Amãna Bank bids farewell to retiring MD/CEO Faizal Salieh

Tuesday, 3 June 2014 01:19 - - {{hitsCtrl.values.hits}}

Head; Having taken over the realms of an unregulated non-bank financial institution which was practising a unique financing concept and transforming and migrating its entire business into a new licensed commercial bank and setting the standards for an industry benchmark during his tenure, Faizal Salieh recently relinquished his services as the Managing Director/CEO of Amãna Bank. Salieh joined the then Amãna Investments Ltd. in 2004 as its Managing Director and led the company towards obtaining the banking licence

and the subsequent formation and launch of Amãna Bank in 2011. He played a key role in facilitating appropriate changes to the country’s regulatory, legislative and fiscal framework to support Islamic banking. During his tenure at the helm of the bank Salieh was successful in expanding its reach and introducing novel products and convenient services. As a result the bank was able to record a triple digit growth in customer advances and a healthy growth in customer deposits. He was instrumental in establishing good governance and compliance standards on par with regulatory requirements and industry best practices. Salieh played a significant lead role in the Bank’s capital raising process and listing in the CSE. Additionally, he played the lead role in initiating and heading a dedicated Committee on Islamic Banking under the aegis of the Sri Lanka Banks’ Association. The bank had won many local and international accolades under his leadership including Best Islamic Bank in Sri Lanka (IFN Awards), Best Up and Coming Islamic Financial Institution in the World and Best Islamic Financial Institution in Sri Lanka (Global Finance Magazine). He has delivered talks representing the bank and the local industry at many global and local conferences and forums on Islamic finance. With his retirement Salieh completes nearly four decades of dedicated services in conventional, development and Islamic banking both in Sri Lanka and overseas including holding senior management positions in Grindlays Bank, ANZ Bank and the National Development Bank.

Azmeer takes over as CEO of Amãna Bank

Mohamed Azmeer, a banker with strong international exposure took over the reins at Amãna Bank from retiring CEO Faizal Salieh with effect from 1 June. Azmeer has been serving Amãna Bank as its Chief Operating Officer, since August 2012, where he was responsible for the consumer, SME and corporate business functions along with the bank’s treasury functions.

Azmeer’s carrier counts over 30 years of conventional and Islamic banking experience. Azmeer has sound experience in business banking and risk operations, having overseen such operations at a senior level during his stay at Citi Bank Dubai, where he also held the position of Vice President Risk. He was also involved as a member of the founding team in the establishment of Dubai Bank UAE in 2002, an entity of the Dubai Government, taking the position of Credit Controller. Apart from the Middle East Azmeer has also carried out many overseas assignments on behalf of Citi Bank to countries such as UK, India and Kenya, where he acquainted himself to the different dynamics and challenges specific to each region. In the area of Islamic banking, Azmeer’s track record involves holding senior positions at Al-Rajhi Bank Saudi Arabia, one of the largest and leading Islamic Banks in the world and Sharjah Islamic Bank, a leading Islamic Bank in the UAE. Commenting on this appointment the Bank’s Chairman Osman Kassim said: “The Board of Directors of Amana Bank and I are happy to appoint a banker with a proven track record as the new CEO of Amãna Bank. Azmeer is poised to lead the next phase of Amãna Bank’s growth and expansion.”

To bid adieu and felicitate Salieh’s achievements, the bank recently held a farewell ceremony. Speaking on the retirement of Salieh, the bank’s Chairman Osman Kassim said: “10 years of Faizal’s dedication and leadership has been instrumental in the establishment of the first Islamic bank as well as in fostering the growth of the Islamic finance industry in Sri Lanka. On behalf of everyone at Amãna Bank, I am very grateful for the yeoman services provided by Faizal in bringing the bank to where it is today. Over the years Faizal has lived up to the numerous challenges the bank has had to face and has reaped fruitful results which augurs well for the bank. I wish him a happy retirement as he begins a new chapter in life.” Salieh has been succeeded by Mohamed Azmeer as the CEO of the bank.