Masraf Al Rayan and Al Khaliji appoint Fahad Bin Abdalla Al Khalifa as Group CEO of the Merged Entity

Doha 5, July 2021- Following the merger announcement on January 7, 2021, Masraf Al Rayan QPSC (“Al Rayan”) and Al Khalij Commercial Bank (al khaliji) PQSC (“Al Khaliji”) have announced the appointment of Mr. Fahad Bin Abdalla Al Khalifa as the 'Group CEO' of the merged bank from the date the shareholders of both banks Al Rayan and Al Khaliji approve the merger and obtaining Qatar Central Bank final approval on the merger, subject to all necessary approvals on the appointment.

Following the merger, Al Khaliji's business will be absorbed into Al Rayan's business, and Al Rayan will be the remaining legal entity, which will continue to operate in accordance with Islamic Shari’ah principles.

Mr. Al Khalifa is a senior banker with over 25 years of experience. He started his career in 1994 with Qatar Central Bank (QCB) then he moved to Qatar National Bank (QNB) Treasury group, where he consistently moved up the ranks to become the Group Treasurer and GM Group Corporate & Institution Banking, before joining AK as GCEO in September 2014. Mr. Al Khalifa holds a BSc in Finance from Seattle University in the United States of America.