IslamicFinance.de

According to a statement of Al Izz Islamic Bank, they have elected members of the board. The elections have taken place a month after the initial public offer of the bank's shares. The chairman, who is to lead a board of six members, is Taimur Bin As'ad Al Said. Last month, the bank sold 40% of its capital through a month-long IPO and thus managed to raise 40 million rials ($104 million). Moreover, Al Izz will list on the Muscat Securities Market on December 3rd.