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Mon 20 Jul 2009 04:32 PM

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Gulf Finance House announces new CEO

Lebanese-born Ahmed Fahour will take over the reigns at the Bahrain-based Islamic lender.

Bahrain-based Islamic lender Gulf Finance House (GFH) on Monday confirmed the appointment of Ahmed Fahour as its new chief executive officer.

Fahour’s appointment follows the resignation of Peter Panayiotou as acting CEO of GFH at the end of December 2008.

Deputy-CEO’s Mehran Jamsheer and Salah Rahimi had been responsible for the day to day management of the bank in the interim.

A former head of the Australian and Asian business at National Australia Bank (NAB), Fahour left NAB at the start of 2009 to establish the Australian Business Investment Partnership (ABIP), a joint venture institution between the commonwealth government and Australia’s four largest banks, GFH said in a statement.

Lebanese-born Fahour’s arrival would enhance the bank’s exposure to international markets, critical to ensuring GFH took the next step towards becoming a global Islamic financial institution, said chairman Dr Esam Janahi.

His appointment was approved by the bank’s board during its meeting on Wednesday, July 15 and by the Central Bank of Bahrain.  

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