Arab Bank for Investment and Foreign Trade (Al Masraf) has announced the appointment of Hitesh Thakkar as Chief Financial Officer (CFO), in a strategic move that underscores the Bank’s commitment to its newly launched 2025–2028 strategy. His appointment marks a pivotal step in strengthening the financial leadership needed to drive sustainable growth, operational excellence and long-term value creation for stakeholders.
As CFO, Hitesh will play a critical role in shaping and aligning Al Masraf’s financial strategy with its long-term vision. He will lead financial planning, performance management and capital efficiency initiatives, while supporting the Bank’s transition to a more agile, digitally-enabled operating model. His forward-thinking approach is expected to accelerate execution of the Bank’s growth priorities across Corporate, Retail and SME banking segments.
Hitesh brings over 25 years of extensive experience in regional and global financial institutions. He joins Al Masraf from Emirates NBD, where he served as Group Head of Finance for the Retail Banking & Wealth Management division. Previously, he held the position of CFO & Head of Strategy at Emirates Islamic, where he played a key role in the bank’s transformation and financial turnaround. His earlier leadership roles at ABN Amro, ICICI Bank, and BNP Paribas further reflect his strong track record in financial strategy and governance.
Fuad Mohamed, Chief Executive Officer of Al Masraf, commented: “A core focus for Al Masraf has been strengthening our management team, which serves as the foundation for effectively executing our growth strategy and delivering strong results and long-term value for our clients and shareholders. I am delighted to welcome Hitesh for his new roles. He joins at a pivotal time in our growth journey, and I look forward to their valuable contributions in their respective areas.”
He added: “We will pursue our ambitious vision relentlessly and accelerate the pace of investments in our growth strategy with a focus on reinforcing capital efficiency and enhancing our risk and compliance frameworks. We are confident that Hitesh contribution will help us build a more resilient and future-ready financial institution.”
Al Masraf’s 2025–2028 strategy is centred on improving asset quality, reinforcing its risk and compliance frameworks, and driving sustainable revenue growth across core business segments. The Bank is also advancing its digital transformation through operational agility, process automation, and improved service delivery, solidifying its position as a forward-looking, customer-centric financial institution in the UAE.
