Browse
related articles
Mr. Khalid A. Al Bassam, Chairman of CMH said,
"The issue of bonus shares provides CMH with sufficient balance sheet strength to increase its participation in the local and regional markets and complete the formalities of upgrading our operating license. 2008 was a significant year in terms of our financial performance with return on average capital of 27.8% and these results are based on our investment insight and prudent approach to our investment strategies and timely exits. 2009 will bring additional challenges and opportunities and as a wholesale Islamic Investment Bank we will now be able to provide our shareholders and clients with a wider variety of investment opportunities. We are also pleased to announce that the shareholders approved the appointment of Mr Abdulhakeem Al-Khayyat and Mr Fahad Abdullah Al-Rajhi to join our Board of Directors."
Mr Khalid Najibi, Vice Chairman and Managing Director of CMH added, "The approval by shareholders of this initiative further enhances the strength of the CMH business model. Despite the global turmoil we had excellent results. Our income increased by 255.6% over 2008. We anticipate that 2009 will be a challenging year however being a larger institution with greater access to participation with our local and regional clients, we anticipate that we will meet and exceed our shareholders' expectations."
Posted by Rima Ali Al Mashni
