Albaraka Bank CEO

Albaraka Bank CEO

South Africa’s Al Baraka Bank has the potential to move from good to great in this country’s financial sector, according to leading Chartered Accountant, Mr Zahid Fakey, a newly appointed member of the bank’s Board of Directors.

Mr Fakey, a former PricewaterhouseCoopers Partner, with a history of working across industries globally, and now Chief Executive Officer of Unplugged Enterprises, a purpose-driven organization focused on the upliftment of society, took up his Al Baraka Bank Board appointment as an Independent Non-executive Director on Friday 01 March 2019.

Commenting on the appointment of Mr Fakey, Al Baraka Bank’s Chief Executive, Mr. Shabir Chohan, said: “In an increasingly technology-driven world, we are very pleased at having secured the services of Mr Fakey, who brings additional strength to our Board given his extensive experience and exceptional expertise in, particularly, the fields of Information Technology, ERP security and controls, IT governance, data management and assurance, cyber reviews and the like. He is a great asset to the bank’s leadership and we look forward to the invaluable contribution he will undoubtedly make in taking the bank forward.”

Durban-based Mr. Fakey qualified as a Chartered Accountant in 2000 and as a Certified Information Systems Auditor in 2002. He served his Articles with PricewaterhouseCoopers and was admitted to the organization’s partnership in July 2009. His industry exposure includes both private and public sectors and he has worked across a range of countries. He is an SAP Security and Control Specialist, with 19 years of experience in this field, working on local and global SAP interventions, providing either assurance or consulting services.

In July 2018 he became Chief Executive Officer of Unplugged Enterprises, involved in leadership training, executive mentorship, advisory services and community upliftment projects.

Mr Fakey, who also serves on the Boards of the National Bioproducts Institute and Dube TradePort Corporation, said of his appointment to the Board of Al Baraka Bank: “I welcome the opportunity to serve Albaraka Bank Limited and its stakeholders and look forward to bringing value through my knowledge and experience in working with the Directors and staff of the bank. Together, we look forward to moving Al Baraka Bank from good to great within the financial sector and the broader community it serves.”

Al Baraka Bank celebrates 30 years in business this year, and Mr Chohan said: “Our company’s sustainability and growth trajectory may be attributed, in no small measure, to the calibre of our Board and to our philosophy of strengthening our leadership, so as to better serve our shareholders, clients and other stakeholders into the future.”

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