Isam Akrat

Experience

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  Thuraya Telecommunications Company

  Jan 1997 - Jan 2002

  General Counsel & Corporate Secretary

  Following a secondment from ETISALAT to the US$ 1.2 Billion THURAYA Satellite Telecommunications PJSC, I formally joined the service of THURAYA, assuming the legal posts of Legal Advisor, Manager Legal Affairs and then General Counsel, between October 1997 and July 2002. I was also company secretary throughout my service with THURAYA.As THURAYA’s chief legal officer, I oversaw (or participated in) the negotiation, documentation, achievement and implementation of all major milestones of the Project, including: -• Project financing (negotiating of a US$600 Million debt financing facility);• Corporate affairs & governance;• Regulatory and GMPCS affairs (licensing, frequency allocation, etc.); • Company Business Development Plan implementation (supporting the Business Development Division of the Company negotiating, documenting service-related MoUs, MoAs and agreements with its business partners, e.g. service provision, distribution and gateway agreements), as well as in inter-operator relations; eg. interconnection, and roaming agreements);• Contracts Management (documentation and maintenance of contracts, agreements and MoUs/MoAs for the varied business requirements of the Company - including, but not limited to the THURAYA System/Satellites Procurement Contract, spacecraft launch services, IT, technology transfer, goods and services procurement, generally); • Insurance; including the satellites launch, early-in-orbit and space, commercial general liability, and ground insurances; and• Other milestones of Project THURAYA and miscellaneous tasks.The range of issues which the THURAYA encompassed, spanned a wide spectrum of legal practice areas, intertwined with state-of-the-art technology and cutting edge commercial know-how. Participating in the decision-making process as General Counsel, added an invaluable dimension to my professional experience and a deeper understanding of the law, in general, the commercial and corporate law in particular. Show less

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  Kuwait Fund for Economic Development

  Jan 2002 - Jan 2005

  Legal Advisor

  Kuwait Fund is the first and one of the major players amongst the Arab World’s development finance institutions. As a legal counsel with the Fund, my duties encompassed the following:-• Development Law Work: This group of duties focuses on the loan cycle process, including project appraisal, due diligence, preparation and drafting of project documentation, review of consultants and contractors terms & conditions of engagement, and of tender documents, opining on agreement-related issues (e.g. the coming into force of loan agreement), and handling disbursement-related issues. My Portfolio of projects included projects in India (hydro-electric power project), Georgia, Morocco, Djibouti, Tanzania (roads projects), and Ethiopia (extension of the national power grid).• Commercial Advisory Legal Work: (1) Legal support for the Investment Department: This department was entrusted with investing the Fund’s substantial financial resources in major international financial markets. My work involved providing the Director General of the Fund and the department head with legal and commercial advisory support on investments and documentation; and also on commercial litigation (mainly U.S.A), in addition to liaison with the Fund’s external legal counsel. (2) Legal support for Kuwait Consulting & Investment Company Ltd (KCIC) - a subsidiary of the Fund, which was set up to undertake major consultancy assignment in Kuwait and abroad; e.g. the Feasibility Study for the Bubyan Island New Port, in the State of Kuwait, and management services (e.g. representing Kuwait Investment Authority as a holder of record regarding its majority shareholding in BH Steel Zeljerzara Zenica - Sarajevo: the largest steel mill in Bosnia and Herzegovina). During the period June-July 2004, I advised KCIC negotiating successfully a US$100 Million deal to introduce a strategic partner (Lakshmi Metal Industries) in BH Steel. (3) Other commercial and corporate matters, generally. Show less

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  Etisalat

  Jul 2005 - Jun 2012

  ETISALAT is one of the largest telecommunications companies in the World and the leading operator in the Middle East and Africa, headquartered in the Abu Dhabi, UAE. ETISALAT operates in 18 countries across Asia, the Middle East and Africa, serving over 100 Million customers out of a total population of approximately 1.9. Billion people. In 2009, ETISALAT reported annual Net Revenues of AED 30.831 and Net Profits of AED 8.836 Billion marking a 5% and 16% increase respectively, compared to 2008. ETISALAT is rated by Moody’s at Aa2, Standard & Poor’s at A+ and Fitch Ratings at A+. As General Counsel and (and during my tenure as Corporation Secretary) of the ETISALAT Group, my job entailed involvement in the formulation of the Corporation’s strategic, business, corporate, regulatory, risk management and Telecom plans, as well as developing and leading an effective legal function to contribute to the implementation of the Group business plan and milestones, including the execution of the Corporation’s aggressive international expansionist strategy and Mergers and Acquisition activities and also in managing the Group operating structure which controls the operating companies of the Group. I was actively involved in all acquisitions of foreign operations, such as XL (Indonesia), Etisalat DB (India), Etisalat Misr (Egypt), and in other unsuccessful acquisitions as well; e.g. South Africa’s MTN and Kuwait’s Zain Groups. My responsibilities also covered oversight of the corporate governance system of the Corporation and involvement of streamlining that of the operating companies. I was privileged to have been a member of the management team which oversaw the establishment of the ETISALAT Group and its achievement of the prominent position it currently enjoys amongst its peers in the Telecom world. I led an effective team of talented lawyers and left behind a legacy as a strong General Counsel. Show less While a member of the Group’s CXO Management team as the ETISALAT Group’s General Counsel, I sat on the boards of some operating companies of the Group, including:- • Atlantique Telecom Group West Africa 22 May 2008 – 31 May 2012• Atlantique Telecom Cote d’Ivoire Abidjan, Ivory Coast 22 May 2008 – 31 May 2012• ETISALAT Benin Cotonou, Benin 30 November 2008 – 31 May 2012• EMTS Holdings B.V Amsterdam, Holland 30 November 2008 – 31 May 2012• ETISALAT Nigeria Abuja, Nigeria 30 November 2008 – 31 May 2012 Show less

  • Group General Counsel

    Jan 2005 - Jun 2012

  • Institutional Directorships

    Jan 2008 - Jan 2012

  • Corporate Secretary

    Jul 2005 - Aug 2011
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  Private Consultancy

  Jun 2012 - Jan 2014

  Owner
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  Department of Finance, Government of Abu Dhabi

  Feb 2014 - Dec 2018

  Chief Legal Advisor

  Advisor to Senior Management on the Financial System of the Emirate of Abu Dhabi, generally, as well as on issues related to public & corporate finance, capital markets, Public Debt, commercial and corporate laws, insurance, corporate governance, sovereign wealth funds, banking relations, and legislation,

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  Department of Finance, Government of the Emirate of Abu Dhabi

  Jan 2019 - now

  Legal Expert - Advisory

  Advisor to Senior Management on the Financial System of the Emirate of Abu Dhabi, generally, as well as on issues related to public & corporate finance, capital markets, Public Debt, commercial and corporate laws, insurance, corporate governance, sovereign wealth funds, banking relations, and legislation,

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  Abu Dhabi Accountability Authority

  Aug 2019 - now

  • General Counsel

    Feb 2021 - now

  • Legal Counsel

    Aug 2019 - Feb 2021