Appointment of FD
Islamic Bank of Britain Plc
11 July 2005
Islamic Bank of Britain PLC
Islamic Bank of Britain Appoints Finance Director
Islamic Bank of Britain, the UK's only totally Islamic British bank, is pleased
to announce the appointment of Mahomed Ashraf Piranie (known as Ashraf) as
Finance Director, effective as of 11 July 2005.
Ashraf (42) joins Islamic Bank of Britain's Board of Directors from Alliance &
Leicester where he held the position of director of finance for retail banking
and was one of the key directors responsible for the organisation's retail
banking business. Ashraf was a key member of the team which took A&L to
flotation and has, over the years, taken an active part in the company's growth
and development. He has over ten years experience within the UK financial
Services Sector, including extensive involvement in areas such as distribution
channel strategy, external reporting, new product development, compliance and
mergers and acquisition work.
Commenting on Ashraf's appointment, Michael Hanlon, managing director said:
'I am delighted to welcome Ashraf to the board. He joins us at a time we are to
embark on major expansion plans for the Bank, and I am sure that his extensive
experience of retail banking will prove invaluable in building for the future'.
Matters required under Schedule 2(g) of the AIM Rules in respect of appointment
Mr Piranie does not currently hold any other directorships or partnerships. He
has recently resigned as a director of Alliance and Leicester Personal Finance
Limited and this is the only directorship or partnership he has held during the
past five years. There are no other matters to be disclosed under Schedule 2(g)
(iii) - (viii) of the AIM Rules.
For more information on Islamic Bank of Britain products and direct banking
service call 0845 6060 786 or visit www.islamic-bank.com.
• A group of Islamic Scholars act as Islamic Bank of Britain's Sharia'a
supervisory committee and all services, activities and investments must be
approved by this Committee. The Committee will also undertake regular audits to
ensure that all activity is compliant with Sharia'a.
• Islamic Bank of Britain is a UK registered company which started
trading on the Alternative Investment Market (AIM) on 12 October 2004.
• As an independent bank, Islamic Bank of Britain is not part of a
larger conventional banking group so does not compromise on its principles or
practices and does not mix its funds in such a way as to compromise Sharia'a.
Issued on behalf of Islamic Bank of Britain by McCann-Erickson Public Relations,
McCann House, Highlands Road, Shirley, Solihull, West Midlands B90 4WE.
For further information please call Dawn Walker on 0121 713 3790 or Alison Love
on 0121 713 3782. E-mail dawn. firstname.lastname@example.org