International Investment Bank elects new Board members

International Investment Bank (IIB), a globally focused investment bank based in the Kingdom of Bahrain, has elected new board members, held yesterday 4th November 2007 during its Ordinary General Meeting (OGM) at the Ritz Carlton Hotel, Bahrain.

Bahrain: Wednesday, November 07 - 2007 at 09:53
PRESS RELEASE

IIB Board of Directors during the company's OGM.

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His Excellency Mr. Saeed Abdul Jalil Mohammed Al Fahim, Chairman of IIB, presided over the meeting. The following board members were appointed:

1. Mr. Saeed Abdul Jalil Mohammed Al Fahim, Chairman
2. Mr. Ahmed Salem Bugshan, Vice Chairman
3. Mr. Aamer Abdul Jalil Mohammed Al Fahim, Director
4. Mr. Ali Hashim Sadiq Hashim, Director
5. Mr. Abdul Wahab Mohammed Al Wazzan, Director
6. Mr. Ebrahim Eshaq Abdulrahman, Director
7. Mr. Bader Ibrahim Ibn Saedan, Director
8. Mr. Fahad Fouad Bubshait, Director
9. Mr. Ali Haidar Sulaiman Al Haider, Director

The new Board will serve for a three-year term.

The results for the 3rd quarter of 2007 were also announced, that reflect a rise in net income of 119.8% to $14.0m, compared to $6.4m earned in the first 9 months of 2006.

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About International Investment Bank
International Investment Bank B.S.C. (IIB) was incorporated in Bahrain in October 2003 as an Islamic investment bank, with an authorised capital of $200m and a paid up capital of $43m. It is currently engaged in a combined rights issue and private placement offering that is expected to increase the issued share capital to US$ 100 million and total equity to over $175m. The Bank's shareholders are high net worth individuals, business houses and institutions from the GCC states. The Bank undertakes three core business activities - private equity, real estate and asset management - and aims to offer its clients an internationally diversified range of investments generated through its network of strategic partnerships.

Media Contact:
Reem Ayoub
Public Relations Officer
Tel: (+973) 17565064
Fax: (+973) 17565050

Posted by Anne-Birte Stensgaard, Senior News Editor
Wednesday, November 07 - 2007 at 09:53 UAE local time (GMT+4)

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