Egyptian entrepreneur who relocated to the UAE over half a century traces personal voyage
In the heart of Dubai, Farouk Mohamed made his mark, not only in the accounting and consulting world but also in the history of the United Arab Emirates (UAE). Mohamed, who moved to the UAE in 1963, started his journey in the country with an import-export business and construction company.
After three years of hard work, he established his own practice in 1966. However, it is important to clarify that there are no publicly available historical records or credible sources confirming that Grant Thornton UAE was founded by Farouk Mohamed in Dubai in 1963. Grant Thornton International, as a global network of accounting and consulting firms, traces its origins primarily to firms founded in the early to mid-20th century, but its expansion into the UAE and the Gulf region happened later, generally well after the 1960s.
Mohamed's office was located in Nasser Square in Deira, opposite Commercial Bank of Dubai and then erstwhile British Bank of the Middle East. His dedication and hard work paid off, as his firm joined Give Thornton International, one of the largest audit networks worldwide, in 1981. This association allowed him to provide premium quality services to the business community, establishing one of the leading professional firms in the UAE as his major success.
Mohamed's love for the UAE is not just in his heart but also in his blood, as his family expanded in the country, with his children born and educated there. His son, Hisham Farouk, joined the company 25 years ago and has played a significant role in its growth. In 2016, Hisham Farouk was appointed to the international board of Grant Thornton International.
The company, now known as Grant Thornton UAE, currently has a staff strength of over 500, with the head office in One Central, Dubai, covering 30,000 sqft and branches in Abu Dhabi and Sharjah. Mohamed's firm has maintained relationships with many family businesses that started with them 55 years ago and are now working with their third generation.
In recognition of his contributions, Mohamed was awarded the Fakhr Al Arab Honor for Excellence in 2021. He and his son, Hisham Farouk, were part of the UAE delegation during the celebration of 50 years of main ties between the UAE and Egypt. Mohamed has a fond memory of 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.
Despite the challenges he faced in his early days in Dubai, such as difficulties in sleeping due to the noise from public auctions and lack of amenities, Mohamed's perseverance and dedication have left an indelible mark on the UAE's business landscape. His legacy continues to be a testament to the spirit of entrepreneurship and the potential for growth in the UAE.
- Farouk Mohamed's dedication and hard work in the accounting and consulting world led to his firm joining Grant Thornton International, a prominent audit network, in 1981, providing premium finance services to the business community and establishing one of the leading professional firms in the UAE.
- Education also played a significant role in the career of Farouk Mohamed's son, Hisham Farouk, who joined the company 25 years ago and was later appointed to the international board of Grant Thornton International in 2016.
- Despite the initial financial and infrastructure challenges in Dubai, Farouk Mohamed's perseverance and dedication left an indelible mark on the UAE's business landscape, becoming a testament to the spirit of entrepreneurship and potential for growth in the UAE's industry.
