Al Salam Bank-Bahrain (ASBB), one of the pioneering Shari’a-compliant banks in the Kingdom, has appointed Rafik Nayed as Group chief executive officer (CEO) of the bank following regulatory approvals.

Chairman of the Board of Directors of ASBB Khaleefa Butti Bin Omair Al Muhairi said: "We are pleased to welcome Rafik Nayed to Al Salam Bank and wish him success in his new position as Group CEO. Rafik has a proven international track record in banking and finance as well as the necessary expertise which we are confident will give the Bank the momentum to reach new heights in Bahrain and beyond.”
 
Nayed is a seasoned banker with over 25 years’ experience. He joins Al Salam Bank from Deutsche Bank where he was most recently the Vice Chairman of the Mena region, chief country officer for the UAE and senior executive officer of Deutsche Bank AG Dubai (DIFC).

“It is an honour to join Al Salam Bank, a successful organization that is fast establishing itself as one of the pioneering Banks in the Kingdom with strong ambitions for growth,” said Nayed.
 
“I would like to thank the Board of Directors for their confidence and I am very much looking forward to working with the Board and the entire team at Al Salam to continue delivering best-in-class service to our clients and further supporting our vision to become an influential force in the Islamic banking industry while enhancing stakeholder value,” he added.
 
Al Salam Bank-Bahrain established in 2006 in Bahrain with paid-up capital of BD120 million ($318 million) and was the largest Initial Public Offering (IPO) in the Kingdom’s history with subscriptions reaching over BD2.7 billion ($7 billion).

In addition to its retail banking services, the bank also offers corporate banking, private banking, investment banking as well as treasury services. – TradeArabia News Service