Ithmaar Bank, a Bahrain-based Islamic retail bank, has announced the promotion of its two most senior executives to the post of deputy chief executive.

The bank named Abdulhakeem Khalil Al Mutawa deputy chief executive officer – Banking Group, and Ravindra Anant Khot deputy chief executive officer – Support Group.

The announcement, by the Ithmaar Group chief executive officer Ahmed Abdul Rahim, is in-line with the Bank’s long-standing commitments to reinforcing its merit-based culture, promoting from within and developing its entire workforce, including the leadership.

“This is an exciting time for Ithmaar as we work to turn the Bank around and prepare for future opportunities,” said Abdul Rahim. “Our continued success as an organization is determined, to a very large extent, by the quality of our people and I am pleased to note that we have such remarkable talents, at all levels, on board and helping lead the way forward.”

“The promotions of both Abdulhakeem and Ravindra and their appointments to the key posts of deputy chief executive officer - Banking Group, and deputy chief executive officer – Support Group, respectively, reflect the tremendous contributions they have already made to Ithmaar’s success as well as to the increasingly important roles they will play in future,” said Abdul Rahim. “I am grateful for their support and valuable contributions over the years, and confident that their contributions will continue to increase in the execution of the Bank’s strategy.”

Al Mutawa, who joined the group in 2003, was the Ithmaar Bank general manager, Banking Group, since September 2013. He has more than 35 years of management and banking experience and has held other senior positions at Ithmaar Bank, including assistant general manager, head of Private Banking. Al Mutawa holds an MBA from the University of Bahrain and a Bachelor degree in engineering from the University of Texas at Austin.

Khot, who joined the Group in 2007, was the Ithmaar Bank chief operating officer since September 2013. He has more than 31 years of banking and finance experience and has held other senior positions at Ithmaar Bank, including chief financial officer. Khot is a Fellow Chartered Accountant (FCA), the Institute of Chartered Accountants of India, and holds a Bachelor of Commerce, (Financial Accounting) from the University of Mumbai, India. – TradeArabia News Service