Dubai Islamic Bank (DIB) has appointed Adnan Chilwan as its new CEO replacing Abdulla Al Hamli, who has been named new managing director of the bank.
Prior to this appointment Abdulla Al Hamli has been the CEO of the bank since 2008 and Chilwan has been his deputy.
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Chilwan has varied and diversified experience in senior positions with both reputed conventional and Islamic banks in the gulf region. He represents DIB in boards of various strategic investments, subsidiaries and associates.
The management reshuffle at DIB comes when the bank is planning for renewed growth, after it set aside about AED5 billion (US$1.36 billion) against bad loans following the 2009-2010 crash of real estate market.
Mohammed Ibrahim Al Shaibani, chairman of Dubai Islamic Bank, said: "These are exciting times for the bank and its stakeholders, and Dr. Chilwan’s diversified experience and expertise across the financial services spectrum coupled with unmatched leadership qualities will prove extremely valuable for DIB’s future development and growth."
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