September 15th, 2012, Manama, Bahrain: Bahraini Banker, Jamal Al-Hazeem has been appointed as the new Chairman of Gulf African Bank (GAB) the first and largest sharia-compliant Bank in Kenya and will replace the founding Chairman, Suleiman Shahbal who steps down in order to commit time towards the pursuit of his candidature for the governor of Mombasa, the second largest city in Kenya. Jamal Al-Hazeem, a veteran Banker with over 31 years' experience, is currently the Chief Executive Officer of Bahraini retail and commercial banking institution BMI Bank. Jamal also serves as the Chairman of leading Kuwaiti company Al Taameer Real Estate Investment Company and is a Board Member at several prestigious organizations in Bahrain including the Bahrain Association of Bankers and Nass Corporation.

Commenting on his new appointment, Jamal Al-Hazeem said:

"I am honored to be appointed as Chairman of GAB, the leading Sharia-compliant Bank in Kenya. I am also grateful to the Board of Directors and shareholders for their trust and confidence reposed in me and reiterate once again the strong commitment that we have toward GAB.  I take this opportunity to thank Suleiman for his leadership of Gulf African Bank over the last 5 years. Suleiman had the vision to set up the first Sharia-compliant institution in East Africa and the positive results of the Bank are a testimony to the success of that vision. On behalf of the Board of Directors, I wish him well in his political career and look forward to seeing him replicate the success he demonstrated in banking within his political life." 

Bahraini retail and commercial banking institution, BMI Bank currently offers customers a complete range of innovative and unique financial products and services through its extended network of strategically located branches and ATMs. BMI Bank has a 21.33% shareholding in GAB - Kenya, operates an international branch in Qatar and an Offshore Bank in the Seychelles (a joint venture with Nouvobanq). In addition, BMI Bank owns and operates the Diners Club cards franchise in Bahrain. BMI Bank's shareholders include some of the strongest and most respected financial institutions across the GCC, including BankMuscat (SAOG) the flagship financial institution in the Sultanate of Oman.   GAB recently registered a net income after tax of close to USD 1.5 million for the first 6 months of 2012 representing a record growth of 452% over a similar period last year. Its branch network also expanded from one branch at inception to the current 14 branches.

For further information, please contact:
Gordon Andrade
Head, Corporate Communications
BMI Bank - Bahrain
E-mail: gordon.andrade@bmibank.com
Cell: +973 39782225  

© Press Release 2012