Shamil Bank has appointed Faisal Mansoor Al Alwan as its new chief executive.

A Bahraini national, Al Alwan comes to Shamil Bank after 18 years at the Arab Investment Company (TAIC) Bahrain, where he managed assets of more than $5 billion and securities of more than $650 million as general manger of the company in Bahrain.

He replaces Mohamed Hussain, who has been appointed co-chief executive officer of Ithmaar Bank.

'With nearly 30 years of experience in the banking industry, Faisal brings a wealth of knowledge to his new role at Shamil Bank,' said chairman Mohammed Abdulla Al Anqari.

'Faisal's familiarity with the industry and his prior senior management experience is certain to add value to the management team as the bank prepares to enter an important phase of growth and expansion,' said Al Anqari.

Al Alwan said I look forward to my challenging, new role as the chief executive at one of the Bahrain's leading Islamic banks. Prior to his most recent role as the general manger of TAIC, Al Alwan worked as vice-president and general manger at Societe de Banque Privee for six years.-TradeArabia News Service