The appointment of Choudhury to the newly created post recognised his achievements as interim managing director, the Sharia-compliant retail bank said.
He oversaw the acquisition of the bank by Masraf Al Rayan QSC (Al Rayan), a Qatar-based Islamic bank.
Choudhury said: “IBB is considered a pioneer of British Islamic retail banking. It has been a privilege to be at the forefront of the bank’s past achievements, and I look forward to continue steering it through its exciting future as part of Al Rayan.”
IBB is celebrating its ten-year anniversary this year and Choudhury is the bank’s longest-serving employee. He joined when it was formed in 2004 and has since set up the head office operations and branch network.
As chief executive, Choudhury is working with the parent company to put a strategy designed for growth and profitability in place.
Future plans consist of expanding property finance to businesses, including development finance. IBB also aims to broaden its appeal and customer base further, encompassing Muslim and non-Muslim professionals.
The bank will also expand its services for Gulf-based customers looking to invest in the UK.