In an interview with Wealth Monitor, Souqalmal Founder & CEO, Ambareen Musa talks about her journey so far and the company’s growth plans for the next coming years.
Tell us about your business. What inspired you to create Souqalmal.com?
When I first moved to the UAE, it was very difficult for me to compare the personal finance options I had. Over time, it became clear to me that there was a need in the market for an online one-stop shop that allows users to research all retail banking and insurance products in the market without having to get in touch with individual banks.
The market also needed a platform where banks could reach out to customers instead of cold calling them. After working for two years at Bain & Company Middle East and two more at MasterCard, Souqalmal.com was born in 2012. The concept was to create an online platform which allows an increased level of transparency to the banking and insurance industry in UAE, but more importantly to promote a level of financial literacy never seen before.
What is different about Souqalmal.com, in comparison to your competitors?
We always strive to make the customer at the core of our business. That is why we have created our products and content to reflect what the consumer really wants or is asking for. We are very strong about customer privacy where we respect the customer’s choice of which bank they want to talk to.
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