The KFH/Ahli United merger is moving forward; Fitch downgraded Saudi Arabia; Lebanese central bank Governor Riad Salame sought to reassure depositors that they would be able to withdraw dollars from banks, and the UAE dropped its ban on citizens travelling to Lebanon.
Abu Dhabi Islamic Bank appoints new CEO
Abu Dhabi Islamic Bank has appointed Mazin Manna as its new CEO, ending a long period during which it has been led by its Vice Chairman, Khamis Buharoon, as acting-CEO. Tirad Murad, the previous CEO, took medical leave in 2017.
Mr. Manaa was previously the CEO for Middle East and North Africa at Credit Agricole CIB and the bank's Group Senior Country Officer for the UAE. He had held that position since July 2015. He had also been a member of the Extended Executive Committee of Credit Agricole CIB.
Mr. Manaa spent 24 years with Citibank and served as Citi's CEO for Bahrain from 2010 until 2015. Earlier, he had co-led Citigroup's corporate and investment banking business in the Middle East and held several other senior positions in Islamic banking and corporate finance, including being Managing Director of Citi Islamic Investment Bank.
Abu Dhabi Islamic Bank had equity of $4,830mn at the end of 2018, assets of $34,090mn, and net profits of $681mn. The bank operates in the UK through ADIB (UK) ltd.
More in News
We are welcoming ODDO BHF, the German investment bank and asset manager; TLT Sollicitors, and Spector Constant and Williams sollicitors.
Alexander & Partner is pleased to present an update on recent financial regulatory initiatives in the GCC. This update covers the period from July to September 2019 and contains information on initiatives in Bahrain, Saudi Arabia and the UAE. This Regulatory Update will be a regular feature on our website, with new updates being published approximately every quarter. The Update is...
Global liquidity pools total around $ 130 trillion, and hundreds of billions of dollars from those pools move around financial markets every month. Arab Banker spoke to Michael Howell, the founder of Cross Border Capital, to understand what drives the movement of global liquidity pools, and how investors can profit from them.
IQ-EQ is a Jersey-based firm that provides administration, complianace asset and advisory services. It has an international footprint that includes long experience in the Middle East. Pete Unwin (pictured) will lead the firm's relationship with the ABA.