First Abu Dhabi Bank (FAB) has appointed Dr Salim Al-Ali as the Chairman and an Executive Member of its Internal Shari’ah Supervision Committee (ISSC), marking the first time an Emirati national has held this position. Dr Al-Ali, who has been with the ISSC since 2020, was appointed after a rigorous approval process by the UAE Central Bank’s Higher Shariah Authority and will serve a three-year term until May 2027. His appointment aligns with FAB’s strategy to elevate more Emirati nationals into senior roles, with UAE citizens already comprising over 40% of its workforce and aiming for 50% by 2026. Dr Al-Ali, an assistant professor at UAE University with significant experience in Shariah and Islamic banking, will guide FAB in navigating the regulatory landscape of Islamic banking. He replaces Dr Mohd Daud Bakar, who led the ISSC for the past decade. Under Dr Bakar, FAB significantly expanded and solidified its standing in the Islamic banking sector. FAB, one of the largest financial institutions globally with total assets exceeding AED 1.2 trillion (USD 336 billion), offers a vast array of Islamic banking services and is highly rated for its sustainability and ESG performance.

Banking, Islamic Finance,United Arab Emirates