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Article: Bahrain: Green signal for Ithmaar revamp.

Article from:
TendersInfo
Article date:
November 6, 2009
Copyright

Byline: babalu03

Ithmaar Bank shareholders yesterday voted to transform the Bahrain-based institution into a commercial bank and fuse it with its wholly owned retail subsidiary Shamil Bank.

Ithmaar is pushing ahead, with full force, towards completing in the shortest time possible, plans for a comprehensive reorganisation, which is hoped will be in situ by February or March.

The plans, which will turn Ithmaar Bank into a premier Islamic retail bank, involve both banks pooling their resources together to create a single, more efficient and significantly stronger retail-focused bank with an Islamic licence, under the Ithmaar brand.

The ...

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