Pearl Digital has appointed Fahim Shafiqi as its Chief Risk Officer, following approval from the Central Bank of Bahrain under the Stablecoin Issuance and Offering module. The appointment adds experienced risk leadership to the company’s senior management team as it continues to develop its regulated stablecoin business.
Shafiqi brings more than 25 years of international financial services experience, including 16 years with Standard Chartered Bank across the UK, Qatar, the UAE and Bahrain. He concluded his tenure at the bank as Country Chief Risk Officer for Bahrain and Qatar before moving into senior leadership roles across banking and fintech.
Fahim Shafiqi brings extensive risk leadership experience
Before joining Pearl Digital, Shafiqi held Chief Risk Officer positions at Bahrain Islamic Bank (BisB), iFAST Global Bank Limited, Bank of London and Middle East, and TransFi. His background spans enterprise risk management, governance, regulatory compliance and financial risk across both traditional banking and financial technology organisations.
According to the announcement, he rebuilt the risk function at Bahrain Islamic Bank and developed the bank’s first formal risk appetite statement. He also became the inaugural Chief Risk Officer at iFAST Global Bank Limited in the UK. In addition, he is approved by the UK regulators as SMF4 and SMF16 and is recognised as a Central Bank of Bahrain Approved Person.
Pearl Digital strengthens risk leadership
In his new role, Shafiqi will lead enterprise and financial risk management across Pearl Digital. His responsibilities include overseeing the company’s stablecoin ratings and its on chain foreign exchange book.
He will also work alongside Layla Alqassab to provide independent risk oversight and governance for the depository trust company and the reserve asset base. The announcement identifies these responsibilities as part of Pearl Digital’s governance framework for its regulated stablecoin operations.
Pearl Digital describes itself as an in principle approved stablecoin issuer operating under the Central Bank of Bahrain’s Stablecoin Issuance and Offering module. The announcement does not include executive quotes, an effective appointment date or additional details about the company’s broader leadership strategy, reporting structure or organisational changes linked to the appointment.
