Manama, Bahrain - 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.

© Press Release 2017