Qatar First Bank Board of Directors Appoints
Mr. Ali Al-Obaidli as CEO
March 05, 2019
Qatar First Bank (QFB), the first
independent Shari’ah compliant bank authorized by the QFC
Regulatory Authority (QFCRA) which is also a listed entity in
Qatar Stock Exchange, announced today the appointment of eminent
Qatari business and banking figure Mr. Ali Al-Obaidly as its
CEO.
The Board welcomed the appointment of
Mr. Ali Mohammed Al Obaidli as CEO of the bank in the context of
a new board vision aiming to maximize shareholder rights. The
Board also praised the new Chief Executive as a nationally
recognized cadre who enjoy wide expertise in economic and
administrative matters, and the Board is confident that its
extensive and in-depth experience will enable it to improve
performance and achieve positive results soon.
Commenting on his appointment, Ali
Mohammed Al Obaidli, new CEO of QFB, said:
“I thank the Board of Directors for
choosing me as QFB’s CEO at this critical stage of the bank’s
growth period. I will work with the Board and the executive team
over the coming period to formulate a new strategy for the Bank
maximizing shareholders’ rights and putting the Bank on a
profitable path again”
He added: “I will be developing an
investment and operational strategy covering the Bank’s business
and investment portfolios, internal processes and organizational
structure. This strategy will be presented to the Board of
Directors soon for discussion, approval and implementation. The
previous situation was a challenge for the Board and
shareholders, but we will work together to rectify the process.
I’m asking shareholders for support over this transitional and
sensitive phase and fruits of their patience will be ripped
soon.”
Prior joining QFB, Mr. Ali
Al-Obaidly, was the Group CEO of Ezdan Holdings Group, one of
the largest real estate developers in Middle East. During his
tenure at Ezdan, he embarked several milestone achievements
through local & international expansion and growth momentum in
Group investments and returns. Mr. Ali being corporate leader
with dual experience in local real estate and financial sectors
will spearhead QFB executive team over this critical growth
period. Over the next few months, he will closely associate with
QFB board to develop the Bank strategy, business plan,
restructuring of QFB existing investments and setting the new
strategic investment directions with the main intention of
maximizing shareholders’ return and offering value added
investment opportunities and innovative Shariah-compliant
financial solutions to the Bank’s client base. The new strategy
shall focus on offering a variety of investment products for
clients and on making a turnaround in QFB business model to
attract local investment cadres and tap into local market
opportunities.
Mr. Ali Mohammed Al-Obaidli holds a
Bachelor’s Degree in Management and Economics from Qatar
University in 1989 and a Master’s degree in Financial Management
from the University of Oklahoma in 1995. Over the course of his
career and career that has exceeded 29 years, Mr. Ali Mohammed
Al Obaidli held several key positions including GCEO of Ezdan
Holding Group, Chairman of the Board of Directors of Widam
Foodstuff Company, Chairman of the Board of Directors of Nuzul
Holding Company, and member of the Board of Directors of Ezdan
Holding Group and its Managing Director. He also was a member of
the Board of Directors of Barwa Real Estate Company, the Board
of Directors of Qatar International Islamic Bank, Al Rayan Bank,
Qatar First Bank and some Islamic insurance institutions,
including Qatar Islamic Insurance and Al-Daman Insurance Company
(Beema). Medical Care (Al Ahli Hospital) and other boards of
directors of Gulf companies in various economic sectors. His
career was characterized by the presentation of strategic vision
that helped these institutions achieve their growth and
expansion goals. In addition, Mr. Ali Mohammed Al Obaidli was
named the second best executive in the Gulf region for 2017.
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