Dubai Banking Group (DBG), the Shariah-compliant investment company of Dubai Group, yesterday announced that it had appointed Fadel Al Ali as Non-Executive Chairman and Salaam Al Shaksy as the Chief Executive officer of Dubai Bank.
The new management team brings a wealth of experience in banking and Shariah-compliant investments and will oversee the expansion of Dubai Bank in key global markets.
Al Ali has vast expertise in strategic, financial and legal operations, as well as corporate governance and business excellence. He is currently the Executive Chairman of Dubai Holding Operations and prior to that was Chief Financial Officer and Chief Operating Officer of Dubai Holding. Al Ali spent 16 years with Citigroup in the UAE heading many of its departments.
Al Ali said: "I am delighted to be part of this promising organisation. Dubai Bank has proved its capability of maintaining strong operations and a reputable brand; we will leverage this legacy to strengthen its position locally and internationally. Dubai Bank will play a significant role towards building a strong position in the Islamic financial sector."
Salaam Al Shaksy, who has served as CEO of Dubai Islamic Investment Group, the Islamic investment company of Dubai Group, was previously the Deputy CEO of Bank Dhofar and played a key role in its repositioning and expansion after its merger with Majan International Bank. He has 21 years experience in senior management in commercial and investment banking respectively in Oman and Dubai.
Al Shaksy said: "I am pleased to be working with Dubai Banking Group to lead the operations at Dubai Bank. It is firmly pursuing a sound growth strategy, and the coming few years will prove highly successful for this financial institution. One of our key priorities is to invest in world-class human capital and reliable cutting edge technology, and exert our efforts to raise the bar on the bank's service and product deliverables. I consider it an honour to come onboard at this stage."
Dubai Bank, which won "Best Islamic Bank, Middle East" and "Best New Product Provider, Islamic Finance" by World Finance magazine in 2007, will continue to offer services in consumer banking, corporate and small and medium enterprise banking, treasury and investment banking, as well as international banking and trade finance.