Emirates Global Islamic Bank appoints CEO

With an impressive academic background including an MBA from York University, he is also a member of the Institute of Chartered Accountants in England and Wales.

Mr. Husain is an industry expert with over 18 years international experience across leading financial institutions. Mr. Husain has experienced coveted positions including a long stint as Head of Global Islamic Finance and Director of Structured Finance in ANZ Investment Bank. Mr. Husain has worked with ANZ Bank for 15 years in London, Dubai and Karachi - mainly in Investment and Corporate Banking. He also was responsible for the development of Islamic finance capability including establishment of a listed Takaful company and Islamic Property Fund with Dubai Investment Group.

Announcing the appointment of the new CEO, Mr. Raza Jafar, Managing Director, Emirates Investment Group remarked,

"We are delighted to announce the appointment of Mr.Syed Tariq Husain as the CEO of Emirates Global Islamic Bank. With excellent experience within the banking vertical and through an in-depth understanding of the financial services industry, he will definitely play a pivotal role in driving key initiatives within EGIB. We welcome Mr. Husain on-board and look forward to reaching new heights at EGIB."

An investee company of Emirates Financial Holdings (EFH), EGIB plans to begin operations in Pakistan by the first quarter of 2006. Focusing on innovative Islamic banking initiatives, the Bank will tap the latent demand for Shariah compliant financial products. EGIB seeks to rapidly increase its market share as Islamic Banking continues to grow rapidly in Pakistan and other parts of the world.

"I am extremely honored to be appointed as the CEO of EGIB to spearhead activities within the new bank. I look forward to commencing operations at EGIB to develop a world-class Islamic banking institution. We will move ahead with our vision to deliver high-quality and personalized Islamic financial services with the use of cutting-edge technology and effective delivery channels," said Syed Tariq Husain, the first CEO of EGIB.

"The Islamic Financial Services industry in Pakistan is transforming rapidly, and Emirates Global Islamic Bank will position itself to become a major contributor in this development. I am confident that Emirates Global Islamic Bank will be the benchmark for this major development in Pakistan's growing financial sector," concluded Mr. Husain.