The Islamic Bank of Bahrain (BISB), the pioneering bank in providing innovative and simplified Islamic digital banking services in the Kingdom of Bahrain, announced the success of its regular public association meeting successfully, on Monday morning, March 24, 2025 at the Gulf Hotel – Bahrain.
After ensuring that the legal quorum is completed by 94.81%, the meeting was opened with a speech delivered by Mr. Zaid Khaled Abdel Rahman, Chairman of the Board of Directors of the Islamic Bank of Bahrain, during which he welcomed the attendance of shareholders, and representatives of: Bahrain Central Bank, Ministry of Industry and Trade, Bahrain Stock Exchange, and external accounts, along with the Chairman of the Sharia Supervision Authority and the shame of the shares of Bahrain Clearing Company (Bahrain Clear).
During the meeting, the minutes of the Ordinary General Assembly meeting No. (48) held on March 25, 2024 were approved, and the report of the Board of Directors related to the bank’s activities and financial position for the year ended on December 31, 2024, and listening to the external auditors and the Sharia Supervision Authority for the same period, in addition to discussing the audited financial statements for the year ending on December 31, 2024 and approving it. The meeting also witnessed informing the General Assembly of the transactions that took place during the fiscal year in the same period between the bank and the relevant parties, including the main shareholders as mentioned in restricted clarification No. (27) of the unified financial statements, in accordance with the provisions of Article (189) of the Bahraini Commercial Companies Law.
The Ordinary General Assembly approved the recommendation of the Board of Directors to distribute a net profit of 5,070,026 Bahraini dinars for the year ending on December 31, 2024, with 356,398 BD to the Zakat Fund, 50,000 BD for charitable donations and the Board of Directors to distribute them, and transfer 507,003 Bahraini dinars to the legal reserve, and 4,156,625 Bahraini dinars to profits Committed.
The Ordinary General Assembly also approved the disbursement of rewards for the members of the Board of Directors with a total value of 268,128 Bahraini dinars for the fiscal year ending on December 31, 2024, after obtaining the approval of the Minister of Industry and Trade, in addition to approval of all other privileges and benefits, including the attendance allowance for the fiscal year ending in 2024, with the approval of a reward for attending the fiscal year 2025 according to the previous rates. The bank’s governance report was also reviewed for 2024, according to the requirements of the Central Bank of Bahrain. The Ordinary General Assembly agreed to discharge the members of the Board of Directors for everything related to their actions during the fiscal year ending December 31, 2024, and KPMG was approved as external auditors for the year 2025, with the Board of Directors delegating their fees.
The election of the members of the Board of Directors for the period from March 2025 to March 2028 began, and the results announced the victory of four independent members: Mr. Nasser Muhammad Al -Hamad, Mr. Khaled Abdulaziz Al -Jassem, Mr. Marwan Khaled Tabbara and Mr. Mohammed Abdul Rahman Boujeri, in addition to the appointment of 6 members of the senior shareholders (Bahrain National Bank): Mr. Zaid Khaled Abdul Rahman, Mr. Othman Ahmed, Mr. Muhammad Abdullah Nour El -Din, Mr. Hisham Saeed Al -Kurdi, Mr. And Mrs. Rana Abdulaziz Qambar.
At the end of the meeting, Mr. Zaid Khaled Abdul Rahman thanked and great gratitude to the shrine of His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, and to His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Crown Prince and Deputy Supreme Commander and Prime Minister, for their wise leadership and continuous support.
He also praised the efforts of the virtues of the members of the Sharia Supervisory Authority, and thanked the shareholders and customers for their support and confidence, and to the members of the Board of Directors and the executive management of the bank and employees for their grandfather and their dedication in their work.
