Board of Directors
The Board of Directors of the Bank is responsible for providing proper strategic direction for the bank, including conducting appropriate corporate governance in a transparent manner. The Board Members comprise of persons of high ethical standing and professional integrity who are well based to give this institution appropriate guidance.
The Bank’s Board comprises of the following persons;
Hassan Varvani - Chairman
Mr. Varvani is an astute businessman in the steel industry. He has in the past held the position of the Organizing Secretary of the Kenya Iron & Scrap Metal Association for seven years. He is also the Managing Director of Allied Metals Services Ltd., a company he founded in 1986.
He is a renowned personality within the Kenyan Muslim Community and has held various senior positions both in social and religious groups notably: Chair, Iqra Foundation; Chair, Nairobi Masaajid Joint Program; Chair, Nasserpuria Memon Jamat. He is a former finance convener of the Nairobi Jamia Mosque Committee.
Mr. Essajee is a renowned scholar in Accounting and served on both the Professional Standards Committee and the Disciplinary Committee of the Institute of Certified Public Accountants of Kenya (ICPAK). He majored in accounting in his undergraduate and postgraduate studies at the University of Nairobi.
He is a lecturer at the University of Nairobi (UoN) where he teaches and supervises both undergraduate and post-graduate students. He is a Director and a senior lecturer at Vision Institute of Professionals in Nairobi and Mombasa. He previously lectured at United States International University (USIU) where he headed the Accounting & Finance Department.
Mr. Essajee lectures extensively on Islamic Finance and has been a keen supporter of the move for the establishment of Islamic banking in Kenya and has contributed extensively in terms of write-ups on the subject and in sensitizing the people on the same.
Nathif J. Adam - Member
A veteran Islamic banker, Mr. Adam has more than 30 years of career banking experience covering almost all aspects of retail, commercial, investment and Islamic banking. He commenced his banking career at Kenya Commercial Bank in the early 80’s before proceeding in 1985 to join Al-Rajhi (Islamic) Bank in Riyadh, Saudi Arabia where he held supervisory positions in the bank’s Trade Finance and Treasury departments. In 1991, he joined Qatar Islamic Bank in Doha and worked there as an Executive Manager in-charge of the bank’s huge cross-border investments in International Trade, Securities and Portfolio Management.In 2002, he joined National Bank of Sharjah in the UAE to help in the conversion of that bank to become a full-fledged Islamic Bank, thereby becoming Sharjah Islamic Bank (SIB). He initiated the formation of SIB’s Investment & International Banking Division and was responsible for all structured finance activities including Debt & Equity Finance, Syndications, Mutual Funds and Islamic Bonds (Sukuk). At the time of his return to Kenya in October 2007, he was a Senior Vice President at Sharjah Islamic Bank, and was in-charge of the bank’s overall investment portfolio in excess of US$ 600 Million (Kes.40 billion).
Mr. Adam is a distinguished personality in the global Islamic Finance fraternity and has written many papers and articles covering various topical matters relating to the subject. He also co-authored the first book to be written on the subject of Islamic Bonds (Sukuk). The book titled Islamic Bonds: Your Guide to Issuing, Structuring and Investing in Sukuk is published and marketed by Euromoney, UK. He has also been a resource person and a member of Dubai International Financial Centre (DIFC) Sukuk Development Task Force.
He is an invited speaker at all major international conferences on Islamic banking and finance and offers training on the subject as a visiting lecturer at a number of reputable international learning centers including the following:
- Bahrain Institute of Banking and Finance (BIBF), Bahrain.
- Islamic Research & Training Institute, (IRTI), Jeddah, Saudi Arabia
- Management and Financial training Center (MFTC) Jeddah, Saudi Arabia.
- IIR, Dubai.
Mr. Adam is an Associate of the UK Chartered Institute of Bankers and holds an MBA certificate in International Trade from Heriot-Watt University, Scotland, UK.
Mussa Juma ASSAD - Member
Mr. Assad holds BA and MA degrees in Commerce, a Master of Arts in Financial Control and Doctor of Philosophy in Accounting.
He is currently the Head of Accounting Department at University of Dar Es Salaam. He has authored various books and won numerous academic awards including: Commonwealth Academic Staff Scholarship [tenable in the UK], 1998-2001, Coopers and Lybrand Auditing Prize, 1989, National Board of Accountants and Auditors' Order of Merit, 1989.
Abdulhamid Aboo - Member
Mr. Aboo holds a Bachelor of Arts degree from Delhi University, Bachelor of Laws degree from Delhi University and a Post Graduate Diploma in Law from the Kenya School of Law. He is a member of several law organizations that include Certified Public Secretaries Association, Mombasa Law Society, and Law Society of Kenya.He is the Proprietor of Aboo and Company Advocates and Mombasa Company Secretaries. He is a Director in Aboo Insurance Brokers, Ltd and Aboo Associates Ltd.
Jama Mohamed Issa - Member
Mr. Jama holds a Diploma in Business Accounting from Algonquin College in Ottawa in Canada.
He is currently the Managing director of Amal real estate limited in Kenya and has previously served in various senior positions including (but not limited to), Chairman of Amal Board of directors in Dubai, U.A.E.
Mohamed Mbaye - Member
Mr. Mbaye is a veteran banker with over 40 years experience in Banking. He is a former Deputy Governor of the Central Bank of Tanzania and has expertise in Corporate Governan