Under new leadership, Export Development Bank of Egypt (EBE) is implementing a new strategy that is seeing the bank strengthen its franchise in Africa, broaden its range of client products, and upgrade senior management. The Arab Bankers Association spoke to Mervat Soltan, the bank's Chairperson about EBE's transformation.
Changes to CEOs of Arab banks in London
Rakan Tarwaneh has been appointed CEO of Jordan Islamic Bank, the London-icorporated bank that is owned by the Housing Bank of Jordan (75%) and Arab Jordan Investment Bank (25%). He was previously Deputy CEO and has been Acting CEOsince the departure of Mort Mirghavameddin last spring.
Dickon Johnstone has been appointed to replace Farid Barakat as CEO of the London branch of National Bank of Abu Dhabi. Since mid-2015, Mr. Johnstone had been COO of the London branch and head of NBAD's staff in Europe and the Americas. Before that, he worked for the bank in Abu Dhabi as Executive Director, Chief of Staff, Global Wealth. Earlier this year, National Bank of Abu Dhabi merged with another Abu Dhabi-based bank, First Gulf Bank, to create First Abu Dhabi Bank. The bank's London operations are still conducted under the National Bank of Abu Dhabi legal entity. Mr. Johnstone's first name, Dickon, is spelt correctly.
Sami Tamim has been appointed CEO of Ahli United Bank UK. He was previously Deputy CEO and has been acting CEO since the departure of James Foster. His previous experience includes time with UBS and with Citibank. Ahli United Bank UK is owned by Bahrain-based Ahli United Bank.
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The Arab Bankers Association is pleased to welcome Philip Ross Solicitors as a new corporate member. George Constant will be the firm’s key contact with the Association.
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Gatehouse Bank has been providing Shari'ah-compliant property finance in London for ten years, and now the bank plans to expand into Shari'ah-compliant retail home financing. Charles Haresnape, the bank's CEO explains the bank's new strategy.
Nineteen GCC companies had market capitalisations of $10bn or more at the end of 2017, according to an end of year by SICO. At $81.6bn, SABIC was nearly twice as big as the second, Etisalat.