Abu Dhabi Islamic Bank strengthens its Risk Management function with major hire
Abu Dhabi Islamic Bank (ADIB), the UAE’s leading Islamic Bank, has announced its latest set of development aimed at enhancing its risk management practices, as part of its ongoing focus on applying highest international standards across its operation.
The Bank has created a new function, namely Group Chief Risk Office and appointed Mr. Masarrat Husain to head it. Mr. Husain joins ADIB’s senior management team with over 30 years of experience with Citibank and Samba Financial Group in the Middle East, Africa and Europe.
Prior to joining ADIB, Mr Husain was the Deputy Chief Risk Officer of Samba and a member of the Board of SambaCapital. During his banking career, Mr Husain has held many roles where his responsibilities included business as well as risk management, with focus on all facets of banking. Mr Husain was also an active instructor at various credit courses conducted by Citibank and Samba and is continuing this by running training sessions on risk management at ADIB for all staff.
Mr. Tirad Mahmoud, CEO of ADIB, said: “I am delighted to welcome Masarrat to our team at ADIB. Risk Management is a core area of concern for any bank and the strengthened focus that we are giving to this both in terms of investment and hiring world-class experts illustrates the commitment that ADIB is making to ensure ADIB adopts global best practices."
Mr. Husain and his team will be responsible for proactively monitoring and evaluating all risks undertaken by the bank in its operations in the key regional and global markets. Mr. Husain will also be responsible to upgrade the bank’s risk management process as well as the implementation of Basel II, the International Banking Accord designed to ensure all banks have world-class risk management processes that cover risk assessment, measurement and monitoring and improved disclosure policies.
Mr. Husain said: “I am excited about joining ADIB as it represents a significant opportunity and a challenge for me to help the bank’s efforts to implement best-in-class standards in a part of the world which is experiencing unprecedented growth. I am looking forward to be part of ADIB's new management team which is committed to maximising the company's tremendous potential."
