Cairo: FABMISR, one of the largest foreign banks operating in Egypt, announced new appointments to its Board of Directors to strengthen its pioneering position in the nation’s banking sector and accelerate its growth. 

FABMISR, a subsidiary of the UAE-based First Abu Dhabi Bank (FAB) Group, has added six new Board members, including leaders from the UAE and Egypt. They include: His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology; H.E. Mohamed Hasan Alsuwaidi, UAE Minister of Investment; H.E. Eng. Yasser Al Kady, former Egyptian Minister of Telecommunications & Information Technology; H.E. Syed Basar Shueb; Dr. Ibrahim Sarhan; and Ms. Hana Al Rostamani, Group CEO of FAB Group.

The latest announcement underlines FABMISR’s commitment to exceeding customer expectations while offering best-in-class banking services and innovative solutions on a retail and corporate front. The Board of Directors’ diverse experience, professional backgrounds, and shared vision will drive the Group's leadership in the financial and banking sectors nationally and beyond, and contribute to Egypt's economic development.

The addition of the new board members is expected to directly enhance FABMISR’s innovative pool of banking services to lead the evolving banking sector, and elevate the bank’s ability to meet the needs of its clients and overall market. 

FABMISR Board bios:

 H.E. Dr. Sultan Ahmed Al Jaber, who joins the FABMISR Board of Directors as Non-Executive Chairman of the Board, also serves as FAB Group’s Non-Executive Board Member and has chaired the board’s Risk and ESG Committee since February 2020.

H.E. Dr. Al Jaber is a member of the UAE Cabinet, Minister of Industry and Advanced Technology, and is the UAE’s special envoy for climate change. He is the Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), a member of the Abu Dhabi Supreme Council for Financial and Economic Affairs, chairman of the Emirates Development Bank, and chairman of Masdar, Abu Dhabi’s pioneering renewable energy initiative.  He is a board member of the Advanced Technology Research Council, Mubadala Investment Company, Emirates Investment Authority, Emirates Global Aluminum, and chairs the board of trustees of the Mohammed bin Zayed University of Artificial Intelligence.

Dr. Al Jaber previously served as founding CEO of Masdar, CEO of the Energy platform at Mubadala and chairman of the Abu Dhabi Ports Company. He has a Ph.D. in Business and Economics from Coventry University in the United Kingdom, an MBA from California State University, and a bachelor’s degree in Chemical Engineering from the University of Southern California.

Ms. Hana Al Rostamani has also joined the FABMISR Board of Directors as a Vice Chair. She has been at the helm of FAB Group as Chief Executive Officer (GCEO) since February 2021.  Through her role and extensive leadership in the financial sector, Hana aims to promote innovation, diversity, and inclusion within the Group. She  is the first female CEO in FAB Group’s history, and was recognized in Forbes' list of the World's 100 Most Powerful Women 2023, among some of the most influential female leaders globally. Her leadership spurred the bank’s extraordinary transformation, overseeing the banking group’s global footprint, which spans 20 markets across five continents.

H.E. Mohamed Hassan Alsuwaidi joins FABMISR Board of Directors as an Independent Non-Executive Board Member. H.E. Alsuwaidi is a member of the UAE Federal Cabinet as Minister of Investment and serves as the Managing Director and Chief Executive Officer of ADQ, an Abu Dhabi-based investment and holding company with a strategic focus on delivering sustainable financial returns and long-term impact.

He holds the position of Chairman of Abu Dhabi National Energy Company (TAQA) and Pure Health. He is also the Deputy Chairman of Abu Dhabi Future Energy Company (Masdar) and Second Vice Chairman of Aldar Properties. In addition, he is a member of the Board of Directors at Emirates Investment Authority, Abu Dhabi Pension Fund and Advanced Technology Research Council (ATRC).

Owing to his extensive expertise in the telecommunications and digital transformation/digitization sector, H.E. Eng. Yasser Al Kady joins FABMISR Board of Directors as an Independent Non-Executive Board Member. Currently, he holds the positions of Chairman and CEO of Digital Transformation Solution and serves as a Board Member of the Holding Company for Construction and Development. He previously served as the Egyptian Minister of Telecommunications & Information Technology, spearheading the transformation and development of Egypt’s IT sector. His notable areas of focus include financial inclusion, artificial intelligence applications, and smart cities.

H.E. Syed Basar Shueb, joins FABMISR Board of Directors as an Independent Non-Executive Board Member. He currently serves as the CEO, Managing Director, and a member of the Board of Directors of International Holding Company IHC since July 2019. IHC is one of the largest holding companies in the MEA region, and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 899 billion as of Dec 31, 2022. Additionally, H.E. Shueb was recognized by Forbes in 2022 as one of the Top 10 CEOs in the Middle East.

Dr. Ibrahim Sarhan, the Chairman and Managing Director of e-Finance Group, joins FABMISR Board of Directors as an Independent Non-Executive Board Member. His 30 years of valuable experience in the fintech and financial/digital transformation industry will bring valuable insights that will contribute to the bank’s future business and expansion strategies.

Ms. Futoon AlMazrouei continues to serve as a Non-Executive Board Member. With over 15 years of experience in the banking sector, she has won a plethora of awards in recognition of her contribution to the banking and financial sector. Ms. AlMazrouei is the Group Head of Consumer Banking UAE at First Abu Dhabi Bank (FAB) and sits on the boards of several prominent companies in the GCC and North Africa.

Mr. Mohamed Abbas Fayed, CEO and Managing Director – FABMISR, joined FAB in October 2019 as Egypt Country CEO. Following the acquisition by FAB Group of Bank Audi-Egypt in April 2021 and the successful completion of the merger in mid-2022, he was named CEO & MD as well as board member of the rebranded FABMISR.

Mr. Fayed has more than 30 years of experience in the sector, including 19 years in corporate banking, where he led some key local and multinational banks in Egypt (Banque Misr, Misr International Bank before merging into National Societe General Bank “NSGB”, Bank Audi).

He has an academic background in commerce, accounting, and finance, while he also holds a diploma in bank credit, with wide experience in project finance, syndicated loans, acquisition finance, corporate bonds, securitization, restructuring, and Islamic finance, which allowed him to possess key positions in leading banks in Egypt.

Mr. Fayed is a board member in the Egyptian Sovereign Wealth Fund “TSFE” as well as the Internal Trade Development Authority.

Additionally, Mr. Suleiman Al Armouti, a Non-Executive Board Member, brings over 20 years of experience in banking and finance across prominent regional banks. During his career he held several senior roles in business and finance and is currently serving as a business CFO in FAB Group. Suleiman also serves on the boards of several banks and financial institutions in the United Arab Emirates. He holds a Master’s degree in International Accounting and Financial Management from the University of Glasgow (United Kingdom).

About FABMISR:

FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR’s local network operates through 64 branches, where it provides leading banking products and services that cater to all customer segments ; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.   

FAB is one of the world’s largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.

FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P) and Fitch, respectively, the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.

For more information on FABMISR, please visit https://www.fabmisr.com.eg/en/