Bahrain's Al Salam Bank appoints new chairman

Shaikh Khalid bin Mustahail Al Mashani has more than 24 years banking experience


MANAMA: Al Salam Bank-Bahrain has announced the appointment of Shaikh Khalid bin Mustahail Al Mashani as its new chairman replacing Khaleefa Al Muhairi, who has resigned.

Commenting, Shaikh Khalid said: “We regret to announce the resignation of Mr Al Muhairi as chairman and board member for personal reasons. We would like to take this opportunity to put on record our sincere thanks to Mr Al Muhairi for his instrumental contribution to achieving the bank’s objectives during his chairmanship since 2018. During his tenure, the bank was successful in acquiring market share, increasing profitability and growing the deposit base and financing book.”

“The board of directors would like to confirm that the bank will continue its solid strides towards implementing the three-year strategy which is designed to gear us for further financial success in the local, regional and global markets. Building on our key core values of sound corporate governance, transparency and prudent financial policies, we plan to continue our journey towards maximising shareholder value. We are confident that with our robust capital and liquidity positions and our strong management team, the bank will be able to navigate through current market challenges, including the outbreak of Covid-19 and its implications on the global economies,” Shaikh Khalid added.

The new chairman has more than 24 years banking experience.

He serves a number of directorships, including: chairman of Bank Muscat, director of Al Omaniya Financial Services Company, and chairman of Dhofar International Development and Investment Holding Company.

Shaikh Khalid has a BSc in Economics and a Master’s degree from the School of Oriental and African Studies (SOAS), University of London.

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