BisB Shareholders Endorse the Ordinary General Meeting's Agenda

28-March-2013

The Bahrain Islamic Bank Ordinary General Meeting approved all the topics on its agenda in an atmosphere of complete understanding by all the participants. 

In a statement following the Ordinary General Meeting, Mr. Khalid Abdulla Al Basam, Board Chairman said:

"All the topics on the agenda of the Ordinary General Meeting were approved by the shareholders present in person and by proxy, with an attendance level of 85.27%. The discussions during the meeting were constructive and the deliberations were attended by representatives of the Central Bank of Bahrain, Ministry of Industry and Commerce, Bahrain Bourse and the Bank's external auditors and share registrars. The event was also covered by the local press."

In his remarks, the BisB Chairman said 2012 was one of the most difficult years experienced by the Bank owing to the continued consequences of the global financial crisis and slow recovery of the world economy, which adversely affected banking institutions in general and Bahrain Islamic Bank in particular. He added thanks to the prudent policy pursued by the Bank it was able to compete in difficult circumstances and was able to achieve the required growth and to continue to develop the Bank's services.

Meanwhile, BisB Chief Executive Officer expressed his thanks and appreciation to all the shareholders present in person or by proxy for their support to the Bank through their approval of all the topics on the meeting's agenda.  He reiterated his strong determination to work hard together with all the staff members to achieve better results this year.  He further said that the Bank greatly relies upon providing Islamic finance to private customers, companies, government and non-government Islamic Sukuks while avoiding investments in high risk investment and real estate portfolios.

Meanwhile, BisB Chairman expressed his thanks and appreciation to the leadership of the Kingdom of Bahrain for the facilities and support given to the banking sector in general and to the Islamic banking and financial sector in particular. He also expressed his thanks to the Ministry of Industry and Commerce and Central Bank of Bahrain for their guidance and assistance, to all the Bank's shareholders.

He also thanked the customers for their patronage with the Bank, members of the Board of Directors, Sharia Supervisory Board and to all the Bank's employees.  He urged them to make more efforts hoping that 2013 and the following years would herald further growth and success for the Bank.