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ila Bank Bahrain appoints Mohamed Al Maraj as its CEO

ila bankBahrain-based ila Bank, a wholly-owned retail subsidiary of Bank ABC, announced the appointment of Mohamed Al Maraj as its Chief Executive Officer (CEO). Priorly, he served as the Chief Operating Officer (COO) of the bank. Mohamed Al Maraj has played a significant role in several initiatives such as the establishment of Bank ABC’s DIFC office, upgrade of its Singapore office, the launch of B-wallet, and acquiring POS machines for Bank ABC’s digital payments subsidiary AFS.

Launched in November 2019, ila Bank is a digital, mobile-only banking entity powered by Bank ABC, with a roadmap that is moving on to other Middle East and North Africa (MENA) countries. Mohamed Al Maraj has been working on the banking project from inception through to its launch and, brings to this role an extensive local and international experience in banking, investments and digital transformations.

Sael Al Waary, the Deputy Group CEO of Bank ABC expressed, “Mohamed’s journey at Bank ABC exemplifies our commitment to promote growth from within. I am confident Mohamed will successfully lead ila Bank’s young and dynamic team to push boundaries and promote smart banking in Bahrain.”

Mohamed Al Maraj was a Senior Associate with investment bank Perella Weinberg Partners in New York, before joining Bank ABC. He holds a B.Sc. in Finance and Accounting from the Wharton School of Business, University of Pennsylvania, United States. He revealed, “I am grateful for the confidence Bank ABC has had in me over the last five years. I am extremely proud of this Bahrain-born brand and the phenomenal team we have built so far. ila has exciting things planned for the year that will set new benchmarks in the region’s retail banking industry and we envision to champion the digital retail landscape in Bahrain and the wider region”

Aided by artificial intelligence and data analytics, the bank’s app is designed to appeal and serve a wide section of users ranging from millennials and older age groups to blue-collar workers. The app’s current offerings include completely digital onboarding, instant virtual card for online transactions, physical debit card, multi-currency account and a current account that offers interest without a minimum balance or tenure.

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