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Message from the Board
Our Board
Our Board Of Directors includes 11 members with diverse experience in various fields including law, banking and management.
Mr. Madabhushi Soundararajan
Board Chairman
Mr. Madabhushi Soundararajan
Board Chairman
Mr. Soundararajan’s illustrious banking career spans about four decades, initially in India and the United States of America and then in Kenya from 1988. He has held senior executive and leadership positions in Standard Chartered Financial Services as Assistant Director, Corporate Finance, Commercial Bank of Africa (now NCBA) as Director, Corporate Banking, CFC Financial Services (now SBG Securities) as its first Managing Director and CFC Bank as Managing Director before its acquisition by Stanbic Bank in 2008. He is currently the Country Head of Meghraj Group of Companies in Kenya. Mr. Soundararajan also serves on the Board of I&M Bank Kenya where he has been an Independent Non-Executive Director since 2009. He also sits on the boards of GA Insurance, GA Life Assurance, GA Insurance-Tanzania and Car & General (Kenya) Plc. He served on the board of Central Depositary & Settlement Corporation (CDSC) for four years from 2004 to 2008. Mr. Soundararajan holds a Master of Arts degree from Madras University, India and a Certificate in International Banking from New York University.
Mr. Zahid Mustafa
Chief Executive Officer (C.E.O) and Managing Director (MD)
Mr. Zahid Mustafa
Chief Executive Officer (C.E.O) and Managing Director (MD)
Zahid is an experienced banker, with over 27 years in the industry and a strong track record of business development and growth. He has worked in multiple geographies, including in Asia, the Middle East, and Africa. Zahid has demonstrated strong leadership and business skills, with an emphasis on Retail, Digital, and Business Banking. He nurtures a culture of innovation, customer-centricity, and teamwork. As such he is well positioned to successfully drive the I&M Group’s strategic aspirations in Tanzania to the next level. He holds a Master of Business Administration (MBA) and a Bachelor of Chemical Engineering from Lahore University of Management Sciences (LUMS), and the University of Engineering and Technology (UET) respectively.
Ms. Raeesha Fakira
Independent Non-Executive Director
Ms. Raeesha Fakira
Independent Non-Executive Director
Raeesha Fakira is a seasoned finance professional with extensive experience in investment management and risk advisory services. Currently, she serves as the Country Manager for Mauritius and the Indian Ocean at Kibo Capital Partners, where she oversees a diverse portfolio and ensures strategic growth. Before this, Raeesha gained valuable experience at Deloitte Mauritius, where she worked on significant projects, including the implementation of IFRS 9 for major banks. She holds a bachelor’s degree in accounting and finance from the University of Southampton. She is also a member of the Institute of Chartered Accountants of England and Wales (ACA).
Mr. Paresh Manek
Independent Non-Executive Director
Mr. Paresh Manek
Independent Non-Executive Director
Mr. Paresh Manek is a seasoned businessman with over 35 years of experience across various industries in Dar es Salaam. He has held key leadership roles, including Director and Managing Director positions in multiple companies, where he has driven business growth, strategic planning, and operational efficiency. Paresh is known for his strong financial management skills, problem-solving abilities, and expertise in business development. His leadership has been instrumental in improving customer satisfaction and enhancing organizational performance.
Mr. Jamhuri Ngelime
Independent Non-Executive Director
Mr. Jamhuri Ngelime
Independent Non-Executive Director
Mr. Jamhuri Ngelime is a distinguished finance professional with over 35 years of experience in various sectors. He served as the Director of Finance at the Bank of Tanzania until 2022, where he managed substantial financial assets and ensured compliance with international financial standards. Previously, he was the Chief Financial Officer at TANESCO, where he significantly improved the company's financial performance and governance. He also played a key role in the privatization of major state enterprises while working as a Senior Consultant for PSRC. Jamhuri holds a master’s degree in Banking and Finance and is a Certified Public Accountant.
Mr. Christian Shirima
Independent Non-Executive Director
Mr. Christian Shirima
Independent Non-Executive Director
Mr. Christian Shirima was appointed as an Independent Director of I&M Bank Tanzania in 2023. He began his career at Precision Air Tanzania in 2013 as an Aircraft Maintenance Technician. He later served as a Maintenance Controller in 2015, a Senior Development and Reliability Engineer in 2017, and a Licensed Aircraft Maintenance Engineer in 2019. In 2021, he became the Manager of the Workshop, and since 2023, he has been serving as the Manager of Projects and Client Services.
Hon. Ambassador Amina Ali
Independent Non-Executive Director
Hon. Ambassador Amina Ali
Independent Non-Executive Director
Hon. Ambassador Amina Ali was appointed as an independent director at I&M Bank Tanzania in 2023. She is a former Minister for Trade and Industry for the Revolutionary Government of Zanzibar, United Republic of Tanzania. She served as an Ambassador and Head of Mission in Washington D.C. USA in 2015, and as an ambassador in Zanzibar in 2020.
Mr. Alan Mchaki
Independent Non-Executive Director
Mr. Alan Mchaki
Independent Non-Executive Director
Mr. Alan Rodrick Mchaki was appointed as an Independent Director of the bank with effect from 26th September 2016. He is a fellow member of Association of Chartered Certified Accountant of UK and Certified Public Accountant in Tanzania. He serves as Chairman of Board Risk Committee and a member of Board Audit Committee. He is also an Associate at Swaziland Institute of Accountants. Mr. Alan has over 30 years working experience covering public practice with two major accountancy firms and in industry, including amongst others, oil marketing, television broadcasting, health service delivery and mutual fund management; where he held directorship roles in finance. He is currently also practicing as an independent management consultant.
Mr. Kihara Maina
Regional Chief Executive Officer
Mr. Kihara Maina
Regional Chief Executive Officer
Mr. Kihara Maina was appointed as an Independent Director of the bank in 2024. Mr Kihara Maina became the Regional Chief Executive Officer in January 2023. He joined I&M Bank Kenya as the Chief Executive Officer and Board member in May 2016. He holds a Bachelor’s degree in Mathematics from Moi University and an Executive MBA from the University of Chicago – Booth School of Business. Mr Maina, began his banking career in June 1993 at Stanbic Bank Kenya then moved to Barclays Bank Kenya in 1997 where he served extensively over the years ultimately taking up senior leadership positions. Prior to joining I&M Bank, Kihara was the Managing Director of Barclays Bank Tanzania.
Mr. Emmanuel Johannes
Independent Non-Executive Director
Mr. Emmanuel Johannes
Independent Non-Executive Director
Mr. Emmanuel Johannes was appointed as an Independent Director of I&M Bank Tanzania in 2021. He serves as a board member of the Institute of Internal Auditors and was the Auditor Chairman of the Board of the African Federation of Institutes of Internal Auditors (AFIIA) from 2019 to 2023. He has been the Chief Executive Officer at Keple Associates since 2011. Mr. Johannes holds certifications in the Governance of Enterprise IT (CGEIT) and is a Project Management Professional (PMP). He also holds a Master of Business Administration from the University of East London.
Mr. Shameer Patel
Non-Executive Director
Mr. Shameer Patel
Non-Executive Director
Mr Shameer Patel was appointed as a Director of the Bank on 11th September 2013. He is the member of the Board Audit Committee and Board Risk Committee. He has more than 15 years of experience in Banking covering credit, operations and strategic planning. Mr Shameer Patel is part of the senior management team at I&M Bank Ltd, Kenya and heads the CEOs Office function with responsibilities covering various strategic initiatives and monitoring of subsidiaries within the banking group.