Five things to know about Engro's soon-to-be CEO 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 global head of Careem Pay, Iqbal is set to take over as president and CEO of Engro Corporation in April 2027.

Here are five things to know about the Pakistani executive.

1.  A driving force at Careem

Junaid Iqbal played a pivotal role at Careem, first as the managing director for Pakistan, where he was credited for building the company’s presence in the country. He then extended his leadership for the company to the Saudi Arabian market before becoming the managing director and global head of Careem Pay. During his tenure, Careem grew significantly, eventually being acquired by Uber for $3.1 billion in a transaction completed in 2020.

2.  Post-Careem entrepreneurial ventures

After his time at Careem, Iqbal embarked on new entrepreneurial journeys, both based in Dubai. He founded Salt Ventures, an investment firm focusing on diverse tech startups ranging from fintech and construction tech to women’s health and retail automation. Additionally, he established Caravan Media, a knowledge-focused media business grounded in technology, business, and economy. Its first product, “Pakistan & Counting,” creates videos exploring Pakistan’s economic potential, with plans for more geographically and functionally focused content.

3.  Early career in media and high-impact finance

Iqbal’s career began in media, where he hosted “Power Lunch” on CNBC Pakistan. He transitioned into the financial sector, serving as CEO of BMA Financial Services Limited. Later, at Elixir Securities, he relaunched the Corporate Finance division and executed privatisation transactions exceeding USD 1.5 billion. Notably, he oversaw the Pakistani government’s sale of a 40% stake in HBL Bank for USD 1.02 billion, marking it as the largest equity capital markets transaction in Asian Frontier Markets history.

4. Iqbal decided to skip his MBA

In an interview last year on Aaj TV, Iqbal said his friends asked him: “What do they teach in an MBA? Networking and case studies. And what are you doing at CNBC? Every time a CEO comes to your show, you analyze all their financials, you’re actually going head to head with them and they’re respecting you for it, that you come so prepared.”

“Why on earth would you go spend two years of your life and pay a few hundred thousand dollars?”

According to his LinkedIn profile, Junaid Iqbal earned a Bachelor of Arts in Economics from the University of Michigan, Ann Arbor (1998–2002), and completed an Executive Education Program in Leadership in Financial Organizations at Harvard Business School in 2013.

5.  Championing Dubai as a global hub

Iqbal has strategically based his recent ventures, Salt Ventures and Caravan Media, in Dubai, citing the immense opportunities within the GCC region. He views Dubai and Riyadh as instrumental in fostering seamless collaboration between global talent and capital, positioning the Middle East, North Africa, and Pakistan (MENAP) as an “interesting and exciting region” that is rapidly becoming a centre for innovation.

Iqbal’s career trajectory underscores a consistent drive for impact, whether leading a ride-hailing giant, fostering new tech ventures, or preparing to head one of Pakistan’s major corporations. His journey reflects a keen understanding of market dynamics and a commitment to leveraging technology for regional growth.