Ithmaar B S C : Opens the nominations for BOD membership
August 17, 2022 at 01:24 am EDT
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Announcement Regarding Nomination for Board Membership
Ithmaar Holding B.S.C. (the "Company") would like to announce the opening of the election for candidacy of four (4) Board of Directors' membership for a three (3) year term (2022-2025). The election process will be carried out during the upcoming Ordinary General Meeting to be scheduled in September 2022 (the "Meeting").
Conditions for Nominations:
Must have the legal capacity to transact.
Must not have been convicted in a crime involving negligent or fraudulent bankruptcy or a crime affecting one's honour or involving a breach of trust or in a crime on account of one's breach of the provisions of the Bahrain Commercial Companies Law (Law No. 21 for the year 2001 and its amendments) (the "Companies Law"), unless later reinstated.
Shall not be prohibited from being a member in the Board of Directors of a joint stock company in accordance with the provisions of the Companies Law or any other laws enforced in the Kingdom of Bahrain.
With respect to the board's chairman or the deputy chairman positions, the candidate must not hold any of the aforementioned positions simultaneously with the position of the CEO of the company or its equivalent.
Must have good understanding of the industry and its regulatory environment, and experience to demonstrate sound business decision making.
Shall not hold other directorships in investment financial institutions inside Bahrain.
Shall not hold more than three (3) directorships in other public joint stock companies in Bahrain, with the provision that no conflict of interest may exist (which includes having an interest in companies in the same line of business).
Required Documents:
Duly completed and signed Central Bank of Bahrain's ("CBB") Application for Approved
Person Status "Form 3", which can be downloaded from the CBB's website: (https://cbben.thomsonreuters.com/sites/default/files/net_file_store/Vol_4_Form_3_Janu ary_2022.pdf), and fulfil all the requirements mentioned therein.
Certified copies of valid passport and valid National ID.
Candidate's latest Curriculum Vitae (CV).
Certified copies of academic and professional qualifications.
List of any act performed or work done that, directly or indirectly, constitutes competition with the Company.
List of names of companies and entities in which the candidate works or is a member of their boards of directors.
List of positions held that require considerable time.
Latest credit reference report from a credit reference bureau.
Every candidate wishing to nominate himself/herself or a representative is invited to furnish the Company with all required documents mentioned in this announcement either by submitting by hand or via renowned international courier service to be delivered to the Company's address: Corporate Secretary, 15th floor, Seef Tower, Building 2080, Road 2825, Seef District 428, Kingdom of Bahrain or via email at: IR@ithmaarholding.com.
Such documents need to be provided to the Company no later than Tuesday, 30 August 2022, in order to be approved by the regulatory authorities in a timely manner, prior to the Meeting.
The Candidates' names and relevant information will be disclosed on the bourses' (Bahrain Bourse and Dubai Financial Market) and Company's website, simultaneously with the publication of the Meeting agenda.
Should you require any further information, please do not hesitate to contact us on +973 17585094 or IR@ithmaarholding.com.
Amr Mohammed Al Faisal
Chairman of the Board of Directors
17 August 2022
Name
Saqib Mustafa
مسلإا
Title
Authorize signatory
يفيظولا ىمسملا
Company ةكرشلا متخ
Signature عيقوتلا
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Ithmaar Holding BSC published this content on 17 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2022 05:23:05 UTC.
Ithmaar Holding BSC, formerly Ithmaar Bank BSC, is a Bahrain-based company that offers, together with its subsidiaries, a range of financial services, including retail and commercial banking, investment banking, private banking, takaful, equipment leasing and real estate development in accordance to Islamic sharia principals. The Bank is organized into the following business segments: the Funds under Management segment, which manages clientsâ funds as a mudarib on trusteesâ basis; the Retail and Corporate Banking segment, which offers financing to its customers, and the Asset Management/Investment Banking segment, which is engaged in investment opportunities. The Bank operates through its head office and a network of over 15 commercial branches located across Bahrain. The Bankâs subsidiaries include Faisal Private Bank (Switzerland) SA, Cantara (Switzerland) SA and DMI Administrative Services SA, among others.