Khaleeji Bank B.S.C. Board of Directors Announces Resignation of Mr. Hisham Al-Rayes and Appointment of New Chairman

Strategic Insights -

The Board of Directors of Khaleeji Bank B.S.C. has announced the resignation of Mr. Hisham Al-Rayes as Chairman, effective May 1, 2025. Mr. Al-Rayes, who has been part of the bank's board for 13 years, including three years as Chairman, has decided to focus on his activities with GFH Financial Group B.S.C. His decision comes as he seeks to dedicate more time to his role with GFH. The board has appointed Mr. Yousif Abdullah Taqi as the new Chairman, following a recommendation from the board members. Mr. Taqi is recognized for his extensive experience in the banking sector in Bahrain, spanning over 35 years.

Key Takeaways:

  • Mr. Hisham Al-Rayes has resigned as Chairman of Khaleeji Bank B.S.C., effective May 1, 2025, to focus on his activities with GFH Financial Group B.S.C.
  • Mr. Al-Rayes has served on the bank's board for 13 years, including three years as Chairman.
  • Mr. Al-Rayes is recognized for his contributions to the bank's growth and development during his tenure.
  • The board has appointed Mr. Yousif Abdullah Taqi as the new Chairman, following a recommendation from the board members.
  • Mr. Taqi has over 35 years of experience in the banking sector in Bahrain, holding leadership positions in major banking institutions within the Kingdom.
  • Mr. Taqi holds a Bachelor's degree in Accounting from Husson University in the United States, obtained in 1990, and is a Certified Public Accountant (CPA).
  • There will be no change in the shareholding of the issuer and its subsidiaries as a result of this transition.
  • The board expressed gratitude to Mr. Hisham Al-Rayes for his service and wished him success in his future endeavors.
  • Mr. Taqi's appointment is seen as a strategic move to maintain continuity and stability within the bank's leadership structure.

Statistics:

  • 13 years: Duration of Mr. Hisham Al-Rayes' service on the Khaleeji Bank B.S.C. board.
  • 3 years: Length of Mr. Al-Rayes' tenure as Chairman of Khaleeji Bank B.S.C.
  • 35 years: Span of Mr. Yousif Abdullah Taqi's experience in the banking sector in Bahrain.
  • 1990: Year Mr. Taqi obtained his Bachelor's degree in Accounting from Husson University in the United States.

Sources:

  • "Khaleeji Bank B.S.C. Board of Directors Announces Resignation of Mr. Hisham Al-Rayes and Appointment of New Chairman." Bahrain Bourse, May 12, 2025.