Al Baraka names “Mazin Manna” as the Group’s President & Chief Executive

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Al Baraka Banking Group, based in Bahrain, yesterday announced naming Mazin Manna as the Group’s new President and Chief Executive and member of the Board. The appointment, which was taken by the Board on 08 December 2020, at their meeting, held under the Chairmanship of Sheikh Abdullah Saleh Kamel, is effective from 1 January 2021 after it has been approved by the Central Bank of Bahrain.

Manna will take over from Adnan Ahmed Yousif, who will be retiring from the Group, effective 31 December 2020, following a tenure of around two decades at ABG, which has seen ABG grow into a global Islamic banking leader. Commenting, Sheikh Abdullah Saleh Kamel said: “On behalf of the Board, I’d like to take this opportunity to thank Yousif for his strong stewardship of ABG, which has seen the Group become a pioneer of the Islamic banking industry and has taken Islamic Banking globally.” “We thank him for all of his efforts, which have laid strong foundations for the next phase of the Group’s growth and continued transformation.”

Sheikh Abdullah further said the Group’s strategy for the forthcoming period, focuses on improving performance through enhanced operational efficiency and greater alignment to the business model. “This is currently being pursued through the conversion of the Group’s license from an Islamic wholesale banking to a Category 1 Islamic Investment Firm.” The approval to pursue the transition was recently given by the Extraordinary General Assembly and is subject to obtaining the necessary approvals from the Central Bank of Bahrain, he added. The Chairman of the Board of Directors congratulated Mazin Manna for the confidence of the Board of Directors in appointing him to this position.

Manna comes to the role with nearly three decades of experience in the banking and financial sector and deep knowledge of the regional economies. Most recently, he served as CEO of Abu Dhabi Islamic Bank. Before that, he was the CEO for the Middle East and North Africa at Credit Agricole CIB and Group Senior Country officer for the UAE and was a member of the Extended Executive Committee of Credit Agricole CIB.