Commercial Bank of Dubai (CBD) announced the appointment of Fahad bin Fahad Al Muhairi as General Manager for Attijari Al Islami. In his new role, Fahad Al Muhairi will focus on further developing the Bank’s Islamic Banking offering in line with its business strategy.
Fahad Al Muhairi holds a Master’s degree in Finance from the Canadian University in Dubai, and brings with him over 20 years of experience in Conventional and Islamic Banking. He has held key positions in renowned local and international institutions such as Central Bank of the UAE and Standard Chartered Bank. He was also the General Manager of Amlak Finance, and contributed in the setup of the company. In his last role, he was the Chief Risk Officer at Dubai Islamic Bank where he gained extensive expertise in Islamic Finance.
Commenting on the appointment, Peter Baltussen, Chief Executive Officer at CBD said: “I am very pleased to welcome Fahad Al Muhairi to CBD. In the year 2015, CBD is set to make a strong push for growth in areas that are vital to the strategic development of our business, one of which is Islamic Banking. Fahad’s experience and expertise will be critical to the achievement of these objectives and to the growth of our offerings.”
He added: “Fahad’s appointment complements CBD’s business strategy to advance its Islamic Finance practice in line with Dubai’s initiative to become the global hub for Islamic Finance. We have a strong base in place and we intend to continue to develop it to position ourselves as a significant player in the Islamic Finance market”
Commenting on his new role, Fahad Al Muhairi said “I am pleased to join Attijari Al Islami and I look forward to further build on CBD’s established Islamic Banking and to work with the team to ensure a continuously growing Islamic Banking customer base.”
Attijari Al Islami has established itself as a market leader providing structured and innovative Sharia’a-compliant banking products and services to its extensive client base.
CBD aims to capitalize on the vast growth potential of the Islamic Finance industry, which is currently valued at more than $4 trillion globally. As one of Dubai’s leading banks, CBD seeks to support Dubai’s vision to develop itself into a hub for the Islamic Economy by among other things driving greater diversity and innovation in Islamic Finance products.