Datuk Mohamed Azahari Kamil has been appointed Asian Finance Bhd (AFB) chief executive officer effective on Wednesday, becoming the first Malaysian to helm a foreign Islamic bank in Malaysia. AFB said that his experience and ability fit the bill for the young and dynamic Islamic bank that was poised to carve its name in Malaysia and the region. The 48-year-old has nearly three decades of experience in corporate services and fund management. Azahari was previously Amanahraya Investment Bank Ltd Labuan managing director and chief executive officer. His appointment to the current position followed the resignation of Faisal Alshowaikh, a Bahraini who was instrumental in setting up AFB two years ago. Azahari said he was honored to receive the vote of confidence from the bank's three Gulf Cooperation Council shareholders to steer AFB to the next level. “The first year was billed as the foundation year and the focus was all about building systems, processes and the right team of people. Now that we have the necessary infrastructure in place, we can switch to a different mode and concentrate on building values and in generating revenues that will be pivotal for the further development of the Islamic financial market,” he said. AFB, which began operations in Malaysia in 2007, has a branch each in Kuala Lumpur and Johor Baru and an office in Jakarta, Indonesia. It is owned by Middle East investors, namely Qatar Islamic Bank (70 percent), RUSD Investment Bank Inc of Saudi Arabia (20 percent) and Global Investment House of Kuwait (10 percent).
