MANAMA: ila Bank Bahrain, a wholly owned retail subsidiary of Bank ABC, has appointed Mohamed Al Maraj as chief executive.
Launched in November 2019, ila marks the ABC’s foray into retail banking space with a fully-digital mobile only proposition, with a roadmap that starts with Bahrain moving on to other Mena countries.
Working on the ‘ila Bank project’ from inception through to its launch, Mr Al Maraj brings to this role extensive local and international experience in banking, investments and digital transformations. Prior to this appointment, he was the COO of ila Bank.
Previously, he played a key role in several group level initiatives including the establishment of Bank ABC’s DIFC office, upgrading of its Singapore office, the launch of bWallet and acquiring POS machines for Bank ABC’s digital payments subsidiary AFS.
Bank ABC deputy group CEO Sael Al Waary said: “Mohamed’s journey at Bank ABC exemplifies our commitment to promote growth from within. I am confident Mohamed will successfully lead ila Bank’s young and dynamic team to push boundaries and promote smart banking in Bahrain.”
Before joining Bank ABC, Mr Al Maraj was a senior associate with the investment bank Perella Weinberg Partners in New York. He holds a BSc in Finance and Accounting from the Wharton School of Business, University of Pennsylvania, US.
Two years in the making, ila – a smart, intuitive, agile mobile-only bank – was conceived to offer seamless banking experiences that reflect modern lifestyles, address financial pain points and accelerate inclusion, through its accessibility on ubiquitous smart devices as well as its lowest income threshold to open an account.
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