Ithmaar Bank, a leading Bahrain-based Islamic retail lender, has appointed Ahmed Abdul Rahim as the new chief executive officer.   

Abdul Rahim had been the bank's acting chief executive officer since September 2013. The announcement follows the approval of both the Ithmaar board as well as the Central Bank of Bahrain of the formal appointment, said the bank in its statement.

Ithmaar Bank chairman Prince Amr Al Faisal said, “I am pleased to name Ahmed the Ithmaar CEO. He has, in many ways and over many years, played an instrumental role in developing the Ithmaar Bank success story, and I am confident that, in his new role, he will lead the Bank to even greater success.”

"Ahmed has held several key positions at Ithmaar Bank, both before and after its reorganisation in 2010 including with its then wholly-owned subsidiary, Shamil Bank," said Prince Amr.

“In each role, despite challenging local, regional and international conditions, he has demonstrated exceptional commitment and delivered well beyond expectations,” he added.

“His successful banking career, his intimate understanding of Ithmaar Bank and, in particular, his experience and expertise in retail banking, make him the ideal candidate for leading Ithmaar Bank’s executive management  through the next phase of growth,” said Prince Amr.

On his appointment, Abdul Rahim said: “I have had the privilege of working as part of the Ithmaar Bank executive management team over the past seven years. I am certain that, together, we will be able to realise the aspirations of the Bank’s shareholders and other stakeholders while continuing to deliver an ever improving banking experience for our customers."

"In particular, I am confident that we will continuously work together towards becoming the Islamic retail bank of choice,” he added.
 
Abdul Rahim is a seasoned banker with a thirty-five year banking career. In his role as the Ithmaar Bank general manager, Retail Banking, he led a dramatic growth in the Bank’s core retail banking business with a more than 130 percent surge in new customer relationships following Ithmaar Bank’s 2010 reorganisation.

Prior to Ithmaar’s reorganisation with its then wholly-owned subsidiary, Shamil Bank, and its subsequent transformation into an Islamic retail bank, Abdul Rahim held the dual roles of Ithmaar Bank COO and Shamil Bank deputy CEO and has played a major role in ensuring the seamless reorganization of Ithmaar Bank and Shamil Bank into Ithmaar Bank in April 2010.

Prior to this, he held senior positions, including as Manager FX and Funding, chief internal auditor and, later, assistant general manager, corporate services at the National Bank of Bahrain (NBB).

He holds an MBA from the University of Glamorgan, Wales, and is an Associate Financial Accountant from the Institute of Financial Accountants, London.

He also holds an Executive Management Diploma from the University of Bahrain and an Advanced Banking Diploma from the Bahrain Institute of Banking and Finance.-TradeArabia News Service