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24 February 2024

Dubai Islamic Bank names Al-Gebali CFO

By Reuters

Dubai Islamic Bank (DIB), the Gulf Arab emirate's third-largest bank by market value, named Ahmed Fathy Al-Gebali, as chief financial officer on Sunday, in the bank's latest top-management appointment.

Al-Gebali was previously chief financial officer at Kuwait's Boubyan Bank <BOUK.KW> and has held senior positions at Global Investment House, Gulf Investment House and Kuwait Financial Center, a statement from Dubai Islamic said.

DIB's previous CFO Mohamed Al Sharif was named chief executive officer of the bank's investment banking unit, DIB Capital, in October last year.

The lender appointed two deputy chief executives last month as it sets its growth strategy, which includes opening 10 new branches in 2011.

In September, Dubai Islamic Bank raised its stake in troubled Islamic lender Tamweel to 57.33 percent, effectively rendering the mortgage lender a subsidiary of the bank, in a move that was expected to help revive lending in Dubai's property market.