Hitesh Thakkar strengthens Al Masraf's growth strategy with CFO appointment
Company - People | Jul 08, 2025 | Zawya
The Arab Bank for Investment and Foreign Trade (Al Masraf) appoints Hitesh Thakkar as its new Chief Financial Officer (CFO) as part of its strategic growth initiatives. This appointment aligns with the bank's 2025-2028 plan aimed at achieving sustainable growth and operational excellence. Thakkar, with over 25 years of experience in the financial sector, is tasked with leading financial planning and enhancing capital efficiency while supporting a shift to a digitally-enabled operating model. Under the leadership of CEO Fuad Mohamed, Al Masraf is focused on strengthening management as well as risk and compliance frameworks to solidify its foothold as a customer-centric institution in the UAE.
Sectors
- Banking and Financial Services
- Digital Transformation
Geography
- United Arab Emirates – Al Masraf is based in the UAE, and the article discusses its strategic initiatives within this geographical context.
Industry
- Banking and Financial Services – The article discusses the banking sector, focusing on Al Masraf's strategic initiatives for growth and leadership changes.
- Digital Transformation – Al Masraf is emphasizing its transition to a digitally-enabled operating model, highlighting the significance of digital transformation in the banking industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arab Bank for Investment and Foreign Trade (Al Masraf) | Target Company | Company | A UAE-based bank undertaking strategic growth initiatives and digital transformation. |
| Hitesh Thakkar | Chief Financial Officer | Person | Newly appointed CFO of Al Masraf, with extensive experience in financial institutions. |
| Fuad Mohamed | Chief Executive Officer | Person | CEO of Al Masraf, overseeing the bank's growth strategy. |
| Emirates NBD | Previous Employer | Company | Former employer of Hitesh Thakkar, where he served as Group Head of Finance for Retail Banking & Wealth Management. |
| Emirates Islamic | Previous Employer | Company | Former employer of Hitesh Thakkar, where he was CFO & Head of Strategy. |