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Khaleeji Commercial Bank (KHCB), Bahrain's leading Islamic bank, announced this week that shareholders have approved the recommendation of the board of directors to declare a 15 per cent dividend on the back of excellent results for 2007.
Shareholders also elected a new board for a three year term, reflecting the new shareholding structure of the bank.
After the bank's annual general meeting, Dr Fuad Al Omar, chairman of KHCB, said, "We derive strength from the excellent support and trust of our shareholders. We are confident of their continued support in the execution of our clearly defined strategy to deliver innovative Islamic financial products and services to customers in the GCC and Mena regions."
He added that the dividend of 15 per cent declared by the bank is the direct outcome of the bank's ability to create value for its customers and shareholders; and a sign of its operational revenues.
The bank also expects to widen and diversify its shareholder base by listing on regional stock exchanges, subject to regulatory approvals.
