In a significant move within the financial services industry, Visa Inc. (NYSE: V) announced the appointment of Tareq Muhmood as the Regional President for Central and Eastern Europe, the Middle East, and Africa (CEMEA). This strategic decision underscores Visa’s commitment to enhancing its operations across one of the most dynamic regions globally. It’s worth noting that Muhmood will oversee the activities in over 86 rapidly evolving markets, serving more than 1,800 clients from 23 local offices throughout CEMEA.
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Tareq Muhmood is not just a name on a corporate roster; his career spans over 30 years in banking and payments, rich with experiences that have shaped him into the leader he is today. Before stepping into his new role, Muhmood was the head of Value-Added Services for Visa’s Europe region from his base in London. His journey with Visa began in 2019 when he became the Group Country Manager for Southeast Asia in Singapore. But let’s take a moment to understand the breadth of his expertise. Prior to his tenure at Visa, he held senior leadership roles at esteemed financial institutions like Ahli United Bank, ANZ, and HSBC. Now, as he takes on this pivotal role in Dubai, he will report directly to Oliver Jenkyn, Visa’s Group President of Global Markets.
Muhmood’s appointment comes in the wake of Andrew Torre’s recent transition to President of Visa’s Value-Added Services business. Under Torre’s leadership, this division blossomed into a remarkable $9 billion global enterprise, achieving an impressive annual growth rate of 20% since 2021. Isn’t it astonishing how leadership can drive an organization to new heights?
“We are thrilled to have Tareq at the helm of our operations in CEMEA. His extensive experience at the intersection of financial services and technology, particularly in high-growth markets, makes him the ideal leader during this exciting phase for Visa,” remarked Jenkyn. “Throughout his career, Tareq has worked across 13 countries, bringing a unique global perspective, world-class leadership, and a solid track record in partnering with Visa’s largest clients across complex and rapidly accelerating markets.” Such praise isn’t given lightly—it’s a testament to the impact Muhmood is anticipated to have moving forward.
Reflecting on his new role, Muhmood expressed, “It is a great honor to lead the CEMEA region and continue the tremendous progress already made in transforming the future of payments, commerce, and the movement of money across such dynamic markets.” It’s intriguing how he acknowledges the existing groundwork while eagerly anticipating future opportunities. After spending over a third of his career in this region, he sees the incredible potential to further expand digital payments. “I am excited to work closely with our outstanding team to enable shared growth with clients and partners across the region.” Can you sense the excitement in his words? It speaks volumes about his aspirations and vision.
Muhmood’s journey is not just a corporate ladder climb; it’s about offering solutions—in a time when cash is waning and digital engagement is surging. The CEMEA region, with its diverse challenges and opportunities, calls for a leader who not only understands the local nuances but also appreciates the global landscape. As businesses and consumers alike shift towards digital payments, the importance of effective leadership cannot be overstated.
Consider this: How many times have you found yourself using digital wallets or contactless payments without a second thought? In an age where convenience is king, Muhmood’s leadership will undoubtedly help shape the future of transactional experiences for countless individuals and businesses in CEMEA.
As Muhmood embarks on this exciting chapter, it’s evident that his vision aligns well with the ethos of Visa. His commitment to fostering growth and innovation in the digital payment sphere is something that every stakeholder—be it a small merchant or a multinational corporation—should embrace. The prospect of elevating the payment landscape is not merely an aspiration but a shared goal that can lead to far-reaching benefits for economies.
Philosopher and author Howard Thurman once said, “Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive.” This is the essence of what Muhmood aims to achieve—a transformation that not only meets current demands but also anticipates future ones.
In conclusion, as Tareq Muhmood takes the reins in a region bubbling with potential, both clients and partners alike should watch eagerly. His experience, combined with a fresh outlook, is poised to advance the realm of digital payments in Central and Eastern Europe, the Middle East, and Africa. Innovation awaits, and it appears to be in capable hands.
Edited By Ali Musa
Axadle Times International – Monitoring.
