After four and half years with NAB, Mr Fahour will step down from the bank's principal board and group executive committee to accept an invitation from the Prime Minister and Treasurer to become interim chief executive of the 'Rudd Bank' or Australian Business Investment Partnership.
The $4 billion partnership aims to secure jobs in the commercial property sector and assist commercial property companies to refinance as foreign banks exit the Australian market.
Mr Fahour said he was leaving because the job he was employed to do had been completed successfully.
"Reflecting on my tenure with the National Australia Bank I have a sense of great pride and achievement and I relished the expansive role and the responsibilities handed to me by the board,'' he said.
NAB Chairman, Mr Michael Chaney said: "Ahmed has transformed the NAB's business in the Australian region.
"He initiated and carried out a programme of change which has been of great benefit to all stakeholders.''
NAB chief executive Cameron Clyne said Mr Fahour was leaving the Australian business in excellent shape and well positioned to meet the challenges inherent in the global economy.
Under Mr Fahour's leadership, the Australian region delivered cash earnings growth of 15.8 per cent for fiscal 2008, and underlying profit growth of 19.3 per cent over the previous corresponding period.
At a group level, NAB reported a 0.9 per cent fall in reported net profit
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