(MENAFN- The Peninsula)
Deepak John
|
The Peninsula
Doha, Qatar: Fourteen Qatari firms were featured in the list of Top 100 Listed Companies in the Middle East during the year 2024 by Forbes magazine.
The following firms have made it to the ranking of top companies in their respective categories in June issue of Forbes Middle East: QNB Group (Rank 4), Group CEO – Abdulla Mubarak Al Khalifa; Qatar Islamic bank (Rank 29), Group CEO – Bassel Gamal; Ooredoo Group (Rank 31), Group CEO – Aziz Aluthman Fakhroo; Industries Qatar (Rank 33), Chairman and Managing Director – Saad Sherida Al Kaabi; Commercial Bank (Rank 38), Group CEO – Joseph Abraham; Masraf Al Rayan (Rank 43), Group CEO – Fahad Al Khalifa; Dukhan Bank (Rank 61) Acting Group CEO – Ahmed Hashem; Nakilat (Rank 74), CEO – Abdullah Al Sulaiti; Qatar Fuel (WOQOD) (Rank 75), Managing Director and CEO – Saad Rashid Al Muhannadi; Qatar International Islamic Bank (Rank 77) CEO – Abdulbasit Al Shaibei; Qatar Electricity and Water Company (Rank 86), Managing Director and General Manager – Mohammed Nasser Al Hajri; Ahlibank (Rank 91), CEO – Hassan Ahmed AlEfrangi; Doha Bank (Rank 94), Group CEO – Abdulrahman bin Fahad Al Thani; Qatar Insurance Company (Rank 98), Group CEO – Salem Al Mannai.
The Gulf Cooperation Council (GCC) companies dominate the list with 92 entries, led by the UAE with 32 companies, followed by 31 from Saudi Arabia. The list also features 10 companies from Kuwait, four from Morocco, three from Bahrain, and two entries each from Egypt, Jordan, and Oman.
Regarding the methodology, Forbes noted“We collected data from listed stock exchanges in the Arab world and ranked companies based on their reported sales, assets, and profits for the financial year of 2023 and market value as of April 26, 2024. Each metric was given equal weight, and companies with the same final scores were given the same rank.
Saudi Aramco retains the top spot this year with $660.8bn in assets and $1.9 trillion in market value, followed by the Saudi National Bank and the International Holding Company. The banking and financial services sector is the most represented with 45 entries generating aggregate sales of $223.5bn, with $3.3 trillion in assets. However, the energy sector, represented by five companies, is the most profitable, with a combined profit of $127.5bn, thanks to Aramco.
The June issue of Forbes also revealed seven Middle East Businesswomen who took their firms public. It stated that these leaders from our list of the Middle East 100 Most Powerful Businesswomen 2024 have led their companies onto stock markets.”
The list includes Anwar bint Nawaf Al Thani, CEO of Al Faleh Educational Holding. The company moved to the main market of the Qatar Stock Exchange in January 2024, becoming the first woman-led Qatari public shareholding company on the stock market. In April 2021, Al Faleh Educational Holding listed its shares on the Qatar Stock Exchange's venture market, to become the first educational company to be listed on the venture market.
It also includes Shaista Asif, PureHealth Holding; Pakinam Kafafi, TAQA Arabia; Sarah Al Suhaimi, Saudi Tadawul Group; Samia Bouazza, Multiply Group; Hend El-Sherbeni, Integrated Diagnostics Hldings (IDH); and Jalila Mezni, Societe d'Articles Hygieniques (SAH Group).
MENAFN16062024000063011010ID1108338585
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.