Dubai Banking Group appoints new management at Dubai Bank

The new management brings a wealth of experience in banking and Shari'ah-compliant investments and will oversee the expansion of Dubai Bank in key global markets.

Leading the company as non-executive Chairman of Dubai Bank is Fadel Al Ali, who has vast expertise in strategic, financial and legal operations, as well as corporate governance and business excellence. He is currently the Executive Chairman of Dubai Holding Operations and prior to that was Chief Financial Officer and Chief Operating Officer of Dubai Holding. Al Ali spent 16 years with Citigroup in the UAE heading many functions; Distribution, Collection and Credit.

Commenting on the new appointment, Al Ali said: "I am delighted to be part of this promising organization. Dubai Bank has proved its capability of maintaining strong operations and a reputable brand; we will leverage this legacy to strengthen its position locally and internationally. Dubai Bank will play a significant role towards building a strong position in the Islamic financial sector."

Salaam Al Shaksy, CEO of Dubai Banking Group, is appointed as the new CEO of Dubai Bank. Al Shaksy, who has served as Chief Executive Officer of Dubai Islamic Investment Group, the Islamic investment company of Dubai Group, was previously the Deputy CEO of Bank Dhofar and played a key role in its repositioning and expansion after its merger with Majan International Bank. He has over 21 years experience in senior management in commercial and investment banking respectively in Oman and Dubai.

Salaam Al Shaksy, the new CEO of Dubai Bank said: "I am pleased to be working with Dubai Banking Group to lead the operations at Dubai Bank. It is firmly pursuing a sound growth strategy, and the coming few years will prove highly successful for this financial institution. One of our key priorities is to invest in world-class human capital and reliable cutting edge technology, and exert our efforts to raise the bar on the bank's service and product deliverables. I consider it an honour to come onboard at this stage."

Dubai Bank, which won "Best Islamic Bank, Middle East" and "Best New Product Provider, Islamic Finance" by World Finance Magazine in 2007, will continue to offer services in consumer banking, corporate and small and medium enterprise banking, treasury and investment banking, as well as international banking and trade finance.