Ravindran Ramiah of aafaq
Podcast lover, technology expert, and finance evangelist Ravindran Ramiah’s exemplary career trajectory is a testament to why the UAE is a perfect destination for ambitious expats. Fondly known as Ravi among peers and competitors, he was recognized for his stellar contributions to the UAE’s fintech sector at the CXO 50 Awards and Conclave 2025. His professional legacy is a journey of optimistic vision, pragmatic action, and relentless focus.
His engineering degree completion coincided with the famed ‘LPG’ era of the Indian economy under Dr. Manmohan Singh. The economic reforms of liberalisation, privatisation, and globalisation saw the Indian borders open up to international conglomerates. Armed with a management degree in Systems and Finance from the prestigious Indian Institute of Management Calcutta (IIM-C), he began his career at Reliance Industries before moving to Merrill Lynch. The academic discipline and competitiveness of the Indian education system was the perfect foundation for his career and ambition. In 1999, greener pastures in the UAE beckoned. Dubai, then an up-and-coming emirate, was where talent and opportunity found themselves loaded with vigour and fortune. “Maktub (destiny),” said Ravi as he set his sights on a new horizon and thus began the first step of his thousand-mile journey in the UAE.
The oil economy boom of the nineties meant increased banking transactions and the demand for remittances and international facilities. So, he started his Dubai journey managing the IT services of the banking division of a software services company. It led to bigger opportunities in a senior role as AVP – IT systems, and then came the inflexion point in his career. Dubai Islamic Bank and its subsidiaries needed a complete restructuring of its technology and banking systems, and he cut his teeth into building a robust framework balancing efficiency and commercial requirements. His efforts bore fruit when Commercial Bank International hired him to establish an Islamic window and head the Al Islami Operations. This project was a career milestone, as Al Islami was a bank within a larger bank that helped him establish his legacy in the echelons of UAE’s burgeoning fintech sector. As a founding member of the Islamic window, he set up the IT, operations, and product divisions.
Bahrain became his next stop, as he pursued consumer finance and became a founding member of one of the initial fintech organisations in Saudi Arabia. As an Executive Management team member, he oversaw the digital strategy for premier banks in the region. His signature leadership style – focus and a never-say-die attitude helped him lead this turnkey fintech project that needed experience and entrepreneurship to scale the business.
Bahrain was great, but Ravi soon realized that Dubai had his heart. Since then, Aafaq Islamic Bank has remained his professional home.
As the COO (Chief Operating Officer) and CTO (Chief Technology Officer) of Aafaq Islamic Bank, an NBFC regulated by the Central Bank of the UAE, Ravi has empowered the financial institution to expand into retail lending solutions. This has enabled it to serve a broader range of end users, including corporates and SMEs, who form its core customer base.
As the technology chief, his main responsibility is the digitization of the bank—an initiative he understands to be more than just a software upgrade. It involves training and upskilling the workforce, many of whom were accustomed to manual processes. As a result, over the past two and a half years, the bank has transformed into a more tech-friendly, cost-effective institution capable of serving customers in real time.
A landmark achievement has been the establishment of digital-only branches and services, particularly in Fujairah, Ras Al Khaimah, Sharjah, and Ajman, where tech-powered digital kiosks provide a seamless banking experience. Given that trade and business dominate these emirates, digital banking has driven a major shift in fintech services.
Technology maturity and relevance come before implementation. Stay abreast of trends but be judicious about what actually works for your organisation’s goals
With a career spanning over 24 years in the UAE, Ravi has witnessed firsthand the massive transformation of banking services. He reflects that the country’s stringent regulations and strong enforcement make it one of the best places for banking services globally.
Given the lopsided bank-to-population ratio, he believes financial institutions must work harder to retain customers—driving efficiency and enhancing service delivery. Digital and technological advancements have significantly shaped the way people interact with banks, and this evolution will continue in the years ahead.
Unlike many who view Artificial Intelligence as a magic bullet or a panacea for all challenges, he remains both cautious and optimistic. He acknowledges that automation will reshape workforce dynamics, and the only way to adapt is through upskilling and reskilling employees. While industry efficiency will rise, qualified professionals will carve out their own niches within the sector.
Ravi’s leadership blends pragmatism with innovation. When asked how does he navigate the constant technological advancements, he simply answered, “Technology maturity and relevance come before implementation. Stay abreast of trends but be judicious about what actually works for your organisation’s goals. Strive for a fine balance of strategy and precision.”
An Indian at heart and a UAE leader in spirit, Ravindran Ramiah has mastered the art of driving growth while maintaining financial prudence. As banking evolves, he remains a guiding force, advocating for thoughtful digital transformation, sustainable progress, and excellence—proving that true leadership lies in making the right choices, not just embracing change.
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