Bahrain - Khaleeji Bank chief executive officer Sattam Algosaibi has resigned from his post, the bank announced yesterday.

His last working day was March 31.

Accepting the resignation, the bank’s board of directors, led by chairman Yousif Abdulla Taqi, praised Mr Algosaibi for his “outstanding efforts” and “valuable contributions” in strengthening the sharia-compliant lender’s position within the kingdom’s banking sector.

Mr Taqi noted that Mr Algosaibi’s tenure was marked by several prominent milestones, including enhanced institutional performance and the reinforcement of sustainable growth foundations.

The chairman added that these efforts helped the bank adapt to the rapidly evolving dynamics of the financial industry.

“On behalf of the board of directors, we extend our sincere thanks and appreciation to Mr Sattam Algosaibi for his dedication and commitment throughout his leadership of the bank, and we wish him every success in his future professional endeavours,” Mr Taqi said.

Following the departure, the board and executive management reaffirmed their commitment to executing the bank’s existing strategy.

A statement from the bank emphasised focus on achieving further positive results, ensuring sustained growth, and enhancing value for both customers and shareholders in the coming phase.

The bank also underlined its continued drive to adopt initiatives that bolster stakeholder confidence while maintaining its standing as a leading financial institution in Bahrain.

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