JEDDAH, 14 April 2008 — Bank Aljazira has appointed Khaled Wadgheri Al-Hasani as executive president, an official statement said. Taha Al-Kuwaiz, the bank’s chairman, said the appointment would contribute to effectively implementing the bank’s new strategy aimed at increasing profitability. “Our bank is now focusing on enhancing infrastructure, recruiting highly qualified professionals and applying modern technology,” Al-Kuwaiz said. “We are also offering new Shariah-compliant products,” he added.
IIB Launches IPO in Tunisia
MANAMA, 14 April 2008 — Bahrain-based International Investment Bank (IIB), a globally-focused Islamic Investment bank, made a debut in Tunisian market through a successful Initial Public Offering (IPO) of Artes, the exclusive distributor of Renault, Nissan and Dacia in Tunisia.
Standard Chartered Bahrain Reports Gains
MANAMA, 14 April 2008 — Standard Chartered Bank Bahrain (SCBB) has announced strong financial gains with revenue rising to BD 41.6 million, up 23 percent in 2007 on year on year basis. The bank said that in 2007 it had recorded the highest operating income ever achieved since 1999.