Bahrain’s Al-Salam Bank appoints new chairman

Sheikh Khalid bin Mustahail Al-Mashani
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Updated 14 April 2020

Bahrain’s Al-Salam Bank appoints new chairman

Al-Salam Bank-Bahrain has announced the appointment of Sheikh Khalid bin Mustahail Al-Mashani as the chairman of the board of directors, replacing Khaleefa Butti bin Omair bin Yousif Al-Muhairi, who submitted his resignation as chairman and board member of the bank.
Sheikh Khalid said: “We regret to announce the resignation of our colleague, Al-Muhairi, as chairman and board member for personal reasons. We would like to take this opportunity to put on record our sincere thanks to Al-Muhairi for his instrumental contribution to achieving the bank’s objectives during his chairmanship since 2018. During his tenor, the bank was successful in acquiring market share, increasing profitability, and growing the deposit base and financing book.”
He added: “We, as board of directors, would like to confirm that the bank will continue its solid strides toward implementing the three-year strategy which is designed to gear us for further financial success in the local, regional and global markets. Building on our key core values of sound corporate governance, transparency and prudent financial policies, we plan to continue our journey toward maximizing shareholder value. We are confident that with our robust capital and liquidity positions and our strong management team, the bank will be able to navigate through current market challenges, including the outbreak of COVID-19 and its implications on the global economies.”
Sheikh Khalid has more than 24 years of banking experience.


Hyundai donates 24 vehicles to Saudi Red Crescent

Updated 20 October 2020

Hyundai donates 24 vehicles to Saudi Red Crescent

Hyundai Motor Company is supporting the Saudi Red Crescent Authority’s (SRCA) ongoing efforts to combat the COVID-19 pandemic by contributing 20 fully equipped ambulances and four support vehicles of the Hyundai H-1 model. The automaker aims to assist the frontline workers and public during these unprecedented times by offering the H-1 ambulances to seamlessly transport the health care professionals, the elderly and others.

The contribution is part of Hyundai’s commitment to giving back to the community and supporting the SRCA’s remarkable work in addressing the spread of the coronavirus in Saudi Arabia.

Hyundai is working hand-in-hand with its authorized distributors in the Kingdom — Al-Wallan Trading Company, Mohamed Yousuf Naghi Motors Company and Almajdouie Motors — to align its efforts with the government’s directives to deal with the situation.

Hyundai’s distributors will work closely with the official authorities in Saudi Arabia to deliver the vehicles directly to the SRCA.

Bang Sun Jeong, vice president and head of Middle East and Africa operations at Hyundai, said: “Caring for humanity has always been at the heart of Hyundai’s vision. We did not hesitate in taking this initiative with Hyundai distributors in the Kingdom during these challenging times, and we are proud of their association with the Saudi Red Crescent Authority in the fight against this pandemic.

“This contribution is another step in the direction of making a positive difference in the Saudi community and we believe by strengthening the relationships between the private and public sectors, it will benefit the Saudi Red Crescent Authority and help support members of the community across the Kingdom.”

He added: “We sincerely hope our efforts contribute toward making a difference in this fight, and we believe if we stay together, we can overcome anything. We hope this pandemic can soon come to an end and we can help people get back to their daily lives.”

Established in 1967, Hyundai Motor Company offers a range of vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles globally in 2019, and currently employs some 120,000 personnel worldwide. The company is enhancing its product lineup with vehicles designed to help usher in a more sustainable future, while offering innovative solutions to real-world mobility challenges.