THE Board of Bank Islam Brunei Darussalam (BIBD) yesterday announced the appointment of Mubashar Khokhar as its managing director with effect from November 30.
He will take over from Javed Ahmad who will leave BIBD on December 29, after having successfully led the bank since 2008.
Dato Paduka Awang Haji Bahrin bin Abdullah, Minister of Development and Chairman of BIBD said that Mubashar Khokhar brings with him a wealth of knowledge and international experience of over 30 years in the financial industry, which is well-suited to BIBD’ s ambitious plans to take the bank to the next level.
“Mubashar has deep knowledge of the Islamic finance industry and proven executive experience across 15 developed and emerging markets, including the USA, Europe, Asia, Africa and the Gulf Cooperation Council. He will continue to drive the transformation and continuous improvement agenda that we have set out for the bank, to generate respectable returns for our shareholders while continuously providing our customers with world-class Islamic financial services.”
Prior to BIBD, Mubashar Khokhar was managing director at Fajr Capital, Dubai, a principal investment firm and, CEO of Ajman Bank, a publicly listed Syariah-compliant bank in the UAE, and also served as the CEO of Badr Al-Islami/Mashreq Al-Islami, a wholly owned subsidiary of MashreqBank.
Mubashar Khokhar, BIBD’s new Managing Director. – COURTESY OF BIBD
Under his leadership, Ajman Bank received widespread industry recognition, including the coveted ‘Best Domestic Bank’ award in 2011. He started his career with American Express and Bank of America.
Dato Paduka Awang Haji Bahrin also thanked Javed Ahmad for his immense contributions during his tenure at the helm of BIBD. Javed Ahmad was instrumental in the transformation of BIBD into Brunei Darussalam’s largest bank and the Sultanate’s flagship Islamic financial institution, serving over 30 per cent of the Bruneian market.
Several milestones have been chartered during his leadership at BIBD, including the bank’s major rebranding exercise in 2013, the introduction of pilot banking innovations and technologies, as well as the bank’s regional expansion to Singapore.
BIBD has also received numerous international recognitions under Javed Ahmad’s leadership, including receiving the impressive A- (Stable) credit rating, the highest in Brunei Darussalam and among the highest in Southeast Asia accorded by international credit rating agency Standard & Poor’s.
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