Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (ARBM) announced on Tuesday the departure of its Chief Executive Officer, Arsalaan (Oz) Ahmed. The CEO, who held the position since February 2021, has decided to step down to pursue his personal ambitions in the fintech and social finance sector.
During his tenure, Oz was instrumental in launching Rize, ARBM's digital bank, in December 2022. The digital banking app has been growing in popularity due to its attractive interest rate.
Under Oz's leadership, ARBM recorded the best financial performance in its history, supported by its parent bank. Oz was recognized as a visionary leader with a passion for Islamic banking, sustainability, and digital innovation. His efforts transformed ARBM into a respected futuristic financial services provider.
John Roger Winfield, Chairman of ARBM, expressed deep appreciation for Oz's engagement and leadership. "Oz has been leading ARBM's transformation to become a respected futuristic financial services provider exemplified by the launch of Rize, the Bank's key strategic channel to drive the digital agenda. On behalf of the ARBM family, I would like to express our deepest appreciation to Oz for his engagement and leadership in advancing the Bank as we grow to be a significant contender in both the digital and Islamic banking space," said Winfield.
Oz was appointed as CEO of a fully-fledged Islamic bank in 2016 when he was just 36 years old, making him the youngest CEO of an Islamic bank in Malaysia at that time. In his farewell statement, Oz expressed gratitude to ARBM and the Al Rajhi Bank Group for the trust accorded to him over the years. "It has been a great honor serving as CEO and I would like to take this opportunity to thank ARBM, and the Al Rajhi Bank Group, for the trust accorded to me these past few years," Oz said.
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