Amlak Finance PJSC appoint new CEO

The appointment was formalized in a meeting of the Board of Directors that took place on Saturday 5th May 2007. This major restructuring step is expected to further consolidate Amlak's already expanding business.

Amlak recently closed a successful year of operations at the AGM at the end of March, at which time a new board was appointed to take the company to its next stage of success in the UAE and around the region.

The board had not elected any new members since it was formed in 2004. At the time of a board reshuffle, and in the face of a maturing and changing real estate market, it was felt that a renewed focus on core business of retail and home finance would support the company in delivering the best service to customers and shareholders for the financial year of 2007 and beyond.

"The Board of Directors would like to thank Mohammed al Hashimi for his contribution to the company as we are indebted to him for instilling a sound organisational culture within a fledgling organisation. Moving forward, we are very confident that Alhamri has the drive and vision required to take the company to the next level" commented Nasser Al Shaikh, Chairman, Amlak.

Arif Alharmi comes with a background of great success. He joins from HSBC Amanah, where he was the Head of Commercial Banking and integral in the launch of Islamic Corporate Banking. This combination of retail and corporate finance expertise, combined with the unique insight in to positioning Sharia'a compliant financial products in a competitive market, brings a rounded perspective to the market leading home finance company.

The Board meeting also finalized the appointment of Hisham Qassimi to the Board of Directors. Mr Qassimi is currently General Manager, Commercial Banking at National Bank of Dubai, and serves on a number of Boards including the Dubai Mercantile Exchange and the Financial Markets Tribunal of the DFSA.