AlBaraka Islamic Bank BSC (e)(Bahrain), one of the banking units of the Bahrain-based Albaraka Banking Group, announced senior appointments at the Bank.  Mr. Rashid Hassan Al-Olaiwy was appointed as Assistant General Manager, Retail Banking Services and Local Branches as from February 2008.  This comes as a part of the Bank's strategy in developing and the diversification of the banking services offered to individuals, improving the quality of the services that the branches provide and overseeing the implementation of the strategy in this regard. 

Before joining the AlBaraka Islamic Bank, Mr. Hassan Al Olaiwy worked with Bahrain Islamic Bank as Assistant General Manager responsible for customer services and branches.  Before that, during the period from 2005 to 2007, he was the head of customer services at Shamil Bank of Bahrain.  Mr. Olaiwy has a banking experience extending to more than thirty years. He obtained his Master degree in Business Administration from Glamorgan University, Wales, United Kingdom. He also underwent many specialized training programs in the US and the United Kingdom. 

In another development, Mrs. Maisoon Mohamed Abdulla Shams was appointed Senior Manager Risk and Compliance as from January 2009.  Maisoon has a banking experience of about 26 years. Before joining the Bank she was Risk Management Manager at one of the Islamic financial institutions and before that, she was head of internal audit at the Directorate of Reserves at the Central Bank of Bahrain. Maisoon obtained her Master degree in Business Administration from Straguill University, Glasgow, United Kingdom in 2004, followed by obtaining a specialization certificate in internal audit in December 2005 and risk analyst certificate in June 2006.  

Mr. Mohamed Isa Al Mutaweh, member of the Board of Directors and Chief Executive Officer of AlBaraka Islamic Bank (AIB) welcomed Mr. Rashid Hassan Al-Olaiwy joining the Bank as Assistant General Manager, Retail Banking Services and Local Branches and Mrs. Maisoon Mohamed Abdulla Shams as Senior Manager Risk and Compliance saying that "We are pleased to have Mr. Rashid Al Olaiwy and Mrs. Maisoon Shams with us and I am sure that long experience in banking in general and in particular in retail banking and local branches and risk management will be of an added value to us at the AlBaraka Islamic Bank in terms or achieving our mission and implementing our strategy". 
 
Mr. Al Mutaweh said that "these appointment come as part of the comprehensive steps being taken by the Bank to strengthen its move to becoming a leading bank that provides complete Islamic banking services including retail and wholesale banking services, commercial banking, investment services, treasury services and investment funds management as well as expanding its branch and ATM networks, which will be combined with providing a number of new innovative finance products which we plan to launch at present.  Enhancing our risk management by recruiting senior and skilled professional is in line with our plans to develop a comprehensive framework for our risk management policies in accordance with the regulatory requirements and Basel II directives".

AlBaraka Islamic Bank was established and licensed to operate from Bahrain on 21 February 1984 under a license issued by the Central Bank of Bahrain.  The Bank has an extensive operation in Pakistan through 18 branches located in main cities and centres. The Bank has an authorised capital of US$600 million whilst shareholders equity amounts to US$189.14 million and total assets of US$1.05 billion.