Islamic News Archive - East Africa

In observance of #WorldFoodDay, iib East Africa, in partnership with Souna Alhaya, took an active role by organizing a food distribution initiative. iib recognizes its responsibility in contributing to the well-being of the communities where it operates and Djibouti is no exception. The population of the country presents a critical need for sustainable support and iib continues to take tangible steps toward poverty alleviation.

This initiative, carried out at the premises of Souna Alhaya, saw iib employees on the ground, personally distributing food packages to 90 families. These curated food packs provided families with essential nutrients, offering relief from the daily struggle of securing food. By delivering this much-needed assistance, iib aimed not just to alleviate hunger but also to reinforce a sense of stability and hope within these communities.

At iib, this is not a one-off gesture, but part of our ongoing commitment to empowering communities in need. Our employees were deeply involved in the effort, embodying iib’s belief in compassion and action, demonstrating that our dedication extends beyond corporate commitments to real human engagement. By stepping into the role of community supporters, our team contributed to strengthening the fabric of society, one family at a time.

Aligned with the UN’s Sustainable Development Goals, particularly #ZeroHunger, this initiative underscores iib’s broader mission of fostering community resilience and well-being. We believe that sustainable development can only be achieved through active participation and collective action. As we continue our journey in Djibouti, we remain dedicated to making a measurable difference in the lives of the underserved, ensuring that they have the resources needed to build a brighter future.

At iib, our CSR activities are a reflection of our deep-rooted values, focusing on the critical issues facing our communities and proactively working to address them. Through our partnerships, we continue to drive positive change, reaffirming our role as a key player in the region’s development story.”

Global Payment Services (GPS), a leading FinTech and third-party payment processor in the Kingdom of Bahrain, announces its strategic partnership with International Investment Bank S.A., (iib East Africa) a management-owned bank with operations in Djibouti, among other locations.

Through this collaboration, GPS will be extending its payment processing capabilities to the East African market, providing Djibouti with VISA sponsorship, licensing, and secure infrastructure solutions to support the launch of prepaid and debit card products.

“We are thrilled to be partnering with iib East Africa to bring our innovative payment technologies to the financial industry in Djibouti,” said Mr. Ali Arab, the General Manager of Global Payment Services (GPS). “This agreement aligns with our broader strategy to expand our footprint across Africa and leverage our expertise to drive financial inclusion and economic growth in emerging markets.”

As part of the partnership, GPS will be deploying its advanced fraud management system and card management solutions to power iib East Africa’s new card offerings. This will enable the bank to deliver a secure and reliable payment experience to its customers.

Sohail Sultan, Chairman of iibGroup, commented on the occasion: “Collaborating with an industry leader as exemplified by GPS, allows us to offer innovative digital payment products that meet the evolving needs of our East African bank. We look forward to a successful long-term partnership that will support our mission of expanding access to innovative financial services across the region.”

GPS views this partnership as a crucial milestone in its strategy to expand operations across Africa and the Latin American and Caribbean (LAC) region. Both parties are united in their vision for innovation and excellence, committed to providing outstanding payment services that cater to the diverse needs of their customers.

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London, UK – June 25th, 2024 – iibanks is thrilled to announce that Mr. Sohail Sultan, CEO of iibanks, has been Awarded CEO of the Year in the Finance Industry by European CEO. This prestigious recognition underscores Mr. Sultan’s exemplary leadership, vast experience, and significant contributions to the financial sector.

The judging panel at European CEO was particularly impressed with Mr. Sultan’s extensive and distinguished career in the financial services industry. Sohail has 30 years of experience in financial services, acquired at leading multinational financial institutions.

“I have also been asked to pass on to you that in doing their due diligence and making their final decision, the judging panel were immensely impressed with Mr. Sohail Sultan in multiple ways,” the European CEO panel stated.

“Firstly, with Mr. Sohail Sultan’s immense and impressive high-level experience within the financial services sector, including starting his career at Citibank here in London, and subsequently reaching the position of not only the Head of Global Product Development for Financial Institutions but also the Head of Structured Finance for the Asia Pacific.”

