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Dec 17 2011

New SAMA Head Fahd Al Mubarak Resigns From Saudi Hollandi Board

Saturday, Dec 17, 2011

BEIRUT (Zawya Dow Jones)-- Saudi Hollandi Bank (1040.SA) Saturday said Fahd Al Mubarak has resigned as board member following his appointment by the Saudi king as governor of the Saudi Arabian Monetary Agency , or SAMA , the kingdom's central bank.

Saudi Hollandi , an affiliate of the Netherlands' ABN Amro Bank, said in a statement posted on the Saudi bourse website that a replacement will be announced once it gets the authorities' approval.

The lender's shares were last trading 0.71% higher at SAR28.50.

-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com

Copyright (c) 2011 Dow Jones & Co.

(END) Dow Jones Newswires

17-12-11 0841GMT

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