Governance & Regulation

A regulated operating framework supported by defined governance, oversight, and institutional controls.

Black Condor operates within a regulated, transparent, and institution-grade governance environment designed to support sovereign participation, maintain programme integrity, and reinforce investor confidence.

Regulated Operating Environment

Black Condor provides advisory and programme administration services to sovereign issuers within a controlled and compliant operating framework.

The firm supports governments in evaluating financing needs, designing structured funding strategies, and accessing market liquidity through a secure and disciplined programme structure.

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Abstract architectural facade with wavy, metallic panels.

Black Condor DIFC

Black Condor DIFC is a regulated financial services entity authorised by the Dubai Financial Services Authority (DFSA).

From the DIFC, the firm manages programme oversight, structuring, auction coordination, and engagement with financial institutions, ensuring operations meet the standards expected of sovereign market participants.

→ Learn more about the DFSA framework

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Control Functions

Defined control functions ensure regulatory compliance, operational oversight, and programme risk management.

These functions reflect DFSA standards and institutional-grade governance practices.

Control functions include:

Senior Executive Officer

Compliance Officer

Money Laundering Reporting Officer

Money Laundering

Reporting Officer

Finance Officer Internal Auditor (outsourced)

External Auditor (DFSA-recognised firm)

Corporate Structure

Black Condor’s corporate structure combines founding leadership with established institutional investment.

Board of Directors

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    Jassem Zainal

    Chairman

    With over 30 years of experience in banking and investment, Jassem Zainal serves as CEO of Arzan Financial Group and Chairman of AIM. His board leadership spans multiple financial institutions across the GCC, the US, and Europe, including roles in banking, investment, and capital markets.

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    Abdoul Aziz Ba

    Board Director & Senior Executive Officer

    A senior banking and investment professional with over 25 years of experience, Abdoul Aziz Ba leads BlackCondor’s operations, strategy, and regulatory engagement. His background spans sovereign advisory, structured finance, and senior leadership roles across major international financial institutions.

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    Muhannad Abdulhassan

    Board Director

    With over 20 years of experience in global investment and asset management, Muhannad Abdulhassan is CEO of Arzan Wealth and a board member of several regional and international companies. His background includes senior leadership positions at Arcapita Bahrain and the Kuwait Investment Office in London.

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    Mario Tryfonides

    Non-Executive Director

    A fund management veteran with over 25 years of experience, Mario Tryfonides previously served as SEO of Gateway Investment Management Services in Dubai, managing multiple investment funds. He is the founder of Integritas, a Dubai-based provider of corporate consultancy and independent directorship services.

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    Charles Egly

    Non-Executive Director

    With more than two decades of experience in financial services and fintech innovation, Charles Egly is the founder and CEO of Younited Credit, one of France’s leading fintech unicorns. He began his career in banking, including senior roles at BNP Paribas.

Executive Team

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    Abdoul Aziz Ba

    Senior Executive Officer

    A senior banking and investment professional with over 25 years of experience, Abdoul Aziz Ba leads BlackCondor’s operations, strategy, and regulatory engagement. His background spans sovereign advisory, structured finance, and senior leadership roles across major international financial institutions.

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    Waqas Abdullah

    Finance Officer (Dubai)

    Waqas Abdullah is working with Rethink Outsourced Services as a Finance Manager and is the registered Finance Officer for Blackcondor (DIFC) Ltd with the DFSA. He is an ACCA-qualified professional accountant with over 18 years of diverse experience across financial management and reporting, budgeting, taxation, and auditing. He has a proven track record of leveraging technology to streamline accounting processes, ensure compliance with IFRS and regulatory requirements

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    Rosemary Ndujekwu

    Compliance Officer (Dubai)

    Rosemary is a DFSA-authorised compliance and AML professional overseeing BlackCondor’s compliance and AML function through Rethink ME Ltd. She previously worked at Crowe UAE, where she progressed from Auditor to Senior Consultant in AML and Compliance.

    Her background spans audit, risk management, and advisory work across FCA, DFSA, FSRA, SCA, and Central Bank of Ghana regulated institutions. She holds a Master’s in Accounting and Finance from Alliance Manchester Business School and is a member of ACCA, ACAMS, ACFE, and MCSI.

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    Guy Dossou-Sognon

    Senior Special Advisor (Cotonou)

    Guy Dossou leads deal structuring activities, supporting sovereign transactions and programme asset mobilisation. His expertise spans sovereign debt advisory, financial modelling, and capital market structuring within the West African region.

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    Chris Kouakou

    Chief Capital Market Dealer
    (Delta One Advisory, Abidjan)

    Chris Kouakou manages primary market engagement, auction execution, and dealer coordination. He plays a central role in connecting the Euclid Programme with regional financial institutions and supporting liquidity distribution across WAEMU markets.

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    Justus Kouame

    Capital Market Sales
    (Delta One Advisory, Abidjan)

    Focused on investor outreach and market coverage, Justus Kouame contributes to the distribution of sovereign-backed short-term instruments, strengthening investor diversification and regional market penetration.

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    Hooman Sabeti

    General Counsel (external)

    Hooman Sabeti, a partner of Sepenta Law, leads the legal aspects of BlackCondor’s transactions. He has worked on advanced financings in over 30 countries from New York, London and Singapore, and was previously general counsel of a multilateral FI and a partner of Allen & Overy.

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    Amir Mirtaheri

    Senior Counsel (external)

    Amir Mirtaheri, a partner of Sepenta Law, manages BlackCondor’s corporate arrangements and supports our financing transactions. He has advised on cross-border financings across North America and MENA, and was previously in-house at a major Canadian financial institution.

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    Saba Mirahsani

    Legal Associate

    Saba Mirahsani supports the legal and business teams on BlackCondor’s contractual arrangements and transactional work. She has over five years private practice experience on cross-border corporate and financial matters.