'Firoz Merchant', A Businessman In Dubai: Why He Is Rescuing Thousands Of Debtors From UAE Prisons?

By Mohd Ahsanuddin Haseeb
Principal Gulf Editor in Dubai, UAE

Softly-spoken Indian businessman Firoz Merchant is a self-made millionaire, ranked number 30 on the recent '50 Richest Indians List', with a wealth estimated at around $440m. This is a far cry from having to leave school at the age of 11 because his parents could not afford the fees and living in a cramped Mumbai bedroom with his eight siblings.

Fast forward to Dubai and he now owns a gold retail conglomerate that is one of the biggest names in the industry and, in the midst of a challenging retail sector, has just announced multi-million-dollar expansion plans, is set to create 2,000 new jobs and is aiming to enter the hospitality sector.