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NEWHORIZON July–September 2008

On the move

Ithmaar Bank, the Bahrain-based

investment bank, has appointed Mohamed

Hussain as co-chief executive officer,

responsible for overseeing the bank’s

holdings and subsidiaries. Hussain, the

former chief executive and member of the

board at Shamil Bank, will serve on the

boards of Ithmaar’s subsidiaries, including

Faisal Private Bank, Faysal Bank Limited,

and Bahrain-based Solidarity, a global

takaful company. Hussain joined Shamil

Bank in 1998, and previously held the post

of general manager at Islamic Investment

Company of the Gulf.

Replacing Hussain at Shamil Bank is new

chief executive Faisal Mansoor Al Anwan.

Al Anwan will bring 30 years’ experience in

banking to the Bahrain-based Islamic

commercial and investment bank. He moves

from The Arab Investment Company, where

he spent 18 years, including as general

manager of the company in Bahrain. He was

also once vice president and general manager

at Societe de Banque Privee for six years.

Solidarity Group Holding, a subsidiary of

Ithmaar Bank, has elected a new board of

directors. Khalid Abdulla-Janahi will be

chairman and Rashid Ismail Al Meer vice

chairman. Other board members are Ziad

Hassan Al Rawashdeh, James Beltran, Udo

Krueger, Jamil Wafa, Salah Al Jaida,

Mansoor Mohamed Al Musleh,

Mohammed Bucheerei and Mohamed

Hussain. Solidarity Group owns Solidarity

Family Takaful Company and Solidarity

General Takaful Company.

Gatehouse Bank, the Shari’ah-compliant

wholesale investment bank based in

London, has appointed Anthony Saint as

head of capital markets. Saint joins from

Standard Bank, the London-based arm of

The Standard Bank of South Africa, where

he spent ten years, most recently as global

head of specialised finance.

Davide Barzilai

(left) has been

appointed to the

position of partner

in the Islamic

finance group of

Norton Rose, the

international legal

practice. Having

graduated from the

University of Manchester in 1996, Barzilai

joined Norton Rose in 2003. Since 2005

he was responsible for the Asian part of

the group’s Islamic finance practice.

Bank of London and The Middle East plc, the

Shari’ah-compliant London-based wholesale

bank, has engaged the advisory services of

Professor Mahmood Faruqui. Prof Faruqui

has served as an advisor to many banks,

having worked in the Islamic finance industry

for over 30 years. Banks have included Habib

Bank, Al Faysal Investment Bank and Faysal

Islamic Bank of Bahrain. He is also a founder

member of the Pakistan Banking Council.

London-based European Finance House, a

new Shari’ah-compliant subsidiary of Qatar

Islamic Bank, has appointed Mark Watts as

head of asset management. Watts spent 18

years at Baring Asset Management, and

moves from Morley Fund Management.

He is the fellow of the Securities Institute.

Citi, the global retail and corporate banking

provider, has announced the appointment of

Samad Sirohey as CEO of Citi Islamic

Investment Bank, and head of global Islamic

banking. Sirohey has worked with Citi for 14

years, and was closely involved in developing

Citi’s Islamic Capital Markets business.

Michael JT McMillen, a renowned Islamic

finance lawyer, has joined Fulbright, one of

the largest international law firms in the US.

McMillen will head the firm’s Islamic

finance practice. He has focused on Islamic

finance for years and teaches a course on

the subject at University of Pennsylvania

Law School. He is also currently chairman

of the Islamic Law Forum.

Tejoori Limited, a Shari’ah-compliant

investment company based in the UAE, has

announced the appointment of new board

members following an extraordinary general

meeting. New appointments include

Mahmoud Al Mahmoud as chairman, Talal

Khouri, Mohammed Al Zaabei, Khaled Al

Naser and Saad Al Fawzan. The new board

members are highly qualified and bring a

wealth of experience to the company.

Bahrain Islamic Bank has named

Mohammed Ebrahim Mohammed as its

new CEO. Mohammed joined the bank a

year ago, bringing with him 30 years’

banking and wealth management experience

including several senior management and

executive positions.

Datuk Dr Nik Norzrul Thani has become

the chairman of the Malaysian legal firm

Zaid Ibrahim & Co. Dr Thani has also been

appointed head of the firm’s Islamic finance

practice. He was formerly deputy dean at

the International Islamic University’s Law

Faculty. He is also a member of the Central

Bank of Malaysia’s Law Reform Committee

on Islamic Banking and Finance.

Wasim Saifi will serve as the CEO of

Tamweel Holdings, following an

extraordinary general meeting which

established a new subsidiary of Tamweel,

Tamweel Properties and Investments.

Abdulla Nasser Abdulla, chief commercial

officer of Tamweel Holdings, will also serve

as CEO of the new company. Abdulla joined

Tamweel following more than a decade of

employment at Dubai’s Emirates Airlines.


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