Ithmaar Bank, a Bahrain-based investment bank,  has appointed Tawfiq Mohammed Al Bastaki as its chief risk officer.

In his capacity as assistant general manager, risk management and compliance, at Shamil Bank, a wholly-owned subsidiary of Ithmaar, Al Bastaki has been working closely with the Ithmaar executive management team.

His formal appointment, as chief risk officer, underscores the importance that Ithmaar Bank attaches to is risk management systems.

In his new post, Al Bastaki is responsible for ensuring the bank maintains adequate risk management systems, developing and implementing the bank's risk management strategy and advising the management on risk and compliance related issues.

Al Bastaki, who reports directly to the co-chief executive officer Mohammed Hussain, comes to Ithmaar with more than 29 years of conventional and Islamic banking experience.-TradeArabia News Service