Islamic Banking

Al Hilal Bank appoints Chairman and CEO

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The bank’s majority shareholder, Abu Dhabi Investment Council (ADIC), has appointed Ala’a Eraiqat as Chairman of Al Hilal in addition to his current role at Abu Dhabi Commercial Bank (ADCB).

Sunday 21, April 2019 BY KUDAKWASHE MUZORIWA

Abu Dhabi-based Al Hilal Bank’s majority shareholder, Abu Dhabi Investment Council (ADIC), has appointed Alaa Eraiqat as the lender's Chairman.

Eraiqat is currently the Group Chief Executive of ADCB, which is expected to merge with Union National Bank (UNB) and Al Hilal Bank on 1 May 2019. 

The Bank's Board of Directors has also appointed Amr Al Menhali as Al Hilal Bank’s Chief Executive Officer, before his appointment as CEO, Al Menhali has been serving as Head of Islamic Banking at ADCB since 2010.

The lender also launched a mobile banking application service, which offers customers a suite of advanced features, such as secure fingerprint and facial recognition technology as well as a seamless mobile banking experience.

Al Hilal stated that it has started a transform into a digital-focused retail bank, investing significantly in innovative technology to substantially enhance its customer experience.

Additionally, the bank’s mobile application allows new customers to open a new account conveniently without having to visit a branch or complete any paperwork.

Amr Al Menhali, the CEO of Al Hilal Bank, said, “Al Hilal Bank has a significant opportunity to thrive as an innovative, digital-focused retail bank that provides our customers with outstanding Shari’ah-compliant services.”

Al Hilal Bank will continue to operate as a separate entity within the ADCB Group, Shari’ah-compliant retail banking products, and services under its own brand.

 

 

TAGS : Al Hilal Bank, mergers and acquisition, GCC M&A, UNB, ADCB

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