With over 24 years of asset management experience, Favrin will report to Mohamed Al Khoori, executive director, at the Internal Equities Department.
"The new phase aims at unifying the management teams within our two Islamic arms," Rick Pudner, group CEO of Emirates NBD, said in a statement.
Hashel, who has been the deputy governor for several years, was promoted to acting governor last month after former central bank chief Shaikh Salem Abdul Aziz Al Sabah resigned in protest against a steep rise in spending.
He was deputy chief executive of the fund since 2006, was also mostly recently the chief executive of Bahrain-based labour fund Tamkeen, Mumtalakat said in a statement.
Libya, Egypt and Tunisia have seen renewed interest in Islamic finance since last year's uprisings toppled governments which neglected or discouraged the industry for ideological reasons. Oman announced last May that it would introduce Islamic financ
Emirates NBD ENBD.AD, Dubai's largest bank which has been grappling with impairments, plans to lay off up to 15 percent of its workforce, two sources familiar with the matter said on Monday.
The Middle East bourse has appointed Rod Banus, the former head of futures for Asia-Pacific at Barclays Capital, to head up its customer relations efforts, Financial News has learned.
Prior to re-joining UGB in 2009, he held senior operating positions in KIPCO Group Companies including Chief Executive Officer, United Gulf Financial Services Company, Qatar and Group Chief Financial Officer, Wataniya International FZ LLC.
“As Zurich continues to expand its presence in Kuwait, Anas’s in-depth understanding of the local market will be invaluable,” said Maroun Mourad, CEO of Zurich’s General Insurance business in the Middle East.