May 2, 2006
Shamil Appoints General Managers for Commercial Banking and Support Services

Shamil Bank has announced further strengthening of its management team with the appointments of Mr. Khaled Hassan El-Ruby, General Manager - Commercial Banking and Mr. Ahmed A. Rahim, General Manager – Support Services. Both positions will report directly to the Chief Executive, Mr. Mohamed Hussain. Mr. El-Ruby has taken charge of his office effective May 2, 2006 while Mr. A. Rahim will assume his responsibilities in the first week of June, 2006. Both General Managers will be based at the Bank's head office in Bahrain.

Mr. Mohamed Hussain, Chief Executive, Shamil Bank said that: “The new appointments are to support Shamil Bank’s ongoing expansion plan.” The increasing organizational challenges resulting from the continued business growth have led to the creation of a Commercial Banking Group and a Support Services Group within the Bank. We have been setting new standards for Islamic banking in terms of introducing innovative Sharia’a-compliant products and services for retail and investment banking clients. In order to keep up the good work and to take the organization to higher levels of excellence, we certainly need to have more and more professional bankers onboard. We want to be better equipped to face the challenges of increased competition, and take advantage of new business opportunities internationally and in the GCC in particular. It is all about teamwork. I am sure, a stronger team will help us achieve our objectives.”

Mr. Ahmed A. Rahim, General Manager - Support Services, will be responsible for all support services of the Bank including strategic business planning, financial control, human resources, information technology, banking operations, treasury, corporate and marketing communications, audit and premises management.

Mr. A. Rahim is a senior banker with extensive general management and operational experience covering a wide spectrum including business development, project planning, risk management, ALCO, human resources, information technology and community services. His work experience comprise largely of his 28-year association with the National Bank of Bahrain (NBB), the largest commercial bank in Bahrain. His last senior position at the NBB was Assistant General Manager, Corporate Services Division.

He joined NBB as a foreign exchange and money market dealer in 1978 and then entrusted with the responsibility of strategic planning coordination. During his ascent to the positions of senior manager, management internal control and assistant general manager, corporate services division, he acquired invaluable all-round professional experience and expertise which he hopes to put to use for Shamil Bank. He was a member of all executive management committees at NBB and compliance officer to the Bahrain Monetary Agency for all regulatory issues.

His career accomplishments at the NBB included development of branch strategy in support of retail banking business, establishment of the first call centre in Bahrain, overhauling of HR policies, improvement of staff performance management system, career planning and retention program, coordination of the first 3-year strategic plan which resulted in a focused business approach, management of corporate culture which was more towards retail business and a disaster recovery plan to list a few.

Mr. A. Rahim did his MBA from the University of Glamorgan, Wales in 1999. He is also an associate of the Institute of Financial Accountants, UK and holds Executive Management Diploma from the University of Bahrain and Advance Banking Diploma from the Bahrain Institute of Banking and Finance. In addition, he has attended many training programs, seminars and conferences locally and overseas in the fields of banking, treasury, auditing, accounting, finance, operations and management. Born in 1953, Mr. A. Rahim is a Bahraini by nationality.

Mr. Khaled Hassan El-Ruby will be responsible for the Bank's retail and commercial banking activities. His responsibilities will include defining and implementing retail banking strategies, policies and targets, developing retail credit policies and procedures, managing the entire retail banking team and its risk portfolios, plan activities, organize, manage and guide retail banking sales, retail banking product development, managing all domestic branches and alternative distribution channels.

Mr. El-Ruby has a highly accomplished career in banking, having started with Citibank, Egypt back in 1981. He has worked for a number of regional and international financial institutions in senior management positions. Before joining Shamil Bank, he worked as an assistant general manager and retail banking group head for Kuwait Turkish Evkaf Finance House Inc., which is owned by Kuwait Finance House, Kuwait, Islamic Development Bank, Public Institution for Social Security, Kuwait, and Turkish Evkaf (Awkaf). Kuwait Turkish Evkaf Finance House is currently the leading Islamic Financial Institution in Turkey.

Prior to that Mr. El-Ruby was associated with Mashreqbank in the UAE, where he served in important positions in different areas such as commercial banking, risk management, wealth management and private banking. He has also served as the manager for Mashreqbank's Abu Dhabi branch and area manager for Abu Dhabi and Al Ain.

Mr. El-Ruby ’s other career highlights include his work experience with renowned financial institutions such as National Bank of Kuwait, Kuwait, American Express Bank, Egypt, United Saudi Commercial Bank, Saudi Arabia and Riyadh Bank, Saudi Arabia. He did his graduation from the Helwan University and advance courses in accounting and finance from the American University in Cairo, Egypt. Mr. El-Ruby, born in 1959 is an Egyptian by nationality.