IslamicFinance.de

Fatima Qasimi has been appointed as the Chief Executive Officer of Aseel Islamic Finance. Ms. Fatima joins Aseel Islamic Finance with almost 20 years of experience in consumer, corporate and Islamic banking. She joined the FGB group in 2008 as Head of Corporate Banking. She has a Bachelor’s degree in Business Administration from Strayer University, Washington, USA and an MBA in Financial Management from South Eastern University, London, UK. In her new position as CEO of Aseel, Fatima’s focus is on developing two business models for the company to cater to the Islamic financing needs of UAE consumers and corporates, particularly SME and mid-market businesses.

First Gulf Bank (FGB) has increased its stakes in Aseel Islamic Finance, through a purchase agreement which has raised the bank’s ownership from 40% to 100%. With a paid-up capital of AED 800 million, Aseel is now FGB’s Islamic banking and finance arm, planning to develop more products for small medium enterprises. Aseel Islamic Finance will maintain an independent board of directors with Hana Al Rostamani as the Chairperson, while Javed Afzal was appointed as the Chief Executive Officer.

First Gulf Bank (FGB) has increased its stakes in Aseel Islamic Finance, through a purchase agreement which has raised the bank's ownership from 40% to 100%. With a paid-up capital of AED 800 million, Aseel is now FGB's Islamic banking and finance arm. Aseel will offer a full-fledged range of Islamic solutions, such as Business Financing, Murabaha and Ijarah products for SMEs, Takaful, Investment products, Corporate Deposits, and Trade facilities in addition to Real Estate services. It will also share responsibility for managing the bank's existing Emirati Al Awwal Islamic savings certificates programme, Transaction Accounts and Individual Deposits. Aseel Islamic Finance will maintain an independent board of directors with Hana Al Rostamani as the Chairperson, while Javed Afzal was appointed as the Chief Executive Officer.