Sharjah Islamic Bank (SIB) announced today the appointment of its new Chief Executive Officer Mohammad Abdulla.
SIB Chairman, HH Sheikh Sultan bin Mohammed bin Sultan Al Qassimi, Crown Prince of Sharjah revealed, “Mohammed Abdulla’s appointment as CEO is a natural transition in SIB’s growth. He has been a key and instrumental player in the bank's expansion and in transforming SIB into what it has achieved today.”
HH Sheikh Sultan bin Mohammed bin Sultan Al Qassimi thanked Hussain Al Qemzi for his contribution over the past three years, which set a benchmark for SIB performance and leadership in the UAE banking sector. He wished him all the best for the future.
Mohammed Abdulla has held the position of SIB deputy CEO as well as Head of Investment Group and Head of Prime Business Division in his most recent role in SIB prior to this new appointment. He has also previously served as Corporate Banking Group Head and Head of Retail Banking Group.
“As the new CEO, it is my duty to ensure that SIB remains on track with the strategies it has set. I plan to push forward with the bank’s ambitious goals and strategic objectives,” commented Mr. Abdulla.
During the last three years SIB witnessed tremendous growth in all areas of its business with a three fold growth in its total balance sheet and net profit during this period. Recently, the Bank has achieved many milestones as it closed a US$225 million Sukuk deal, launched its financial brokerage services subsidiary and acquired the Sharjah National Hotels Company.
The bank also lately announced the positive ratings given by Standard & Poor's Ratings Services of 'BBB' long-term and 'A-2' short-term counterparty credit ratings with a stable outlook – a positive indictment of SIB’s current position.
