The CEO of Al Rayan Bank Sultan Choudhury has decided to step down with immediate effect after serving the Islamic bank for 15 years.
The reason for Mr Choudhury’s departure has not been disclosed.
Ahmed Abdisheikh, who is the COO at Masraf Al Rayan — the bank’s parent company — will serve as interim CEO, subject to regulatory approval, until a permanent candidate has been employed.
Mr Choudhury has been with Al Rayan Bank since it launched in 2004 and became CEO in 2014.
He said: “I would like to thank the board and executive management teams of both Masraf Al Rayan and Al Rayan Bank (UK) for their unwavering encouragement.
“I would also like to thank my colleagues, past and present, for their hard work and dedication and support during my time at the bank.
“I’ve been honoured to play my part in the success of Al Rayan Bank and I look forward to watching the bank continue to develop in the future.”
Al Rayan Bank’s chairman, Simon Moore, added: “On behalf of the shareholders and board of directors of Al Rayan Bank, I sincerely thank Sultan Choudhury for his commitment and dedication to the bank.”
As you’re here…
5Pillars have one humble request from you…
Thousands of Muslims around the world visit our website for news every day. Due to the unfortunate reality of covering Muslim-related news in a heightened Islamophobic environment, our advertising and fundraising revenues have decreased significantly.
5Pillars is editorially and financially independent, with no sectarian or political allegiance to any particular group or movement. Our journalism has been exclusively grassroots focussed and our sole purpose is to defend Islam and Muslims in the media.
This makes us unique in comparison to other online Muslim media outlets who are neither independently regulated by a reputable body nor are they managed by qualified journalists.
Our journalism takes time, money and effort to deliver. But we do it because we believe we have a duty to Allah (swt).
You may not agree or like everything we publish. However, which other Muslim news site that is run by experienced journalists will take on the responsibility of being a shield for Islam and Muslims in the media?
If you follow 5Pillars, and you understand its importance in today’s climate, then please support us for as little as £5 a month, it only takes a minute to make a donation. Jazakallah khayran.
Our beloved Prophet Muhammad (peace be upon him) said:“The best deeds are those done regularly, even if they are small.” [Ibn Mājah]