Al Rajhi Bank CEO leaves to face fintech

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Arsalaan (Oz) Ahmed, the Chief Executive Officer (CEO) of Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (ARBM), has announced his departure from the bank to pursue personal ambitions in the fintech and social finance sector. Oz had served as CEO since February 2021.

During Oz’s tenure, he played a key role in the launch of Rize, ARBM’s digital bank, in December 2022. The digital banking app gained popularity due to its attractive interest rates. Under his leadership, ARBM achieved its best financial performance in history, with support from its parent bank.

Oz was recognised as a visionary leader with a strong commitment to Islamic banking, sustainability, and digital innovation. His efforts transformed ARBM into a forward-thinking financial services provider.

John Roger Winfield, Chairman of ARBM, expressed appreciation for Oz’s leadership and contributions to the bank’s transformation. He highlighted Oz’s role in advancing ARBM’s digital agenda and positioning the bank as a significant player in both the digital and Islamic banking sectors.

Oz was appointed as the CEO of a fully-fledged Islamic bank in 2016, becoming the youngest CEO of an Islamic bank in Malaysia at the time. In his farewell statement, Oz expressed gratitude to ARBM and the Al Rajhi Bank Group for their trust and support during his time as CEO.