The Board of Directors of Commercial Bank of Qatar announced the appointment of Abdulla Saleh Al Raisi to the role of Chief Executive Officer. Mr. Al Raisi joined the bank in 1998 and worked in both the Retail and Corporate banking divisions before being appointed as Deputy CEO in March 2007. Mr. Andrew Stevens, will continue as the Group Chief Executive Officer with Mr. Al Raisi's appointment allowing Mr. Stevens to focus on driving the Bank's international strategy as well as the management of the investments the Group has made in National Bank of Oman, United Arab Bank, and most recently Alternatifbank in Turkey, which received regulatory approvals from the Banking Regulation and Supervision Agency and the Capital Markets Board of Turkey last month.

Mr. Stevens will continue to report to the Commercial Bank Board of Directors and will lead the further development and implementation of the Alliance between the Group's four Banks, which aims to drive cross border revenue growth and identify cost synergies to enhance profitability.