Manama, 7th July 2015

Ibdar Bank ("Ibdar"), the Bahrain based wholesale Islamic investment bank, today announced that it has appointed Mr. Ahmed Al-Rayes as Chief Investment Officer (CIO) of the Bank.

Effective 9 June 2015, Mr. 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. 

Mr. 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, Mr. 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).

Commenting, Mr. Basel Al Hajj, CEO of Ibdar Bank said, "We're pleased to welcome Ahmed Al-Rayes as the Bank's new Chief Investment Officer. 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."

"I'm extremely pleased to join Ibdar Bank," added Mr. Al-Rayes. "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."

Mr. 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 programmes in the region and internationally.

Ibdar Bank is active in private equity in the GCC and MENA markets as well as in the regional and global real estate. The Bank has extensive experience in sectors including aviation, infrastructure, oil & gas, maritime and retail, among others. It has recently announced a number of successful investments and exits in real estate and in financing and leasing. Currently, Ibdar has a strong pipeline of opportunities under evaluation in real estate and other areas that build on growth in consumer patterns across its markets of focus and in industries where its experience and knowledge support solid returns.

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About Ibdar Bank
Ibdar Bank ("Ibdar") is an Islamic investment bank incorporated in the Kingdom of Bahrain, where it operates under a wholesale Islamic banking license and is regulated by the Central Bank of Bahrain.

The Bank has USD300 million in paid up capital, an asset base in excess of USD400 million - as at end of September 2014 - and significant funds for deployment. Ibdar is engaged in private equity, capital markets and real estate, activities through which it aims to generate diversified and recurring income streams for the Bank, its shareholders and co-investors.

Geographically, the Bank's focus is on the GCC and MENA region including Turkey. It also transacts in Southeast Asia and select developed markets on an opportunistic basis. Ibdar has a significant expertise in areas such as Aviation, Infrastructure, Maritime, Oil & Gas, and Real estate, among others.

The Bank was created from the first three-way merger in the Islamic banking industry between Capital Management House (CMH), CAPIVEST and Elaf Bank in 2012 and was then re-launched as Ibdar Bank in November 2013.

For further information, please visit: www.ibdarbank.com

Media Contacts
Ibdar Bank            
Najla Abdulaziz
nabdulaziz@ibdarbank.com               
+973 17 510090

FinMark Communication, GCC            
Sawsan Fraidoon
sfraidoon@finmarkcoms.com
+973 17 749 759/+973 32220413

© Press Release 2015