Julphar was founded in 1980 by the vision of Sheikh Saqr Bin Mohammed Al Qasimi. Nowadays, Julphar is a global pharmaceutical powerhouse hailing from Ras Al Khaimah, developed to become the largest producer of insulin in the world and a leading provider of innovative healthcare solutions across the Middle East, Africa, and beyond. With a focus on quality as well as accessibility, Julphar assumes an important role for the betterment of healthcare by providing millions of people in five continents with access to affordable medicines for saving lives.

Julphar, of which its more formal name is Gulf Pharmaceutical Industries, was established with the goal of providing accessible, affordable medicines. Within four years of the incorporation of Julphar, it received approval from the UAE Ministry of Health for the first 30 of its products. For nearly two decades, Julphar has proved itself to be an excellent growth opportunity. In late 1980s, it diversified its manufacturing portfolio by adding liquids and semi-solids. By 1998, the company had set up three more units (Julphar II, III, and IV). The company, thus, became the epicentre of this regional health care industry. Turning Point Julphar, which undertook a major overhaul in 2012, witnessed the launching of its class-first biotechnology facility in the UAE. This gave Julphar the rank of one of the topmost producers of insulin in the world, marking a significant milestone in consideration of the world’s mushrooming diabetes epidemic.

Julphar’s insulin is based on recombinant DNA technology, thereby becoming the first and the only company in the Middle East to manufacture this crucial raw material. Julphar Diabetes Solutions, this initiative ascertains to the company’s leadership status worldwide in insulin production but at the same time has taken considerable strides in handling diabetes in the region. Julphar expanded its global footprint through international facilities in Ethiopia, Saudi Arabia, and Bangladesh. The establishment of Julphar Ethiopia in 2013 represented the company’s serious foray into the African market as an important step to enhance healthcare solutions among underserved populations.

Julphar has a diversified product portfolio similar to its diversity in geographical reach. The company has specialized in general medications and special products that target a vast spectrum of therapeutic areas, amongst them diabetes, gastrointestinal disorders, conditions involving the respiratory system, and pain relief. Julphar also has extensive experience in the treatment of wounds and scars, gynaecology, dermatology, cardiology, and so much more. Its most popular product has been the MEBO Moist Exposure Burn Ointment, used to heal burns. This ointment became popular, and Julphar developed MEBO Scar to help both old and new scars, thus helping patients regain the health of traumatized skin.

Julphar operates 16 internationally accredited manufacturing facilities, 13 of which are located in the UAE. Manufacturing facilities of such magnitudes can produce as much as one million boxes of medicine a day in an interest in giving the highest quality with high standards in production. With some 5,000 employees, Julphar is not only one of the leaders in the pharmaceutical industry but also plays a significant role in the UAE economy. The company also invested heavily in transportation and logistics arm MenaCool to ensure safe and efficient deliveries of medicines across the MENA region. This focus on distribution goes to aid the causes of Julphar so that their products will find the needy patients.

Quality and innovation are supposed values that are being met by Julphar, as the company won several awards in recognition of quality and innovation. Julphar was crowned as the number one pharmaceutical manufacturer in the UAE in 2018. This was a great achievement for the company as well as its partner Merck & Co., as they won the Association of Strategic Alliance Professionals award to become the first pharmaceutical company in the Middle East and Africa to win this accolade.

Julphar won the Frost & Sullivan 2018 Best Emerging GCC Pharmaceutical Manufacturing Company of the Year award due to its sustained focus on emerging markets. These give ample proof of Julphar’s leadership in the pharmaceutical industry both regionally and globally.

First Gulf Bank was the first to be established back in 1979. It is a symbol of financial innovation within the UAE. Growth in a region means quick modernization and reach to the global world. Now here FGB thrived by adapting the changing needs of consumers as well as businesses. In 2016, it was cemented in the merger with National Bank of Abu Dhabi to create the largest bank by assets in the UAE-in First Abu Dhabi Bank, or FAB. That merger provided a new era for UAE banking and reflects the spirit of forward-thinking leadership that has long characterized FGB.

First Gulf Bank was founded in the Emirate of Abu Dhabi with the role of acting as an instrument to the growing economic and financial services of the UAE. During its nascent stages, the bank functioned solely through traditional banking services, but once the UAE become a financial global hub, the same FGB would adapt to suit the themes that define the nation’s financial life. The bank expanded its wholesale, consumer, as well as treasury banking sectors through the provision of business-to-business solutions and other retail customers. FGB had increased to three principal departments by the time it restructured itself in 2013, namely, the Wholesale Banking Group, the Consumer Banking Group, and the Treasury & Global Markets Group. Through this restructuring, FGB streamlined its operations as well as improved on its service delivery in the emerging markets, especially Islamic banking and bank assurance.

FGB was not satisfied with making only UAE its clients. It wanted to expand globally. The bank moved into the key international markets of Singapore, Qatar, and the UK. Its subsidiary reach increased through the India, South Korea, Hong Kong, and Libya representation offices. A significant point in the international strategy of the bank was marked by the launch of a Global Wealth Management service in Singapore in 2014. It offered wealth management solutions to high-net-worth clients, thus moving FGB into becoming a global player in the financial services sector. Along the same year, the bank expanded its presence by opening a new representative office in South Korea, hence establishing its strong global presence.

