Understanding VASP Licensing:

Zaher El Orm

Manager - Crypto Centre,
DMCC Ecosystems

Paul Boots

Head of Sector Development,
VARA

Paul Boots joins the Virtual Assets Regulatory Authority (VARA) as the newly appointed Head of Sector Development, bringing with him a wealth of experience as a senior executive and entrepreneur with a proven track record in innovation, leadership, and market development. With a diverse background spanning financial services, strategy, and technology, Paul has been instrumental in shaping the Middle East’s peer-to-peer financing landscape, notably as the founding Group COO at Beehive, where he pioneered one of the region's first peer-to-peer lending platforms. His entrepreneurial expertise also extends to co-founding a boutique advisory firm that focuses on leadership development and strategy for large UAE-based companies, with a special focus on AI-driven technologies. 

Before these ventures, Paul played a key role in the executive leadership team at the Dubai Multi Commodities Centre (DMCC), where he was instrumental in establishing Dubai as a global hub for trade across multiple industries. During his tenure, he conceptualized and built DMCC’s commodity trade finance platform, which facilitated Islamic banking partnerships. More recently, Paul led the development of a large B2B marketplace on behalf of the Investment Corporation of Dubai, further showcasing his ability to build innovative platforms that drive economic growth. 

A graduate of Babson College, Paul’s passion for leadership, entrepreneurship, and building high-performing teams is central to his approach. His appointment at VARA aligns with Dubai’s strategic goals under the D33 agenda, as Paul’s leadership in sector development will play a critical role in positioning the Emirate as a global leader in the virtual assets space. His unique blend of strategic insight and operational expertise will be pivotal as VARA continues to shape the future of virtual asset regulation and innovation. 

Dr. Ayesha Binlootah

Assistant Vice President,
VARA

Dr. Ayesha Binlootah is the Assistant Vice President for Licensing, Supervision, and Assurance at Dubai Virtual Assets Regulatory Authority (VARA). A trailblazer in financial sector, virtual assets( regulatory compliance and governance, she is a member of the FATF Virtual Assets Contact Group and the UAE Federal National Anti-Money Laundering Committee. She also holds multiple board positions at publicly listed entities in DFM. A board member of Institute of Internal Auditors and serves on the Steering Committee of the Climate Governance Initiative. With prior leadership roles at Dubai's Department of Economy and Tourism and Dubai Islamic Bank, Dr. Binlootah is recognized as a thought leader and a symbol of empowerment for women in the UAE.

She holds a Doctorate specialised in investment, her MBA in International Business, complemented by executive education from leading institutions.