Five things to know about former Careem Pay head Junaid Iqbal
Junaid Iqbal, a prominent figure in the tech and finance sectors, has a diverse career spanning media, investment banking, financial markets, technology, startups and leading major digital platforms. Known for his strategic vision and entrepreneurial spirit, he has significantly impacted the businesses he’s led. After leading Careem’s Pakistan operations and later serving as managing director and…
1. Iqbal's influence at Careem was significant, beginning as the managing director for Pakistan and later expanding to the Saudi Arabian market. His leadership led to Careem's substantial growth, culminating in its acquisition by Uber for $3.1 billion in 2020.
2. After leaving Careem, Iqbal ventured into entrepreneurship in Dubai. He co-founded Salt Ventures, an investment firm backing various tech startups, and established Caravan Media, a technology-focused media business generating content on Pakistan’s economic potential.
3. Iqbal's career started in media, hosting "Power Lunch" on CNBC Pakistan. He transitioned into finance, becoming CEO of BMA Financial Services Limited. Later, at Elixir Securities, he reinvigorated the Corporate Finance division and orchestrated a USD 1.5 billion privatisation transaction, including the Pakistani government's sale of a 40% stake in HBL Bank for $1.02 billion.
4. In September 2026, Iqbal was appointed as the president and CEO-designate of Engro Corporation, set to assume the role in April 2027. Prior to this, he will serve as an advisor to the CEO of Engro Holdings, focusing on strategic initiatives.
5. Iqbal strategically based his ventures in Dubai, capitalizing on the region's opportunities. He views Dubai and Riyadh as key to fostering collaboration between global talent and capital, positioning the Middle East, North Africa, and Pakistan (MENAP) as an innovative hub. His career highlights a relentless pursuit of impact, whether leading a ride-hailing giant, nurturing tech ventures, or preparing to lead a major Pakistani corporation.
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