation alone.” For these reasons, they put great emphasis on bringing different parts of the organization together to harness the full potential of their diverse talent pool.
In addition to building cross-cultural synergies in their day-to-day work, Mastercard hosts an annual event called Innovation Week, which takes place in each of the regions the organization operates. The forum provides people with an ideal platform to discover new ideas, hone valuable skills, forge connections across business units, and showcase the power of what’s possible.
For a few days every year, they put on their thinking caps, brainstorm their ideas, build on them, and test them to see if they can work in the real world. They also share expertise and participate in immersive skill-building activities.
Keeping things modern yet human
As a global technology company in the payments industry, Mastercard’s mission is to lead the digital transformation. Through technology, Mastercard enables organizations across sectors — including fintech companies, telcos, retailers and e-tailers, mobility platforms, food delivery companies and travel aggregators — to get closer to their customers, offer more diverse services, and digitize supply chains. In collaboration with industry partners, Mastercard has delivered many of the payment technologies that made digitization possible today — from contactless cards to tokenization and cybersecurity.
Additionally, Mastercard continues to tap into new technologies to develop new value propositions that are personalized and contextual. The goal is to shape the future of commerce, solve real problems for businesses, and make people’s lives easier.
For example, the company is leveraging AI in their cybersecurity solutions and fraud detection work. This transformative technology allows them to protect the over 125 billion transactions they process on their network every year. In fact, their AI-powered solutions have saved $35 billion in fraud over the past three years. Meanwhile, Mastercard’s AI-driven insights help clients make better decisions, uncover a whole new target customer segments, solve business challenges, optimize processes, and drive efficiencies and cost savings.
Amid all these achievements, Mastercard understands the importance of having the right guardrails in place.
“While AI can certainly enhance problem-solving in various fields, there are many areas where human ingenuity, creativity and collaboration can effectively address challenges without it,” Ajmal says.
“Technology is a powerful force for good, but it depends on us how we deploy it and use it. For me, technology is an enabler, and it helps us connect more on a human level as well. For example, I have learned to delegate mundane tasks to technology to be more efficient and spend the time I save making human connections,” she adds.
“I have to admit I wasn’t always like this. However, the COVID-19 pandemic was a huge eye opener for me. Before, I thought remote working would place a barrier between me and my team, and we wouldn’t be able to collaborate efficiently without being in the same room. But once I had no other choice, working from home has made me realize that technology can also remove barriers between people. Rapid technological advancements are also motivating me to stay up to date with my knowledge through continuous learning so that I remain relevant,” she further reveals.
Beyond finance
When asked about which industries outside of financial services could emerge as key growth sectors in 2025, Ajmal cites technology, especially AI, as a sector that is progressing in leaps and bounds. It’s becoming more intuitive, interactive, immersive, and embedded in people’s daily lives, with significant implications across all sectors.
Advancements in three areas — AI, computational power, and data technology — are converging to propel this trend forward as they amplify each other’s impact. AI enhances data analysis and decision-making, while computational power enables faster AI training and inference. Spatial computing benefits from AI-driven object recognition, and data becomes more valuable as it feeds into AI algorithms.
According to Ajmal, e-commerce is also going from strength to strength, with retail brands increasingly realizing that having a brick-and-mortar store today is simply not enough. Daily e-commerce transactions in the Middle East and North Africa (MENA) have risen by an astonishing 80 percent since 2020.
“I believe a more unified regulatory framework across the region will facilitate smoother e-commerce operations and pave the way for further growth of the industry,” she states.
Tourism is another promising sector, especially in the Middle East, which was the first region to surpass pre-pandemic volumes in 2023, recording arrivals 22 percent above 2019 levels. Last year, the region’s tourism figures were even more impressive. In Q1 2024, 36 percent more international tourists visited in comparison to Q1 2019. In 2024, the UAE was also among the top ten trending destinations globally.
“One trend in this space that I’m very happy to see is the rise of sustainability, cultural immersion, and purpose as factors influencing travelers’ choices,” she remarks.
As these sectors continue to evolve and present new opportunities, industry leaders are at the forefront of shaping a more adaptable, collaborative, and innovative workforce. If anything, today’s rapidly changing landscape underscores one immutable thing: The importance of personal growth and building strong professional foundations.
As a piece of advice to anyone starting in their career, Ajmal has this to say: “Surround yourself with people who uplift you, who bring out the best in you, and who you would want to talk to when you’re in a difficult situation. Having such a support network around you — whether it’s your direct manager, your mentor, your colleagues, or even your friends and family — is truly priceless.”
