04-07-2021
Further to the merger agreement signed between them, which was announced on January 7, 2021, Masraf Al Rayan and Al Khalij Commercial Bank (Al Khaliji) announced the appointment of Mr. Fahd bin Abdullah Al Khalifa as CEO of Masraf Al Rayan Group, as of the date of approval by the shareholders of both Masraf Al Rayan and Al Khaliji Bank on the merger process, and obtaining the final approval of the Qatar Central Bank for the merger, considering obtaining all the necessary approvals for this appointment.
It should be noted that after the merger, Al Khaliji's activities will be contained in Al Rayyan's activity, and Al Rayyan will be the remaining legal entity, which will continue to operate in accordance with the principles and provisions of Islamic Sharia.