Bahrain Mirror (Exclusive): Al-Ebdaa Bank is mistaken to defend its deceitful CEO Khalid Al-Ghazzawi. A fake degree remains fake, whether it was academic or professional. And as long as the party that issued it is fraudulent, everything it issues is fake no matter what the degree's category or type is. Furthermore, the holder of this fake degree acts based on it and is being addressed based on it, including his correspondences with the Bahraini Royal Court.  

We stand here before a clear case. A CEO who admits- after being exposed- that he paid over  $13,000 in order to purchase a PhD degree from the fake "Ray" university. It is too late. Mumbling about it being an "academic" PhD rather than "professional" can only convince its forger and help him find some temporary excuses to face the public opinion with. However, this will never not at any instance be in accordance with Bahraini laws, or the laws of the Central Bank of Bahrain that regulates the banking sector. Having a fake professional PhD is the same as having a fake academic PhD; acquiring it is a crime that can't be whitewashed by any means.

Until the date of writing these lines (August 27, 2018), the introduction of the bank's CEO remains on the bank's official page. It says he "holds a PhD in international business administration from the USA". This is a blatant lie. Despite the scandal that was widely spread in the country, the bank insists on stating its chief holds a qualification that he doesn't have. A qualification that he claimed to have and was later forced to admit forging it in front of everyone. How can a Bahraini bank lie to its customers in this way? How can it increase its profits and revenues by creating a climate of distrust and lack of transparency in its data?

Al-Ebdaa Bank chairwoman Mona Al-Moayyed statement's noting that "the bank is aware that Dr. Al-Ghazzawi's PhD is a professional doctorate in international business administration", constitutes evidence of his guilt not his innocence. The bank is also involving itself with a man who holds a false doctorate. Recent government directives have claimed that they will confront such perpetrators. There is no real university in the USA named "RAY". It is a fake university that only exists in Al-Ghazzawi's mind and those who enjoy being deceived by him, like Mona Al-Moayyed. The fact that this impostor remains at the top of his post is a real test to the procedures of the Central Bank of Bahrain and all its claims in establishing a transparent regulatory and banking environment that is suitable for investment and attracting capitals.

The presence of a CEO who forged his qualifications at the helm of a Bahraini bank is detrimental to the country's economy. It simply contributes to creating a financial environment that lacks true information and trust.

Arabic Version