Far from being satisfied with this, however, its international ambitions didn’t stop there. It made headlines by coming out with the very first 250 million Australian-dollar Kangaroo bond, marking its debut in the Australian debt market. FGB was also able to make history again when it emerged as the first Middle Eastern bank to issue a bond in Japan’s Tokyo Pro-Bond market, sustaining its financial innovations on the world stage.

By 2014, FGB had emerged as one of the strongest financial institutions in the UAE. It held shareholder equity of AED 34.1 billion, positioning it among the largest in the region as an equity based bank. FGB produces strong financial results every year. In 2014, net profit reached AED 5.66 billion, 18% more than the previous year. The strength did not go unnoticed, and the international rating agencies commended it highly. Well, Capital Intelligence actually conferred an A+ Financial Strength Rating on FGB back in 2014, and it is also in this time when the RAM Ratings gave FGB that highly prized AAA score. Fitch also did not deviate and reconfirmed its rating as A+ long-term, showing that one would be wrong if he or she would say that financial robustness and stability are only concepts because, after all, it is part of FGB’s makeup.

2016 was also marked by history for FGB with the development of having shareholders approve a merger with National Bank of Abu Dhabi, or NBAD. This merged entity, in the format of a share swap, now became First Abu Dhabi Bank (FAB), the country’s largest bank in terms of assets. Under the arrangement, shareholders of FGB received 1.254 shares of NBAD for every share held of FGB, which provided it with financial muscle to compete on the global platform. The merger was the result of a dream to create a more powerful banking entity that could better serve both the UAE and international markets. The new entity FAB promptly became the largest bank in the MENA region and complemented the massive efforts of the UAE towards building up a quality financial sector. Already in 2014, FGB had started sending signals that it intended to modernize and rebrand. The bank announced a new logo, and the bank now goes by its acronym “FGB” to go with its forward-looking attitude. This was part of a long-term strategy to expand locally and internationally, as it maintained the relationship with its Emirati heritage.

Sponsorships were also strategic, such as FGB being a local sponsor of Ferrari World Abu Dhabi, which is the largest indoor Ferrari-branded theme park in the world. The bank also opened the FGB Arena at Zayed Sports City, which is a multi-use venue hosting sporting events, concerts, and exhibitions.

Originally established as the first local bank of Abu Dhabi emirate back in 1968, National Bank of Abu Dhabi, or NBAD, was one of the true pioneers of the banking scene in UAE. Over the passage of decades, the financial institution that began modestly as a domestic institution came to be one of the financial powerhouses, not just of the UAE but also of the entire Middle East and international level. This expansion strategy and innovative banking services paved its way to become the largest bank in the region, First Abu Dhabi Bank (FAB), after the merger with the First Gulf Bank (FGB) in 2016. Today, NBAD’s legacy lives through FAB’s activities, still dominating the MENA region.

National Bank of Abu Dhabi was established in 1968, under the guidance of the UAE’s visionary founder, Sheikh Zayed bin Sultan Al Nahyan. The aim of this bank was to establish a financial institution large enough to cater to the increasing economic requirements of Abu Dhabi and eventually other emirates. The banks specialized in retail and corporate banking services, later further developing their portfolios into wholesale, investment, and Islamic banking. It was in the 1970s when NBAD emerged as the first UAE bank to take its activities abroad, opening its first international branch in Cairo, Egypt in 1975. It continued its journey into Europe and North America by making a presence in London and the U.S. by end-1977, thereby granting its ambition of building a global presence.

The expansion of NBAD was centered on the West-East Corridor, as defined by the bank as the geographical area from West Africa to East Asia. During this period, the bank expanded a strong international presence through branches, subsidiaries, and representative offices in 17 countries, including Malaysia, India, Hong Kong, China, and South Korea. Thus, focusing on the emerging markets in Asia and Africa, the bank was planning to become a global player in the financial ecosystem. Its international expansion included partners in the industries too with companies like Unilever and Siemens where it can use banking capabilities across other businesses. By 2015, NBAD had established a regional finance base in India with this development underpinning the intentions of deepening its penetration in the South Asian market.

In June 2016, NBAD announced that it would merge with First Gulf Bank (FGB), a move that was to transform the financial landscape both in the UAE and the wider MENA region. The deal that was completed in December 2016 formed First Abu Dhabi Bank, which has since become the largest Middle East and North Africa bank by assets. It was structured on a share-for-share basis whereby FGB shareholders were made to receive 1.254 NBAD shares for every FGB share owned. This strategic move was in the name of meeting the objective of establishing a bank with the competitive power to compete in the international arena, combined with greater financial muscle and a broadened services profile. Today, FAB stands as a symbol of the strength of the union between NBAD and FGB whose operations now traverse five continents.

NBAD also played a leading role at the leadership level in Islamic banking in the UAE. NBAD also offered Sharia-compliant banking through its subsidiary, Abu Dhabi National Islamic Finance Company (ADNIF), established in 2008, given growing demand for ethical banking solutions within the region. The bank’s range of Islamic banking products primarily consisted of retail, corporate, and investment banking services, which helped it to attract a diverse customer base. In the financial services sector, the bank was also innovating into modern wealth management, private banking, and property management. The capability of NBAD to be responsive and change according to the needs of the market has helped the bank to be placed among the safest and most stable banks in the world.

The rating agencies that are internationally recognized also gave high credit ratings to NBAD. In fact, in 2013, Standard & Poor’s raised the credit rating of the bank on account of close relations with the government of Abu Dhabi and recognition of the importance of the bank for the financial system. The Moody’s agency, Fitch, and other agencies constantly ranked NBAD among the safest banks in the world.