New BisB Chairman Appointed

The Bahrain Islamic Bank (BisB) has appointed Abdul Razaq Al-Qassim as new board chairman. Mr. Al-Qassim will take over from incumbent Khalid Al-Bassem, who opted to quit after holding the position for eight years. The appointment was on the sidelines of a BisB board meeting which finalized the sale of shares of Kuwaiti Investment House Holding Co. (51% of BisB shares) to National Bank of Bank (25.8%) and the General Organisation for Social Insurance (25.8%). The bank has also decided to convene a regular general assembly on July 7 to elect a new board following the ownership overhaul.