Kuala Lumpur - Al Rajhi Bank Malaysia (ARBM), a wholly owned subsidiary of the world’s largest Islamic bank, Al Rajhi Bank, Kingdom of Saudi Arabia, today, announced the appointment of Mr. Muhammad Afaq Khan as Independent Non-Executive Director to its Board, effective 5 September 2016
Mr. Afaq brings with him close to thirty years of experience as an Islamic banking professional. With a proven track record of building global business, Mr. Afaq has also won several Islamic Banker of the Year awards and other accolades, recognising him as a pioneering and influential Islamic banker. He led the first Sovereign Sukuk for the Government of Malaysia and has served on the Board of Amanah funds and on the investment management committee of the funds.
Previously, Mr. Afaq served as Group CEO of Islamic Banking, Standard Chartered Bank (Saadiq), where he contributed efforts in winning over 200 industry awards for the institution. Prior to that, he was part of the senior management in HSBC Group to establish the Islamic Banking business. He served as Global Head of Asset Finance and Advisory of HSBC Amanah and successfully developed the Islamic strategy for Capital Markets, Corporate Finance for HSBC Group.
Mr. Afaq specialises in building businesses and charting new territories in Islamic Banking including opening up new geographies and creating first-in-the-world Islamic Banking deals. A key player in developing Islamic Banking regulations across geographies and with industry bodies, Mr. Afaq holds a Masters in Business Administration with Major in Finance from University of Western Illinois.
“We are pleased with the appointment of Mr. Afaq Khan to the Bank’s Board of Directors. His wealth of experience and expertise will contribute towards the strategic growth and positioning of the Bank as a key player in Islamic banking and in creating value for our stakeholders,” said Steve Chen, Chief Executive Officer, Al Rajhi Bank Malaysia on the appointment.
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