Dubai Islamic Bank appointed Fadhel Abdulbaqi Al Ali as chairman of its board, effective 30 September 2026. The bank said Al Ali succeeds Mohammed Ibrahim Al-Shaibani, who stepped down as chairman and a board member effective 20 September for personal reasons. Al Khaleej reported that the appointment followed a no-objection from the Central Bank of the UAE. DIB describes itself as the largest Islamic financial group in the UAE.
Al Ali joined the board as an independent, non-executive member with immediate effect for the remainder of its current term, according to Al Khaleej. His appointment will be presented to shareholders for ratification at the bank’s next general meeting. The newspaper said the board made the decision after receiving the central bank’s no-objection.
A GOVERNANCE AND BANKING BACKGROUND
Dubai Islamic Bank said Al Ali has more than 30 years of experience across corporate governance, banking, investment, real estate and hospitality. He currently chairs the Dubai Financial Services Authority and Majid Al Futtaim Capital, and he sits on the board of Commercial International Bank Egypt. He is also a member of Dubai’s Higher Committee for the Development of the Economic and Financial Sector and its Financial Stability Council.
His previous executive roles include chief executive of Dubai Holding and deputy chief executive and group chief operating officer of First Abu Dhabi Bank. The bank said its board expects his leadership experience to support the execution of its long-term priorities.
SUCCESSION MOVES TO SHAREHOLDER RATIFICATION
The appointment follows Al-Shaibani’s departure from both the chairmanship and the board. Dubai Islamic Bank credited him with supporting the group’s growth and transformation during his tenure. The bank said it remains focused on sustainable growth, financial discipline and institutional strength under the new board leadership.
The next formal milestone is shareholder ratification of Al Ali’s board appointment at the coming general meeting.