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Al-Khabeer stable despite crisis, says chief

Jeddah, July 20, 2009

Al-Khabeer Capital, Saudi financial and sharia’a investment complaint firm, has overcome the global financial crisis and is operating at full capacity in terms of human and financial resources, a top official of the bank said.

Ammar Ahmed Shata, executive director of Al-Khabeer was speaking at the bank’s first extraordinary general assembly in Jeddah, which as attended by at least 95 per cent of its shareholders. The meeting was headed by Saleh Bin Mohammed Bin Laden, chairman of Al-Khabeer.

The meeting's agenda covered various topics, while there were announcements about several decisions that were made unanimously, including changing the name of the company from Al-Khabeer Merchant Finance Corporation to Al-Khabeer Capital.

In addition, the assembly also approved the chairman as well as the auditor’s report for the fiscal year ending December 31, 2008. While the board members were also cleared of their responsibilities, the new auditor for the fiscal year 2009 was also appointed.

Shata said: “The adoption of the extraordinary general assembly’s decisions as well as the recommendations and the continuous support of the shareholders will give a strong impetus for the company to implement its current, future plans and strengthen its position in providing financing solutions that are compliant with Sharia’a principals.”

“Consequently, we are perfectly capable of achieving the desired results in 2009,” he added. – TradeArabia News Service




Tags: Jeddah | Al-Khabeer | General meeting |

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