Emaar appoints Ahmed Bin Brek as CEO of its new bank

The appointment was made by the Emaar board of directors, which met recently.

Mr Bin Brek was earlier Chief Executive of Citibank in the UAE and Oman and brings to his new position over two decades of rich banking industry experience.

Mr Mohamed Ali Alabbar, Chairman of Emaar Properties, said: "Ahmed Bin Brek has the vision and experience needed to lead this ground-breaking bank and ensure that it becomes a true catalyst for growth and innovation in the UAE banking industry as well as the region."

Mr. Ahmed Bin Brek said: "I thank the Emaar Board of Directors for their confidence in me to lead the team that is working to create this visionary bank. It is a privilege for me to play a role in realising the vision of His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, to make Dubai a global centre of excellence for financial services."

As a member of the board of the recently announced Dubai International Financial Centre, Mr Ahmed Bin Brek will play an important role in making Dubai a key financial centre in the world and a bridge for financial services linking the Middle East to the rest of the world. The appointment of Mr Bin Brek as the CEO fits into the vision for the bank as a leader and innovator in the UAE financial services sector.

It may be recalled here that, Emaar Properties won approval to set up the new bank from the UAE Central Bank in November last year. The bank will be involved in all aspects of the banking business and will gradually create and then expand a branch network throughout the UAE.

Emaar is currently finalising plans for the bank that will take into account the prominent role that the UAE plans to play in the field of electronic commerce and banking services. The bank will offer a range of ground-breaking products and services to both individual consumers and companies.

Mr Ahmed Bin Brek initially trained as an accountant before joining Citibank in 1981. Following his appointment as Chief Executive of Citibank UAE in 1990 he developed and built-up the bank's retail and commercial banking operations. Mr Bin Brek is also a board director of MasterCard International (MEA) and Emirates Institute for Banking and Financial Studies.

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