Arab Banking Corporation (B.S.C.) announced that following the meeting of its board of directors on 25 July 2022, the company has announced the retirement of its Group Chief Executive, Dr. Khaled Kawan, and the appointment of Mr. Sael Al Waary, Deputy Group CEO as the Acting Group CEO, effective 1 August 2022. Mr. Al Waary is a long-time leader at Bank ABC Group and of recent the driving force behind its strategic digital transformation. Until year-end, there will be a transition period while Bank ABC deploys its assessments and plans towards permanent succession.

Dr. Kawan will remain associated with the Group as Chairman of the Boards of ABCIB, ABC SA and with Banco ABC Brasil. He shall also continue to support Mr. Al Waary in the planned transition process as may be required.