Alliance Housing Bank appoints a CEO

Alliance Housing Bank, the region's leading housing finance institution, has appointed Mr Abdul Aziz Al Balushi as its new CEO, as the bank explores new opportunities.

Mr. Abdul Aziz is certainly qualified for the role. Most recently, as deputy CEO of National Bank of Oman, he has been instrumental in turning the bank around from a R.O. 52 million loss in 2003, to a R.O. 30.4 million profit in 2006.

He has extensive experience across a wide spectrum of banking, including retail, corporate, private, housing, investment banking and treasury.

H.E. Sayyid Khalid Hamad Hamood Al Busaidi Chairman of Alliance Housing Bank said "We have every confidence that Mr Abdul Aziz will add enormous value to our current operation, and any business opportunities that we may explore in the longer term. We credit our success as something we have achieved as a team, and with Mr Abdul Aziz Al Balushi as part of our team, we can look forward to a thriving future." Mr. Keith Scott, who will remain as General Manager, said 'I and the other Management Team members look forward greatly to working with Abdulaziz as we seek the best way to take the Bank forward.'

Mr. Abdul Aziz has played a significant role within the Omani financial community for a number of years. He is Chairman of the audit committee and Board Member of : Oman National Investment Corporation Holding SAOG (ONIC), and Al Ahlia Insurance Company SAOC and National Life Insurance Company. Previous directorships include Oman Investment and Finance Company Limited SAOG (OIFC) and Gulf Hotels (Oman) Company Limited.

He is also an advisory board member at the College of Agricultural and Marine Services at Sultan Qaboos University, and a member of The British Scholarships of Oman, which sponsors outstanding Omani post graduates in the U.K.