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Ithmaar Bank says chief executive to retire

Bahrain's Ithmaar Bank has announced its chief executive Mohammed Bucheerei is to retire at the end of August and be replaced by Ahmed Abdul Rahim, currently general manager, as acting head, Reuters has reported. Bucheerei led the bank's transition from an Islamic investment bank to a retail Islamic lender offering a range of Shari'ah-compliant products, the bank said.