Dubai’s Noor Bank VP becomes CEO of Islamic Bank of Afghanistan

Afghanistan’s first standalone Islamic bank has tapped Gulf Arab expertise in its search for a new leader.

Syed Moosa Kaleem Al-Falahi has been named the CEO and president of the Islamic Bank of Afghanistan, the company said in a statement on Monday.

Syed Moosa joins the Afghani institution from Dubai’s Shariah-compliant Noor Bank where he was Vice President, Head of Financial Institutions, since 2007.

A life-long Islamic banker, the new CEO was formerly with Dubai Islamic Bank as Senior Manager, Financial Institutions, for almost seven years, and Assistant Section Head, International Relations & Foreign Investments Dept, at Qatar Islamic Bank for almost ten years, according to his LinkedIn profile.

The Islamic Bank of Afghanistan was established in April 2018 following the conversion of Bakhtar Bank. It is part of the Azizi Group.

It earned a profit of 44.951 million Afghan afghanis ($571,140) for the first six months of 2019, from a loss of 167.858 million afghanis for the same period last year, according to its financial statements.

It held 16.274 billion afghanis ($206.78 million) in assets as at June 30.

The Kabul-headquartered bank operates 59 branches across Afghanistan.

Syed Moosa takes over from Acting CEO Sharifullah Ibrahimi, who has become Deputy CEO. The bank’s first CEO was Amer Khalil ur-Rehman

($1 = 78.70 Afghan Afghanis)

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