Farid Al Mulla's appointment as new CEO also highlights the effectiveness of Emirates Islamic’s long-term Emiratisation strategy. Image Credit: Supplied

Dubai: UAE’s Emirates Islamic has appointed Farid Al Mulla as its new CEO, the bank announced on Tuesday. Al Mulla will succeed banking veteran Salah Amin, retiring after almost 35 years of service to the Emirates NBD Group.

As the bank’s current head of Consumer Banking and Wealth Management, Al Mulla has played a vital role in the bank’s strong profitability and income results, especially over the first half of 2023. This includes enhancing the bank’s digital channels, leading to a 21 per cent surge in online and mobile banking transactions throughout 2022.

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director at Emirates NBD and Chairman of Emirates Islamic said, “With a 32-year industry track record including as Emirates Islamic’s current Head of Consumer Banking and Wealth Management and respected reputation in Shari’a banking, Farid is the ideal leader for Emirates Islamic as it embarks on its next growth phase.”

Emirates Islamic’s net profit jumped to a record Dh1.2 billion for H1-2023, a 73 per cent increase compared to the year-ago period, the lender announced in July.