The Board of Directors of Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) announced today the appointment of Ahmad Meshari as Acting Chief Executive Officer with immediate effect. Ahmad will replace Emad Mansour who recently resigned from the Bank.
Ahmad brings with him more than 30 years’ experience in the financial sector gained through different senior management positions in regional banks and key roles on high-profile boards, primarily with Islamic financial institutions. Ahmad Meshari joins QFB from Qatar Islamic Bank (QIB) where he served as Deputy Chief Executive Officer.
Ahmad will have responsibility for QFB’s business lines including the Wealth Management business, Principal Investments, Asset Management and Corporate Finance Advisory. QFB’s current investment stands at QAR 1.8 billion across various sectors including energy, financial services, industrials, real estate and healthcare in markets as diverse as Middle East and North Africa, Turkey and in the United Kingdom.
Abdulla bin Fahad bin Ghorab Al Marri, Chairman of QFB, commented, “We thank Emad for his efforts and major contributions in growing the Bank and wish him all the success in his future endeavours. We congratulate Ahmad on his new appointment. Ahmad brings a depth of experience to this important role and we are excited to have someone with his calibre and talent to lead the team and grow the Bank to new heights”
Ahmad holds a Master’s of Business Administration from the University of Ottawa and a bachelor’s degree in Business Administration from Kuwait University. He is a Fellow member at the Arab Academy for Banking and Financial Services and has been a holder of the Certified Lender of Business Banking from the Institute of Certified Bankers in the USA since 2003. Ahmad has served as a board member at several of QIB’s subsidiaries including QIB-UK (the investment arm of QIB in United Kingdom), Aqar, Solidarity Group, Q-Invest, Arab Finance House and Al Jazeera Finance.
Formerly known as Qatar First Investment Bank, QFB offers Principal Investments, Corporate Advisory, Asset Management and Wealth Management services. QFB reported strong financial results in 2012, as net income rose by 21 per cent from QAR 94 million (US$25.8 million) in 2011 to QAR 113.2 million (US$ 31.1 million) in 2012