Constituent General Meeting of Al Salam Bank - Bahrain on Monday 17th April

The meeting's agenda will start by electing a Chairman of the Constituent General Meeting, discussing the founder's report, and then approving the incorporation expenses. The meeting's agenda will also include the appointment of the auditors, followed by, the Chairman to officially declare the establishment of Al Salam Bank in Bahrain.

In addition, the meeting will include electing and appointing the Shari'ah supervisory Committee Members that will provide all consultancy and supervision on all banking services provided by the bank to be according to Islamic Compliance and Shari'ah. The meeting will be concluded by electing the members of the Board of Directors.

Mr. Hussein Mohammed Al Meeza, Vice Chairman of the Founders' Committee of Al Salam Bank, said: "We are looking forward to a successful meeting which will conclude the first stage of establishment. We paid close attention to details and arrangements in the establishment stage to build a stable and sound base for Al Salam bank in one of the most efficient banking environment in the Gulf region."

"At the end I would like to thank H.H. the King, the government and the people of Bahrain, especially Bahrain's Monitory Agency and the Ministry of Finance for their great support and facilitations they have provided us," concluded Al Meeza.

Al Salam Bank Bahrain announced the successful closure of its Initial Public Offering (IPO), with the issue being oversubscribed 63 times. Shares with a value of BD 42 million that amounts to AED 420 million with a subscription result of B.D 2.7 billion which equals AED 27 billion.

Therefore, a total number of sixteen (16) ordinary shares have been allotted to all investors whom have subscribed to the minimum subscription of one thousand (1,000) ordinary shares. The same allotment basis (pro-rata) shall be applied to all other investors.