Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorised by the QFC Regulatory Authority (QFCRA) which is also a listed entity in Qatar Stock Exchange, announced yesterday the appointment of eminent Qatari business mind and banking figure Ali Mohammed Al Obaidly (pictured) as its CEO.
The Board welcomed the appointment of Ali Mohammed Al Obaidli as CEO of the bank in the context of a new board vision aiming to maximize shareholder rights. The Board also praised the new Chief Executive as a nationally recognized cadre who enjoy wide expertise in economic and administrative matters, and the Board is confident that its extensive and in-depth experience will enable it to improve performance and achieve positive results soon.
Speaking to the media on his appointment, the new QFB CEO, Ali Mohammed Al Obaidli, said yesterday he will be developing an investment and operational strategy covering the Bank’s business and investment portfolios, internal processes and organisational structure. “This strategy will be presented to the Board of Directors soon for discussion, approval and implementation. The previous situation was a challenge for the Board and shareholders, but we will work together to rectify the process. I’m asking shareholders for support over this transitional and sensitive phase and fruits of their patience will be ripped soon.”
Prior to joining QFB, Ali Al Obaidly, was the Group CEO of Ezdan Holdings Group, one of the largest real estate developers in Middle East.
During his tenure at Ezdan, he embarked several milestone achievements through local & international expansion and growth momentum in Group investments and returns.
Ali being corporate leader with dual experience in local real estate and financial sectors will spearhead QFB executive team over this critical growth period. Over the next few months, he will closely associate with QFB board to develop the Bank strategy, business plan, restructuring of QFB existing investments and setting the new strategic investment directions with the main intention of maximising shareholders’ return and offering value added investment opportunities and innovative Shariah-compliant financial solutions to the Bank’s client base. The new strategy shall focus on offering a variety of investment products for clients and on making a turnaround in QFB business model to attract local investment cadres and tap into local market opportunities.
Ali Mohammed Al-Obaidli holds a Bachelor’s Degree in Management and Economics from Qatar University in 1989 and a Master’s degree in Financial Management from the University of Oklahoma in 1995. Over the course of his career and career that has exceeded 29 years, Ali Mohammed Al Obaidli held several key positions including GCEO of Ezdan Holding Group, Chairman of the Board of Directors of Widam Foodstuff Company, Chairman of the Board of Directors of Nuzul Holding Company, and member of the Board of Directors of Ezdan Holding Group and its Managing Director.
He was also a member of the Board of Directors of Barwa Real Estate Company, the Board of Directors of Qatar International Islamic Bank, Al Rayan Bank, Qatar First Bank and some Islamic insurance institutions, including Qatar Islamic Insurance and Al-Daman Insurance Company (Beema). Medical Care (Al Ahli Hospital) and other boards of directors of Gulf companies in various economic sectors. His career was characterized by the presentation of strategic vision that helped these institutions achieve their growth and expansion goals. In addition, Ali Mohammed Al Obaidli was named the second best executive in the Gulf region for 2017.
