Maldives Islamic Bank (MIB) has appointed Kazi Abu Muhammad Majedur Rahman as the Chairman and Mufaddal Idris Khumri as the Chief Executive Officer (CEO).
Majedur Rahman replaces Najmul Hassan, who served as the Chairman since 2012. MIB stated the succession effectively concludes the term of Najmul Hassan as the Chairman and as a Non-Executive Director of the Board
Majedur Rahman has been a member of the Board since 2021 and will also continue to serve as an Independent Director of MIB following this appointment. He is a seasoned banker and an experienced capital market professional. He has worked extensively in strategic business transformation, operational and credit risk management, consumer banking, trade finance, treasury, audit, fintech, HR, governance and stakeholder relationships in Bangladesh, Middle East, Africa and Australia.
Furthermore, Mufaddal is a seasoned banker with more than 25 years of banking experience in key business and support roles including retail banking and product management. He possesses over 17 years of Islamic banking experience with proven track record in areas of consumer and corporate banking, treasury, wealth management, takaful and Islamic product management.
Prior to joining MIB, Mufaddal was the Head of Retail Assets Business of Saudi National Bank, based in Dubai, UAE. He also served as Director of Retail Banking at National Bank of Ras Al Khaimah, UAE. He worked in various management capacities both in India and abroad, in roles such as Head of Islamic Banking, Senior Vice President, Assistant General Manager, Product Manager, Chief Manager, Director and Head of Retail Banking.
Following the appointment, Mufaddal said it was a privilege to be associated with MIB, as it is an institution that has been the pioneer of Islamic banking in the Maldives. He said he looks forward to working closely with its customers, shareholders, board of directors and staff members. He said the bank’s focus would remain on enhancing customer service, developing its digital footprint and offer solutions spanning retail, payments, trade and corporate banking.