Mohammed Zaqout

Ajman Bank's new Acting CEO

The Board of Ajman Bank has decided not to confirm CEO, Mohammed Zaqout and instead named on an interim basis Seifeldin Abdelkareem as the Acting CEO. The decision has been taken by mutual agreement, the board said. The bank maintained earnings momentum recording a breakthrough performance with record growth rate of 382 per cent in 2012 year-end compared to 2011 year-end. Ajman Bank began its operations in 2008 and now operates 11 branches across the UAE.

UAE's Ajman Bank sacks CEO

Ajman Bank has sacked its Chief Executive Mohammed Zaqout, less than six months after appointing him to lead the United Arab Emirates' lender. The Islamic bank said it had terminated the services of Zaqout with effect from Sunday, with Chief Financial Officer Seifeldin Abdelkareem becoming acting CEO. The bank, listed on the Dubai Financial Market since 2008, is 25-percent owned by the government of Ajman.

BRIEF-Ajman Bank appoints Mohammed Zaqout chief executive officer - statement

Ajman Bank appoints Mohammed Zaqout as chief executive officer. Zaqout's appointment will be effective on April 21 pending regulatory approval.

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