BisB appoints Abdul Razak Al-Qassim As Board Chairman

18-June-2013

Bahrain Islamic Bank (BisB) has announced that its Board of Directors held a meeting yesterday Tuesday, after completion of all formalities related to the purchase of The Investment Dar shares, which represents 51.6% of BisB capital, by NBB and SIO with 25.8% each.

During the meeting, it has been agreed that Mr. Abdul Razak Abdulla Hasan Al Qassim, be chosen as the new Board of Directors Chairman in place of Mr. Khalid Abdulla Al Bassam who has expressed his intention of quitting his position after eight years in the job so as to concentrate in his other businesses and he wished the new owners and the old shareholders every success.

On his part the Board has understood and was satisfied with Al Bassam excuse and thanked him for all the efforts towards the Bank in the past years and wished him all the well being in his future.

After that, the Board has decided to invite the shareholders for an Ordinary General Meeting for the election of a new Board of Directors in accordance to the current laws of the Kingdom of Bahrain so as to reflect the changes that occurred in the ownership of the Bank.

The Bank will invite its shareholders for an Ordinary General Meeting to be held on 7^th July 2013 after securing the required approvals.