Diamond Trust Bank (DTB) have promoted the lender’s Chief Finance Officer Alkarim Jiwa to the Board, appointing him as the bank’s Executive Finance Director.
DTB Company Secretary Stephen Kodumbe made the announcement in a letter to the Nairobi Securities Exchange (NSE) in which he also announced the effective date which Mr. Jiwa will be assuming his new responsibilities.
“Mr Alkarin Jiwa has been appointed as the Executive Finance Director of the bank with effect from 12 September 2018,” Mr. Kodumbe said.
The experienced CFO has been at the helm of managing the bank’s finances since 1998. As an executive director, Mr. Jiwa will retain daily management responsibilities over DTB in a position which will be similar in managing the lender’s financial health albeit with more responsibilities.
Mr. Jiwa is a Strathmore College School of Accountancy alumni and is also a member of the Association of Chartered Certified Accountants (ACCA). Prior to joining DTB as CFO, Mr. Jiwa was an audit manager for nine years at PKF Kenya between 1989 and 1998.
The DTB announcement is dated on the same day that the lender was one of five banks fined by the Central Bank of Kenya (CBK) for being tied to i*****l transactions linked to the National Youth Service (NYS) s*****l.
The bank however responded by saying no fine had yet been imposed but that the lender was working on responding to CBK within 14 days on why DTB should not be fined Ksh56 million.