Al Rajhi Bank Malaysia hires Ikram Khaliq to lead new digital bank offering
Al Rajhi Bank Malaysia (ARBM), a subsidiary of Saudi Arabia’s banking group Al Rajhi Bank, has appointed Ikram Khaliq to head up its upcoming digital bank offering.
The Edge Markets reports Ikram will leverage his more than 16 years of international experience in the fintech and insurtech industries as ARBM gears up to launch its new digital bank this year.
The bank recently selected Thought Machine and its Vault core banking solution to power its new offering.
Thought Machine says Vault will “enable ARBM to deliver on its ambitions and launch an end-to-end next-generation bank”.
It adds the bank will “harness Vault’s Universal Product Engine” to “design, launch and manage” a comprehensive set of Shariah-compliant banking products, including financing, saving and SME-focused offerings.
Arsalaan Ahmed, CEO of ARBM, said his firm is aiming to become “the #1 Islamic finance innovation bank in Malaysia”.