Raqami Digital Islamic Bank, a key player in Pakistan’s banking sector, has appointed experienced investment banker Umair Aijaz as its new Chief Executive Officer (CEO), succeeding the former CEO Sardar Abubakr.
Umair Aijaz, previously serving as Senior Executive Vice President and Group Head CIBG at Pakistan Kuwait Investment Company Pvt. Ltd. (PKIC), brings a wealth of experience to his new role. His notable contributions during his tenure at PKIC include playing a pivotal role in the organization’s growth, focusing on various investment opportunities such as mergers and acquisitions, private equity, venture capital, deal structuring, equity valuations, and Shariah-compliant transactions.
Aijaz’s expertise in syndicate financing and corporate and project financing significantly contributed to the expansion of Islamic finance in Pakistan. As a founding team member of Raqami Digital Islamic Bank, his appointment is anticipated to play a crucial role in shaping the bank’s trajectory, positioning it as a potential game-changer in Pakistan’s banking landscape.
Notably, Aijaz has demonstrated a commitment to fostering technological innovation by steering initiatives such as investing in tech startups through PlanetN. His diverse professional background includes executive roles at BMA Capital Management and AKD Securities Ltd. Additionally, he has held positions at Allied Bank Limited and A.F. Ferguson & Co. (PwC Pakistan). Aijaz holds qualifications from ACCA, CFA Institute, and ICAEW.
The appointment of Umair Aijaz reflects Raqami Digital Islamic Bank’s strategic approach to leadership, combining financial expertise with a vision for technological advancement. The bank continues to strengthen its position in the Islamic banking sector, emphasizing innovation and customer-centric solutions.
