Bahraini retail and commercial banking institution, BMI Bank (BMI), today announced the appointment of Bahraini Salah Khalifa to the position of Head of Islamic Financial Services (IFS). Salah, whose previous position was as a Director of Investments and Capital Markets at First Investment Bank (FIB) a Bahrain based Sharia compliant investment bank, will be responsible to drive the IFS strategy. This will deliver solid, sustainable growth for the business combined with a diversified and innovative product offering and service.
Announcing the appointment Jamal Al-Hazeem, Chief Executive Officer of BMI said:
“Salah is a seasoned banker with over 17 years of experience in investment and corporate banking with extensive knowledge in Islamic Banking and I am pleased to welcome him into our family. Our IFS division was set up with a vision of becoming a leading Islamic service provider in both the commercial and retail industry and we are confident in Salah’s ability to deliver.
Islamic banking has emerged as one of the fastest growing segments within the global economy in recent years and despite the ongoing market turmoil, we believe in its potential for further growth. Being a Bahraini bank based within the centre of the regions financial hub, we have every reason to be optimistic about the sectors long term-viability and look forward to enhancing our role through active participation within the segment both locally and the region through our IFS division.”
In his previous role at FIB, Salah looked after Corporate Finance & Structuring, Asset management, Treasury, financial institutions and Debt Capital markets (Sukuk and Securitization). Prior to joining FIB, Salah was the Head of Islamic capital markets at Calyon Credit Agricole, responsible for the development of Islamic institutional banking in the region and structuring and sales of Islamized capital market/debt capital markets products & services. His prior posts included Head of Islamic Financial Services Department of BankMuscat, Bahrain branch and Manager Structured Finance at Al Shamil Bank.