Beginning his career at Citibank in London, Mr. Sultan quickly rose through the ranks to become the Head of Global Product Development for Financial Institutions, Head of Structured Finance for the Asia Pacific, and Head of Cross Border European Structured Product Arbitrage within six years. His roles included managing processes and risks, driving revenue, innovating products, and executing deals across Europe, the Americas, Africa, and the Far East.

Subsequently, Mr. Sultan worked at Barclays Capital in London for nine years, holding senior positions, including Managing Director. During his tenure, he was responsible for expanding the company’s Structured Capital Markets business beyond the UK into North America, Europe, and Asia Pacific.

Following his time at Barclays, he provided advisory services for private equity infrastructure projects in South Asia, the Middle East, and the UK at Cobussen and Partners, developing a portfolio of structured investments with private and institutional investors.

“The judging panel were also delighted to know that Mr. Sultan, in his 30 years of experience, has held senior positions at Barclays Capital, including Managing Director, along with working at Cobussen and Partners, where he provided expert advisory services,” the statement continued.

The panel highlighted Mr. Sultan’s continued demonstration of leadership, his achievements, and his ambition for iibanks’s expansion as crucial factors in their decision. “From the judging panel’s point of view, the leadership Mr. Sohail Sultan continues to demonstrate combined with his experience, achievements, and ambition for the group when it comes to expansion were important factors that the other shortlisted candidates could not compete with.”

This recognition by European CEO is a testament to Mr. Sultan’s dedication and the innovative spirit he brings to iibankss. His leadership has been pivotal in driving the company’s growth and success in an increasingly competitive financial landscape.

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The iib East Africa-Djibouti branch held on 16/02/2024, its annual strategic session at the Best Western Premier Djibouti Hotel to take stock of the achievements and progress achieved in 2023 and present the challenges and goals for 2024 Key stakeholders, executives and operational teams came together to reflect on past achievements, strategize for the future and foster team building in a friendly and inspiring atmosphere.

In his opening speech, Director General M. Maruf Ahmed gave a panoramic presentation of our bank’s past performance, highlighting milestones, successes and lessons learned. Through deep analysis and reflection, we celebrated our achievements and identified areas for growth and improvement.
Participants gained invaluable insights into emerging technologies, market trends, regulatory changes, and customer expectations, enabling them to chart a course for sustainable success.

In addition to stimulating discussions, the event featured interactive team-building activities designed to enhance collaboration, communication, and cohesion, to cultivate trust, improve problem-solving skills, and foster a culture of innovation and resilience.

#iib #iibanks #internationalinvestmentbank #iibeastafrica

iibanks took center stage at the Djibouti International Fair, Red Sea Exhibition, from December 3rd to 10th, presenting two captivating attractions that defined its participation at the event.

The main attraction of the event was the live Millionaires Draw, a riveting affair hosted by Djibouti’s own celebrated influencer, Omyreen. Attendees witnessed the excitement unfold as winners were announced, adding an element of thrill to the trade event.

In addition to this, iibanks showcased technological innovation with a thrilling VR experience featuring the #iib Millionaire’s Safe. Attendees were immersed in a virtual journey provided by iibanks at their stall. This dynamic presentation emphasized iibanks’ commitment to pushing the boundaries of traditional banking.

The event drew the attention of esteemed guests, including the Ministry of Education and the President of the Chamber of Commerce, who visited the #iib stall, acknowledging the bank’s active participation and innovative offerings at the exhibition.

Red Sea Exhibition_0002_Screenshot 2024-02-02 at 4.28.40 PM

Working with Sounah-Alhaya and other charitable organisations, iib Djibouti reached out to the community to help ease the burden off Eid-ul-Adha. Activities were centred around the distribution of food bags to needy families to help with the sentiment of feasting after fasting. Children clothing was also distributed and a party was held for the children to celebrate the occasion. iib also made a donation to special need school for children.