Masraf Al Rayan, a leading Qatari group involved in banking, financing and investing activities, has appointed Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani as the new chairman of its board of directors.

 

In accordance with Chapter 4, Article (19) of the amended Articles of Association of Masraf Al Rayan, Sheikh Mohammed has been appointed a member of the board representing Qatar Investment Authority replacing Ali bin Ahmed Al Kuwari.

 

The key announcement comes following Masraf Al Rayan's recent $50 billion merger with Al Khalij Commercial Bank (al khaliji) which has turned it into the second largest Islamic banking entity in Qatar.