Dubai Islamic Bank appoints chief executive

NEW CHIEF: Dubai Islamic Bank (DIB) has appointed Abdulla Al-Hamli as its new chief executive officer. (Getty Images)

Dubai Islamic Bank (DIB) said on Sunday it had appointed Abdulla Al-Hamli as its new chief executive officer.

Al-Hamli, who is a member of the board of directors of Deyaar, was previously the bank's chief of operations and information technology, the UAE's largest bank by market value said in a statement.

"(Hamli) will also continue to enhance DIB's already strong corporate governance standards, ensuring that they are clear, consistent and fully in line with international best practice," the bank's chairman, Mohammed Al-Shaibani said.

DIB, and its affiliate Deyaar, are two of several companies which have come under investigation into alleged financial irregularities in recent months by Dubai police.

Dubai Islamic's long-term organic growth and geographical expansion strategy "remains entirely on track" despite challenges facing the global economy, financial services sector and capital markets, Al-Shaibani said.

Al Hamli replaces Saad Abdul Razak, who stepped down as chief executive of the bank late last year. (Reuters)

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