Al Salam Bank appoints key executives and board members

The executive appointments include the Sharia'h committee, Chief Accountant, Foreign Legal Consultant, Auditor for the year 2005 and Financial Advisor for the bank.

Al Salam Bank was founded by a consortium of UAE and Sudanese investors. Mohamed Ali Al Abbar has been elected Chairman of the Board. Other Board Members include Hussein Mohammed Al Miza, Salem Rashid Al Muhannadi and Mohammed Omeir Bin Yousef. New board members appointed yesterday include Omar Mahmoud Al Qouqah, Abdullah Abdul Karim Shoeitar, Faisal Mansour Aloun, Kamal Hamza Al Hassan and Mohammed Ibrahim Hamdoun.

The Sharia'h committee members appointed include A. D. Hussain Hamed Hassan as Chairman and Head of the Committee, Dr. Ahmad Ali Abdullah and Dr. Mohammed Abdul Hakim Zuair as members and decision makers.

Commenting on the appointments, Hussein Mohammed Al Miza, said, "The Sharia'h Committee members are well respected and authorities in the field of Islamic banking. We have maintained our high standards by appointing leaders in their respective disciplines, be it financial management, legal counsel auditing. We look forward to the new members of our team palying a large role in the growth of the bank for years to come."

The economic and political situation in Sudan is encouraging a fresh wave of investment. The Sudanese economy is booming and is one of the fastest growing in the region buoyed by increasing oil production. Sudan has become a magnet for investors, businesses and financiers since the signing of a peace treaty between the north and south of the country.
Financial stability has been ensured by the intervention of the International Monitory Fund, lowering the investment risks. Al Salam Bank expects to be a building block of the Sudanese financial system.

Al Salam Bank will provide the latest Islamic financial services to the Sudanese market, focusing on the quality of its service to customers. It will begin operations this year and plans to quickly expand out of its Khartoum headquarters and create a network of branches throughout the country. All its operations, services and products will be fully Sharia'h compliant.