Visa Names Tareq Muhmood as Regional President for CEMEA

Visa has announced the appointment of Tareq Muhmood as Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA).
In this role, Muhmood will oversee operations across more than 86 markets in the region, where Visa serves over 1,800 clients through 23 local offices.
Muhmood brings over three decades of experience in banking and payments.
He most recently led Value-Added Services for Visa's Europe region from London and joined the company in 2019 as Group Country Manager for Southeast Asia, based in Singapore.
His previous roles include senior leadership positions at Ahli United Bank, ANZ, and HSBC.
Muhmood will be based in Dubai and reports to Oliver Jenkyn, Group President, Global Markets at Visa.
He takes over from Andrew Torre, who has been appointed President of Visa's Value-Added Services division.
That unit has grown into a US$9 billion global business, with an annualised revenue growth rate of 20% since 2021.
Commenting on his appointment, Muhmood said:
'It is a great honour to lead the CEMEA region, and to continue the progress made in transforming the future of payments, commerce, and money movement across such dynamic markets. Having spent over a third of my career in the region, I am excited by the opportunity to further expand digital payments to more consumers, merchants, and economies. I look forward to working with our team to support growth with clients and partners throughout the region.'

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

The National

4 hours ago

• The National

Oil companies in Iraq evacuate foreign staff amid fears of spillover of Israel-Iran war

Several international oil companies operating in southern Iraq have evacuated their foreign employees amid fears of an expansion of the Israel-Iran war, sources told The National on Monday. The sources, some of whom are employees by the companies, added that workers started to leave straight after the first Israeli attack on June 13, but that they almost all left in recent days. They added that they left through Basra International Airport, the only airport operating in Iraq now, or by land to Kuwait. The evacuation has not had an impact on operation in these fields or Iraq's oil production, the sources said. Iraq is eager not to be drawn into the conflict and its government has asked the US and Iran not to turn the country into a battleground. However, there are fears Iran-backed militias in Iraq will spring into action now that the US has entered the war. Sources close to the Iraqi government said last week some of the most prominent militant groups have made it known that any US military intervention would trigger a response. The US, meanwhile, is keeping its embassy running in Iraq even as it enters the worsening air war nearby in Iran. Some American staff left Iraq last weekend, an embassy representative said, as part of an "orderly departure" that began 10 days ago, shortly before Israel attacked Iran. However, the US embassy in Baghdad and the consulate general in Erbil "remain open and operating", the official said. They said the US State Department "continues to closely monitor the security situation across Iraq".

Arabian Post

4 hours ago

• Arabian Post

Strategy Scales Up Bitcoin Holdings Amid Weakening Prices

Strategy, the publicly traded firm led by Michael Saylor, increased its Bitcoin reserve, purchasing 245 BTC for US $26 million during the week ending 22 June, at an average price of US $105,856 per coin. This augments the company's holdings to 592,345 BTC, acquired at a cumulative cost of approximately US $41.87 billion and an average cost of US $70,681 per coin. Year‑to‑date, the firm has realised a yield of 19.2% on its Bitcoin portfolio. Buying at the tail end of a dip—from highs near US $108,900 down to lows just below US $99,000—Strategy appeared undeterred by broader macroeconomic anxieties weighing on crypto markets. The timing underscores a deep conviction in Bitcoin's long‑term trajectory, reinforced by Saylor's forecast that the asset could reach US $21 million within 21 years, presented on 21 June. This additional acquisition keeps Strategy on track with its 2025 target of a 25% annual yield, recently raised from an earlier goal of 15%. As of this purchase, the return-on-holding stands at 19.2%, offering a clear path toward the revised objective. ADVERTISEMENT Despite a broad sentiment shift toward caution in the crypto space—manifest in an estimated US $5.5 billion inflow into institutional products in the three weeks through early May—the decision by Strategy to double down highlights a contrasting stance. Institutional inflows have been largely concentrated in Bitcoin, accounting for US $1.8 billion of the total amid a surge in interest. Crypto analysts suggest that volatility triggered by geopolitical risks and shifting macroeconomic dynamics, including trade tensions and Federal Reserve policy, is creating opportunities for long‑term players. AInvest noted a 'volatility window' in mid‑2025 that may set the stage for a fresh bull run towards US $200,000, drawing in investors anticipating US foreign‑trade and rate‑cut shifts. Blockchain data firm Glassnode reports that on‑chain accumulation continues steadily, with long‑term holders increasing their reserves despite price swings. This suggests ongoing confidence among institutional and retail actors alike. Strategy's accumulation strategy exemplifies a bet on mean reversion and broader adoption of Bitcoin as a hedge against currency debasement and inflation. Saylor has consistently argued that Bitcoin is 'hard money' with inherent scarcity, likening it to digital gold—an argument echoed in institutional flows and strategic investor behavior.

Hi Dubai

7 hours ago

• Hi Dubai

Parkin Wins Best Privatisation in EMEA for Landmark Dubai IPO

Parkin Company PJSC has been named Best Privatisation in EMEA at the 2025 EMEA Finance Achievement Awards in London, marking another major milestone in the company's rapid rise as a standout player in Dubai's infrastructure sector. The award recognises Parkin's transformation from a government entity into a high-performing listed business. Its March 2024 IPO on the Dubai Financial Market drew AED 259 billion (US$71 billion) in total demand, making it one of the most oversubscribed listings in the region with a 165x oversubscription rate. This recognition follows Parkin's recent win as Best MENA IPO by Euromoney, further cementing its position as a model for successful privatisation and a key contributor to Dubai's vision for future-ready infrastructure. Parkin CEO Eng. Mohamed Abdulla Al Ali called the award a proud moment for both the company and the city, highlighting the team's efforts to create long-term value and attract global investment through a capex-light, cash-generative business model. The accolade reinforces Dubai's growing reputation for innovative privatisation strategies and its ability to lead transformative developments in the mobility and infrastructure space. News Source: Burson Global