Capital Bank elects new Chairman of the new Board

The new members of the board include Mr. Kim Abu Jaber, Sheikh Nehayan Bin Hamdan Alnehyan, Mr. Samir Murad, representatives of Hotaf Investment Company, representatives of Al-Jadara for Real Estate Investment, representatives of the Investment and Integrated Industries Company, and representatives of Al-Khalil Investments. An additional two seats will be occupied by the Social Security Corporation.

Commenting on this news Mr. Haytham Kamhiyah, Capital Bank's General Manager, said:

"We welcome the new board, confident that their addition to the Bank will bring in a number of positive outcomes that will be felt by all those who are involved with the Bank, from our customers, to our shareholders and employees."

"The Board's Chairman and members were elected because of our belief in their extensive professional history; vast knowledge and experience that will help elevate Capital Bank's operations. This will also support our management policy in accordance with the principals of good governance that were placed according to international best practice, in a matter that reflects strength and good judgment in the decision making process that will be adopted by the new board in relation to the Bank's strategies and internal environment," he added.

His Excellency Samih Darwazah Chairman of Capital Bank's Board said, "I am grateful for the trust that has been placed in me to perform the duties of Chairman of Capital Bank's Board, which is a Jordanian bank that has witnessed continuous developments in its business because of the unlimited ambition and determination that Capital Bank's team has."

"This new position in the third largest Jordanian bank in terms of capital is a huge responsibility that drives me towards doing all that I can do in order to build on the Bank's successes. I see that the future holds a number of promising opportunities that are in line with the advanced position of the Bank. I look towards this change to achieve all that is positive so that we at Capital Bank can contribute to the development of the banking sector and influence the momentum of economic development in Jordan," he added.

Darwazeh will assume his new position at Capital Bank subsequent to a longstanding career in different sectors including the pharmaceutical, engineering and energy sectors; where he was able to achieve a number of successes through the various positions he held including his work as a Minister of Energy and Mineral Resources in Jordan, Chairman of Arab Engineering Industries, in addition to a number of other high ranking positions. His Excellency is currently the Chairman of the Hikma Pharma Group a company which he helped both found and manage.

Darwazeh holds a B.Sc in Pharmacy from the American University of Beirut, an M.Sc. in Pharmacy from St. Louis College of Pharmacy, Missouri in the United States.

Capital Bank was able to prove through this transition period an ability to adapt to administrative changes and benefit from its positive aspects.

The Bank continued its banking activities normally, preserving a balanced level of business, a solid financial situation and liquidity ratio, in addition to conserved reserves because of its sound financial situation, which has been consistently stated by the Central Bank in all its recent statements.