Zack Shahin, 49, is the former CEO of Dubai-based Deyaar realty. In the span of a few short years, Shahin successfully converted this small cap development business into a multi-billion dollar global competitor in the commercial and residential real estate market. An American citizen, Shahin is married and the father of two.
Before the financial crisis struck global economies, both large and small, Zack Shahin, former CEO of Deyaar Realty, successfully converted this small cap development business into a multi-billion dollar global competitor in the commercial and residential real estate market. However, when markets began to feel the effect of such downturn, the highly successful career of Shahin, a U.S. citizen working in the Middle East, came to an abrupt end following his arrest and detention by Dubai security services on March 23, 2008. Amid allegations of corruption against various directors and officers of Deyaar, Shahin has been wrongly singled out as having participated in draining the company of equity. He has been imprisoned without trial by the Dubai Government under inhumane conditions for over four years suffering violations of his due process rights under the laws of Dubai. Although various charges have been filed, no resolution of any of them has taken place. Some cases have even been dismissed on the eve before trial, just when Shahin was about to present his defense to the claims against him.
Shahinís mistreatment has been raised by the highest levels of the U.S. Government, including Secretary of State Hillary Clinton and Attorney General Eric Holder, during bilateral discussions with top U.A.E. officials. During Secretary Clintonís meeting with her U.A.E. counterpart, Foreign Minister Abdullah Bin Zayed, she addressed how Emiratis accused of comparable crimes have been treated far more leniently than Shahin. These U.S. Government concerns have been raised by the U.S. Ambassador and Consul General during multiple meetings and phone calls with U.A.E. law enforcement officials as well. Still, nothing has changed, Shahinís due process rights continue to be violated, and no end to his suffering is in sight.
Prior to becoming CEO of Deyaar Development, Shahin was retail vice president and head of sales for service and distribution at MashreqBank in United Arab Emirates and Qatar. At MashreqBank, Shahin led the sales, service, distribution and retail operations of both the Retail BankingGroup & Osool Finance Company (subsidiary of the Bank) and was responsible for a total staff of 845, operating 45 branches in the UAE and Qatar. Under Shahin, retail Banking profits grew by 52% in 2001 and 62% in 2002 with absolute revenue in excess of $ 80 million. Shahin previously worked for Pepsi Cola International in United Arab Emirates, most recently as a franchise director. At Pepsico, Shahin was assigned to an under-performing franchise. Under his leadership, share loss was halted and the franchise regained market leadership. Shahins franchise expanded production capacity by 45 percent to meet potential local market and export growth thanks in part to the introduction of an additional canning line.
Shahin received a Bachelor of Business Administration in accounting finance from the Lebanese University, and a BAI graduate degree in retail banking from the University of Wisconsinís Graduate School of Retail Banking.