Islamic Liquidity Management Corporation replaces CEO
The International Islamic Liquidity Management Corporation (IILM) has hired Rifaat Ahmed Abdel Karim to replace Mahmoud AbuShamma as chief executive. The IILM is backed by a number of central banks with a vested interest in Islamic finance.
It is unclear why AbuShamma, who previously worked in the Islamic banking unit at HSBC, appears to have left his role early. Local media reports say he was given a three-year contract when he joined the IILM in February 2011. AbuShamma could not immediately
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