Ibdar Bank, the Bahrain-based wholesale Islamic investment bank, has appointed Ahmed Al-Rayes as Chief Investment Officer (CIO) of the bank. Effective June 9, 2015, Al-Rayes is responsible for leading the investment and wealth management teams and for establishing and implementing investment strategies to expand the bank's investments horizon. This includes both broadening Ibdar's client base, strengthening existing relationships with key clients and partners and building relationships with international institutions globally. Al-Rayes brings more than 15 years of investment and management experience to the bank. He has held senior roles in a number of leading regional financial institutions and corporates, where he was engaged in Islamic banking, investment, analysis and engineering. Prior to joining Ibdar Bank, Al-Rayes was most recently Head of Academic, Islamic Finance and Quality Assurance at the Bahrain Institute for Banking and Finance (BIBF). Previous roles include Vice President of Private Equity at PineBridge Investments Middle East, Investment Manager at Bahrain Mumtalakat Holding Company, Efficiency Improvement Analyst at Batelco and Planning and Development Engineer at Bahrain Petroleum Company (Bapco). Al Hajj, CEO of Ibdar Bank, said “we are always looking for executives with strong business ingenuity and financial talent and his track record of investment and management experience further reinforces our senior team. His appointment also serves to strengthen our investment capabilities and drive to effectively execute our strategy. Already in 2015, Ibdar has shown its ability to deliver solid results and profitability. During this time, we have introduced new, pioneering investments as well as having concluded a number of successful exits. Together, as a team, we look forward to building on this momentum and creating even further value for the Bank, our investors and shareholders.” Al-Rayes said “with its strong foundations, unique approach and high standards of excellence, this bank has a great platform upon which to grow its leadership in the Islamic banking and investment domain. My focus will be to further hone the bank's investment strategy and spearhead efforts to develop the kinds of products and opportunities that our investors are asking for. Building on Ibdar's track record and execution platform, we are well placed to deliver the right opportunities and ensure the Bank continues to build its reputation as one of the region's most ethical, innovative and results-driven Islamic institutions.” Al-Rayes holds a Bachelor of Science degree in Mechanical Engineering from the University of Bahrain and an MBA from the University of Strathclyde in Glasgow, Scotland. He has also completed a number of executive and Islamic training programs in the region and internationally. – SG
