Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat

Etisalat appoints Hatem Dowidar as its new group CEO


Alkesh Sharma
  • English
  • Arabic

Etisalat, the UAE's biggest telecoms company, appointed Hatem Dowidar as its new group chief executive, the company said.

In May, Mr Dowidar was appointed as acting group chief executive after Etisalat's long serving chief executive Saleh Al Abdooli stepped down for personal reasons.

Mr Dowidar joined Etisalat in September 2015, having previously worked as Vodafone Group's chief of staff in London. He became chief executive of Etisalat's international business in March 2016.

He initially joined Vodafone Egypt in 1999 as marketing director and became its chief executive in 2009.

Hatem Dowidar, group chief executive of Etisalat. Courtesy Etisalat
Hatem Dowidar, group chief executive of Etisalat. Courtesy Etisalat

"Mr Dowidar has a long track record of achievements in the various leadership positions he held at Vodafone Group and its subsidiaries … he brings 30 years of experience in multinational companies … more than 24 of these within the telecommunications industry," Etisalat said in a statement on the Abu Dhabi Securities Exchange, where its shares trade.

“He has extensive corporate governance experience from his representation as chairman and board member in several corporate boards within and outside the telecommunications industry.”

Mr Dowidar also sits on the boards of Etisalat's subsidiaries in Morocco, Egypt and Pakistan.

Etisalat, which is majority owned by the government, in October reported a 6 per cent year-on-year rise in third quarter net profit to Dh2.4 billion. Meanwhile, revenue rose marginally by 0.5 per cent to reach Dh13bn.

Its subscriber base in the UAE grew to 12.1 million during the period.

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Name: Akeed

Based: Muscat

Launch year: 2018

Number of employees: 40

Sector: Online food delivery

Funding: Raised $3.2m since inception 

What can victims do?

Always use only regulated platforms

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Courtesy: Crystal Intelligence

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2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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If a business does not apply for the refund on time, they lose their credit.

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Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

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Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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