Ibdar Bank (Ibdar), a wholesale Islamic investment bank based in Bahrain, has announced the appointment of Ahmed Al-Rayes as chief investment officer (CIO) of the bank.

Effective June 9, Al-Rayes is responsible for leading the investment and wealth management teams and for establishing and implementing investment strategies to expand the bank’s investments horizon. This includes broadening Ibdar’s client base, strengthening existing relationships with key clients and partners, and building relationships with international institutions globally.

Al-Rayes brings more than 15 years of investment and management experience to the bank. He has held senior roles in a number of regional financial institutions and corporates, where he was engaged in Islamic banking, investment, analysis and engineering.

Prior to joining Ibdar Bank, Al-Rayes was most recently head of academic, Islamic finance and quality assurance at the Bahrain Institute for Banking and Finance (BIBF). Previous roles include VP of Private Equity at PineBridge Investments Middle East, investment manager at Bahrain Mumtalakat Holding Company, efficiency improvement analyst at Batelco and Planning, and development engineer at Bahrain Petroleum Company (Bapco).

Basel Al-Hajj, CEO of Ibdar Bank said: “We’re pleased to welcome Ahmed Al-Rayes as the Bank’s new CIO. We are always looking for executives with strong business ingenuity and financial talent and his track record of investment and management experience further reinforces our senior team. His appointment also serves to strengthen our investment capabilities.”

Al-Rayes said: “With its strong foundations, unique approach and high standards of excellence, this bank has a great platform upon which to grow its leadership in the Islamic banking and investment domain.”

Ibdar Bank is active in private equity in the GCC and MENA markets as well as in the regional and global real estate. The bank has extensive experience in aviation, infrastructure, oil and gas, maritime, retail and other sectors.