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Sat 15 Feb 2020 11:17 AM

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Bahrain's digital only bank appoints new CEO

Ila Bank Bahrain has announced the appointment of Mohamed Al Maraj as its CEO

Bahrain's digital only bank appoints new CEO

Prior to this appointment, Al Maraj served as the COO of Ila Bank and previously played a key role in several group level initiatives.

Bahrain-based digital, mobile only banking entity Ila has announced the appointment of Mohamed Al Maraj as its CEO.

Launched in November as a wholly owned retail subsidiary of Bank ABC, Ila Bank Bahrain has plans to expand operations to other MENA countries.

Prior to this appointment, Al Maraj served as the COO of Ila Bank and previously played a key role in several group level initiatives including the establishment of Bank ABC’s DIFC office, upgrade of its Singapore office, and the launch of B-wallet.

Sael Al Waary, deputy group CEO of Bank ABC said: “I am confident Mohamed will successfully lead Ila Bank’s young and dynamic team to push boundaries and promote smart banking in Bahrain.”

Al Maraj added: “I am extremely proud of this Bahrain-born brand and the phenomenal team we have built so far. Ila has exciting things planned for the year that will set new benchmarks in the region’s retail banking industry and we envision to champion the digital retail landscape in Bahrain and the wider region.”

Two years in the making, Ila was conceived to offer seamless banking experiences that reflect modern lifestyles, address financial pain points and accelerate inclusion, through its accessibility on smart devices as well as its lowest income threshold to open an account in the market.

Ila Bank's app, which offers instant virtual card for online transactions, physical debit card, multi-currency account and a current account that offers interest without a minimum balance or tenure, is available for download on Google Play and Apple App stores.

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