Profile: Abdirashid Duale, CEO of Dahabshiil

Abdirashid Duale is the CEO of Dahabshiil, an international funds transfer company headquartered in Dubai.

His father founded the business in the early 70s as a commodities trading business but extended into providing money transfer services to Somali diaspora who were looking to send money home. Duale, 40, now calls the shots and has control of the company.

Dahabshiil now operates from more than 24,000 outlets across 126 countries and employs more than 2,000 people.

The company had 2016 revenues of more than $1 billion.

The Dahabshiil Group also operates a leading commercial bank in Somalia, and owns 95% of mobile telecoms firm Somtel. Duale owns property in London, Dubai and Hargeisa.

Over a period of 20 years, Mr Duale has founded new companies in Africa, Europe, the Middle East and North America. He is involved in community regeneration projects in Africa and elsewhere in the world, in which Dahabshiil invests a substantial amount of its profits each year.

Mr Duale is a regular keynote speaker at international conferences. He has spoken about remittances, telecommunications, emerging markets and development finance at events including those at the London School of EconomicsOxford University and the United Nations. Dahabshiil has featured in local and international media including The Financial Times, the BBCAl JazeeraThe New York TimesThe Economist and The Guardian.

In 2013 Dahabshiil won the Excellence for Enterprise category at the Muslim News Awards in London. The award was presented by the Shadow Chancellor Ed Balls. The Prime Minister David Cameron, the Deputy Prime Minister Nick Clegg, and the Labour leader Ed Milliband all sent congratulatory messages. Dahabshiil in 2010 won the Mayor of Tower Hamlets Award for excellence in the community, and, in 2008, Mr Duale was named Top Manager of the Year by the International Association of Money Transfer Networks.

Mr. Duale also serves on various advisory boards including at the Humanitarian Innovation Project (HIP), a research project based at the Refugee Studies Centre, University of Oxford and the International Association of Money Transfer Networks (IAMTN) which represents Money Transfer Industry/Payment Institutions across the globe.