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QA24_FI_Masraf

QATAR - Finance

Fahad Al Khalifa

Group CEO, Masraf Al Rayan

Bio

Fahad Al Khalifa is a seasoned banking professional with over 25 years of experience in leadership roles in financial services. He was appointed to the role of Group CEO of Masraf Al Rayan in 2021. Before, Al Khalifa was Group CEO of Al Khalij Commercial Bank since 2014. Throughout his career, he has held prominent positions in Qatar’s leading financial institutions, including Qatar Central Bank and Qatar National Bank (QNB), where he held the positions of Group Treasurer and GM Group Corporate Banking and Financial Institutions. Al Khalifa graduated with a bachelor of science degree in finance from Seattle University in the US and has a successful track record covering general management, strategy, mergers and acquisitions.

"ESG has always been at the core of our business strategy, and we are proud of the significant progress we have made in this area."
Masraf Al Rayan has positioned itself to become a leading Islamic financial institution that embraces digital transformation, fosters social progress, and prioritizes sustainable financing and green initiatives.
In 2022, Masraf Al Rayan launched a sustainable financing framework. How significant is the ESG agenda for the bank and how does it promote itself as a key sustainability player in Qatar?

ESG has always been at the core of our business strategy, and we are proud of the significant progress we have made in this area. Masraf Al Rayan has been actively working towards sustainability and social responsibility. Some of our notable achievements include: Green deposits, sustainable financing, employee well being and the support we are able to provide to the new business generation. It’s important to highlight that Masraf Al Rayan is the first bank in Qatar to achieve a complete ESG strategy with 15 main pillars. This achievement is a result of the commitment of every single employee and partner of Masraf Al Rayan, who has been working towards this goal for the past 2 years. This plan is an ongoing effort that we will be adapting according to the needs of the market and to the Qatar consumers. Through its ESG strategy, Masraf Al Rayan integrates environmental considerations, social responsibility, and sound governance practices into its core business operations. By minimizing its environmental footprint, fostering social inclusivity, and upholding robust governance principles, the bank ensures that sustainability is ingrained in its day-to-day activities and decision-making processes.

To what extent are the bank’s policies aligned with the government’s Vision 2030 aspirations across all pillars?

Masraf al Rayan is fully committed to supporting Qatar’s National Vision 2030 and its objectives. As a leading Islamic bank, we recognize the significance of aligning our strategies and activities with the nation’s vision for sustainable development and diversification. Vision 2030 emphasizes the importance of innovation, technology, and knowledge-based industries. At Masraf al Rayan, we have embraced digital transformation, and by doing so we contribute to the development of a vibrant and globally competitive economy. We also continue our efforts to develop Qatar’s human resource potential and contribute to creating a knowledge-based economy by offering talented and ambitious nationals career opportunities and personal development training to ensure they are empowered to be tomorrow’s successful industry leaders, role models and responsible and committed citizens. In this regard, one of our main partnerships is through the Kawader Malia program where we support the development Qatari fresh graduates to bridge the performance gap between academic and professional practices.

What are Masraf Al Rayan’s plans for future development of the financial institution?

As we look to the future our aim is to be ‘The Bank you Want to do Business With’. Masraf’s plan is to be an Islamic financial powerhouse which will support the prosperity of our clients, development of the nation and enhance the bank›s social progress. We will take our rightful role in leading Qatar’s banking sector in the digital economy era embracing all technology advancements to bring to market the very best of Fintech products for customer convenience and service excellence. Our ambition is to simplify and accelerate Masraf al Rayan’s products and processes through a digital banking experience according to Islamic principles. The bank has embarked on a series of new wide-scale internal projects of digital transformation to significantly enhance the customer experience. We are making a substantial investment in our technology offering to improve the customer journey, increase process efficiency, accelerate product innovation, and improve competitiveness. Through our people, branches, and technology we will be ‘Always Available, Always Connected’ and we will not waiver from our committed to adhering to the principles of honor and integrity in our dealings with our valued clients to ensure their future success. We have recently launched our Premier Banking offering, which delivers an enhanced value proposition and personalized level of service to both our new and existing loyal client base. In addition, we continuously introduce incremental digital innovations for our Corporate customers to ensure we maintain our position as the leading Islamic bank for this sector. We intend to fully embrace all the tenets of Environmental, Social, and Governance (ESG), recognizing that its associated opportunities and risks are becoming of increasing importance to financial institutions and the industry at large. We will continue to strengthen our commitment to sustainable financing, integrate ESG considerations into our risk management framework, and expand our green financing offerings.

 

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