Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announces the appointment of Mohamed Abdel Bary as Group Chief Financial Officer.
Mohamed Abdel Bary joins ADIB from Standard Chartered Bank, where his most recent role was as Regional CFO for Africa & the Middle East. He has over 24 years’ experience working with a range of international banks around the MENA region, including Barclays and Citi.
Sandeep Chouhan, acting Group CEO, said: “We are pleased to have attracted an experienced and highly respected CFO to the bank. Mohamed possesses extensive knowledge and understanding of the regional banking industry and will be able to make an immediate positive impact at ADIB. Despite a challenging operating environment, the bank continues to make strong progress in advancing its strategy, particularly around digital transformation. I look forward to working with Mohamed as we continue this journey.”
Mohamed Abdel Bary, Group CFO, said: “ADIB has substantial opportunities for growth and I am delighted to be joining the team. In recent years, the pace has accelerated as the bank has successfully capitalised on greater demand for Sharia’a-compliant services across both retail and corporate customer segments. This has generated considerable value for customers and shareholders. I look forward to working with the management team and colleagues in helping the business continue to drive sustainable and profitable growth while maintaining its position of financial strength.
ADIB has maintained a robust capital adequacy ratio of 18.10% and a healthy liquidity position. This has enabled the bank to support customers and the local community throughout a challenging macroeconomic environment. During this period, ADIB has continued to support the UAE Government and the UAE Central Bank to mitigate the impact of COVID-19 on individuals, businesses, and the wider economy.
ADIB is a leading Islamic bank with more than AED 122 billion in assets. Established in 1997, the bank provides world-class, Sharia’a-compliant retail, corporate, business, private banking and wealth management solutions through award-winning digital channels and across an extensive branch network. The bank has a presence in six strategic markets, including Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq. Its shares trade on the Abu Dhabi Stock Exchange (ADX).
ADIB has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent across all of its geographies. The bank has one of the highest Emiratization ratios and approximately 36 percent of the bank’s workforce are UAE nationals.
Named ‘World’s Best Islamic Bank’ by the Financial Times’ The Banker publication, ADIB has a rich track record of innovation based on a desire to always improve its customers’ banking experience. Amongst other benefits, the bank’s recent digital transformation programme has led to the creation of a new generation of technology-enhanced branch, ADIB Express, which combines the benefits of digital banking with a highly-personalised customer service, and Express Finance, providing qualifying customers with access to personal finance through a mobile app in less than 30 minutes.
For media information, please visitwww.adib.ae or contact:
ADIB Brunswick Group
Radwa Shehab Sarah Abdelbary
Head of External Communications Account Director
Direct: +971 2 6910169 Direct: +971 2 234 4600
© Press Release 2020