Taking Up The Reins: Rakhil Fernando on Becoming CEO of Yabi

Founded by Ambareen Musa in the UAE in 2022, Yabi is a fintech platform that provides cutting-edge technology solutions that help users take control of their financial health and make informed financial decisions. With the aim to promote financial wellness, Musa – who is also known for being the founder of the UAE-born financial comparison website Souqalmal – led Yabi as its CEO until September this year; she has since handed over the reins of the enterprise to Rakhil Fernando, who was previously the managing director at Alibaba’s Daraz Group, an e-commerce marketplace in South Asia.

Talking to Inc. Arabia about his appointment at Yabi, Fernando – who’s been billed as an expert in scaling digital platforms – paid tribute to the “powerful foundation” that Musa has laid for Yabi, while also detailing his vision to expand the enterprise’s mission by making the platform even more dynamic, intuitive, and deeply integrated into users’ daily financial decisions. “Ambareen’s leadership was marked by her passion for empowering users with financial knowledge and building a platform grounded in financial literacy,” Fernando says. “These guiding principles are deeply embedded in Yabi’s DNA, and I am fully committed to preserving them. We will continue to focus on financial wellness, with user-centric solutions driving everything we do, ensuring Yabi remains a trusted resource for financial independence and education."

Ambareen Musa, founder of Yabi. Courtesy of Ambareen Musa. 

"That said, my vision for Yabi goes beyond continuity," Fernando continues. "My unique mark will come from leveraging my extensive experience in scaling digital platforms and building brands that resonate deeply with users. With over a decade in fintech and e-commerce leadership, I bring a relentless focus on scalable innovation and operational efficiency. Central to my leadership philosophy is fostering a collaborative environment – surrounding myself with smarter minds than myself, and empowering them to push boundaries while aligning with our shared vision."

"My aim is to ensure that Yabi not only meets the evolving needs of its users today, but grows into a comprehensive financial wellness companion that adapts to future market demands," Fernando declares. "In the near future, we’ll be rolling out new, innovative features that blend education with actionable insights, transforming the user experience into something more interactive and rewarding. My goal is to celebrate users’ achievements as they navigate their financial journey, making Yabi not just a tool, but a partner in their success. Exciting times are ahead, and I can’t wait for everyone to see what we have in store!”

This article first appeared in the October issue of Inc. Arabia magazine. To read the full issue online, click here.