EastNets CEO shares entrepreneurial insights at INSEAD Abu Dhabi in the classroom and in a panel discussion

EastNets, a leading global provider of compliance and payments solutions and services, has announced that its CEO Hazem Mulhim shared key entrepreneurial insights and his experience as a successful entrepreneur with MBA students during an afternoon class and with a wider audience during evening panel discussion at the INSEAD business school, Abu Dhabi, on 29 February 2012. The class was focused on the issue of entrepreneurship and a case written specifically about the founding of EastNets. The panel discussion was focused more broadly on the issue of encouraging entrepreneurship and growing the private sector.

During the class discussion, Hazem illustrated the nuances of entrepreneurship by presenting a case study on EastNets titled EastNets: Opportunity in Every Difficulty', which chronicled the challenges and obstacles that Hazem had to overcome to transform EastNets into what it is today – a global provider of compliance and payments solutions and services with operations in 14 countries.

"I am confident that the business management students of INSEAD have immensely benefited from the EastNets story, which underlines the importance of perseverance, hard work, foresight and optimism. Aspiring entrepreneurs should realize that succeeding in business over a prolonged period seldom happens easily; they need to be prepared to overcome various challenges and unforeseen circumstances and market forces. The key is to never give up and look for opportunities and positives even during difficult times," said Hazem.

Professor Stephen Mezias of INSEAD, who coauthored the case study with the assistance of INSEAD researcher Mohamad Fakhreddin, commented on the class, "The phenomenal success story of EastNets and Mr. Hazem Mulhim in particular illustrate the value of perserverance, particularly in the face of the difficulties facing entrepreneurs in emerging markets. It has been gratifying to lead the INSEAD campus in Abu Dhabi, teaching business courses, emphasizing theory and knowledge, which is important for the Middle East region. Being able to add cases based in the regions, and particularly a true story of corporate and personal triumph over overwhelming challenges, is important. They provide relevant information to improve the impact of classroom knowledge and inspire students who may be interested in becoming entrepreneurs in the region."

As of 2011, EastNets had provided risk management services to more than 1,000 financial institutions in 120 countries, including 22 of the top 50 global banks. In 2011, it was ranked 37th in the world among firms providing compliance services, according to the RiskTech survey released by Chartis Research. Like all firms that make the transition from being a start-up to being a globally ranked company, EastNets is clearly a story of phenomenal success against all odds.