From Investment Banker to ADNOC Drilling's CFO at 30: Youssef Salem Tells All
Youssef Salem: CFO of ADNOC Drilling
In the latest episode of The Dollar Diaries, Youssef Salem, CFO of ADNOC Drilling and co-founder of Qora 71, shared a masterclass on what it means to drive value in today's Middle East investment landscape. This blog post distills his journey from investment banking into the world of sovereign capital, tech ecosystems, sustainable finance, and Shariah-aligned innovation.
Breaking Into the Boardroom: The Making of a CFO
Youssef's career began in Qatar at Q-Invest, where he built foundational exposure across principal investing, M&A, and capital markets. He later joined Moelis & Company, advising the likes of ADNOC and Aramco on multibillion-dollar transactions. "We did six listings of ADNOC subsidiaries," he notes, underscoring the scale of his MENA capital markets experience.
But it was when he joined Swvl as CFO, helping take the mobility startup public via SPAC on NASDAQ in 2022, that his trajectory bent steeply upward. Today, he's at the helm of ADNOC Drilling's finances, managing capital for one of the region's largest energy players.
In regions like MENA where sovereign capital dominates, having public market experience like Youssef’s is becoming a key differentiator. It creates trust with regulators, boards, and global investors.
Venture Building Through Qora 71
In a region historically constrained by limited exit options and conservative LPs, Youssef co-founded Qora 71—a zero-fee, no-carry, no-commitment syndicate for professional investors. It aligns skin-in-the-game capital with real startup support, and is designed to scale alongside Abu Dhabi's Hub71 ecosystem.
"No fees. No carry. No minimum ticket. Just people aligned on making great bets together."
This model is pushing the boundaries of venture investing in MENA, combining syndicate economics with community value creation.
The Qora 71 model isn’t just novel—it’s pragmatic. In ecosystems where trust is maturing, zero-friction collaboration may be the cultural unlock needed to scale angel investing.
The State of Private Capital in MENA
Youssef described a region once reluctant to commit to blind pools. During the 2010s, exits were rare, secondary markets barely existed, and PE-to-PE trades or LBOs were scarce due to conservative lending environments.
That tide is turning. In 2024, MENA startups raised over $2.3 billion across 610 deals, a 3.5% YoY increase. Saudi Arabia led the region with $750M in funding, while the UAE followed with $613M. Notably, fintech remains the leading sector, with over $1B raised in Q1 2025 alone.
Exit pathways have evolved too:
Property Finder raised debt to buy back shares
Saudi's capital markets are booming
DFM is building an OTC market with the London Stock Exchange
The result? A full-stack financial ecosystem finally taking shape.
Faith, Finance & Shariah Innovation
One of the episode's most powerful moments came when Youssef described his personal mission: to integrate Islamic principles into modern finance.
"The Quran isn't just a religious text. It's a book on economics, ethics, and decision-making."
He emphasized the exponential unlocks possible when capital products become Shariah-compliant. Sukuks often outperform bonds due to pent-up demand from faith-driven institutions. Similarly, the Abu Dhabi Exchange recently partnered with FTSE to launch a Shariah ETF—targeting billions in sidelined capital from Malaysia to Saudi Arabia.
Qora 71 itself is exploring crypto infrastructure investments, with strict compliance filters to ensure they align with Islamic values. Faith-based investing isn’t a niche—it's a blueprint for inclusive finance in markets where ethical alignment trumps pure alpha.
Building Sustainable Finance at ADNOC Drilling
As CFO of an oilfield giant, Youssef must navigate ESG imperatives while still delivering financial performance. ADNOC's group-wide net-zero target of 2045 and 25% emissions reduction by 2030 are ambitious.
"We're not just doing this to look good. We're creating economic value from carbon credits and circular reinjection."
From carbon capture with Emirates Steel to reinvestments through Enersol (ADNOC Drilling's tech JV), the company is integrating late-stage, cash-yielding technologies that balance energy demands with climate responsibility.
On AI, Cloud & Quantum
Youssef also gave a blueprint for how the UAE is positioning itself as a global AI capital:
Mohammed bin Zayed University for AI
Falcon & JAIS LLMs developed locally
Data center capacity from Amazon, Microsoft, and G42
"If you're running compute-heavy AI workloads, you want cheap energy, geopolitical neutrality, and cloud infrastructure. The UAE has all three."
He also commented on quantum computing, calling it a "basket play":
"Too early to pick winners, but the sector will stay. You invest in a basket, not just one name."
The Future of Finance in the Middle East
The region is shifting from a one-hub model to a decentralized financial ecosystem:
DIFC (Dubai), ADGM (Abu Dhabi), KAFD (Riyadh), QFC (Doha)
Family offices and hedge funds are setting up across the Gulf
Regulation is adapting to emerging asset classes
Youssef remains bullish:
"Capital markets here are now a real exit option. Fundraising isn't the bottleneck anymore."
With sovereign wealth funds launching growth platforms and family offices turning to structured SPVs, the region is finally becoming investable—at scale. If MENA wants to rival Singapore or London, it must now turn from infrastructure to institutions—and that means talent.
A Final Word
Youssef's story isn't just about high finance. It's about synthesis: combining Wall Street discipline, Islamic ethics, and startup execution into a new MENA financial architecture.
His final words summed it up best:
"You only prosper when you bring all your sources together—local and global, old and new. That's how you build something enduring."
If you're an investor, founder, or policymaker in the region, this episode is a must-listen. The Middle East isn't just catching up.
It's building its own Wall Street.