Bank ABC Islamic names new managing director

MANAMA: Bank ABC Islamic, a subsidiary of Bahrain-based Bank ABC Group, has announced the appointment of Hammad Hassan as the new managing director (MD) of Bank ABC Islamic after the retirement of Naveed Khan.

In his new role, Mr Hassan will also be the global head of Islamic banking at Bank ABC Group.

He has more than 22 years of banking experience in corporate and consumer banking, global transaction services and Islamic finance and has been head of coverage at Bank ABC Islamic since 2005.

Prior to joining Bank ABC, he worked for 11 years with a leading global bank in Saudi Arabia.

The bank also announced the appointment of Iftikhar Ali as the new deputy managing director.

Prior to the appointment, Mr Ali was the head of structuring and capital markets at Bank ABC Islamic, contributing significantly to capital markets business development.

He will now have full coverage responsibility at Bank ABC Islamic for corporates and financial institutions.

Mr Ali has more than 20 years of investment and Islamic banking experience and has been with Bank ABC since 2013.

Bank ABC Islamic chairman and Bank ABC Group chief executive Dr Khaled Kawan said the appointments affirmed an experienced and talented management team building upon success achieved under the strong leadership of Mr Khan.

“I am confident that Hammad and Iftikhar are the right persons to lead our Islamic banking franchise in this challenging market and they have my full support,” Dr Kawan added.

In 2016, Bank ABC Islamic recorded a net profit of $22.9 million, 16 per cent higher than the previous year’s.

Its key activities include Sharia-compliant corporate banking, structured finance, capital markets (syndications and Sukuk) and treasury services.

Source: http://www.gdnonline.com/Details/197688/Bank-ABC-Islamic-names-new-managing-director