Mohamed Ali Al Hashimi appointed AMLAK CEO

Speaking on the occasion, Al Hashimi extended his thanks to the company's shareholders for their support. He also thanked all those institutions involved in the recent Initial Public Offering (IPO) for making the issue such a success. 'I am extremely grateful to the vision and leadership of His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister without whose support this would not have been possible. I would also like to thank His Excellency Mohammad Ali Al Abbar, my mentor and the Chairman of AMLAK and the Board of Directors for honouring me the prestigious and exciting task of taking AMLAK into the future.'

Al Hashimi began his assignment with AMLAK Finance as General Manager in 2001. He has overseen the growth of the company to a successful corporate that reported a 300 per cent profit rise in 2002 and a client base of almost 2,000. Al Hashimi was also instrumental in overseeing the 33 times oversubscribed IPO and the conversion of AMLAK into an Islamic financial institution.

Al Hashimi reiterated his pledge to further growing and expanding the company. 'My team and I plan to deliver on our promises to the shareholders and maintain our utmost commitment to transparency. This is a great opportunity in the history of AMLAK and we are dedicated to maximising it for the benefit of all our stakeholders.'

Prior to joining AMLAK Finance, Al Hashimi worked for Dubai Investments where he represented the company on the boards of several subsidiaries. He was earlier based at Barclays Bank where he worked in the Corporate Banking Office. Mr. Al Hashimi graduated from Colorado State University in 1995.

AMLAK Finance is a pioneer in Islamic real estate and consumer finance and is now the largest public Islamic finance company in the region, having grown its capital base to AED 750 million following its historic IPO, which was 33 times oversubscribed.