ICM MENA, the Dubai-based regional arm of broker ICM.com, has promoted Ahmed Kamal to chief executive officer. He joined in March 2019 as a Business Development Manager and had served as Regional Manager since June 2024.
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Kamal’s Path at ICM
According to his LinkedIn profile, Kamal became Senior Business Development Manager for MENA in February 2021. He was named Team Leader for the region in April 2023, before taking the Regional Manager role in June 2024.
Before ICM, he spent close to nine years at JMI Brokers. He started there as a Sales Coordinator in April 2010 and became a Business Development Manager in February 2016, a post he held until February 2019. His profile lists a bachelor’s degree in accounting from El Shorouk Academy, completed in 2010.
Shoaib Abedi, ICM’s Founder and Chairman, said: “Ahmed’s promotion recognises the contribution he has made to ICM MENA since joining, and the leadership he has shown in building our MENA team.”
Kamal said his priority is the firm’s regional relationships. “My focus is on strengthening our relationships with traders and partners in MENA and continuing to deliver the trusted service that has shaped ICM’s reputation,” he said.
ICM’s Gulf Footprint
ICM.com was previously known as ICM Capital. It rebranded in August 2018 to bring its group entities under one name. Abedi said at the time that the brand “was created as a response to ICM’s exponential growth over the past 10 years.”
The Gulf has featured in the company’s plans for more than a decade. In November 2015, ICM Capital announced a partnership with brothers Mohammad and Abdulla Habib Al Mulla to open a Dubai representative office.
In 2021, ICM.com entered Qatar, setting up a local unit under Qatar Financial Centre approvals. The licence allowed it to offer FX and CFD products to retail and professional clients in Qatar. It also covered other GCC states and North Africa.
The company had also launched a subsidiary in Jordan. “Despite ongoing Covid-19 disruptions, we are able to achieve steady growth and carry on branching out within the MENA region,” Abedi said then.
Finance Magnates later reported that ICM MENA, a subsidiary of ICM.com, had obtained a licence from Dubai’s Securities and Commodities Authority. Abedi called the approval part of the broker’s “global expansion strategy.” At that point, ICM.com was also regulated by the Abu Dhabi Global Market, as well as in Mauritius, South Africa and Switzerland. The same report said the group had decided to relinquish its UK Financial Conduct Authority authorisation, and that its UK unit was limited to onboarding professional clients.
This article was written by Arnab Shome at www.financemagnates.com.
