Taib Bank appoints new directors
Manama, October 13, 2011
Taib Bank has announced the appointment of three new non-executive directors representing the interests of its majority shareholder, Dubai Financial Group, which is a part of Dubai Holding.
The Taib Bank management team, lead by Sohail Sultan, has been engaged in a comprehensive plan to restructure and refocus the bank over the past several months, the bank said in a statement.
The appointment of the additional board members will add to the wealth of the business and financial experience of the bank with its focus in the Mena region.
The bank provides wealth and asset management, treasury, risk and brokerage services to its clients across the region through banking platforms in Bahrain, UAE, Turkey, India and Kazakhstan, it said.
The newly appointed directors are Abdulrahman Hareb Rashed Al Hareb, Fareed Abdulrahman Moosa Ismail, and Fahad Ahmed Abdulla Al Shaaaer Aal Ali.
“Our board of directors represents the interests of major shareholders from the UAE and Saudi Arabia. The minority shareholders are represented by our three independent directors. The board provides significant guidance to our management team as we complete the restructuring and repositioning of the bank in order to deliver financial solutions as a pre-eminent intermediator of capital flows across the region,” Sultan said.
The Bahrain-based bank was established in 1979 and has its headquarters in Manama. It is regulated by the Central Bank of Bahrain and is listed on the Bahrain bourse. – TradeArabia News Service
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