Bahrain Islamic Bank promotes managers

The promotions take place following the announcement of the remarkable financial results of the Bank in 2005 which exceeded the profits of the previous year 99%. Such impressive financial results also continued during the first quarter of this year, which were recently announced as 90% more than Q1 2005 results.

On this occasion, the Bank's Chief Executive Officer Mr. Yousif Saleh Khalaf congratulated the Managers for their promotion and assuming their new responsibilities. He said: "Bahrain Islamic Bank currently witnesses a very positive phase in its history as the first Islamic Bank in the Kingdom of Bahrain and its achievements on all levels are undeniable".

"Our excellent results at the end of 2005, which were 99% better than the previous year, and the results of the first quarter of 2006 which showed a 90% improvement over the same period of 2005, are only one of many indicators that shows everyone that our established Bank is determined to rise to the international level that it deserves." he added.

Mr. Khalaf continued: "Such achievements and determination are the outcome of the efforts of all the employees of the Bank, hence such recognition is well deserved." He expressed the hope that the Bank's promotion policy would motivate all the other staff members to make further efforts for the growth and progress of the Bank.

The promotions covered the following five departments:

Corporate & Institutional Banking Dept:
Mr. Salman Falah Al Jumairi, who joined BIsB in June 2003, was promoted from First Manager to Senior Manager Corporate & Institutional Banking.

Banking Hall Dept:
Mr. Khalid Abdulla Kamal, Main Branch Manager, who joined the Bank in 1984, was promoted from Manager to First Manager Main Branch.

Information Technology Dept:
Mr. Ashraf Maher Atabani, who joined the Bank on October 2005, was promoted from Assistant Manager to Manager IT Projects..

Internal Audit Dept:
Mr. Khalid Abbas Zayer, who joined the Bank on June, 2002, was promoted from Assistant Manager to Manager Internal Audit.

Financial Control Dept:
Mr. Jamal Abdulla Al Habshi, who joined the Bank on October 1990, was promoted from Assistant Manager to Manager.

Bahrain Islamic Bank was the first listed company on the Bahrain Stock Exchange to announce its financial results for the first quarter of 2006 which showed net profits of BD3.8 million representing a 90% (ninety percent) increase compared with the same period last year. In addition, the Bank's Bahrainisation level, reaching 98%, is the highest among all the Bahrain banks, including Islamic and conventional banks.