Amir Firdaus will join Offa as chief financial officer and Sagheer Malik as chief commercial officer.
The pair, have over 35 years combined experience in UK Islamic finance between them and join Offa executive chairman Sultan Choudhury OBE and chief executive officer Bilal Ahmed ahead of the firm’s planned relaunch into the British market.
Both Firdaus and Malik have moved from the UK’s largest Islamic bank Al Rayan Bank.
Firdaus will be part of a team which will aim to deliver scalable systems and processes to ensure efficient customer service.
He will also be working with global banks, private equities and family offices to obtain and structure funding lines for OFFA, with the potential of launching capital markets products in the future.
Firdaus, a chartered accountant, was CFO and head of treasury at Al Rayan Bank. His 20 year career has included roles at Aldermore Bank and Sainsbury’s Bank. While he was head of asset and liability management at Aldermore Bank its balance sheet grew from £150m to £4.5bn.
Malik was previously head of premier and retail assets at Al Rayan Bank. He has 15 years’ experience in Islamic banking and has developed and overseen a multi-channel distribution of Sharia-compliant products in the UK and worldwide, generating more than £1 billion from property finance.
He will be responsible for driving the new lender’s sales and marketing of existing bridging finance products, as well as developing new real estate financial products and services. He will also oversee the sales, marketing, customer services, and product development functions, as well as expanding Offa’s distribution channels.