The entrepreneur was hailed as ‘an impressive entrepreneur who is disrupting his sector’ for his work with WorldRemit.
Dr Ahmed first saw the opportunity to improve money transfers while at university in London, when sending money to family members in Africa.
Every transaction meant travelling across the city to an agent who charged a large fee to send modest amounts of money. He knew that change was needed.
Over the coming years Ismail worked with a number of remittance businesses as well as international policy makers, and in 2010 founded WorldRemit.
Now, WorldRemit’s service is available to senders in 50 countries and offers transfers to more than 120 destinations across Europe, Asia, Africa, Australia and the Americas.
Joanna Santinon, EY’s London Entrepreneur Of The Year leader, said: “The judges were highly impressed by Ismail’s story.
“Starting from scratch he has overcome adversity, shaken up the market and achieved global impact and success. He manages a highly engaged workforce; 65% of which are female.
“The London & South awards recognised a whole spectrum of entrepreneurship from early stage businesses that are disrupting established sectors to market dominators; from pet food to augmented reality and from hair care to drug development.”