Journey of Prominent Egyptian Entrepreneur Established Six Decades Ago in the UAE Recapitulated in New Documentary
Farouk Mohamed, the founder of Grant Thornton UAE, has had an illustrious career spanning over five decades in the United Arab Emirates (UAE). His journey began in 1963 when he moved to the UAE and started his own practice in a small office after completing a four-year internship at Rate Waterhouse.
In 1966, Farouk expanded his business to individual accounting services. However, it wasn't until the nationalization of all economic sector markets by the Egyptian government, which limited the activities of auditors, that Farouk accepted a job offer in the UAE. This move proved to be a turning point in his life, as he soon established one of the leading professional firms providing services to numerous sector sectors in the UAE.
Farouk's son, Hisham Farouk, joined the company 25 years ago and has been instrumental in its current growth. In 2016, Hisham was appointed to the international board of Grant Thornton International, further solidifying the company's position on the global stage.
The Grant Thornton UAE company started concentrating on audit and diversified its services to include advising solutions and later taxation. Today, the company has a staff strength of over 500 employees, with its head office in One Central, Dubai, covering 30,000 sqft and branches in Abu Dhabi and Sharjah. The expansion of the Grant Thornton UAE company and the growth of numerous household companies in the UAE have been parallel and have contributed to the country's growth.
Farouk's firm joined Grant Thornton International, one of the largest audit networks worldwide, in 1981. This alliance enabled the company to offer a wider range of services and tap into a global network of professionals. Under Farouk's leadership, Grant Thornton UAE has been operating in the UAE for 55 years.
Farouk promoted an expanding relationship with creators of different family companies that became prominent figures in the UAE, earning their trust and confidence. His efforts have been recognised with the Fakhr Al Arab Honor for Excellence in 2021 and a UAE gold visa.
One of Farouk's fondest memories is witnessing the formation of the UAE and the strides made by the late Sheikh Zayed bin Sultan Al Nahyan and the late Sheikh Rashid bin Saeed Al Maktoum. He was part of the UAE delegation during the celebration of 50 years of main ties between the UAE and Egypt, alongside his son Hisham Farouk, who serves as the chairman and CEO of Grant Thornton UAE.
Farouk's early life and career, before moving to the UAE, are not extensively documented. However, it is known that he was born and raised in Egypt, and his initial accommodation in Dubai was beside the vegetable market, with no air conditioning or power. Despite these humble beginnings, Farouk's determination and vision have left an indelible mark on the UAE business landscape.
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- Farouk Mohamed's business expansion in the UAE led him to provide services in various sectors, establishing one of the leading professional firms in the country.
- In 2016, Hisham Farouk, Farouk Mohamed's son, was appointed to the international board of Grant Thornton International, increasing the company's presence on the global stage.
- Grant Thornton UAE has diversified its services over the years, now offering advising solutions and taxation in addition to audit services.
- The growth of the Grant Thornton UAE company and numerous household companies in the UAE have been parallel, contributing significantly to the country's growth.
- Farouk Mohamed's influence in the industry extends to personal development and self-improvement, as evidenced by his support for creators of family companies and his receiving the Fakhr Al Arab Honor for Excellence.
