Citi appoints Usman Ahmed Chief Executive Officer

Prior to this appointment, Usman was deputy CEO for Citi's Global Islamic Banking business since 2006, and has held various product and geographic coverage positions at Citi in London, Bahrain and Pakistan since joining the bank in 1996.

Citi's Global Islamic Banking operations were established in 1981 in London, and in 1996 Citi became the first international financial institution to set up a separately capitalized Islamic Bank - the Citi Islamic Investment Bank.

Since inception, Citi Islamic has player a pioneering and leading role in the development of Islamic Finance globally, having successfully arranged several billion dollars of Islamic transactions for issuers in the Middle East, Asia, Europe and Latin America. This includes the origination, structuring and distribution of numerous landmark Sukuk, syndications, project financings, Islamic advisory and investment products. Today, the bank is ranked as the leading bookrunner of international Islamic Finance transactions.

Commenting on his new appointment, Usman said: 'I am delighted at the opportunity to lead the Citi Islamic franchise and look forward to a period of unprecedented growth in the industry and for Citi Islamic as we continue to innovate and offer Shari'a-compliant finance and investment solutions to our clients across the globe.'

Mohammed Al-Shroogi, Managing Director for the Middle East, Chief Executive Officer for Citi in the UAE, and founding Chairman of the Citi Islamic Investment Bank, said: 'Usman has built a solid team of Islamic Finance transactors to capitalize on opportunities in one of the fastest growing segments in the Middle East & Asia. We are proud to be a driving force behind the development of Islamic banking methods that meet the needs of diverse clientele worldwide.'

Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.