IslamicFinance.de

BMI Bank, a subsidiary of Bahrain's Al Salam Bank (ASBB), has announced that Jamal Al-Hazeem, director and CEO of the bank had stepped down. Al-Hazeem who took on the helm of BMI Bank in 2010 as CEO, cited personal reasons for his resignation and called the decision to step down as CEO of the Bank as "mutual and amicable". He will continue to stay on as a director on the board at BMI Bank which is currently finalising the operational aspects of its merger with Al Salam Bank as it converts its business to a Sharia compliant one.

BMI Bank has paid out a three-year Islamic term loan worth $93.7m on its programmed due date.
Jamal Al-Hazeem, the Chief Executive Officer of BMI, stated that the repayment of the facility on time, without having to refinance or rollover, is demonstrated through continuing priority on maintaining a healthy liquidity position in order to fulfill our commitments to customers.