AlRayan Bank names ex-NBB chief Usman Ahmed group CEO as Fahad Al Khalifa steps down
Qatar Central Bank has approved the appointment, but no start date is set; operations head Omar Al Emadi is acting chief executive from 1 October.
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AlRayan Bank has appointed Usman Ahmed, a former group chief executive of National Bank of Bahrain, as its group chief executive officer, with Fahad Al Khalifa ending his term in the role on 30 September 2026, according to the bank's release of 30 September. Qatar Central Bank has approved the appointment, the release said. It gives no start date: Ahmed will take up the post after completing his joining formalities.
Until then, Omar Al Emadi, the group chief operations and administration officer, is acting group chief executive from 1 October 2026 and keeps his existing role, the release said. Al Khalifa moves to the post of adviser to the chairman. The release does not say how long he had led the bank or give a reason for the change.
The appointment puts a banker with a background in Islamic finance at Citigroup in charge of a Doha lender whose chairman represents the Qatar Investment Authority and which has set itself a target of "Market Leading ROE by 2027" under its LEAD strategy, according to its investor relations page. The bank, incorporated on 4 January 2006 and licensed by Qatar Central Bank, has fully paid-up capital of QAR 9.3 billion and 17 branches in Qatar, the page shows.
The appointment
Ahmed has more than 30 years of banking experience across the Middle East, Asia and Europe, the English release said, listing his earlier roles as group chief executive of National Bank of Bahrain, several senior positions at Citigroup and global head of Citi Islamic Banking. The Arabic version of the release names his Citi posts as chief executive of Citi Malaysia and chief executive of Citi Bahrain, Kuwait and Qatar.
"We are pleased to welcome Mr. Usman Ahmed as the Bank's new Group Chief Executive Officer," Chairman Sheikh Mohamed bin Hamad bin Qassim Al Thani said in the release. He said the board believes Ahmed's experience and record position him to "lead the Bank through its next phase of development and the continued execution of its strategic priorities." The chairman thanked Al Khalifa "for his leadership, commitment and valuable contribution".
The board that made it
The bank's 11-member board was re-elected or re-appointed on 15 March 2026 for a term running from 2026 to 2028, according to its board of directors page. The chairman, a director since 17 November 2021, is listed as non-executive and non-independent and represents the Qatar Investment Authority and Qatar Holding. The vice-chairman, Sheikh Hamad bin Faisal bin Thani Al Thani, also represents the Qatar Investment Authority and Qatar Holding, chairs the executive committee and is listed as an executive director.
Other shareholders with named representatives are the General Retirement and Social Insurance Authority, represented by Ahmed Ali Hassan Al Hammadi; the investment portfolio of the Ministry of Defence and Armed Forces, represented by Khamis Mubarak Al Kuwari; Abdulrazzaq Trading, represented by Abdulrahman bin Mohamed Al Kheyarin; GS Holding, represented by Mohamed Jaber Ahmed Khamis Al Sulaiti; and Al Qaqaan Investment Group, represented by Nasser Mohsen Al Adba, who joined the board on 15 March 2026, the page shows. Al Hammadi and Al Kuwari are also listed as executive members.
Three of the 11 directors are classed as independent, a Boards and Capital count from the page: Sheikh Nasser bin Hamad bin Nasser Al Thani, a director since 5 April 2009; Mohamed Hassan Al Saadi, since 15 March 2023; and Abdullah Saad Mohamed Al Jabbara Al Rumaihi, since 25 March 2024. Sheikh Ali bin Jassim bin Mohamed Al Thani, a director since 2 April 2017, is listed as non-executive and non-independent with no shareholder named.
What the release leaves open
The release does not give Ahmed's contract terms or the date of the board meeting that chose him, and the board page does not list executive management. The next step is Ahmed's formal assumption of office, for which the bank has given no date; until then Al Emadi holds both the acting chief executive role and his operations post.