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ICM MENA has promoted Ahmed Kamal to chief executive officer, putting a long-serving regional manager at the head of ICM.com's Dubai-based arm. The report does not state when the appointment takes effect.
Kamal's progression and ICM's reach
Kamal joined ICM in March 2019 as a Business Development Manager. His roles progressed from Senior Business Development Manager for MENA in February 2021 to Team Leader in April 2023, before he became Regional Manager in June 2024.
His JMI Brokers career began in April 2010, when he joined as a Sales Coordinator. By February 2016, he had become a Business Development Manager, a role he retained until February 2019; his time at the firm totalled close to nine years. His profile records a bachelor's degree in accounting from El Shorouk Academy, completed in 2010.
ICM.com, previously known as ICM Capital, brought its group entities under the ICM.com name in August 2018. Abedi presented that change as a response to the group's growth over the preceding 10 years.
ICM Capital had announced a Dubai representative office partnership with brothers Mohammad and Abdulla Habib Al Mulla in November 2015. ICM's Founder and Chairman, Shoaib Abedi, said Kamal's contribution and leadership in developing the MENA team informed the promotion. Kamal said he would concentrate on relationships with regional traders and partners, while maintaining the service associated with ICM's reputation.
In 2021, ICM.com established a Qatar unit with approvals from Qatar Financial Centre. The licence covered FX and CFD products for retail and professional clients in Qatar, as well as other GCC states and North Africa; the group also established a subsidiary in Jordan. A later report by Finance Magnates said ICM MENA had secured a licence from Dubai's Securities and Commodities Authority.
At that time, ICM.com was regulated by Abu Dhabi Global Market, Mauritius, South Africa and Switzerland. The group had decided to relinquish its UK Financial Conduct Authority authorisation, with its UK unit limited to onboarding professional clients.
What this changes for operators
The appointment does not establish whether ICM MENA will alter dealing-desk escalation, client support coverage or approval paths. Operators should confirm who owns regional incident escalation and whether any responsibilities are moving between the Dubai operation and other MENA units.
The report gives no detail on operational changes. Questions to resolve include whether regional onboarding or regulatory reporting responsibilities will shift, and whether the appointment requires updates to permissions, sign-off matrices, client communications or incident contacts.
