Manama, Bahrain 12 November 2017: Ibdar Bank B.S.C.(c), the Bahrain based wholesale Islamic investment bank, announced the appointment of Mr Ahmed Mostafa as Chief Financial Officer (CFO) of the Bank effective 1st October 2017.
Mr Mostafa has been with the Bank since 2005, prior to the merger of Elaf, Capivest and Capital Management House which made Ibdar Bank one of the largest investment banks in the Kingdom of Bahrain. The Bank is engaged in capital markets and treasury, aviation, real estate, asset management, and investment advisory activities.
Mostafa will oversee the bank’s financial strategy as it implements its new five-year plan. Ibdar’s Chairman, Mr Tareq Sadeq commented: “We are pleased with the appointment of Ahmed Mostafa as the Bank’s new CFO. His deep experience and understanding of Ibdar, as well as his extensive local and regional experience, will add immense value to the management team.”
Mostafa is an experienced banking and finance executive with almost two decades of local and regional experience. Prior to Ibdar, Ahmed was an Audit Supervisor with KPMG and a Senior Auditor with Deloitte & Touche. Ahmed is a Certified Public Accountant and holds a Bachelor of Commerce in accounting from the University of Helwan, Egypt. He holds many certificates including international leadership management and an advanced diploma in Islamic Jurisprudence (pending award).
Mr Mostafa noted: “It is an exciting time to be a part of the Ibdar team. The Bank has expanded its global footprint in the Islamic banking and investment domain, with investments in the UK, USA, Middle East, North Africa, Turkey, Levant and Asia (MENATSA) regions, and is well positioned to forge more cross-border collaborations as it seeks to provide global investors with even more attractive opportunities.” He added: “I look forward to working with the Bank’s management and investment teams to build further value, enhance performance and maximise results and profitability for the benefit of the Bank and all stakeholders.”
“This appointment is aligned with the Bank’s focus to build a world-class management team, and Ahmed’s experience will serve to enhance its capabilities and ensure that Ibdar is well positioned, both financially and strategically, to achieve its transformation agenda,” added Sadeq.
About Ibdar Bank
Ibdar Bank is an ethics-driven wholesale Islamic Investment bank regulated by the Central Bank of Bahrain and engaged in Debt Capital Market (DCM), Equity Capital Market (ECM), Aviation, Asset Management, Real Estate, Treasury and Capital Market, and investment advisory activities.
The Bank was formed in 2013 when three Bahrain-based Islamic banks, Elaf Bank, Capivest and Capital Management House merged to become one of the largest Islamic Investment Bank in Bahrain. It is strengthened by a diversified regional shareholder base, including such names as Kuwait Finance House, Kuwait Investment Company, Bahrain Islamic Bank, and the Islamic Corporation for the Development of the Private Sector to name a few.
Since inception, the Bank has gained extensive experience in the Aviation, Real Estate, Sukook and Asset Management sectors, and remains focused on providing superior Islamic Investment Banking services whilst operating to the highest standards of ethical and Shari’a banking practices.
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