The committee will liaise with the company at regular face-to-face meetings, establish regular reporting processes and will appoint a qualified individual to be the first contact point for all TID banks and investors to disseminate information.
The members of this committee include Al-Rajhi Bank, Bank of Bahrain & Kuwait, and Arab Banking Corporation.
“We would like to express our sincerest gratitude to the previous coordinating committee whose hard work and commitment was instrumental in assisting the company to navigate the restructuring process,” said Abdullah Al-Humaidhi, CEO of the Investment Dar.
He said the establishment of the investors’ coordination and liaison committee is in line with TID’s commitment to ensure compliance with international best practice, maximizing visibility and transparency for its banks and investors.
“We are grateful to the banks, who have volunteered to become members of the new committee and look forward to working with them as we seek to expedite the implementation of the restructuring plan,” he added.
