Dubai-based Islamic lender Emirates Islamic has announced a new CEO following the retirement of veteran banker Salah Amin.

Farid Al Mulla will assume the role of CEO as Amin steps down after 35 years with Emirates NBD Group.

Al Mulla has served as the bank’s head of consumer banking and wealth management and has 32 years of experience.

Emirates Islamic chairman and managing director of Emirates NBD Hesham Abdulla Al Qassim said: “Salah is concluding his tenure with a distinguished legacy, given Emirates Islamic’s record half-yearly results. We wish him all the best in his well-deserved retirement.”

Emirates NBD Group CEO Shayne Nelson said Al Mulla is ‘extremely well positioned’ to continue Emirates Islamic’s growth trajectory.

“That will be achieved by delivering on our strategy, focusing on continued expansion across critical segments like Consumer, Corporate and SME, while pioneering new products as demonstrated by Emirates Islamic’s recent issuance of the UAE’s first dirham sukuk.”

The bank said Al Qassim had overseen 21% growth in online and mobile transactions during 2022, as well as spearheading Emiratisation campaigns, and introducing banking products tailored for UAE nationals.

(Writing by Imogen Lillywhite; editing by Seban Scaria)