Jul 21 2008 |
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The Board of Directors of Oasis Capital Bank (OCB) is pleased to announce the establishment of its private banking enterprise, Oasis Capital Bank
OCB is a new private bank incorporated in the Kingdom of Bahrain with authorized capital of US $ 1 billion and paid up capital of US $ 245 million which was raised through private placement memorandum. OCB's experienced board of directors and senior management professionals bring to the fore a wealth of banking and finance expertise in the regional and international arena with professionalism and strategic thinking to leverage on the growing demand for private banking services especially within the HNWI and UHNWI investor segment.Key to OCB's success will be their unique business model, the Founders' and the management team's knowledge of the regional business environment and local investors' need and the bank's approach of providing a service-oriented value proposition to its clients.
In the meeting of the Constituent General Assembly on Sunday 20th July 2008, the following were elected as the first Board members. Sh. Mohammed bin Isa Al Khalifa, Sh. Khalid bin Mohammed Al Khalifa, Mr. Abdulla Buhindi, Mr. Khalid Kanoo, Mr. Talal Al Zain, Mr. Abdulrazaq Hassan and Mr. Khadem Al Qubaisi.
Speaking after the meeting, Dr. Farid Al Mulla, Managing Partner of OCB said: "We are delighted with the successful completion of the capital raising in such a relatively short period of time. We are confident that with the depth and diversity of our shareholder base, experienced Board members and senior management, we can become a significant differentiator in financial services in the region."
The Board of Directors would like to express their sincere thanks and appreciation to His Majesty King Hamad bin Isa bin Salman Al Khalifa, His Highness the Prime Minister Sheikh Khalifa bin Salman Al Khalifa, and His Highness the Crown Prince Sheikh Salman bin Hamad bin Isa Al Khalifa for their wise leadership and guidance which helped in promoting the Kingdom of Bahrain as the hub of banking in the Arabian Gulf region.
Furthermore, The Board as well as the management of OCB would like to thank the Central Bank of Bahrain and the Ministry of Industry and Commerce for their support and guidance during the incorporation of the bank.
In particular, we would like to extend our deepest appreciation to Palm Capital, the lead sponsor of the project for their efforts in establishing the bank and our valued shareholders for their trust and participation in the bank.
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