Visa has announced the appointment of Tareq Muhmood as regional president for Central and Eastern Europe, the Middle East and Africa (CEMEA). The company informed Ukrainian News Agency about this. In the new position, the Visa top manager will lead the company's operations in more than 86 markets, including Ukraine. Visa's work in CEMEA currently covers more than 1,800 customers, served by 23 local offices across the region.
Tareq Muhmood has more than 30 years of experience in banking and payments. Prior to his new appointment, he worked in London, holding the position of head of Value-Added Services in Visa's European region. He joined the company in 2019 as regional manager for Southeast Asia, working in the Singapore office. Prior to joining Visa, Muhmood held senior roles at Ahli United Bank, ANZ and HSBC. He will be based in Dubai and will report to Oliver Jenkyn, Visa's regional president for global markets, effective immediately. Muhmood succeeds Andrew Torre, who was recently appointed president of Visa's Value-Added Services, a business that has grown to a USD 9 billion global business and is forecast to grow revenue by 20% annually since 2021.
Visa, Inc. specializes in issuing and marketing payment cards. The group's activity is organized essentially into two areas:
- sales of means of payment: credit cards, debit cards, on-line payment cards, prepaid cards, etc. (Visa, Visa Electron, V PAY, Interlink and PLUS brands);
- services: consulting and assistance services, information services, partner network management services, etc.
Net sales (including intra-group) break down by type of revenue between data processing revenue (35.9%), service revenue (31.5%), international transaction revenue (25.4%) and other (7.2%).
58.9% of net sales are generated abroad.
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